NEWS
US-Iran War Boosts Dangote Refinery’s Fortunes – Report
The Wall Street Journal has reported that billionaire industrialist Aliko Dangote is among the biggest beneficiaries of the disruption caused by the recent US-Iran conflict, with his $20bn refinery enjoying rising demand for refined petroleum products.
In a report published on Friday, the newspaper said Dangote was now reaping the rewards of the refinery after enduring years of delays and cost overruns that pushed the project’s cost to about $20bn.
“The huge refinery reached full capacity in February—just in time to supply the world with diesel, jet fuel and gasoline that doesn’t need to pass through the Strait of Hormuz.
“Surging demand for refined petroleum products has boosted Dangote’s wealth by some $4.86 billion since the start of the year, according to the Bloomberg Billionaires Index, bringing his net worth to about $34.8 billion.
“Dangote’s repeated bets on the rise of Africa’s middle class, from cement to sugar to salt, have helped the 69-year-old become the world’s 65th-wealthiest person,” the report read.
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It added that output from the refinery had risen by more than 70 per cent this year, driven by stronger demand for refined petroleum products.
The newspaper quoted Dangote Industries Group Vice-President, Devakumar Edwin, as saying the company plans to list the refinery on the Nigerian Exchange later this year, targeting a valuation of at least $50bn, while also pursuing a secondary listing, likely in New York.
According to the report, the energy market disruption triggered by the US-Iran conflict has benefited producers outside the Middle East, with Nigeria recording increased demand for its crude oil and refined petroleum products.
It added that the development had supported the naira and helped moderate domestic petrol prices.
Edwin also told the newspaper that demand for the refinery’s products had increased across sub-Saharan Africa, while exports of jet fuel to Europe had grown significantly this year.
He said the company plans to expand the refinery’s capacity to 1.4 million barrels per day by 2028, an investment expected to cost about $13bn.
The report stated that Dangote Industries is planning another refinery project in Lamu, Kenya, alongside a new port, with the project estimated to cost about $15bn and take about three years to complete.
However, the Wall Street Journal noted that securing sufficient local crude oil remains one of the refinery’s biggest challenges, saying the Nigerian National Petroleum Company Limited has been unable to supply the volumes required because of existing export obligations and oil-backed loan commitments.
The report added that Dangote also plans to expand its distribution network by acquiring vessels, establishing a distribution hub in Namibia and constructing a pipeline to supply refined products to landlocked African countries, including Zimbabwe, Botswana and Zambia.
Courtesy – The Punch
NEWS
Shettima, Wife Depart Abuja for Jos as Tinubu–Shettima Campaign Takes Rally to Plateau
Vice President Kashim Shettima has departed Abuja for Jos, Plateau State, alongside his wife, Hajiya Nana Shettima, ahead of the All Progressives Congress (APC) presidential campaign rally in the state.
The visit is part of the Tinubu–Shettima campaign’s engagements as the ruling party seeks to secure support for President Bola Ahmed Tinubu and Vice President Shettima ahead of the 2027 general elections.
The campaign’s visit to Plateau is expected to highlight the Federal Government’s infrastructure and economic development projects in the state, particularly those aimed at improving road connectivity, boosting commerce and supporting agricultural activities.
SEE ALSO: Tinubu, Shettima Head to Jos for APC Presidential Campaign Rally
Among the projects highlighted by the administration is the ongoing 125-kilometre Akwanga–Jos highway, which forms part of the Akwanga–Bauchi–Gombe–Maiduguri Superhighway.
Other projects include the rehabilitation of the Sharram–Garram–Babban Lamba Road in Kanke and the approved Mararaban Jama’a–Kanke–Langtang–Shendam–Ibi Road, which is expected to improve connectivity between Plateau and Taraba states.
The administration says the projects are part of its broader development agenda to connect communities, facilitate access to markets and provide farmers and businesses with improved infrastructure.
The APC campaign is expected to use the rally to present the administration’s achievements and future plans while seeking the confidence of Plateau residents to continue its development agenda beyond 2027.
NEWS
Ogun Police Disburse ₦10.6m to Families of Fallen Officers Under IGP Welfare Scheme
The Ogun State Police Command has presented cheques totalling ₦10.65 million to families and next-of-kin of deceased police officers who served under the command, as part of efforts to support dependants of personnel who died in active service.
