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EndSARS anniversary: Police occupy Lekki toll gate, others, activists set for protest
There are strong indications that security agents and protesters will clash in many cities across the country today (Wednesday) as activists and youths insist on gathering in public spaces to commemorate the first year anniversary of the #EndSARS protests, which rocked the nation last year.
For instance, heavily armed police personnel, on Tuesday, took over the Lekki tollgate area, which was the hotbed of last year’s protests.
It was also learnt that some policemen in plain clothes would join the protesters in a bid to monitor them closely.EndSARS memorial protests are planned to take place in Lagos, Abuja, Aba, Port Harcourt, Yenagoa, Enugu, Yola, Ibadan, Benin City, Jos, Ilorin, Asaba and Osogbo, among others.
In October last year, spontaneous protests had erupted in different parts of the country against police brutality, especially by the personnel of the notorious Special Anti-Robbery Squad, and the #EndSARS movement soon garnered international support.
The protests, however, turned bloody on October 20, 2020, when soldiers and policemen fired at the protesters in Lagos.
In Abuja, the nation’s capital, hoodlums attacked the protesters and injured many of them. They also looted warehouses and set ablaze over 18 cars and vandalised more than 12 vehicles.
In response to the outcry, the regime of the President, Major General Muhammadu Buhari (retd.), disbanded the Special Anti-Robbery Squad police unit, the fourth time the Federal Government had disbanded it.
On October 19, 2020, the President accused the protesters of trying to cause anarchy and warned that the government would not tolerate that.
The police have, however, warned the organisers and attendees of the commemorative protests to desist from going ahead with their plans as they will be arrested and prosecuted.
In Abuja, it was gathered on Tuesday that the police would deploy personnel at strategic locations as part of plans to frustrate youths from staging street protests in commemoration of the rally.
Sources said security agencies would deploy personnel in various entry and exit points of the Federal Capital Territory, including Mararaba, Nyanya, Zuba and Airport Road.
Our correspondents also learnt that security would be tightened around many public buildings and infrastructure in the FCT.
It was gathered that the Unity Fountain, which is the main protest spot in Abuja, would be cordoned off to prevent any form of gathering there.
A source said, “The security agencies are not very comfortable with plans by some emergency activists to stage a protest. So, we have put in place a plan of action to ensure that the protest or street walk doesn’t degenerate into violence.
“I won’t be able to disclose our strategic plan, but suffice it to say that security will be beefed up at strategic locations and government offices, banks and other public utilities. Many undercover operatives will also be part of protesters to fish out troublemakers among them.”
In Lagos, personnel of the state police command embarked on a show of force on Tuesday to intimidate the organisers and participants of the #EndSARS memorial protests in the state.
Fully armed personnel in police patrol vehicles were seen patrolling potential protest grounds in a show of force.
There was heavy police presence at the Lekki tollgate.
A notice from the organisers of the protest sighted by one of our correspondents read, “In memorial of the lives lost on the 20-10-2020, there will be a memorial car procession on Wednesday, October 20, 2021, taking place at the Lekki Tollgate by 8.10am. We should all endeavour to stay in our vehicles throughout the procession.”
In Oyo State, the organisers said the commemorative protest would start by 9am at under the bridge, Iwo Road, Ibadan, while a candlelight procession would follow at the Ojoo roundabout by 4pm.
“There will be a morning walk for #EndSARS heroes by 9am at Iwo Road, under bridge, opposite Tantalizers with a candle light procession at 4pm at Ojoo roundabout, Ibadan,” a notice by the organisers read.
The Lagos State Police Command, however, said no form of street protest in commemoration of the #EndSARS anniversary would be tolerated in any part of the state.
The state Police Public Relations Officer, CSP Adekunle Ajisebutu, in a statement on Tuesday, dispelled the rumour circulating on social media that the police had agreed to allow street demonstrations to commemorate the #EndSARS protest anniversary scheduled to hold today (Wednesday).
He said the command would only allow indoor and virtual events in commemoration of the anniversary.
