At full capacity the Dangote Petroleum Refinery & Petrochemicals (DPRP) would be utilising up to 2.5 percent of globally traded crude oil.

President and Chief Executive Officer, DPRP, Aliko Dangote, revealed this while receiving the Minister of State for Industry, Senator John Owan Enoh, who led a high-level delegation from the Federal Ministry of Industry on a tour of the 700,000 barrels-per-day industrial complex.

Reflecting on the refinery project, Dangote described it as the biggest business risk of his life, recalling how many financiers doubted the project would ever be completed.

Despite challenges ranging from the COVID-19 pandemic and foreign exchange volatility to scepticism from lenders, he said the successful delivery of the refinery demonstrates the capacity of Nigerian entrepreneurs to execute projects of global significance.

“What we have achieved here has never been done before on this scale. Once one person succeeds, many others will be encouraged to follow,” he said.

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Dangote disclosed that the refinery, at full capacity, will account for the equivalent of about 10 per cent of the United States’ refining capacity and consume approximately 2.5 per cent of globally traded crude oil.

He urged the Federal Government to place industrialisation at the centre of its economic strategy, insisting that no nation has attained prosperity without a strong manufacturing base.

“There is no way to create jobs and prosperity without industrialisation,” Dangote said.

“The greatest attraction for foreign investors is the success of domestic investors.

When local investors thrive, they send a powerful signal that the environment is conducive to investment.”

The industrialist revealed that Dangote Industries recently raised an unsecured and unrated bond at rates below Nigeria’s sovereign benchmark, demonstrating growing investor confidence in credible Nigerian private-sector institutions.

According to him, the successful fundraising underscores the ability of Nigerian companies to mobilise long-term capital when supported by stable and predictable government policies.

Dangote also emphasised that policy consistency remains the most important factor in attracting investment, stressing that frequent policy reversals undermine investor confidence more than the absence of incentives.

“If Nigeria is to achieve sustainable growth and become a trillion-dollar economy, industrialisation must be the foundation. Indigenous investors remain the strongest catalysts for that transformation,” Dangote stated.

Earlier, the Minister of State for Industry, Senator John Owan Enoh, described the refinery as a cornerstone of Nigeria’s ambition to build a $1tn economy, pledging deeper collaboration with the private sector to accelerate industrialisation, job creation and economic transformation.

According to the minister, the integrated industrial complex is one of the most significant investments in Africa and a model for the type of industrial development required to drive Nigeria’s economic growth aspirations.

“You cannot be Minister in charge of Industry and not visit the Dangote Refinery,” Enoh stated. “This facility matters because of what it represents for Nigerian industry, for our people and for the realisation of President Bola Tinubu’s vision of a one trillion-dollar economy.”

He added, “The more a country adds value to its products, the more respect it earns globally. The Dangote Refinery stands today as one of the strongest demonstrations of that principle.”

Efforts to afford postgraduate students of the University of Lagos Business School pragmatic exposure to oil and gas industry operations in supply chain management geared up with Chevron Nigeria Limited stepping in.

A company statement has it that the students, drawn from the institution’s Urban Logistics and Transport Management programme, participated in a field engagement with Chevron’s Supply Chain Management team.

It afforded them practical insights into supply chain strategy, logistics execution, digital technology, safety practices and local content requirements that support upstream oil and gas operations.

Chevron’s Manager of Communications, Victor Anyaegbudike, gave an overview of the company’s upstream operations, noting that Chevron has operated in Nigeria for more than 60 years across various asset classes.

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The interactive engagement enabled the students to engage supply chain leaders on materials management, marine logistics, sourcing decisions, fleet management and stakeholder expectations within Nigeria’s operating environment.

A supply chain management advisor at Chevron, Olusola King, said effective supply chain management requires sound judgement, adaptability and disciplined decision-making, particularly when managing disruptions and operational constraints.

She explained that the company continues to strengthen control over inbound logistics by deploying sourcing models that improve quality assurance, reduce customs-related risks and ensure the timely delivery of critical materials.