The cheques, amounting to ₦10,658,391.36, were presented on Saturday, November 14, 2026, by the Commissioner of Police, CP Bode Ojajuni, on behalf of the Inspector-General of Police, IGP Olatunji Rilwan Disu.
The statement was signed by the Police Public Relations Officer of the Ogun State Command, DSP Oluseyi B. Babaseyi, anipr, and dated November 14, 2026.
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The presentation took place at the Command Headquarters in Eleweran, Abeokuta, under the Nigeria Police Force Group Life Assurance and the IGP Family Welfare Schemes.
The initiatives are designed to provide financial assistance to families of police officers who lost their lives while serving the country.
Accompanied by members of the Command Management Team, Ojajuni personally handed over the cheques to the beneficiaries.
Addressing the recipients, the police commissioner reaffirmed the Inspector-General’s commitment to the welfare of police personnel and their families.
He described the widows and families of the deceased officers as the “true superheroes”, acknowledging their resilience in coping with the loss of their loved ones who died in service to the nation.
Ojajuni noted that the financial intervention was a demonstration of the Force’s appreciation and institutional responsibility to support the families of fallen officers.
He said the initiative represented the Nigeria Police Force’s enduring commitment to standing by the dependants of personnel who paid the ultimate price in active service.
Responding on behalf of the beneficiaries, Mrs Ejembi Ada Veronica thanked the Inspector-General of Police and the Ogun State Police Command for remembering their families and providing financial assistance.
She assured the authorities that the money would be channelled towards the education, upkeep and general welfare of the children and dependants left behind by the deceased officers.
According to her, the intervention would provide timely relief and help improve the stability of the affected families.
The Ogun State Police Command reiterated its commitment to supporting the families of fallen officers, assuring them of its continued solidarity.
NEWS
NUPRC Screens 28 Wells Over Rivers Gas Seepage, Identifies Three as High-Risk
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has screened 28 oil and gas wells around reported gas seepage locations in Bille Community, Degema Local Government Area of Rivers State, identifying three as high-risk, as investigations continue to establish the source of the bubbling gas.
The Commission disclosed that its investigation team physically visited 14 of the 28 wells screened but could not access three others because they were submerged. During the visits, the team observed gas hissing from some wells, while some facilities were found to be corroded and others vandalised.
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The update was made on Thursday during a special technical paper presentation at the 44th Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE).
The paper, titled “Unravelling Gas Seepage and Bubbling in Nigeria: The Integrated Study Approach Towards Source Attribution,” was hosted by the NUPRC.
In his presentation, the Director of Subsurface Development at the NUPRC, Engr. Joseph Ogunsola, FNSE, described gas seepage as a new phenomenon in the Nigerian petroleum industry, prompting the Commission to constitute a team to investigate what lies beneath the bubbles.
Ogunsola was represented by the Senior Manager, Onshore Frontier Development Drilling, Mr. Azibamikiomam John-Adumo, a geologist.
He disclosed that studies conducted in one of the affected areas had helped unravel the structural threat associated with the phenomenon.
According to him, one of the wells was originally drilled in search of oil but was shut down following the discovery of gas instead.
He explained that the well is approximately 2.5 kilometres from the seepage location, adding that investigations are ongoing to establish whether the seepage originates from that particular well or other nearby wells.
He further disclosed that the distance between the seepage location and other wells ranges from 2.5 to three kilometres, noting that the area is highly explored and hydrocarbon-charged, as demonstrated by the number of wells in the vicinity.
Providing an update on the wells workstream, which falls under the facility and infrastructure component of the investigation, John-Adumo said the 28 wells were screened based on their proximity to the seepage locations and the reservoirs traversed during drilling.
He also explained that the investigation had progressed from the first reported bubble to an independent fingerprinting campaign within 12 months.
Recalling that the first seepage was observed in October 2025, he said the results of the independent investigation, using Gas Chromatography-Isotope Ratio Mass Spectrometry (GC-IRMS) and compositional field analysis, were expected in the fourth quarter of 2026.
While investigations continue, John-Adumo said the Commission and operators had mobilised relief materials and other support for affected communities.
The interventions include food supplies, medical outreach, efforts to provide potable water, fire vans and safety kits, among other assistance.
He, however, warned that if the seepage is established to be a natural geological phenomenon, residents may need to be evacuated because tracing the migration pathways and designing subsurface interventions could be much more challenging.
He reiterated the Commission’s commitment to a speedy, coordinated and integrated investigation to establish the source of the gas seepage.





