Category: Business Day

The Akodo-Ise fishing community in Ibeju-Lekki, Lagos, received an intervention from Rand Merchant Bank (RMB) in partnership with Circularity Africa. The organisations provided a solar-powered cold room and a charging facility, finally addressing the community’s 20-year power outage and storage challenges.

For years, the abundant catch from the Atlantic Ocean and Lagos Lagoon was a source of income for the community. However Malik Temitope, a fisherman, explained that the lack of preservation meant they were forced to sell their fish immediately, regardless of the price.

‘Customers know they have no means to ice them, so they price us poorly, leading to unstable income,’ Temitope said.

The new cold room, which can store up to 1,000 kg of fish, has revolutionized their economy, giving fishermen the power to determine fair prices and stabilize their earnings. Circularity Africa noted the facility meets a ‘critical need’ for the coastal community. Akodo-Ise was cut off from the National Grid in the late 1990s, a disruption Adeniyi Yusuf, community leader linked to climate change causing the encroaching ocean to destroy poles and wires. The intervention extends beyond the cold room, as RMB also distributed 10 to 15 additional solar units throughout the community.

This Corporate Social Responsibility (CSR) effort aligns with RMB’s philosophy of ‘shared prosperity.’ RMB CEO Bayo Ajayi emphasized the commitment to long-term sustainability, noting that impacting the community in a lasting way is crucial for future growth.

The launch event also included a beach cleaning exercise, with collected plastic waste sent for recycling, and the Lagos Food Bank distributed hundreds of food packs. Looking ahead, community leader Yusuf appealed for insurance facilitiesfor boat engines and nets, and financial assistance, such as loans, to help fishermen acquire essential tools like canoes and engines.

First City Monument Bank (FCMB) has teamed up with global property consultancy Knight Frank to promote investment opportunities for Nigerians seeking to acquire real estate in key international markets.

The collaboration, unveiled at a property roadshow in Abuja, aims to connect affluent clients with developers in the United Kingdom, Dubai, and parts of Europe while offering mortgage financing through FCMB.

The initiative seeks to help high-net-worth individuals and diaspora investors diversify their portfolios amid growing demand for foreign property assets.

Mounting concerns about currency volatility, education expenses abroad, and lifestyle aspirations have driven more Nigerians to seek stable real estate options overseas. FCMB says it intends to serve as a bridge between these customers and credible developers in foreign markets, working alongside its partners – Knight Frank and Gallons Consulting.

Opeyemi Makinwa, Head of Premium Banking at FCMB, said the initiative was designed to help clients build and preserve wealth through real estate while making the process less cumbersome.

‘We are trying to make that a reality by being the bridge and the conduit, bringing developers abroad to the doorstep of customers in Nigeria,’ she said. ‘We are able to do this through our partners or through our subsidiary, FCMB UK, where these customers don’t have to pay for those properties cash down.’

Makinwa explained that the bank’s lending model would allow qualified clients to acquire properties on mortgage terms benchmarked to the Bank of England rate. Each case, she noted, would be assessed individually to match clients’ financial profiles and risk appetites. She added that FCMB’s premium banking segment was designed to support customers ‘interested in creating wealth’ through investments, lending, and tailored payment solutions.

The Abuja event, which attracted prospective investors and developers, was the first in a series of property showcases the bank plans to host in Nigeria. The next stop was Lagos, with additional roadshows expected in other major cities such as Port Harcourt. The goal, according to Makinwa, is to make it easier for Nigerians to invest in property abroad without the friction often associated with cross-border transactions.

‘For us, it’s about making life easy for our clients,’ she told BusinessDay. ‘We realise these customers are time-poor and already engaged in building their wealth. We want to remove financial hurdles and provide seamless payment, lending, and banking solutions that support their aspirations.’ The partnership draws on the strengths of each participant: Knight Frank brings global property listings and developer relationships; Gallons Consulting acts as a connector between the Nigerian and UK markets; while FCMB provides the financial structuring and lending facilities to complete transactions. The trio hopes to capture growing demand from affluent Nigerians seeking both returns and lifestyle value from international property ownership.

