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PMS Export and Re-importation: Dangote Refinery slams false claims

The Management of Dangote Petroleum Refinery and Petrochemicals has noted with concern the circulation of unfounded and misleading claims suggesting that its petroleum products are exported to Lomé and subsequently re-imported into Nigeria.
The company in a statement stated that, as a matter of policy, the Company does not ordinarily engage with baseless and unsubstantiated allegations. However, in the interest of transparency and to set the record straight, Management considers it necessary to address this deliberate misinformation. Management states unequivocally that the allegation is not supported by verifiable trade data, commercial logic, or the operational realities of Dangote Refinery.
A core mandate of the refinery, according to the statement is to strengthen domestic supply and remain a leading provider of petroleum products in Nigeria. Any practice that enables imports to compete directly with its own production clearly contradicts this objective. Accordingly, Management confirms that all sales contracts and tender agreements expressly prohibit the resale or re-importation of Dangote Refinery products into Nigeria.
Furthermore, Management emphasises that the economics of the purported trade route are fundamentally flawed. Estimated logistics costs for transporting products from the refinery to Lomé and back into Nigeria range between US$82–90 per metric ton. Such additional costs would significantly erode margins and render the transaction commercially unviable.
“Dangote Refinery does not provide export discounts sufficient to offset these costs or create arbitrage opportunities between export and domestic markets. Simply put, no rational producer would incur additional shipping, storage, financing, and handling costs only for products to re-enter and compete in its primary market.”
Management also highlights that the refinery maintains stringent product traceability protocols, including detailed records of lifting points, nominated vessels, counterparties, and declared destinations. These measures ensure full visibility and accountability across the supply chain.
The statement insisted that any "claim suggesting that the refinery facilitates or tolerates re-importation is inconsistent with its contractual safeguards and established compliance standards. The refinery has consistently advocated for reducing Nigeria’s dependence on imported petroleum products.
Management underscores that encouraging or enabling re-importation would undermine local refining efforts, strain foreign exchange reserves, and weaken national industrial growth, positions that are contrary to its core objectives.
Management reiterates that there is no strategic, economic, or operational basis for the claim that Dangote Refinery exports products for re-importation into Nigeria. The allegation is entirely unfounded and does not withstand scrutiny when measured against market logic, contractual frameworks, and industry practices.
The statement concluded that “Dangote Refinery remains focused on its mission to enhance energy security, support local refining, and contribute meaningfully to Africa’s industrial development”
Credit Dangote Group PR

PMS Export and Re-importation: Dangote Refinery slams false claims
Economy
24-Jun-2026

Fidelity Bank empowers Exporters to unlock AfCFTA Opportunities with EMP 19

Fidelity Bank Plc has reaffirmed its commitment to supporting Nigeria's economic diversification agenda through capacity building and export development, as it hosted the 19th edition of its Export Management Programme (EMP) at the Lagos Business School (LBS), Ajah, Lagos recently.

Tagged EMP 19, the programme which is an intense hands-on export management workshop, organised as a partnership between Fidelity Bank, Lagos Business School and Nigerian Export Promotion Council, brought together entrepreneurs, professionals, regulators and aspiring exporters for intensive training designed to equip participants with the knowledge, skills and networks required to compete successfully in international markets.

Speaking at the closing ceremony, Divisional Head, Export and Agriculture, Fidelity Bank Plc, Isaiah Ndukwe, said the bank remains focused on empowering Nigerian businesses to leverage emerging opportunities under the African Continental Free Trade Area (AfCFTA) and expand the country's non-oil export base.

"At Fidelity Bank, we recognize that capacity building is critical to unlocking Nigeria's export potential. Through the Export Management Programme, we are equipping businesses with practical knowledge, market intelligence and strategic insights required to compete successfully in regional and global markets," Ndukwe said.

“As AfCFTA continues to open new frontiers for trade across Africa, our goal is to ensure that Nigerian exporters are adequately prepared to seize these opportunities and contribute meaningfully to the country's economic diversification agenda," he added.

Nwalor further noted that the bank remains committed to providing exporters with the financial solutions, advisory support and strategic partnerships necessary to expand their businesses beyond Nigeria's borders.