Ajisebutu said, “The attention of the Lagos State Police Command has been drawn to a post being circulated on social media insinuating that the police in Lagos have agreed to allow street protests in commemoration of the one-year #EndSARS anniversary on October 20, 2021.
“On the contrary, the police will only allow indoor and virtual events in commemoration of the #EndSARS anniversary and will provide adequate security at the venue(s) if known. This is in recognition of the rights of every Nigerian to express his or her interest.
“We wish we could permit such street protests. However, intelligence at our disposal has revealed plans by some faceless groups or individuals to stage an anti-#EndSARS anniversary protest in the state on the same day.
“In view of the conflicting interest between the pro and anti-#EndSARS anniversary groups and threat to cause mayhem, the command once again warns both groups against any form of street protest between now and October 20, 2021 and beyond.”
Similarly, the Osun State Police Command, on Tuesday, warned against any unlawful assembly or gathering in commemoration of the #EndSARS protests anniversary in the state.
The spokesperson for the command, Yemisi Opalola, said intelligence available to it indicated plans by some youths and groups of people to embark on protests.
Opalola said the state Commissioner of Police, Wale Olokode, had given a marching order to area commanders, divisional police officers and tactical units to be at alert and nip in the bud any act capable of truncating the peace of the state.
She said the commissioner also advised parents and guardians to warn their children and wards to be law-abiding and desist from protests and public gatherings, adding that the police would arrest and prosecute anyone who acted contrary to the directive.
Meanwhile, global rights group, Amnesty International, has said despite promises of reform, police impunity is continuing even as it accused investigation panels set up to probe police brutality of dashing victims’ hope of getting justice.
Amnesty said this in a statement titled, ‘Nigeria: No justice for victims of police brutality one year after #EndSARS protests’.
It said no one had been brought to justice for the torture, violence, and killings of peaceful protesters, while reports of human rights violations by the police continue.
“Amnesty International was able to establish that pro-government supporters instigated violence at many of the demonstrations, providing cover for the police to use lethal force against peaceful protesters. The organisation also found that detained protesters were tortured and refused or denied immediate access to lawyers,” it said.
The rights group stated that a year on and despite the gravity of the human rights violations, “not a single member of the security forces has been prosecuted, while judicial panels of inquiry set up to investigate abuses by officers have made little progress.”
Amnesty said the President must fulfil his promise of reforming the police to end the reign of impunity that Nigerians had been protesting against for many years.
It said under the pretext of restoring order, horrific injuries were inflicted on hundreds of people and at least 56 persons were killed, among them dozens of young people, as Nigerian security forces used unnecessary and excessive force to disperse peaceful protesters across the country.
“It is unacceptable that despite overwhelming evidence, the government continues to deny the use of live ammunition on protesters at the Lekki tollgate exactly a year ago,” said Amnesty International’s Country Director, Ms Osai Ojigho.
It said after reviewing videos and photos of the protest sites, it found that in nearly 21 incidents where violence occurred between peaceful protesters and pro-government supporters, security forces not only failed to take preventive measures to avoid peaceful assemblies from being disrupted, but they also failed to protect protesters from violent attacks.
“In many instances, the police and other security agents watched as apparently government-backed armed thugs attacked peaceful protesters. In some cases, these thugs were brought to the protest sites in government vehicles. On at least two occasions, these attacks resulted in the death of protesters,” Ojigho added.
Amnesty also documented numerous cases in which the police denied or delayed access to lawyers and medical care by detainees. This was despite repeated requests from detainees to see or call a lawyer – and repeated requests from lawyers at places of detention to have access to the detainees.
It said investigative panels set up to look into police brutality had so far been marred by prolonged adjournments, intimidation of witnesses by police lawyers and the failure of police officers to appear as witnesses.
It said some panels had failed to sit in some states and had taken indefinite breaks.
“What we observed at these panels is discouraging and clearly shows that there is no real commitment to ensuring justice for victims of police violence across Nigeria. These panels raised hopes of getting justice but in some states, this is quickly vanishing,” Ojigho stated.