While this is the first joint showcase between the partners, they are optimistic about the long-term potential. Makinwa said early interest has been encouraging, with the Abuja event drawing strong engagement from prospective buyers. She estimated that initial uptake could reach around 40 percent, rising to 80 percent as awareness and trust build over time.

Lanre Sonubi, Head of Marketing and Corporate Communications at Knight Frank Nigeria, said the collaboration leverages each partner’s comparative advantage to deliver an end-to-end solution.

‘Knight Frank is a global real estate consultancy, and we have options at our fingertips through our working relationship with world-class developers,’ he said. ‘FCMB is the financial partner providing mortgage facilities to intending buyers, while Gallons Consulting bridges the regulatory and transactional aspects between both markets.’ Sonubi said the partnership will cater to a broad spectrum of investor motivations – from parents buying student accommodation for their children abroad to investors seeking rental income or long-term appreciation.

‘Some are buying because they need a home in the UK, some because they want rental income, and others because they want capital appreciation,’ he said. ‘Our role is to connect people and property perfectly.’

For FCMB, the initiative fits into a broader strategy to deepen relationships with affluent clients and expand its footprint in the wealth management and mortgage space.

For Knight Frank, the collaboration underscores its philosophy of partnerships and shared success. ‘We don’t believe in working alone,’ Sonubi said. ‘If we can reach ten people alone, we believe we can reach 1,000 people together. With the pedigree of FCMB, the experience of Gallons, and our global reputation at Knight Frank, we believe that together we can achieve our objectives.’

In a step towards redefining property valuation in Nigeria, One SquareMetre, a real estate innovation firm, has launched Property Estimator, a web-based automated valuation model (AVM) designed to enhance transparency, accuracy, and professionalism in the country’s real estate sector.

The website, unveiled at a recent event in Lagos, promises to transform the way property assessments are conducted by providing a data-driven, globally accessible platform that bridges the gap between valuers and clients.

Speaking at the launch, Dotun Bamigbola, CEO of One SquareMetre and a past chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos Branch, described the platform as a ‘game changer’ for property assessment and valuation practice in the country.

‘PropertyEstimator.ng ensures accuracy, uniformity, and promotes transparency between clients and valuers. It’s not just a professional tool, it’s a public resource that helps clients understand the logic behind valuations and allows valuers to back up their work with a standardised methodology,’ Bamigbola explained.

He added that the app tackles two critical challenges in valuation practice, methodology and data, by standardising processes and encouraging users to input reliable information, which would in turn strengthen the credibility of valuation reports.

‘If we have solved the methodology issue here, then definitely the data problem is going to be solved. This tool brings both parties, valuers and clients, to a common ground using uniform valuation principles,’ he said.

According to Bamigbola, the app has already attracted attention beyond Nigeria’s borders. ‘Practitioners from the UK and Australia have tested it, and we are in talks with other African countries. Our goal is to make this a gift from Nigeria to Africa and the world,’ he added.

Speaking at the event, Edison Emoabino, managing director and CEO of IHMS HMO, emphasised that integrating technology into valuation practice was no longer optional but essential for maintaining global standards and professional relevance.

‘The future of valuation is being written in data, algorithms, and insight, but guided by the wisdom of experienced professionals,’ he said. ‘Technology should not replace the valuer; it should enhance their capacity to deliver faster, smarter, and evidence-based results.’

Emoabino cited innovations such as Zillow’s Zestimate in the U.S., Kenya’s GIS-based Land Information System, and blockchain-backed land registries in Ghana and South Africa as examples of how digital tools are reshaping global valuation standards.

In his welcome address, veteran valuer L. L. Eso praised the innovation as a landmark achievement that honours the legacy of Nigeria’s estate surveying pioneers while positioning the profession for the future.