King also highlighted Chevron’s leased marine vessel model, competitive bidding process and safety assurance requirements, including field safety and reliability evaluation inspections conducted before vessels are deployed.

Another company official, Obianuju Okoro, said digital technology has become central to improving supply chain efficiency, noting that the company deploys platforms for procurement, inventory management, contracting plans, material tracking and automated replenishment.

According to her, dashboards, data analytics and emerging technologies are also being used to improve supply chain visibility, anticipate demand and support faster decision-making.

The students were also taken through Chevron’s safety culture, with emphasis on operational discipline, stop-work authority, risk assessments, work-permitting processes, fitness-for-duty requirements and offshore safety certifications.

During a panel discussion, company officials Anamaria Ion and Tuokpe Etikerentse said compliance with Nigerian content requirements remains a key part of Chevron’s contracting strategy, while dedicated sourcing opportunities continue to support host community participation and local economic development.

Chevron’s General Manager, Supply Chain Management, Marizu Nwokoma, an alumnus of the University of Lagos, welcomed the students and encouraged them to leverage opportunities that foster collaboration between academia and industry to enhance the value of research and innovation.

The engagement also featured group exercises on supply chain disruptions using real-world scenarios, with participants applying digital tools and collaborative decision-making to address operational challenges before concluding the visit with a tour of the company’s auto workshop and Lekki warehouse.

In the past 10 years, Chevron Nigeria Limited (CNL) has spent over $10 billion to support Nigerian companies and local capacities.

CNL’s, Chief Corporate Affairs Officer and the General Manager of Corporate Affairs Shoga Odushelu, disclosed this at the 2026 Nigeria Union of Journalists FCT Council Media Capacity Building for Energy Correspondents in Abuja.

The theme of the capacity building is “Strengthening Energy Journalism Through Knowledge, Data Accuracy and Artificial Intelligence.”

Odushelu, represented at the workshop by Victor Anyegbulike, said, “Right now, every year, we spend about $1 billion for local content. And in the past 10 years, we have spent over $10 billion supporting companies and supporting local capacities”

According to him, most of the prominent players with excellent capacity in the oil and gas industry are the offshoots of Chevron projects.

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He also recalled that, regarding Nigerian content, Chevron started local community content in 1999, before Nigerian content in 2010.

According to him, the firm, which has reduced gas flaring by 98 per cent, is ready to exit flaring completely very soon for supply to the Nigerian market.

“Where we get all those gases and make sure we put it into the Nigerian market. And we know that in doing that, we are removing all the gas that originally was flared, right?

“And we have reduced our gas flaring by 98%. The idea is for us to get to 100% very, very soon,” he said.

Besides, he revealed that as the company transitions to the Host Community Development Trust (HCDT), it is also building capacity through the HCDTs of each of the communities it operates in.

Chevron payments to its host communities, said Odushelu, have exceeded $140 million in terms of community development projects in the Niger Delta.

“Right now, over $140 million has been paid to these communities for our community development projects in the Niger Delta region,” he said.

Odushelu revealed that Chevron, in partnership with Pan-Atlantic University, was the first company to start training journalists in Lagos in 2014.

According to her, 140 journalists benefited from the programme.

Currently, he said the firm is training journalists all over Nigeria in their various fields, including the Nigeria Association of Energy Correspondents this year.

On the essence of the training, he described journalism as a very noble profession.

Chevron, he said, takes the profession very seriously because of journalists’ functions in society.

In her remarks, the NUJ FCT Council Chairman, Grace Ike, said data accuracy is the compass of journalism.

She added that in an era of abundant numbers and competing claims, credible data separates sound reporting from speculation.

Continuing, she stressed that “We must demand primary sources, verify figures, and develop the habits and tools to cross-check official statistics, company disclosures and independent datasets.

“Where numbers are unclear, we must say so and show our readers why clarity matters.

“Accurate data reporting helps hold corporations and governments accountable, protects communities from misinformation, and builds public confidence in our profession.

“Artificial intelligence is our new tool, not a replacement for our judgement, but a force multiplier when used with discernment.

“AI can rapidly analyse large datasets, identify trends, transcribe interviews, and surface documents.”