Also speaking, Director of the Export Management Programme at Lagos Business School, Professor Frank Ojadi, highlighted the need for continuous capacity development as international trade continues to evolve.

"The export market is always evolving. There are changes in policies, improvements in processes and increasing interest from businesses. These developments make it necessary to build the capabilities of our people to compete effectively in export markets," Ojadi said.

According to him, this year's programme placed significant emphasis on AfCFTA, exposing participants to both the fundamentals and practical aspects of leveraging the continental trade agreement for business growth.

"Many businesses are still learning how to take advantage of AfCFTA. Through this programme, participants gained practical insights that will help them navigate opportunities across African markets and beyond," he added.

In his remarks, Senior Fellow and Head of the Department of Organisational Behaviour and Human Resources Management at Lagos Business School, Dr. Uche Attoh, emphasized the importance of negotiation and dispute resolution skills in international trade.

"It is negotiation that enables businesses to establish deals, while arbitration helps resolve disputes when they arise. Once participants understand the principles, they can apply them in any business environment, whether in Africa, Europe or America," Attoh said.

Participants described the programme as impactful and transformative. Assistant Director at the Nigerian Shippers' Council, Obinna Oforum, said the training strengthened his resolve to become an "export champion".

Similarly, Chief Superintendent of Customs, Orji Samuel, praised Fidelity Bank and Lagos Business School for subsidising the programme and creating an enabling platform for practical learning, noting that the knowledge gained would help participants navigate export challenges and unlock new business opportunities.

The Export Management Programme is Fidelity Bank’s flagship capacity-building initiative aimed at developing export-ready businesses and professionals capable of driving Nigeria's non-oil export growth. Through strategic partnerships and targeted interventions, the Bank continues to play a leading role in supporting businesses, facilitating trade and creating pathways for sustainable economic development.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards.
 
The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.
Credit Fidelity Bank PR

Fidelity Bank empowers Exporters to unlock AfCFTA Opportunities with EMP 19
Economy
24-Jun-2026

Establishment of State Police: Nigeria Police Force not responsible for delay, says Disu

The Inspector-General of Police (IG-), Olatunji Disu has denied that the Nigeria Police Force was responsible for the delay in establishment of the state police.
Disu, represented by the Deputy Inspector-General of Police (DIG) Kenechukwu Onwuemelie in charge of  South East, denied the allegation on Tuesday in Awka, during a “Stakeholders metting  on Security in Anambra.”
He admitted that the creation of the state police would enhance the efforts of the national police in preventing and tackling crime.
“The power to create the state police is a constitutional issue that resides with the National and State Assemblies.
“When the National Assembly make provision to amend the law establishing the NPF, and go on to amend it, then two-third of the State Assemblies must consent to it,” he said.
The I-G urged  stakeholders made up of security agencies, traditional rulers, religious leaders, community leaders, Civil Society Organisations, business class among others to be patient, as the National Assembly was doing everything possible to establish the state police.
He called on more collaboration with  stakeholders to improve national security from the grassroots.
Disu enjoined  stakeholders to volunteer vital and timely information on activities of suspected criminals in their areas for prompt intervention.
According to him, there is the need for more collaboration with the police and other security agencies, as the security agencies a lone cannot secure the country.
Also speaking, the Commissioner of Police in Anambra Command, Ikioye Orutugu,  said that security was necessary for the development of any society.
“Security is a collective responsibility that requires collaboration, trust and continuous dialogue with stakeholders from all sectors.
“This collective collaboration has helped in reducing crime in Anambra,” he said.
Orutugu called for strong synergy on security matters with all stakeholders in order to prevent and tackle crime.
Some of the stakeholders commended the state government and the State Assembly for enacting a law to establish local vigilance groups; Udogachi and Agunechemba to help the police prevent and tackle crime.
They urged the Federal Government to expedite action in establishment of state police, to improve national security from the grassroots.
The stakeholders also called for better equipment, training and improved welfare for the police and vigilance group to improve security across the country. 
Credit NAN: Texts excluding Headline

Establishment of State Police: Nigeria Police Force not responsible for delay, says Disu
News
24-Jun-2026

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