‘This innovation will radically change the way we work as estate surveyors and valuers, and command more respect in the marketplace as a forward-thinking profession,’ Eso stated, urging professionals to embrace digital transformation.

Representing the permanent secretary, Lagos State Lands Bureau, Yetunde Olusegun, director of land services, commended the initiative, describing it as a timely advancement that aligns with the state’s ongoing efforts to digitise land administration.

‘This is a welcome development that will bring transparency and uniformity to valuation, acquisition, and compensation matters. By plugging into this innovation, both professionals and government agencies will benefit immensely,’ she said.

If you are a nature lover and also on the lookout for an enthralling domestic offering, the Oguta Wonder Lake is a good deal.

‘Oguide’, as called by the locals, the wonder lake is a reason to visit Imo State.

About 45-minute-drive from Owerri, the Imo State capital, and 27 kilometers on the ever-busy Owerri-Onitsha Expressway from Mgbidi junction, takes visitors far into the heart of Oguta town to encounter pristine Mother Nature at the lake.

Spanning over 18 kilometres of shoreline, the lake is the second largest fresh water lake in the Nigeria, after Lake Chad. But with the rate at which water at Lake Chad is receding, Oguta might be the biggest fresh water lake soon.

Void of brine, smarting in the eyes and harmful creatures, the lake caresses visitors’ eyes with its pleasing view, while the evergreen environs ooze out fresh breeze that continuously purify the atmosphere within.

From swimming, cruise boat ride, fishing to many other water sport activities, visitors always find fun to indulge and enjoy at the lake.

Moreover, there is a confluence to explore at the lake. A boat cruise to the natural confluence of Njaba River and Urashi River, offers a mini River Niger and River Benue confluence experience at the lake. The locals and commercial boat services are always on hand to offer you a ride to the confluence point. But when you get to the link point, the two rivers still maintain their distinct nature and colouration.

No doubt, the huge size, distinct nature, the serenity of the environment and the tropics within stand the lake out as the premier tourist attraction in Imo State.

However, the lake is alive with visitors during weekends when a whole lot of people from Owerri and Onitsha come around for special outdoor outing.

Beside the lake itself, history left relics that visitors also throng to behold.

In the 1900s, the town was a commercial centre and home to the Royal Niger Company, G.B. Ollivant, SCOA Group, John Holt and the Miller Brothers, among others. Then the lake was a port for the evacuation of palm products.

Though the commercial success now belongs to history, the relics of the jetties used by some of the colonial companies still exist today.

But one part of history that is alive at the lake is a bunker with a tunnel that runs under the lake, connecting both banks of the lake. It was built during the Nigeria-Biafra Civil War of 1967-1970 by the Biafran Navy that used the lake as a marine base.

Despite dividing the town into two, along the natural boundary of the water, the lake actually defines the essence of the people as many pay respect to it. It is quite peculiar in nature. It is still the source of livelihood, transportation and fun for many residents of the town.

Of course, the town, which hosts the lake, is full of history, prominence and nature. The first impression that strikes first-time visitors is the sprawling mansions along the major roads that speak volume of the wealth in the land.

But before you leave Oguta, there is still one breathtaking sight to see.

It is the very imposing iconic mansion or rather empire of Arthur Nzeribe, located atop of a hilly landscape and far away from prying eyes in the layout.

It reminds one of the heydays of the late maverick politician.

As well, Oguta is the hometown of Chukwudifu Akune Oputa (late retired justice of the Supreme Court, who also chaired the famous Human Rights Abuse Investigation Panel (Oputa Panel).

Why not keep a date with the town and its attractions. You will definitely see Oguta from a bird’s eye view, especially now that traveling abroad for vacation comes with huge costs and risks.

Polaris Bank has reaffirmed its commitment to supporting small and medium-scale enterprises (SMEs) and driving economic growth in Nigeria’s South-South region with the commissioning of the new ‘Everyday Supermarket’ Yenagoa Store.

