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SANWO-OLU PRAISES BUHARI, TINUBU, DANGOTE CONTRIBUTIONS TO NIGERIA’S FIRST PRIVATE REFINERY

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President Muhammadu Buhari, Aliko Dangote, Lagos State Governor Babajide Sanwo-Olu ,Senate President Ahmad Lawan and others at the official Commissioning Dangote Refinery in Lagos
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LASG has provided enabling environment for private sector growth, says Dangote

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Monday, said the stories of President Muhammadu Buhari; President-elect, Asiwaju Bola Tinubu and Chairman of Dangote Group, Alhaji Aliko Dangote are a testament that prosperity can be achieved when  leaders have shared vision for the people they are leading.

Sanwo-Olu shared three different stories on how President Buhari, Asiwaju Tinubu and Dangote are connected to the newly commissioned first privately owned refinery in Nigeria, the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, said the three leaders have shown Nigerians that leadership is about consistency and commitment to Nigeria’s economic growth.

He said: “The vision of Aliko Dangote, President Muhammadu Buhari and incoming President Asiwaju Bola Ahmed Tinubu, is a story of possibility when men have a shared common vision, purpose and they have the possibility that things can happen, things can change and things can be prosperous for the people they are leading.

“These three men; Aliko Dangote, President Muhammadu Buhari, and President-elect Bola Ahmed Tinubu epitomise all the great qualities of great leadership. They have shown us that nothing can be something. They have shown us that leadership is about consistency. It is about showing that whatever it is that you believe in, give it all it takes and at the end of it you will see the results coming out.”

Governor Sanwo-Olu while commending Dangote, said the business mogul is a completely detribalised Nigerian who has impacted many lives positively.

He said: “To our son Alhaji Aliko Dangote, we are indeed truly proud that you have put Nigeria and indeed Africa on that world map in which you have done the very first. We are proud of your belief in your country and your belief in the youth that you are giving the opportunity to. We are proud of the fact that you are a Nigerian that is completely detribalised and you have imbibed it in many ways.

“It is about the opportunity this (refinery) has provided for all the youth and young people of our country. It is about the fact we can say to them the work these three men – Mr. President, Alhaji Dangote, and our incoming president have done and will continue to do.

“It is about our future. It is about providing an opportunity for the youth because over 150,000 direct and indirect jobs that will be created are for our youths; young leaders that are in their 20s and their 30s for them to believe that indeed Nigerian is a place for them. Nigeria considers them as an important and veritable tool in developing and ensuring the very best.

“I want to also thank our President-elect who propelled a vision of what we are enjoying today. As governor and as Lagosian, he was the main architect of the modern history of the trajectory of Lagos and we are hopeful and praying that when he comes in as president, all of those additional vision that he has will come to reality.”

Governor Sanwo-Olu, who was part of the birth of the Lekki free zone in 2006 during the tenure of Tinubu as Governor of Lagos State, praised the host communities for showing hospitality to investors in the area.

“I want to use this opportunity to thank our host community. This community has been the host to several firsts in our country and I want to thank all of them; from the traditional rulers to all of the indigenous citizens that have continued to reflect the true spirit of Lagos to be able to show hospitality and accommodation in everything that we are about,” he said.

Governor Sanwo-Olu also commended President Muhammadu Buhari’s eight years in office, saying the people of Lagos State are proud of what the President has done for Nigeria.

He said: “You (President) have spent 2,915 days out of 2,922 days that you have. Mr. President, you have spent 99.98 percent of your time. Mr President history will certainly judge you well. We in Lagos are happy. This is your third trip to the Lekki Free Zone in less than a year.

“We are proud of you. We are indeed excited that you have thrown everything you have into it and as you bow down, I might not have the opportunity of holding a microphone again, I want to say to you, that on behalf of Lagos State, we are truly proud of the things that you have done for us in this country.”

Speaking earlier, Dangote commended Lagos State Government under the leadership of Governor Sanwo-Olu for providing an enabling environment for private sector growth, particularly the Dangote Refinery.

He said: “Lagos State Government has been exceptionally remarkable in their efforts toward the completion of this project.

“The Lagos State Government under the leadership of Governor Babajide Sanwo-Olu has provided an enabling environment for private sector growth in the state and this project. It has allowed us to invest over $30 billion in different sectors of the industry.”

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Senate Gives NNPC 3 Weeks To Answer The Audit Queries Concerning N210 Trillion

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Senate Chamber
Senate Chamber
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The Senate Committee on Public Accounts has given the Nigerian National Petroleum Company (NNPC) Limited three weeks to respond to queries raised against it.

These queries concern audit reports from 2017 to 2023, alleging unaccountability of N210 trillion naira. The committee, chaired by Senator Ahmed Wadada, emphasized that the amount in question is neither stolen nor missing but has yet to be accounted for.

The three-week deadline for explanations was given to Bayo Ojulari, the Group Chief Executive Officer of NNPC Limited, after he apologized for his previous failure to appear before the committee. Ojulari explained that he needed additional time to thoroughly investigate the issues raised in the 19 queries presented to him, citing the technicalities and perspectives involved.

