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UN Group Identifies $1.5trn Blue Opportunities In Niger Delta, Expert Raises Environmental Concerns
The United Nations Global Compact has called the attention of all and sundry to some blue investment opportunities that can be harnessed in Niger Delta, Nigeria that surpass $1.5 trillion in 2022.
This is said to come at a time the Nigeria Blue Economy Stakeholders step up engagements through the Niger Delta Blue Economy Investment Forum to change the dynamics of the crude oil-dependent region to a new future that is green and sustainable with practical projects.
In a statement on Thursday, signed by Segun Adeleye, President/CEO of World Stage Limited and Chairman/Founder, SAFFGLIA.
In his presentation at the Niger Delta Blue Economy Investment Forum held at Monty Suites and Golf Resort, Uyo, Akwa Ibom State capital from November 15-17, 2022, Mr. Erik Giercksky of the UN Global Compact Sustainable Ocean Business Action Platform said, while green bonds clearly address climate and environmental issues, the blue bond can relate to all Sustainable Development Goals (SDGs), reflecting the diversity of factors relevant for sustainable ocean business including fair labor conditions, climate change, waste reduction, and gender equity.
“Using a blue label can show stewardship, in terms of emission reduction in the ocean, but also in ways that may not be fully expressed in a green instrument,” he said.
At the three-day forum organized by Alfe City Institution in collaboration with the Ministry of Niger Delta Affairs, Giercksky who addressed the forum virtually from newly York-listed benefits for a blue bond which can be issued by sovereign countries, multilateral development banks, banks, large and medium-size companies to include enhance the credibility of sustainability strategy; improve the diversity of investor base; create opportunities for larger and longer-term financing; potential improved financing costs; reputation benefits; and internal benefits.
The theme of the forum hosted by the Akwa Ibom State government and supported by the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Ports Authority (NPA) and National Inland Waterways Authority (NIWA) is ‘Preparing for a Future Less Reliant on Crude Oil’.
Giercksky said the United Nations Global Compact Ocean CFO Task Force in collaboration with ADB Blue Bond Incubator is available to support the private sector to issue blue bonds through the provision of thought leadership; share corporate learning to teach and inspire potential issuers; showcase corporate commitment to the blue economy on the global stage; technical assistance; understand blue bond options, challenges, and benefits; define company’s blue bond framework and secure external verification; Identify assets, projects & KPIs eligible for blue bond proceeds; and Assistance in de-risking, structuring, and issuing the blue bond.
In a presentation titled ‘The Niger Delta Endemic Environment: Challenges and the way forward, Mr. Hilary Efanga, a researcher and Senior Lecturer with the Maritime Academy of Nigeria, Oron identified oil spillage/gas flaring and other forms of pollution as some of the major negative impacts on Niger Delta citizens, the environment and its economy, particularly the blue economy that must be urgently addressed for the blue economy to thrive.
“Central to the poor state of affairs is the largely obsolete laws and regulations in the Nigerian oil industry which have been outpaced by the prevailing technology for crude oil development and use,” he said.
“There is therefore an urgent need to review the existing oil industry laws and create new ones.
“The new laws to be promulgated must be relevant to the current state of affairs and strictly enforced to deal with every aspect of the industry, and very importantly, oil spillage and gas flaring.
“The communities in the Niger Delta region have become the recipient of environmental degradation. Government’s failure to implement appropriate policies to ameliorate the devastating region has exacerbated the phenomenon. Therefore a comprehensive or holistic approach is necessary to address the social and economic predicaments of the people living in the Niger Delta region.”
Calling on the Nigerian government to learn a lesson from how other countries effectively managed spill cases and adopt the same as in the case of the Exxon Valdez Oil Spill and Prestige oil spill disasters, the researcher said, “The cause of oil spill can lead to a very disastrous situation as such should be treated as a national emergency by the Nigerian government whenever it occurs. Not just because this is the case in other regions, but because it is the responsibility of the government to protect its environment.
“The government needs to provide effective capacity building at all levels by training personnel and acquiring basic oil spill response assets and equipment so as to be able to manage and control oil spills.
“Nigeria seems to depend largely on foreign experts for spill management; this approach may not add local content value. Therefore, the country should embark on the expansion of local knowledge of spill management through technology knowledge transfer.