The grand opening, which took place at Bay Bridge Junction on the Kpansia-Epie Expressway, Bayelsa State, marked the retail chain’s entry into the Bayelsa market and a significant milestone in the region’s business expansion efforts.

Speaking at the event, Raphael Abaziem, Directorate Head, Polaris Bank, South-South, described the launch as a testament to growth, resilience, and the power of strategic partnership.

‘This milestone represents more than the opening of a new outlet. It speaks to our shared vision of economic expansion, local enterprise development, and improved access to quality goods and services for the people of Bayelsa State,’ Abaziem stated.

He further noted that the new outlet builds on earlier successes, including Polaris Bank’s financing of the Everyday Group’s flagship shopping complex in Port Harcourt in February, 2025.

‘When we partner, we empower, expand, and raise the bar for retail development across Nigeria. Polaris Bank is proud to have supported this journey and to stand with ‘Everyday Supermarket’ as it extends its footprint and impact. We look forward to deepening our collaboration and continuing to support businesses that are creating opportunities, empowering communities, and driving sustainable development across the country,’ he added.

In his remarks, Yemi Osindero, chairman of ‘Everyday Supermarket’, expressed delight at the brand’s expansion into Bayelsa, noting that the group continues to grow from strength to strength.

‘Everyday Group is 28 years old, with 15 stores across the South-East and South-South, including Owerri, Asaba, and Abakaliki. We are excited to be in Yenagoa for the first time and look forward to opening more stores in Bayelsa. Plans are also underway to expand into Aba, Benin, Uyo, Enugu, and Abuja,’ Osindero said.

The launch of the Yenagoa branch underscores Polaris Bank’s role as a key enabler of enterprise development and its commitment to supporting businesses that drive local economic empowerment and regional growth.

Delta Air Lines is getting ready to meet the strong demand for travel during the busy winter and holiday period by enhancing the travel experience for customers with the deployment of its next-generation Airbus A350-900 and A330-900neo on the Lagos to Atlanta route.

The seasonal upgrade is designed to meet the strong demand for travel during the busy winter and holiday period, while offering customers more comfort, an improved onboard experience across all cabins of service, and increased cargo capacity.

Through late November, customers will see the route operated using a mix of A350-900 and A330-900neo aircraft.

From early December, all flights between Lagos and Atlanta are scheduled to be operated exclusively with the A350-900, Delta’s leading long-haul international aircraft. Operations with these aircraft types will continue throughout the winter season, catering specifically to the surge in holiday travellers and increased cargo demand.

Both the A350-900 and A330-900neo represent Delta’s latest generation of widebody aircraft, featuring the airline’s premium interiors and signature four-cabin experience, Delta One® Suites, Delta Premium Select, Delta Comfort, and Delta Main.

Each cabin is designed to deliver a superior onboard experience with enhanced privacy, space, and personalised service.

‘Deploying our A350 and A330-900neo on the Lagos-Atlanta route for the winter season enables Delta to meet growing customer demand while delivering a premium experience our travellers will love,’ said Mary Gbobaniyi, Manager, Sales, West Africa.

‘The added seat capacity and cargo capability are essential during this period when families reconnect and trade activity intensifies between Nigeria and the United States.’ The Airbus A350-900 is one of Delta’s next-generation aircraft for long-haul operations and one of the most technologically advanced aircraft in the sky.

It offers increased seating capacity, ambient lighting, and quieter cabins designed to reduce fatigue and enhance comfort on long-haul journeys, combined with improved fuel efficiency and expanded cargo capacity, supporting both passenger and freight needs during one of the busiest travel periods of the year.

Delta One® customers will enjoy lie-flat seats, chef-curated meals paired with Taittinger champagne and exclusive Missoni-designed amenities.

