President of the Republic of Senegal, H.E. Bassirou Diomaye Faye, has commended Sahara Group for its longstanding commitment to Senegal and the Société Africaine de Raffinage (SAR), describing the company as a trusted partner in the country’s energy sector.

The President made the remarks while receiving a Sahara delegation led by Wale Ajibade, Executive Director, Sahara Group, alongside Mamadou Abib Diop, Managing Director of SAR, at the Presidential Palace in Dakar.

President Faye acknowledged Sahara’s passion for Africa, its Pan-African outlook, and its consistent support for Senegal’s energy aspirations over the years through Sahara’s longstanding relationship with SAR.

“We appreciate Sahara’s dynamism, flexibility and constructive partnership with SAR, particularly its support in helping secure the country’s energy requirements amid challenging global market conditions,” President Faye added.

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Responding, Ajibade reaffirmed Sahara’s commitment to supporting Senegal’s energy security and economic development.

“Senegal has been an important partner for Sahara over the years, and we remain committed to deploying our expertise, infrastructure, financing capabilities and operational experience in ways that support the country’s energy ambitions. We are encouraged by the progress being made and look forward to deepening our partnership with SAR and other stakeholders across the energy value chain,” he said.

Ajibade noted that Sahara’s engagement in Senegal extends beyond its shareholding in SAR and reflects the company’s broader commitment to advancing energy access, industrial development and sustainable economic growth across Africa.

SAR Managing Director Mamadou Abib Diop, described Sahara as a reliable, long-term partner that has made significant investments in Senegal and continues to play an important role in supporting the country’s energy sector.

“Sahara Energy has invested significantly in Senegal over the years and remains a major and reliable partner. We are focused on strengthening our collaboration with Sahara to provide Senegal with greater flexibility in addressing the needs of the energy sector.”

Diop highlighted Sahara’s support for SAR’s crude oil supply requirements and noted that the company has consistently demonstrated its willingness to work alongside Senegalese stakeholders to help navigate prevailing market challenges.

The meeting further reinforced the strong partnership between Senegal, SAR and Sahara Group, as all parties continue to pursue practical solutions that enhance energy security, strengthen supply reliability and support the country’s long-term economic development.

Photo Caption – From Left, Executive Director, Sahara Group, Wale Ajibade and President of the Republic of Senegal, H.E. Bassirou Diomaye Faye at the Presidential Palace in Dakar, Senegal

The Securities and Exchange Commission (SEC) has approved the commencement of the Initial Public Offering (IPO) of the Dangote Petroleum Refinery and Petrochemicals FZE (DPRP), paving the way for what could become one of the largest capital market transaction in Nigeria’s history.

A company statement in Lagos has it that the approval was conveyed in a letter to the Lead Issuing House, Vetiva Advisory Services Limited, and signed by the Director of the Securities and Investment Services Department of the SEC, Abdulkadir Abbas.

According to the Commission, the proposed offering comprises 4.1 billion ordinary shares at ₦525 per share, with the potential to raise approximately ₦2.15 trillion if fully subscribed. In addition, the SEC has registered the company’s existing 120.13 billion ordinary shares.

The regulatory approval clears the refinery’s draft offer documents and authorises the company to proceed with its Completion Board Meeting and Signing Ceremony, marking a significant milestone in the IPO process.

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The SEC’s clearance represents another major step in the evolution of Dangote Petroleum Refinery, opening investment opportunities in one of Africa’s most strategic industrial assets and further strengthening Nigeria’s capital market.

Located in Ibeju-Lekki, Lagos, the DPRP Complex occupies approximately 2,635 hectares and is home to a world-class integrated refining and petrochemicals facility. The complex currently has a refining capacity of 700,000 barrels per day, making it the largest single-train refinery in the world, alongside a 900,000 tonnes per annum polypropylene plant. The facility is powered by a dedicated 435-megawatt power plant.

