News
The ‘Foolish Man’ and His Mega Refinery Complex.
Bayo Onanuga
Some years ago, Aliko Dangote, Africa’s richest man invited media leaders to a luncheon at then Protea Hotel in Ikeja to mark his 55th birthday.
Some of his guests sat around him at the centre table. They chatted freely. Discussions about our country, the state of the economy soon veered into discussing the absurdity of our country, being a major crude exporter, and also a major importer of refined petroleum products. Our colleague from a major business paper said the local conditions were unfavourable to any investor who wanted to build a refinery. He then made a remark that I believe he would live to regret: “Only a foolish man will build a refinery in Nigeria”.
Aliko who had listened to all our business and political pontifications, interjected: “I am that foolish man”. A pin drop silence enveloped the table as he dropped the unexpected news: “My company has just decided to build a refinery in the country. But we are doing it big”. Those were his exact words, as the multi-dollar billionaire told us he was willing to spend close to $9 billion on the project.
The media big man became speechless. The rest of us caught the contagion of being flummoxed as well, as Aliko expatiated on the project. He said it will be a petrochemical complex. As the project was still on the drawing board, he did not tell us it will be the biggest refinery in the world, capable of processing 650,000 barrels of crude. All the hint he gave was that it will be ‘big’. Our takeaway was that it will be big like Aliko’s involvement in cement, sugar, pasta and other businesses.
He didn’t say it will include a fertiliser plant and a power plant that can supply enough electricity to Nigeria’s South West, excluding Lagos.
Initially billed for Ogun State, the Dangote Petroleum Refinery surprisingly shifted location to Lagos, just opposite the creek separating the two states. Governor Dapo Abiodun may want to probe his predecessor, Ibikunle Amosun, why he allowed the complex to move to neighbouring Lagos.
The gigantic project is now sitting in all majesty in the Lekki Free Trade Zone in Ibeju-Lekki, covering a land area of approximately 2,635 hectares, seven times the size of Victoria Island.
The complex is the world’s Largest Single-Train 650,000 barrels per day Petroleum Refinery with 900 KTPA Polypropylene Plant.
It comes with a 435 MW Power Plant, which will be able to meet the total power requirement of Ibadan DisCo of 860,316 MWh covering five States including Oyo, Ogun, Osun, Kwara and Ekiti.
The refinery, according to its fact sheet, can meet 100% of the Nigerian requirement of all refined products, including Gasoline,Diesel, Kerosene, and Aviation Jet.
It will also be able to produce surplus of each of these products for export.
Designed for 100% Nigerian Crude, the refinery has flexibility to process other crudes. No wonder it is located near the sea shore.
Today President Muhammadu Buhari commissioned the gigantic petrochemical complex.
Just as we rejoice with Aliko Dangote and the Dangote Group family, we need to give kudos to the Buhari administration for ensuring that the complex comes to fruition, by ensuring that it was not starved of needed foreign exchange and taking a stake in it.
For Aliko, all is well that ends well. The complex will bring to an end our country’s many decades of shame, for being unable to refine its crude and having to depend on importation, wasting scarce forex.
The ‘foolish man’ of 11 years ago has demonstrated once again that he is a man of wisdom, a peerless shrewd investor who sees clearly the ‘bigger picture’, when his compatriots are bogged down by parochialism and immediate monetary gains.
By Charity Ebi
Hon. has formally assumed office as the Coordinator of the City Boy Movement (CBM) in Ekeremor Local Government Area of Bayelsa State, pledging dedication to service and community development.
Speaking following his inauguration, Negerese described his new role as a call to responsibility and commitment rather than a mere title. He assured residents that his leadership would focus on delivering impact and fostering hope across the local government.
He expressed gratitude to God for what he described as divine grace and acknowledged the support of key political leaders and stakeholders, including the Governor of Bayelsa State, , and his deputy, . He also appreciated the Minister of State for Petroleum Resources, , for his encouragement and backing.
The newly inaugurated coordinator further thanked the leadership of the City Boy Movement, particularly the State Director-General, , as well as members of the organisation for entrusting him with the responsibility.
Negerese paid special tribute to the people of Ekeremor, including youths, women, and elders, for their support and participation in the process leading to his emergence.
He pledged to work collaboratively with stakeholders to promote development, empower residents, and strengthen unity within the area, expressing optimism about building a more vibrant and progressive Ekeremor under his coordination.
By Favour Bibaikefie
YENAGOA — Former Nigerian Ambassador to Sweden, Godknows Boladei Igali, has commended the visit of President Bola Ahmed Tinubu to Bayelsa State, describing it as a significant step in advancing development efforts in the Niger Delta.
In a statement released on Friday, Igali said the President’s presence in the state for the commissioning of major projects underscores the Federal Government’s renewed focus on infrastructural growth in the region. He characterized the visit as timely and impactful, noting that it reflects a broader commitment to addressing development needs in oil-producing communities.
The former envoy also praised the administration of Governor Douye Diri for delivering key projects designed to enhance living standards and stimulate economic activities across the state. According to him, the ongoing infrastructure initiatives represent meaningful progress in Bayelsa’s development trajectory.