Delta Premium Select provides wider seats with deeper recline and enhanced amenities for a more spacious and relaxing journey, while Delta Comfort offers extra legroom, earlier boarding and dedicated overhead bin space. Across all products, travellers benefit from curated dining and Delta Studio entertainment, which features more than 1,000 hours of free seatback entertainment, including a wide variety of movies, series, curated playlists, podcasts, and an extensive selection of games.

Also, SkyMiles Members can enjoy fast, free Delta Sync Wi-Fi powered by T-Mobile.

Delta has served Nigeria continuously since 2007, providing a vital air link between West Africa and the United States.

The Lagos to Atlanta service offers connections to major cities across North America, reinforcing Delta’s role as a leading carrier for transatlantic travel.

A total of 70 parcels of cocaine factory-packed inside containers of cocoa butter formula body cream and destined for London, United Kingdom, have been uncovered at the export shed of the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos, by operatives of the National Drug Law Enforcement Agency (NDLEA), with three suspects arrested in a series of follow-up operations across Lagos.

The cocaine consignment, weighing 3.60 kilograms, was discovered on October 14, 2025, during an examination of cargoes packaged as personal effects bound for London on an Air Peace flight, according to Femi Babafemi, NDLEA’s director of Media and Advocacy.

Babafemi said the cargo agent, Lawal Olakunle, who presented the consignment for air freight, was promptly arrested, while investigations spanning two weeks led to the arrest of two principal suspects linked to the attempt to export the concealed Class A drug to the UK.

In a follow-up operation on October 18, a female healthcare worker, Ogunmuyide Deborah, was arrested, leading to the subsequent arrest of Mutiu Adebiyi, the chief executive officer of a travel agency, Mutiu Adebiyi and Co., at his office located at 23 Ladoke Akintola Street, Ikeja GRA, Lagos, on Monday, October 20.

In a similar development, an attempt by a 35-year-old Lesotho national, Lemena Mark, to export 103.59 grams of methamphetamine concealed in a Diabeta Herbs Coffee Tea pack to the Philippines on an Ethiopian Airlines flight from the Akanu Ibiam International Airport (AIIA), Enugu, on Wednesday, October 22, was thwarted by NDLEA officers, who arrested him and recovered the illicit drug.

The NDLEA said, ‘No fewer than 21,950 capsules of Tramadol 250mg concealed inside a 100-litre water heater were recovered from a suspect, Umar Abubakar, 40, who was arrested by NDLEA operatives at Bode Saadu, Moro Local Government Area of Kwara State, following credible intelligence.’

In Lagos, NDLEA operatives, in the early hours of Sunday, October 26, raided Proxy Nightclub at 7 Akin Adesola Street, Victoria Island, where a drug party was underway. Over 100 suspects, including the owner of the club, Mike Nwogu, popularly known as Pretty Mike, were arrested and taken into custody for screening.

Cartons of illicit substances, including Loud and laughing gas, were recovered from the suspects at the party and from the club’s store.

‘The raid followed intelligence about the planned drug party. NDLEA operatives, who had been embedded at the event from 11 p.m. on Saturday, October 25, disrupted the gathering at 3 a.m. on Sunday, October 26, in line with Standard Operating Procedures (SOPs),’ the agency said.

In Taraba State, NDLEA officers arrested Auwal Musa, 26, and Salihu Bala, 22, with 450,000 pills of Tramadol and Exol-5 at the Dan-Anacha checkpoint while conveying the consignment in a truck loaded with building materials from Onitsha, Anambra State, to Mubi, Adamawa State.

The NDLEA said its officers on patrol along the Okene-Lokoja Highway in Kogi State seized 162.2kg of skunk, a strain of cannabis, from a truck on Friday, October 24. Similarly, operatives in Nasarawa State, on Wednesday, October 22, recovered 128kg of the same psychoactive substance from a suspect, Abubakar Muhammad, 55, in the Keffi area of the state.