“The government should develop a comprehensive spill management program with the integration of a modern national spill contingency plan and provision of the modern response equipment in readiness to combat any spill.
“Effective public and private sector partnerships are crucial to deal with the occurrence of oil spills in Nigeria with the government playing a major role.”
As for the private companies, he said they are not blameless, as they had not demonstrated commendable corporate social responsibilities in either their operations or their relationship with host communities regarding the effects of their activities on the environment.
“For decades of operations in the Niger Delta, the oil companies have not been significantly involved in the development of the host communities which is the reason for the grievances between parties. Therefore, with the provision of the new PIA, the government should establish an effective monitoring mechanism to ensure that the host communities receive optimal benefits this time,” he said.
“The oil organization should have free emergency national numbers in place this way the habitants in the region can call when there is an event of an oil spill and also when any individual is seen digging near a pipeline route.
“The Nigerian government must be proactive in both regards to controlling oil pollution, management, and biodiversity conservation by enforcing existing regulations, laws, and policies in place, this can be achieved by enormous political support – the determination to enforce the regulations and strengthening the judiciary system, especially in oil spill-related cases.”
Mr. Soji Adeleye, the Chief Executive of Alfe City Institution in his opening remarks listed the objectives of the Niger Delta Blue Economy Investment Forum to include Advanced the national discussion on the imperative of a Blue Economy in Nigeria through practical demonstration of actual projects at the state level; Provide the platform for an individual state to exhibit their Blue Economy projects for both local and international investors; Create a mechanism for peer review amongst the state to encourage open competition; Create a database for the states to serve as a repository of information about development in the blue economy sphere; Establish thriving open source information for investment information on the Blue Economy in the region; Above all, construct a demonstrable tapestry for the youth of the Niger Delta Region of a world of opportunities that would challenge their creativity, entrepreneurial skill in contrast to a culture of entitlement and deprivation.
Adeleye, a member of the Expanded Partnership Committee on Sustainable Blue Economy chaired by Vice President Yemi Osinbajo (SAN) said, “The Blue Economy solution calls for decongestion of Lagos; to reduce the pressure on the Apapa port by encouraging the construction of new sea ports along the coast that can serve the other parts of the country.
“There should be at least 27 functional ports of varying sizes serving a growing population that is rapidly approaching a quarter of a billion people. The case for the construction of new sets of seaports along the Nigeria Atlantic Coast which these littoral states are ready to undertake is overwhelming.”
The expectations of the investment forum include that the Niger Delta region should have a clearer understanding of its role in the success of a Nigerian Blue Economy; Each state should have a broader knowledge of its potential and comparative advantage in the facilitation of the Blue Economy; The youth and people of the Niger Delta Region, should after this forum be more optimistic about the future; Local and international investors should have a clear sight of the enormous investment opportunities available to them at the region; The development and outcome of the Niger Delta Investment Forum should accelerate the national discuss on this concept and help a quick articulation of the required policy formulation and legislation passage.
It will be recalled that major stakeholders in Nigeria’s blue economy had at a three-day ‘The Nigeria Blue Economy Stakeholders Conference’ in Lagos between February 15-17, 2022 made a case for the urgent formulation of National Policy on Blue Economy to harness the immense potential in the ocean ecosystem.
Osun State Governor, Ademola Adeleke has justified the activation of the Osun State Security Trust Fund on the ground of growing insecurity and public sector funding challenges facing all levels of government.
To show commitment of the state government, Gov Adeleke announced a contribution of three hundred million naira (N300m) to the trust fund.
On his part, billionaire philanthropist and brother of the state governor, Dr. Deji Adeleke donated five hundred million naira (N500m) while several businesses contributed various amounts.
The governor also used the occasion to announce the imminent sharing of refurbished Armoured Personnel Carriers and new patrol vehicles, declaring that “the administration is determined to maintain Osun’s record as one of the most peaceful states in the country”.
Launching the security trust fund at Osogbo, the governor decried the abandonment of the trust fund initiative by the Oyetola administration, describing the implementation of the trust fund as ‘long overdue’.
According to the governor, several states in Nigeria have established security trust funds. Osun started the process but this was abandoned under the immediate past administration of Mr Gboyega Oyetola.