The Human Rights Watch has lamented the failure of the Federal Government to hold accountable security operatives, who allegedly brutalised and killed #EndSARS protesters in October 2020.
The international human rights group said the victims were still awaiting justice a year after security forces violently suppressed protests calling for an end to police brutality in Nigeria.
The HRW in a statement on Tuesday titled, ‘Nigeria: A year on, no justice for #EndSARS crackdown’, noted that the prospects for accountability remained inconclusive and bleak.
It said, “Nigerian authorities should take concrete and decisive steps to ensure that those implicated in abuses against protesters are held accountable.
“In October 2020, young people across Nigeria took to the streets calling for disbanding an abusive police unit known as the Special Anti-Robbery Squad and for ending brutality in a movement tagged: #EndSARS. Security forces responded with excessive force, including gunfire, which resulted in death and serious injuries.”
Nigerian researcher at Human Rights Watch, Anietie Ewang, advised the government to ensure justice for those abused during the nationwide protests.
“Failure to pursue justice will strengthen the culture of impunity and reinforce the perceptions that brought protesters to the streets in the first place,” she noted.
Between October 2020 and August 2021, the HRW said it interviewed 54 persons, including victims and their family members, protesters, protest supporters, representatives of civil society groups, medical service providers, political analysts and journalists on how the crackdowns unfolded and how the victims had been affected.
The rights group also wrote letters to the Nigeria Police Force and the Nigerian Army to share findings and ask questions about officers’ conduct during the protests, but has yet to receive a response.
The PUNCH reports that the harassment and brutalisation of citizens have continued despite the #EndSARS protests, which rocked the country last year.
Despite the disbandment of the SARS, findings by our correspondents showed that the harassment and brutalisation of citizens by the police had continued.
Some of the notable cases during the period under review included the harassment of six journalists, including Solomon Odeniyi and Chidiebube Okeoma of The PUNCH, who were arrested and detained in the course of carrying out their official duties.
Others include the harassment of 10 protesters on February 13, 2021 during the Occupy Lekki Tollgate in Lagos, and the alleged shooting of nine persons on June 21 by a police inspector attached to Special Protection Unit, Base 9, Umuahia. Five of the victims were said to have died from gunshot wounds, while four survived.
Others are the harassment of 57 Shiite members on September 28, 2021, who were protesting the ordeal of their leader in Abuja; the brutalisation of a cameraman attached to the Edo State Government House and a certain Broderick Omeisan in Warri, Delta State.
However, Amnesty International said in a report in August that it documented 115 persons killed by the army and the police, and over 500 arrests made by the two institutions between March and June 2021 in the South-East.
The National Coordinator, Advocate for Peoples Rights and Justice, Giwa Victor, said the lack of punishment to serve as a deterrent to others had ensured that the scourge of harassment and brutalisation continued to thrive in the country.
He said, “Errant personnel are not being made to account for their actions. The fact that there is no punishment will make this scourge to continue to thrive in the country. How many have been dismissed and prosecuted this year alone?
“It is not enough to tell us they will be investigated, just like the IG has promised in the most recent case in Kogi; the action that should follow should be the one capable of deterring others. Not until they are seen to be punished they would continue with their heinous act and have the belief that they can get away with it.”
The Centre for Democracy and Development said it was displeased that despite the clear message that the protests sent, the government had not exhibited any iota of seriousness to address the trigger factors.
In a statement by its Director, Idayat Hassan, the group said if this continued to be ignored, it could reignite a similar experience in no distant time.
Former Vice President Atiku Abubakar and former Minister of Transportation Rotimi Amaechi on Thursday submitted their nomination forms at the party’s national secretariat in Abuja.
Atiku, in a post on his X handle on Thursday, said his presidential bid represents a broader movement aimed at restoring national prosperity and rebuilding Nigeria.
Amaechi, on his part, pledged to turn the country around within four years if elected, arguing that competence, experience and performance—not ethnicity or political sentiment—should determine the 2027 contest.
Their declarations come as the ADC continues to attract high-profile politicians ahead of the next general elections, amid intensifying political realignments across the country.