A mother of two, Oyonumoh H. H., and a man identified as Effiong, said to be a major distributor of Canadian and California Loud, both potent strains of cannabis, in Lekki, Ajah, Ikoyi, Victoria Island, and VGC areas of Lagos, were arrested by NDLEA operatives on Friday, October 17.

The arrest was made during a raid at her Lekki residence, where 500 grams of the illicit substances were recovered.

In the Ikorodu area of Lagos, NDLEA officers, on Thursday, October 23, raided the home of a suspect, Ogunyabo Adenigbigbe, at Solomade Estate, where 275 litres of ‘skuchies,’ a new psychoactive substance produced with blackcurrant drink, cannabis, and opioids, were recovered.

A 75-year-old grandfather, Echendu Onuoka, was arrested on Wednesday, October 22, at Ovum Village, Obingwa LGA, Abia State, with 4.7kg of skunk, while a 60-year-old grandmother, Aukana John, was nabbed with 225 grams of the same substance at Apanta Village in the same LGA.

While 150kg of skunk was recovered during a raid at Lot Camp, Ikun Akoko, Ondo State, two suspects, Bashir Mohammad, 50, and Samini Tijjani, 35, were arrested with 234.5kg of the same substance at Yan Aya, Saminaka, in Lere LGA, Kaduna State, on Friday, October 24. Another set of suspects, Isah Usman, 50, and Salvation Okoler, 18, were arrested along the Abuja-Kaduna Highway with 8,600 pills of Tramadol 225mg and Rohypnol.

At the Seme border area of Lagos, NDLEA operatives, on Wednesday, October 22, arrested Jacob Ojugbele with 55kg of skunk at Ashipa, Badagry, while Amusa Oluwabukola was arrested with 121.3 litres of skuchies at Itoga, Badagry.

In Zamfara State, NDLEA operatives on patrol along the Gummi-Anka Road, on Monday, October 20, arrested a suspect, Abubakar Ibrahim, 30, in possession of an AK-47 rifle and 1,746 assorted rounds of ammunition for AK-47 and GPMG rifles while transporting them from Sokoto to Bagega Forest, Anka LGA, Zamfara. Both the suspect and the exhibits have been handed over to the appropriate security agency for further investigation.

The agency said it is pursuing its war against drug crimes with renewed vigour across all its commands and formations nationwide.

It added that it has continued to intensify the War Against Drug Abuse (WADA) sensitisation activities in schools, worship centres, workplaces, and communities across the country over the past week.

‘These include WADA sensitisation lectures for students and staff of Asabari Grammar School, Iluwa Isale Oke, Saki West LGA, Oyo State; Government Day Girls Secondary School, Birnin Kebbi, Kebbi State; St. Mark’s College, Nsude, Enugu State; Kusaki Secondary School, Gboko North, Benue State; Government Day Secondary School, Serti-Baruwa, Gashaka LGA, Taraba State; Police Children School 2, Port Harcourt, Rivers State; and Hajara Ahmad International School, Tudun Wada, Kano State, among others,’ the NDLEA said.

Taiwo Akinola, the presiding Archbishop of Rhema Christian Church and Towers (RCCandT) Sango-Ota, Ogun State, has called on the Church in Nigeria to invest more in deepening the peace across the country.

Akinola said the Church is non-partisan and must maintain its stand as advocates of righteousness, justice, and peace in the larger society. He reiterated that Nigerians must promote social harmony, saying ‘peace is the bedrock of progress.

‘.because parties have interests, but the church should rather support the truth, and advocate for the truth, push for the truth, campaign for the truth, and so on,’ Akinola said during the 34th World Convention of Rhema Christian Church press conference, held on Thursday October 23, 2025 in Sango-Ota.

Themed, ‘The God of All Possibilities’, Akinola disclosed that this year’s convention promises to usher in a new dimension of experience in the power of the Holy Spirit. According to him, the convention will usher worshipers into a dawn of refreshing and revival.