“Our government decided to revive the initiative by updating the law and organising the launching today. A security trust fund is a matter of necessity considering the security climate in Nigeria and Osun state.
“We all know Nigeria faces security challenges. Yet, available public financing resources are limited. Governments at all levels then initiate public-private partnership to bridge the funding gap.
“It is neither a political project nor a self-serving policy. This is a necessary policy to secure our people. Only an irresponsible government will abandon the PPP arrangement that is working so well in Lagos, Kaduna, River states among others. Ours is a responsible leadership with people-oriented innovations, policies and programmes.
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“This Fund is designed to provide sustainable funding for modern security infrastructure. Through this Fund, we will establish a modern Situation Room with real time CCTV surveillance. We will continue the provision of operational tools required by our security agencies.
The governor appreciated all individuals, corporate organisations and stakeholders that have been contacted. “We appreciate your positive disposition. Today, I am inviting, for partnership, the private sector, financial institutions, development partners, professional bodies and all sons and daughters of Osun State.
“As a trust fund regulated by law, I assure you of strict accountability, transparency and due process in the management of the trust fund”, the governor said.
Secretary to the State Government who also doubled as the deputy chairman of the trust fund, Hon Teslim Igbalaye congratulated the governor for activating the Fund after its enabling law was passed as far back as 2012 while several special guests pleaded support for the initiative.
Public Policy analysts, government officials and other stakeholders have in Lagos hailed the strategic foresight and industrial courage of the President and Chief Executive of Dangote Industries Limited (DIL), Aliko Dangote, describing the Dangote Petroleum Refinery as a transformative national asset deserving of collective appreciation by Nigerians.
This position was strongly articulated at the 2026 Bullion Lecture, powered by the Centre for Financial Journalism, where the Director‑General of the Raw Materials Research and Development Council (RMRDC), Prof Nnanyelugo Ike‑Muonso, declared that Nigerians owe Aliko Dangote a profound debt of gratitude for investing in the world‑class refinery.
Delivering the keynote lecture themed “From Resources to Prosperity: How Raw Materials Development, Value Addition and Innovation Can Catalyse Nigeria’s Industrial Renaissance,” Professor Ike‑Muonso said the refinery represents a decisive break from Nigeria’s long‑standing dependence on crude oil exports with minimal domestic value addition.
According to the RMRDC Chief, Nigeria had historically exported crude oil only to re‑import refined petroleum products such as Premium Motor Spirit (PMS), with little economic benefit beyond crude sales.
“That narrative has now changed. Instead of exporting crude and importing PMS alone, the Dangote Petroleum Refinery processes crude locally to produce PMS, diesel, dual purpose kerosene (DPK), and valuable by‑products for petrochemicals such as polypropylene. This represents complete domestic value addition.”
Prof Ike‑Muonso described the refinery as Nigeria’s most concrete example yet of how strategic industrial investment can unlock the full value of the country’s natural resources.
Against the backdrop of ongoing instability in the Middle East and its implications for global energy supply and price volatility, the RMRDC boss said the Dangote Petroleum Refinery has emerged as a stabilising force and an African‑led solution to global energy challenges.
“With the far‑reaching consequences of the Middle East crisis on global energy markets, the Dangote Petroleum Refinery stands today as a monumental demonstration of strategic foresight, industrial courage and African self‑reliance,” he said.
“Nigeria should, in fact, be praying for Aliko Dangote at this time.”
Prof Ike‑Muonso also presented comparative data on raw‑material value addition across countries, including the United States, India, Brazil, South Africa and Kenya, revealing that Nigeria records the lowest percentage of value addition.
He disclosed that the country loses an estimated $29 billion annually due to the export of raw materials without processing partly due to the energy deficit.
“Rather than exporting raw materials, Nigeria should be exporting processed raw materials and finished products,” he argued.
Identifying obstacles to achieving full value addition, the RMRDC Director‑General highlighted key structural challenges such as: Private infrastructure tax, resulting from companies’ reliance on self‑generated power; Logistics gaps, noting that only about 30 percent of Nigeria’s road network is paved; and Capability gaps within the industrial ecosystem.
He stressed that sustained industrialisation remains Nigeria’s most viable pathway to broad‑based economic prosperity, citing Dangote Industries’ investments as a model for the country.