“I’m just over 100 days into my role as GCEO of NNPCL,” Ojulari stated. “I need more time to understand the issues so that I can respond appropriately. I will assemble a team to reconcile the details properly so we can provide answers to the queries. I also plan to engage with external auditors and other relevant groups.”

Although Ojulari initially requested four weeks, the committee granted him three weeks, which they deemed sufficient for NNPC Limited to prepare its responses.

Senator Wadada outlined the details of the queries to the NNPCL CEO, explaining that the N210 trillion unaccounted for broadly includes two components: N103 trillion in liabilities and N107 trillion in assets, both of which must be accounted for.

Wadada stated, “None of the 18 or 19 questions we have regarding NNPCL originate from the committee, the executive, or the judiciary. They are derived from the audited financial statements of the NNPCL, as reviewed by the auditor-general covering the period from 2017 to 2023.

“Furthermore, the committee has never claimed that the N210 trillion in question was stolen or missing. Our investigation is a necessary inquiry into the queries raised in the report, in line with our constitutional mandate.”

The committee has instructed NNPC Limited to provide written responses to all 19 queries within the three-week timeframe. Afterward, the GCEO and other management staff will be invited to appear in person for further discussion and defense of the issues.

Before the chairman’s ruling, nearly all committee members expressed the seriousness of the issues at stake but remained optimistic that the GCEO would clarify these matters.

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NNPC: Port Harcourt Refinery Not For Sale

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GCEO of NNPC Limited, Bayo Ojulari
GCEO of NNPC Limited, Bayo Ojulari
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The Nigerian National Petroleum Company (NNPC) Limited has confirmed that the Port Harcourt Refining Company is not for sale. The company remains committed to completing the high-quality rehabilitation of the plant.

Bayo Ojulari, the Group Chief Executive Officer (GCEO) of NNPC Limited, announced this decision during a company-wide town hall meeting at the NNPC Towers in Abuja on Tuesday, July 29, 2025.

Ojulari emphasised that this position is not a change but is based on ongoing detailed technical and financial reviews of the Port Harcourt, Kaduna, and Warri refineries. He explained, “The ongoing review indicates that the earlier decision to operate the Port Harcourt refinery before fully completing its rehabilitation was ill-informed and sub-commercial.”

He noted that while progress is being made on all three refineries, the current outlook suggests the need for more advanced technical partnerships to successfully complete and enhance the rehabilitation of the Port Harcourt refinery. Therefore, selling the refinery is highly unlikely, as it could lead to further value erosion.

This announcement comes amid widespread speculation following Ojulari’s comments at the 2025 OPEC Seminar in Vienna, Austria, earlier this month. During an interview with Bloomberg, he stated that “all options are on the table,” which sparked concern and discussion regarding the future of the nation’s refining assets.

In a statement released by NNPC Limited on Wednesday, July 30, Ojulari reiterated that the national oil company aims to reposition itself as “a commercially driven, professionally managed national energy company, grounded in transparency, focused on performance, and unwavering in its responsibility to its primary stakeholder group, Nigerians.”

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PremiumTrust Bank MD: Uba Sani’s Investment Attraction in Kaduna

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Kaduna State Governor Sani Uba
Kaduna State Governor Sani Uba
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Emmanuel Emefienim, the Managing Director of PremiumTrust Bank, praised Kaduna State Governor Uba Sani for successfully attracting investments to the region. Emefienim highlighted Sani’s visionary leadership and steadfast commitment to peace, unity, and progress, noting that these qualities have revitalised the hopes of the people in Kaduna State.

He made these remarks during the opening of the PremiumTrust Bank branch in Kaduna on Wednesday, July 30, 2025.

Emefienim stated, “Through improved security, urban renewal, economic diversification, infrastructural development, and youth empowerment, Governor Sani has created an environment where businesses can thrive and investments can flourish, positioning Kaduna as a preferred destination for partnerships like ours.”

He also remarked, “Kaduna’s political influence, entrepreneurial spirit, and urban renewal initiative make it a natural home for a forward-looking institution like PremiumTrust Bank.”

Emefienim addressed the residents of Kaduna, saying, “PremiumTrust Bank has arrived to work alongside you, invest in you, and grow with you. Together, we will write a new story of economic transformation and shared success.”

At the event, Governor Sani emphasised that the opening of the bank’s branch in Kaduna State represents a strong vote of confidence in the region’s growing economic strength and the reforms his administration has consistently pursued since 2023.

He described the bank’s commissioning as “an affirmation of our government’s tireless efforts to build an investment-friendly, growth-oriented business environment.”

Sani added, “From the beginning of our administration, we have recognised financial inclusion as the foundation of sustainable development. That is why my first Executive Order focused on expanding financial access for the underserved and unbanked.”

“Since then, we have enrolled over 2.5 million residents—particularly women, youth, and those underserved—into the formal financial ecosystem. We have increased support for Micro, Small, and Medium Enterprises (MSMEs), empowered agri-preneurs across all 23 local governments, and launched targeted social interventions.”

He concluded by stating, “The arrival of PremiumTrust Bank brings fresh momentum to these efforts, with new products, digital solutions, and literacy initiatives that will make banking accessible to everyone.”

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