‘As a Church, we deeply appreciate the Lord for His enduring mercies and the grace He has so clearly bestowed upon us over the past 34 years. ‘We believe God will use this gathering to release dramatic solutions to life’s challenges and to unleash fresh divine interventions across all dimensions of our personal and national life – for with our God, nothing shall be impossible,’ Akinola said.

The weeklong convention will commence on Sunday November 2, which is the anniversary date of the founding of Rhema Christian Church with an anniversary lecture centred on the theme, and end on Sunday November 9, 2025.

Among other things, the church will celebrate its annual ‘Hosanna Night’ on Friday November 7, with an explosive night of high praise, power, worship, and wonders to celebrate God’s faithfulness to the ministry in the last 3 years.

Ireti Akinola, presiding bishop, Rhema Christian Church, said women are very important in missionary work, while speaking to the critical roles women play during the annual convention and by extension, the larger society.

‘If you see many men in the society who are misbehaving, who are embezzling money, most of the time, it is to please the women in the homes.

‘Women have a role in helping their husbands and the men in their lives, to live lives that are upright, not to pressure them into doing evil. So, a woman is either a daughter, a wife, or a mother. So in all those areas, primarily the woman is very important. Not to talk of positions in her various careers – which is also very important,’ she said.

Governor Alex Otti of Abia State, has flagged off the construction of the 13.5 Ariam-Usaka Ring Road in Ikwuano Local Government Area (LGA) of the State.

Governor Otti, in an address at the ceremony, Friday, at Obeama Ariam Model Primary School, said that fixing Ariam-Usaka ring road, would signal the beginning of a new cycle of investments that would ultimately transform Ikwuano into the next frontlines of opportunities and prosperity.

He said that the Ariam-Usaka Ring Road has been designed as an economic enabler for the people of Ikwuano in particular and the entire Abia at large, because of the interconnectivity of agriculture and general scope of entrepreneurship in the area. He disclosed that his government is making plans to commence other road infrastructure development design and execution when the 2026 budget cycle comes on stream, adding that,

‘The grand plan is to connect communities within Oloko, Oboro, Ibere and Ariam to each other and to the clans and communities in Bende, Umuahia North and South LGAs,’ Governor Otti stated.

He thanked the people of Ikwuano for their sustained support since 2015.

‘We have dedicated the whole of this day to Ikwuano as our way of saying thank you to our people for standing firmly by us, believing in the sincerity of our campaign for a new political order and for the significant sacrifices you made to keep the ship afloat in the days of great turbulence. ‘Abia is better today, because you insisted that our great State deserved better than what it had yesterday.

The Governor assured the Ariam-Usaka people that the contractor would get every support he needs to complete the project within 12 months.

He noted that the project is dear to him because of the potential it holds for the transformation of the economic and social experiences of the people, acknowledging that the region, is one of the major agricultural belts in the State. Governor Otti, urged the people to continue to be steadfast in their support for his administration, and refuse to be misled by those who flourish in dishonest communication and ignoble lies.

He appreciated Don Otumchere Oti, the commissioner for Works, and the leadership team at the Ministry for their culture of hard work and professionalism.

Austin Akobundu, the senator, representing Abia Central Senatorial zone, in the national assembly, lauded the Governor for remembering his constituents with the flagging off the project.

Otunchechere Oti, commissioner for Works, thanked the Governor for approving the construction of the road and enjoined the people to own the project.

Nigeria’s Dangote Group is embarking on a bold expansion of its oil refining complex, with plans to more than double capacity to 1.4 million barrels per day (bpd) by 2028, a scale that would make it the largest single-site refinery in the world and strengthen Nigeria’s drive toward energy self-sufficiency.

Announcing the plan in Nigeria’s commercial capital on Sunday, Aliko Dangote, president of the Dangote Group, said the decision underscores the company’s confidence in Nigeria’s economic prospects and Africa’s ability to lead the next phase of global industrial transformation.