Speaking after submitting his form at the ADC national headquarters in Abuja, Atiku wrote, “The march to restore prosperity and better days to our beloved nation took a firm and decisive step forward today at the national secretariat of our great party, the African Democratic Congress.”
The former vice president said the movement transcended politics and was focused on national renewal and hope.
“This is more than a political journey; it is a national movement rooted in hope, renewal, and the collective resolve to save Nigeria from despair,” he stated.
He also called on Nigerians across ethnic, religious and regional divides to support the movement.
“I call on all Nigerians, regardless of region, faith, or background, to join us in this noble cause. Together, we will restore the promise of our nation and bring good times back again,” he added.
On his part, Amaechi pledged to transform Nigeria within four years if elected in the 2027 general election.
Amaechi made the promise shortly after submitting his nomination forms, where he also took a swipe at the administration of President Bola Tinubu, blaming it for the country’s worsening economic hardship.
The former Rivers State governor said the 2027 election should be based on competence, experience and performance rather than ethnic or regional sentiments.
“What Nigerians should do is assess all of us who are running for office based on our records.
“Nearly everybody who is running for the office of the president has served Nigeria in one way or another. Let this be a referendum. If you have performed, whoever has outperformed the other, vote for the person,” he said.
Amaechi argued that his years in public office had prepared him for the task of leading the country, citing his tenure as governor and later as Minister of Transportation under the late President Muhammadu Buhari.
“The next thing is, who is capable of delivering the votes? Who is capable of beating the incumbent? Who has the experience? I believe I am the most experienced.
“I am young, I am the most experienced, and I believe I have the capacity.
“Go back to Rivers State and see what I have done. Go back to the Ministry of Transportation and see what I have done, and assess it and see whether I can turn the country around. And I will, in four years, turn the country around,” he declared.
Amaechi, who served as governor of Rivers State from 2007 to 2015, was a key figure in the formation of the All Progressives Congress and later served as Director-General of President Buhari’s 2015 campaign.
As Minister of Transportation between 2015 and 2023, he oversaw major railway projects, including the Abuja-Kaduna and Lagos-Ibadan rail lines, although critics questioned the rising debt associated with some of the infrastructure projects.
Speaking on the state of the nation, the former minister criticised what he described as the growing hardship under the Tinubu administration, saying Nigerians were bearing the brunt of economic policies that had worsened living conditions.
“Nigerians should vote for merit, not vote for those who say, ‘I’m from this place’ or ‘it is our turn.’
“It is the ‘Emilokan’ mentality that brought us here. It is our turn that brought us here. Now Nigerians are suffering,” he said.
By Okey Maduforo Awka
Movement For Actualization Of A Sovereign State Of Biafra (MASSOB) has declared May 30th Biafran Day celebration stating that the Sit-At-Home Order is voluntary for all Biafrans .
This year’s celebration is to mark the 59th year anniversary of Biafra declaration by General Chukwuemeka Odumegwu Ojukwu on 30th May, 1967
According to the Spokesman of MASSOB Comrade Edeson Samuel nobody is going to be forced to observe the Sit At Home Order adding that it is optional to all Biafrans.
“MASSOB in the spirit of true Biafrans and brotherhood among Biafra agitators and Biafrans in general have declared 2026 commemoration of Biafra Anniversary ceremony with sit at home exercise in Biafra land for sober reflection”
“MASSOB declares that all markets, public, private motor parks, schools, banks, and other public business premises shall remain closed from 6 am to 4 pm on 30th May, 2026”
“It is a mark of appreciation and acknowledgement of the numerous sacrifices and prices our fathers, mothers, brothers and sisters rendered for Biafra during the three years war of genocide against Biafra by the British backed Nigeria”.
The body further recognizes the contributions of the leader of Indigenous People Of Biafra IPOB Mazi Nnamdi Kanu towards the Biafran emancipation demanding for his unconditional release.