Earlier in his remarks, Otunba Kelvin Dele Oye, Chairman of the Economic Research and Ethics Committee and former President of the National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), also commended Dangote’s industrial contributions.
He decried what he described as an imbalance in the exploitation of Nigeria’s raw materials by foreign investors, often without meaningful value addition to the local economy.
Otunba Oye called for deliberate government policies and stricter regulatory vigilance to ensure that raw material exploitation benefits Nigerians, while enabling local investors to compete favourably with foreign players.
The event, which marked the 10th anniversary of the Bullion Lecture, also featured the unveiling and launch of a commemorative book titled “Pathways to Nigeria’s Socio‑Economic Transformation.”
The book, authored by Mr. Ray Echebiri, Chief Executive of the Centre for Financial Journalism, documents all lectures delivered since the inception of the Bullion Lecture series.
Photo Caption
From Left: GMD/CEO, Dangote Cement Plc, Arvind Pathak; Chairman, Sinoma International Engineering Co. Ltd., Yin Zhisong; Consulate General of the People’s Republic of China, Yan Yaqing; President/CE, Dangote Industries Limited, Aliko Dangote; Chairman of the Board, Sinoma International Engineering Co. Ltd., Lin Zhisong and Vice President Oil & Gas, Dangote Industries Limited, Devakumar Edwin, during the Sinoma International visit to Dangote Head Office in Lagos
NEWS
Dangote Refinery Exports 1.1bn Litres of Aviation Fuel to Europe, Supplies 95% of Nigeria’s Jet A1 – AON
The Airlines Operators of Nigeria (AON) has described the Dangote Petroleum Refinery and Petrochemicals as a critical pillar of support for Nigeria’s aviation industry, disclosing that the refinery currently supplies over 95 per cent of the Jet A1 fuel consumed nationwide.
Biztellers reports that the company also exported 1.1 billion litres of aviation fuel to Europe between March and April 20.
Speaking during a televised interview, AON spokesperson Obiora Okonkwo said the refinery’s output has played a vital role in sustaining domestic airline operations at a time of global supply disruptions arising from tensions in the Middle East and rising fuel costs.
“It is a matter of fact that over 95 per cent of aviation fuel supplied across the country comes from the Dangote refinery. To airline operators in Nigeria, Dangote is not just a refinery; it is a game changer and, indeed, a lifesaver,” Okonkwo said.
He noted that despite the refinery’s consistent supply, airlines continue to face severe operational strain due to escalating Jet A1 prices, which he attributed to sharp practices within the downstream distribution chain.
According to Okonkwo, some fuel marketers are allegedly creating artificial scarcity in spite of available supply from the refinery, leading to disproportionate price increases. He disclosed that airline operators have recorded Jet A1 price hikes of up to 300 per cent since the onset of the Middle East crisis.
“We consider this exploitation. The refinery has not indicated any shortage, yet we are witnessing artificial scarcity and unjustifiable price increases. What airlines pay does not reflect depot prices,” he said, suggesting the presence of racketeering within the market.
Echoing these concerns after a closed‑door meeting between the AON and the Federal Government, Chairman and Chief Executive Officer of Air Peace, Allen Onyema, described the situation as deeply troubling, particularly given that the Dangote refinery sells its products at comparatively lower rates.
“The truth is that marketers must be called to account. How do prices rise by as much as 300 per cent when Dangote’s supply remains the cheapest and some marketers source directly from the refinery?” Onyema asked. “So, why the astronomical increase?”
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Meanwhile, the Dangote Refinery continues to expand its footprint in the international aviation fuel market. Industry data indicate that the facility exported approximately 876,000 metric tonnes of jet fuel to Europe within the period under review—about 456,000 tonnes in March and an additional 420,000 tonnes by April 20.
These export volumes underscore the refinery’s growing capacity and improved logistics, further reinforcing Nigeria’s emerging role in the global downstream oil and gas market, even as it strengthens domestic energy security.
Photo Caption
From Left: President/CE, Dangote Industries Limited, Aliko Dangote; President of Uganda, H.E. Yoweri Museveni; President of Kenya, H.E. William Ruto, and CEO of the Africa Finance Corporation, Samaila Zubairu, at The Africa We Build Summit in Nairobi, Kenya, on Thursday.
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