‘We are expanding the Dangote Refinery from 650,000 barrels per day to 1.4 million barrels per day,’ Dangote said. ‘When completed, this will be the largest refinery ever built at a single site, surpassing India’s Jamnagar refinery.’

Dangote described the project as an endorsement of President Bola Tinubu’s industrialisation agenda and his push to make Nigeria a net exporter of refined petroleum products.

‘This expansion reflects our belief in Africa’s potential and our commitment to building energy independence for our continent,’ he said.

According to Dangote, the expansion will be completed within three years, with construction leveraging existing infrastructure such as ports, land, and logistics systems established during the refinery’s first phase.

‘It will take much less time this round because we already have the foundation – the port, the land, the pipelines,’ Dangote said. ‘We know where all the challenges lie from experience.’

While declining to disclose the total investment value, Dangote confirmed the project had been ‘fully costed internally.’ The first phase of the refinery, which began operations earlier this year, cost roughly $20 billion.

The new line will mirror the design of the current 650,000 bpd facility, ensuring redundancy and continuous output during maintenance shutdowns.

‘Even if you shut down one line for 40 days, the other keeps running at 50% capacity,’ he explained. Dangote acknowledged that crude availability had posed difficulties in the refinery’s early months, with some Nigerian producers preferring to export their oil rather than sell locally. But he said recent government policies now prioritise domestic refining.

‘At 650,000 barrels a day, you can struggle for feedstock,’ he admitted. ‘But the President’s policy is clear, we cannot keep exporting crude and importing fuel. That must change.’

Nigeria currently pumps about 1.8 million bpd, below its OPEC quota, but Dangote said the government’s target of 2.4 million bpd would provide enough supply to serve both domestic refiners and exports. ‘If we were once at 2.4 million, we can get there again,’ he said. ‘With investment and policy consistency, Nigeria can easily meet the needs of local refiners.’

The expansion will create over 65,000 jobs during the construction phase and significantly boost output from the petrochemical complex. Polypropylene production will double from 900,000 metric tonnes to 2.4 million tonnes annually, while fuel quality will be upgraded from Euro 5 to Euro 6 standards, among the cleanest globally.

‘Over 85percent of our workforce will be Nigerian,’ Dangote said. ‘We’re building not just infrastructure but human capital. Our goal is to refine opportunities for our people.’

The refinery’s power generation capacity will also be expanded from 500 megawatts to 1,000 megawatts, ensuring uninterrupted operations and potentially supplying nearby industrial users.

Dangote called on other investors to join the federal government’s effort to expand local refining, stressing that competition will strengthen the sector and ease supply constraints.

‘We don’t want to be the only player,’ he said. ‘There are people with more cash than we have. They should go and buy or build refineries so no one talks about monopoly.’

He confirmed that several companies are already in discussions with Nigerian National Petroleum Company (NNPC) Limited to revive dormant refineries through joint ventures.

‘A $1 trillion economy doesn’t come easy. Everyone must play their part,’ Dangote said. ‘We are doing ours.’

As part of its long-term vision, Dangote revealed that the refinery and petrochemical complex will list on the Nigerian Exchange (NGX) by 2026, allowing Nigerians to invest directly in the nation’s most ambitious industrial project.

‘We want Nigerians to own part of this refinery,’ he said. ‘It should belong to the people whose oil it refines.’

He also said that the refinery’s operations have already stabilised local fuel markets, helping to curb supply disruptions that have plagued Nigeria for years.

‘For the first time in decades, Nigerians can approach the festive season without fuel scarcity,’ Dangote said. ‘We’ve had stable prices and consistent quality since production began.’

Dangote expressed gratitude to the federal and Lagos State governments, local communities, and financing partners for their continued support. He described the refinery’s next phase as a testament to ‘Nigeria’s resilience and leadership potential.’

‘This expansion is not just about capacity,’ he said. ‘It’s a statement of confidence, in our people, in our leadership, and in the future of this continent.’