“MASSOB is also using the Biafra declaration anniversary to show solidarity to our brother, Mazi Nnamdi Kanu who is wrongly imprisoned for the sake of Biafra”
“We demand his immediate release and call for justice for all Biafrans who have been unjustly detained or persecuted”
Edeson further reiterated that the celebration is annual activity that has never been a threat to security law and order noting that it has already been non violent.
“The call for stay at home has been our annual and recalling measures and steps for effective civil disobedience ceremonial exercise”
“MASSOB reminds the people of Biafra that this exercise has always been the life wire of the Biafran struggle which boomed the potency and acceptability of the non violence Biafra self determination struggle.
“The request for closure of Markets, public/private motor parks, schools and other public business premises is a one day mandatory exercise that Biafrans shall stand, it is a mark of respect and love for our fatherland.
“Biafrans shall not be compelled, pressurized or forced to observe the stay at home exercise.
“MASSOB and other pro Biafra agitators will not molest, compel or intimidate anybody to observe the stay at home exercise as all our members shall stay indoors in observance of the great day of Biafra.”
“There shall be no physical demonstration, street march, procession or any other public functions in Biafra land on May 30th 2026”
The body stated that it is aware that there would be heavy presence of security operatives urging Biafrans to conduct themselves well and peaceful in order not to engage themselves is a senseless face off with the personnel .
“MASSOB knows that there will be heavy presence of armed Nigeria Army, Mobile police, DSS operatives and Civil Defence in major cities of Biafra land during our annual Biafra Day Anniversary Celebration”
“They are all signs of jittery, fear and cowardice of Nigeria state over Biafra”
“No amount of security intimidation, mesmerization, killings, detention, oppression, incarceration etc will ever stop the will power of an indigenous people for self determination. the use of force can never stop the inflow of the spirit of Biafra” he said.
By Okey Maduforo Awka
The Igbo Community Association FCT and the Ohaneze Ndigbo have commenced massive mobilization of over 1.2 million Igbo residents living within the Federal Capital Territory (FCT) to participate in the ongoing Continuous Voter Registration (CVR) exercise.
The mobilization is targeted at ensuring that eligible Igbo citizens utilize the registration window opened by the Independent National Electoral Commission (INEC), running from May 11 to July 10.
The association strongly warned against voter apathy, urging the 1.2 million Igbo residents in Abuja to arm themselves with their Permanent Voter Cards (PVCs) as a critical tool for political representation and socio-economic survival.
“Today, the most powerful weapon in the hands of the Igbo person is the PVC and the absolute ability to vote on election day. Our PVC is the new ‘Ogbunigwe’—the ultimate defensive tool for our future”
According to the duo of it’s President General Engr Ikenna- Elis Ezenekwe and the Secretary General Mazi Chinwoke Onah ;
“We will no longer be fooled by reckless calls to boycott elections or abstain from registration; doing so is simply shooting ourselves in the foot.”
The leadership emphasized that Ndigbo represents a massive, foundational voting bloc across Nigeria.
The group noted that any upcoming national demographic census tracking tribal distribution will firmly validate that the 1.2 million Igbo residents and the broader Igbo populace constitute the largest voting bloc in Nigeria.
To ensure the success of this mobilization grid, the association is making a direct appeal to major political stakeholders and leaders of Igbo extraction resident in Abuja.
Specifically, the group called on Hon. Ben Kalu, the Deputy Speaker of the House of Representatives, to lead the cause of getting the Igbo political leaders in Abuja to join this very important exercise.
Continuing the Association noted that;
“To eliminate barriers to registration, the Igbo Community Association FCT is establishing localized assistance centers and a dedicated citizen helpline”
“The 1.2 million Igbo residents who require support with online pre-registrations, biometric capture locations, profile corrections, or PVC transfers are urged to reach out immediately”
The Igbo Community Association FCT is the apex socio-cultural body representing the interests, welfare, and cultural heritage of over 1.2 million Igbo residents living within Nigeria’s Federal Capital Territory. The association works in tandem with national bodies like Ohanaeze Ndigbo to promote unity, civic responsibility, and progressive representation for Ndigbo on the national stage.