The National Chairman of the Pan Niger Delta Fo observed that the newly completed projects are expected to improve connectivity, boost commercial activities, and open up employment opportunities, particularly for young people in the state.
Igali further urged residents to accord the President a warm reception, emphasizing the importance of unity and collective support for policies that drive national development.
President Tinubu’s visit includes the inauguration of several strategic projects executed by the state government, a move widely viewed by stakeholders as strengthening collaboration between the Federal Government and subnational authorities in fostering sustainable growth.
By Favour Bibaikefie
YENAGOA — The Ijaw National Congress (INC) has reaffirmed that its rescheduled national elections will hold on April 13, 2026, declaring its Electoral Committee (ELECO) fully prepared and cautioning against any directive capable of undermining the process.
The resolution followed an expanded National Executive Council (NEC) meeting held on April 9 at Ijaw House in Yenagoa, convened to assess the level of preparedness for the forthcoming elections.
INC NEC Affirms ELECO Readiness
In a communiqué issued at the end of the meeting, the NEC unanimously endorsed the report presented by ELECO, expressing satisfaction with the level of preparedness and affirming that the elections would proceed as scheduled.
The council stated that members “endorsed the report of the ELECO… that the rescheduled INC National elections should hold on the 13th of April 2026 as planned.”
It further noted that concerns raised at a stakeholders’ meeting convened by the Bayelsa State Government in March had been adequately addressed.
Affirmation of Electoral Independence
The NEC stressed the need to preserve the independence of the electoral body, directing that ELECO be allowed to carry out its responsibilities without interference.
According to the communiqué, ELECO is to “carry out its assignment without interference from other organs of Congress, except to receive logistics support from the NEC.”
The council also expressed confidence in the committee’s readiness, particularly in the preparation of both sensitive and non-sensitive election materials.
Clarifies CITRE’s Role
In a move seen as addressing internal governance concerns, the NEC clarified the constitutional role of the Conference of Ijaw Traditional Rulers and Elders (CITRE), describing it as an advisory organ in line with Article 14(D) of the INC 2019 Constitution.
It noted that CITRE’s functions in election matters are limited to clearing nominees and managing disputes arising from the electoral process, similar to the role of the Board of Trustees (BOT).
The NEC, however, reiterated its openness to constructive input from CITRE, BOT and other organs, provided such advice aligns with the overall interest of the Congress.
INC Discourages Misinformation
The council issued a strong advisory to the public and stakeholders to disregard any information or directive inconsistent with the official position of ELECO.
“The general public is therefore advised to discountenance any information or directive that runs contrary to the position of the ELECO…,” the communiqué stated.
NEC Attendance Across INC Structures
The meeting drew a wide representation of leadership across the INC structure, including NEC members, BOT officials, CITRE leaders, National Representative Committee (NRC) members, zonal executives and chapter representatives.
Among those in attendance were INC President, Prof. Benjamin Okaba; National Secretary, Engr. Ebiowei Wodu; Acting Chairman of CITRE (East), HRH (Gen. Rt.) B.A. Fipinimama; ELECO Chairman, HRM (Justice) Dr. F. F. Tabai; and ELECO Vice Chairman, HRM Seiyifa Koroye.
Others included ELECO Secretary, Dr. Otobo Choice Jamaica; former INC President, Prof. A.W. Obianime; National Legal Adviser, Bomo Tons Fetepigi Obhe; National Organising Secretary, Onengiyeofori Fenibo; and Leader of the NRC, HRH (Dr.) Anyanate Kio.
Also present were CITRE leader, HRH Okoko Stample Esau (PhD); BOT Vice Chairman, Chief M. Tiemo; BOT Secretary, Barr. Fidelis Agbiki; National Treasurer, High Chief Philip B. Agu; National Women Leader, Alali R. Danagogo; and Vice President, Rose Obuoforibo.
Chapter and zonal representatives included Barr. Agha Toru-Ibe (Benin City Secretary), Ephraim Gogo (Benin City Chairman), Tonye Harry (Lagos Chairman), A. Elayelagha (Lagos Secretary), Daniel Ebijor Tonibor (Abuja Chairman), Tete K. Friday (Abuja Assistant Secretary), Ajele Ayokeji Johnson (Akure Chairman), John Ebiofini (Akure Secretary), and Chief Bare Etolor (Chairman, Ijaw Elders Forum).
Others were HRH Akcheseinimie Micah Frank (BOT member), Princess Ebiseni Adesola Joyce (NRC Deputy Leader), Elder Gabriel Benamiensia (NRC Clerk), Karibo Lawrence (Eastern Zone Vice Chairman), God’swill Seke (Central Zone Secretary), Mrs. Peremo Isenali Opiali (National Welfare Secretary), and King Koma A. Eteko (CITRE Deputy Chairman).
The NEC’s resolution is widely interpreted as a strategic effort to consolidate authority within the INC and prevent internal divisions ahead of the elections.
By reaffirming ELECO’s independence and clarifying institutional roles, the leadership appears focused on ensuring a credible, transparent and conflict-free electoral process.
With the April 13 date now firmly set, attention will shift to the conduct of the elections and the ability of the Congress to sustain unity in the post-election period.