At full production, the refinery is designed to satisfy Nigeria’s domestic demand for refined petroleum products while generating substantial volumes for export markets. The facility is also undergoing expansion that is expected to increase capacity to 1.4 million barrels per day, positioning it to become the world’s largest refinery.

The refinery is supported by extensive world-class infrastructure, including a self-sufficient marine facility designed to optimise logistics and freight efficiency. It also holds the world’s largest single order of five Single Point Moorings (SPMs) and incorporates advanced processing technology that meets World Bank, United States Environmental Protection Agency (EPA), European emission standards, and Nigerian regulatory requirements.

Its integrated port infrastructure includes multiple quays capable of handling Panamax vessels, liquid cargo shipments, and roll-on/roll-off operations, while its storage network comprises 177 tanks with a combined capacity of 4.742 billion litres.

With SEC approval now secured, the refinery is poised to embark on a historic public offering that could significantly broaden investor participation in one of Nigeria’s most transformative industrial ventures.

The Nigerian Exchange Group (NGX Group) has commenced corporate baseline assessments under its N-Zero initiative, marking the next phase of its effort to help Nigerian businesses strengthen climate readiness, develop credible net-zero pathways and position for emerging opportunities in climate-aligned capital.

Launched in January in partnership with DEG Impulse gGmbH and Africa Foresight Group (AFG), N-Zero is designed to support companies in moving from climate ambition to practical action by strengthening their capabilities in climate strategy, emissions measurement, transition planning and access to emerging carbon-market opportunities.

The baseline assessment will establish each participating company’s starting point and provide a structured view of its readiness across key areas, including climate-risk management, emissions measurement and reporting, target-setting, transition planning, technical capabilities and understanding of carbon-market opportunities. The findings will identify priority gaps and inform tailored support for each company.

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Since its launch, N-Zero has engaged more than 50 companies across key sectors of the economy, with 17 formally onboarded as community members and more than 100 companies receiving the baseline survey. Current community members include Access Holdings, Dangote Cement, United Bank for Africa, Stanbic IBTC Holdings, First HoldCo, Fidelity Bank, Zenith Bank, Wema Bank, NEM Insurance, Chapel Hill Denham, BUA Cement, Caverton Offshore Support Group, Presco, Oando, HBM Nigeria, Seplat Energy and Skyway Aviation Handling Company, with further companies being engaged as the initiative expands.

On the development, Temi Popoola, GMD/CEO, NGX Group, said: “The transition to a net-zero economy is increasingly becoming a factor in competitiveness, investor confidence and access to capital. Nigerian businesses therefore need to move beyond climate ambition to demonstrate measurable and credible progress. N-Zero is designed to help companies understand where they stand today, identify the gaps that matter most and build practical pathways towards where they need to be. The baseline assessment is a critical step because it gives us the evidence and insight required to tailor support and help participating companies turn climate intent into measurable action and long-term value.”

Following the baseline exercise, companies will undergo needs assessments combining digital diagnostics with expert technical review to determine their readiness levels, identify priority gaps for intervention and define the next steps towards credible climate targets, transition plans and implementation.

N-Zero is structured as a progression from awareness and assessment to target setting, transition planning, validation, implementation and impact tracking. This approach is intended to help companies strengthen internal capabilities while identifying commercial opportunities arising from the transition to a lower-carbon economy.

Under the 2026 roadmap, baseline analysis and initial needs assessments are expected to conclude in September, followed by partner-led sessions and tailored support packages in October and November. The broader programme targets include supporting participating companies to develop science-aligned targets and transition plans, assess emissions-reduction potential, facilitate eligible carbon-offsetting projects and track progress towards the reduction or avoidance of approximately 20,000 tonnes of carbon-dioxide-equivalent (tCO₂e) emissions.

For NGX Group, the initiative also supports the development of a more climate-ready corporate sector and a capital market better positioned to respond to the risks and opportunities associated with the global transition to a lower-carbon economy.

As N-Zero enters this next phase, its focus is clear: establishing a measurable baseline for corporate climate readiness and helping Nigerian businesses move from commitment to credible, verifiable action.