Findings m also revealed that the disbursements, made into the Presidential Air Fleet naira transit account operated by the Presidential Air Fleets (State House), were recorded in eight separate transactions across three months of June, July and December 2025, with the bulk of the transfers concentrated in July, when four transactions totalling N2.43bn were made in the space of a week.
A breakdown of the transactions shows that N1.285bn was disbursed on June 12, followed by N430m on July 24, N1.28bn on July 25, N92m on July 29, and N626m on July 31.
In December, three further disbursements were recorded. They include N9m on December 18, described in the GovSpend database as “Presidential Air Fleet forex transit funds,” N343.9m on December 30 and N90.9m on December 31.
Four of the eight transactions carry no accompanying description, listed simply as “None,” a pattern consistent with previous disbursements to the transit account.
Most disbursements to the Presidential Air Fleet transit account are labelled “Forex Transit Funds,” typically funds allocated for foreign exchange requirements to facilitate international transactions, covering expenses related to operations outside the country, including fuel purchases, maintenance or services in foreign currencies.
The new figures add to a growing cumulative spend that has accelerated significantly since Tinubu assumed office.
At least N26.38bn was spent on the operations of the Presidential Air Fleet from July 2023 to December 2024, with N14.15bn disbursed in 2024 alone.
The Presidential Air Fleet’s total budget allocation stood at N17.32bn in 2025, declining to N14.70bn in 2026.
The reduction was driven mainly by decreased capital expenditure.
Engine overhaul projects across the fleet consumed N4.58bn in 2024, N8.65bn in 2025 and N6.05bn in 2026, bringing the three-year aggregate to N19.27bn.
Since 2017, under the Buhari administration, budgetary allocations for the fleet have shown a growing trend, with one exception in 2020, rising from N4.37bn in 2017 to N20.52bn in 2024, a 370 per cent increase in running costs over seven years.
In an interview with our correspondent, the General Secretary of the Aviation Round Table, Olumide Ohunayo, had blamed the meteoric rise on the age of some of the aircraft in the fleet and the declining value of the naira, as well as the “commercial use” of aircraft by the Nigerian Air Force.
Ohunayo explained, “The cost will definitely increase over the years because, for one, this issue of the naira against the dollar.
“As the naira keeps falling to the dollar, we will see a rise in cost because most of the costs of training crew and engineers and replacing aircraft parts are all in dollars.
“Also, some of these aircraft are not new. The older the aircraft, the higher the cost of maintenance and operation.
“Lastly, during these past years, terrorism and insecurity have increased in Nigeria, which has also affected the cost of insuring the aircraft.”
The episode had prompted the House of Representatives Committee on National Security and Intelligence to recommend the procurement of two new presidential aircraft.
In August 2024, the official Boeing 737 business jet for the President was replaced with an Airbus A330 purchased for $100m through service-wide votes.
The nearly 15-year-old plane, an ACJ330-200, VP-CAC (MSN 1053), is “spacious and furnished with state-of-the-art avionics, customised interior and communications system,” Tinubu’s Special Adviser on Information and Strategy, Mr Bayo Onanuga, said, adding “it will save Nigeria huge maintenance and fuel costs, running into millions of dollars yearly.”
From February through July 2025, the President flew a San Marino-registered BBJ (REG: T7-NAS).
Sources who spoke to one of our correspondents confirmed that the primary aircraft had been flown to South Africa to change its colours to reflect the office of the President. It was flown back in July 2025.
The Presidential Air Fleet comprises a fixed-wing fleet that includes the Airbus ACJ330-200, a Gulfstream G550, a Gulfstream G500, two Falcon 7Xs, a Hawker 4000 and a Challenger 605, three of which are reportedly unserviceable.
The rotor-wing fleet includes two Agusta 139s and two Agusta 101s, operated by the Nigerian Air Force under the supervision of the Office of the National Security Adviser.
The CEO of Centurion Security Limited, John Ojikutu, argued that the disbursements for the air fleet operations were justified considering all related expenses.
“That’s not a big deal. If they are going for repair, particularly for C-checks. It’s always around that range.
“They will fly it abroad, buy fuel, catering, and hotel bills are also involved; pilots will fly it back, and the figure likely includes far more than the direct cost of repairing the aircraft,” Ojikutu explained, adding that the figure likely includes far more than the direct cost of operating the aircraft.
The Presidency did not respond to inquiries on the nature of the specific disbursements captured in the recent data.
As of the time of filing this report, calls to the Special Adviser to the President on Information and Strategy, Bayo Onanuga, went unanswered.
In an earlier interview with our correspondent, Onanuga had argued that the costs of maintaining the air fleet are not for the President but in the interest of Nigerians.
“It’s not President Tinubu’s plane; it belongs to the people of Nigeria, it is our property…the President did not buy a new jet; what he has is a refurbished jet, but it is a much newer model than the one President Buhari used.
“Nigerians should try to prioritise the safety of the President. I’m not sure anybody wishes our President to go and crash in the air.
“We want his safety so that he can hand it over to whoever wants to take over from him,” Onanuga said.
Source: PUNCH
President of the Dangote Group, Aliko Dangote, has revealed that the company rejected attempts by the Nigerian National Petroleum Company Limited to increase its 7.25 per cent stake in the Dangote Petroleum Refinery.
Dangote disclosed this during an interview with Nicolai Tangen, stating that the decision was taken because the refinery plans to go public and allow more Nigerians to own shares in the facility.
According to him, the national oil company had sought to acquire additional equity in the multi-billion-dollar refinery, but the proposal was turned down.
“We are the ones that said no; we want to now spread it and have everybody be part of it,” Dangote said.
The refinery, located in Lekki, Lagos, is valued at about $20bn. In 2021, NNPC acquired a 7.25 per cent stake in the plant for $1bn, with an option to increase its ownership to 20 per cent by June 2024. However, the company later decided against purchasing the remaining shares.
Dangote had earlier clarified in 2024 that the NNPC’s actual ownership in the refinery was 7.2 per cent and not the widely reported 20 per cent, explaining that the oil company failed to pay the balance required under the agreement.
“The agreement was actually 20 per cent, which we had with NNPC, and they did not pay the balance of the money up until last year,” he had said.
Dangote also identified government policy inconsistency as one of the biggest risks facing businesses in Nigeria, alongside the possibility of civil unrest.
“The other biggest risk is government inconsistencies in policies,” he stated.
Findings further showed that petrol supply from the refinery rose significantly in the first quarter of 2026, reaching about 3.18 billion litres, while fuel imports dropped sharply to 965.52 million litres within the same period.
The average domestic ex-depot petrol price from the refinery between January and March 2026 stood at about ₦1,000 per litre, indicating that the refinery supplied over ₦3.2tn worth of petrol into the Nigerian market during the review period.
The refinery has also reportedly benefited from rising global tensions involving the United States and Iran, with disruptions in the oil market boosting exports of refined petroleum products.
Speaking on the company’s investment strategy, Dangote said future investors in the group’s businesses, including cement, petrochemicals, fertiliser and refining, would receive dividends in dollars because most of the company’s revenue now comes from exports.
“What we are announcing is that when you invest in any of our businesses going forward, we guarantee to pay you a dividend in dollars because we are very well into exports. Eighty per cent of our revenue will be in dollars,” he said.
Dangote also recounted how he sold his luxury properties in the United States and the United Kingdom to focus fully on industrial development in Nigeria.
“When I decided to go into the industry, I sold all my properties in the US and the UK. I wanted to really sit in Nigeria and concentrate,” he said.
He explained that his business philosophy is driven by identifying products Nigerians heavily import and producing them locally through backward integration.
According to him, the refinery project received financial backing from several institutions, including Afreximbank, Africa Finance Corporation, Zenith Bank, Access Bank, United Bank for Africa, Standard Bank and Standard Chartered.
Meanwhile, former NNPC spokesman, Olufemi Soneye, had previously explained that the company reduced its intended refinery stake to channel funds into compressed natural gas projects.
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