Business
Dangote: We’ve ended long-standing fuel queues, our CNG trucks creating over 24,000 jobs
Dangote: We’ve ended long-standing fuel queues, our CNG trucks creating over 24,000 jobs
President and CEO of Dangote Petroleum Refinery, Aliko Dangote, has announced that Nigeria’s long-standing battle with fuel queues has officially come to an end following a year of petrol production at the 650,000-barrels-per-day facility.
Speaking at an event commemorating the refinery’s first anniversary of petrol production on September 15, 2025, Dangote stated that the country’s struggle with fuel scarcity—dating back nearly five decades to 1975—has finally been overcome.
“We have been battling fuel queues since 1975, but today, Nigerians are witnessing a new era,” Dangote said.
A bold gamble that paid off
Recalling the challenges of building Africa’s largest refinery, Dangote revealed the immense personal and financial risks involved in the project.
“Industry experts, investors, and even government officials warned me. They said only sovereign nations attempt projects of this magnitude. If the refinery had failed, lenders would have taken everything. But we believed in Nigeria and Africa,” he said.
Despite early skepticism and economic headwinds, the refinery has emerged as a game-changer. Dangote disclosed that between June and early September 2025, the facility exported over 1.1 billion litres of Premium Motor Spirit (PMS), solidifying its capacity to meet domestic demand while contributing significantly to Nigeria’s foreign exchange earnings.
Impact on fuel prices and distribution
Since the refinery began producing petrol, the average pump price has dropped significantly—from nearly ₦1,100 per litre before production began to around ₦841 per litre in several regions, including Lagos, Abuja, Delta, Rivers, Edo, and Kwara States.
The refinery’s rollout of 4,000 Compressed Natural Gas (CNG)-powered trucks is expected to further stabilise prices nationwide by improving logistics and reducing distribution costs.
Massive job creation and employee welfare
Dangote stressed that the refinery’s operations are geared towards creating—not displacing—jobs. The deployment of CNG trucks alone is projected to generate over 24,000 direct and indirect jobs across the country.
“We haven’t displaced any workers. In fact, our drivers earn a living wage, receive life and health insurance that covers their spouses and up to four children, and enjoy pensions for life. These trucks won’t be operated by robots,” he said.
In addition to drivers, the CNG initiative is expected to create roles for mechanics, fleet managers, and other support staff.
A vision for industrialisation, economic sovereignty
Dangote reiterated his longstanding commitment to Nigeria’s industrial transformation, urging stronger protection of local industries against the dumping of cheap imports. He pointed to the collapse of Nigeria’s textile sector as a cautionary example of unchecked foreign competition.
“Other nations were not industrialised by outsiders. We must build and industrialise our own economies. Without that, who will invest in us?” he said.
He called on the National Assembly to legislate support for the Federal Government’s “Nigeria First” policy, warning that over-reliance on imports equates to exporting jobs and importing poverty.
No plans for retail takeover
Addressing concerns about competition in the downstream sector, Dangote clarified that the refinery has no intention of entering the retail market or acquiring filling stations.
“We believe in collaboration, not competition. We’ve had opportunities to buy retail outlets, but we declined. Our focus is on production and distribution, and we welcome partnerships with existing marketers,” he said.
Expansion and regional leadership
Dangote also revealed plans to expand the refinery’s capacity to 700,000 barrels per day in its second year of operation, further positioning Nigeria as Africa’s refining hub.
In addition to fuel production, the company aims to make Nigeria the largest global producer of fertiliser and the top exporter of polypropylene in Africa—moves he says will diversify the economy and create even more jobs.
“We are fully committed to supporting the government in adding value, creating jobs, and building a stronger economy. Nigeria is now the refining capital of Africa,” he stated.
CNG trucks, security and public confidence
Speaking on the several CNG-powered trucks currently being loaded at the refinery, Dangote said all the 4,000 units would be deployed nationwide.
He dismissed fears of attacks or disruptions, stating, “This is a country governed by law. Security agencies are fully empowered to protect lives and infrastructure.”
He also expressed gratitude to the Federal Government, refinery staff, partners, and Nigerians for their continued support.
He praised the Independent Petroleum Marketers Association of Nigeria (IPMAN) for encouraging its members to participate in the free petrol distribution initiative using the CNG fleet.
From conquering decades of fuel scarcity to leading Africa’s march toward industrialisation, Dangote’s refinery is redefining Nigeria’s energy landscape.
As it enters its second year of petrol production, the project stands as a bold testament to private-sector leadership, national pride, and the power of believing in Africa.
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Business
Dangote Refinery Opens 2026 Graduate Trainee Programme For Young Professionals
Dangote Refinery Opens 2026 Graduate Trainee Programme For Young Professionals
The Dangote Petroleum Refinery and Petrochemicals has officially announced its 2026 Graduate Trainee Programme, an 18-month structured training initiative designed to develop young Nigerian graduates for careers in the oil and gas industry. The company said the programme will expose participants to real-time refinery operations while preparing them for global-standard industrial roles.
In its statement, the refinery explained that the programme is aimed at offering graduates the opportunity to learn, grow and contribute within a global business environment. It added that successful candidates will be integrated into various departments of the refinery where they will receive hands-on training from experienced professionals.
According to the company, trainees will rotate across different operational and support units throughout the 18-month period, giving them broad exposure to refinery processes, technical systems and corporate operations within one of Africa’s largest energy facilities.
Eligibility and Requirements
The eligibility criteria for the Dangote Refinery 2026 Graduate Trainee Programme include the following:
- Applicants must be 28 years and below
- Candidates must possess a Bachelor’s degree, HND, or diploma in relevant fields
- Applicants must demonstrate academic competence and readiness for industrial training in a high-performance environment
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Technical Roles Requirements
Candidates applying for technical positions must have qualifications in any of the following disciplines:
- Chemical Engineering
- Production Engineering
- Mining Engineering
- Geological Sciences
- Laboratory Sciences
- Biochemistry
Technical Support Roles Requirements
Applicants seeking technical support roles are required to have qualifications in:
- Mechanical Engineering
- Electrical Engineering
- Instrumentation Engineering
- Power Engineering
Support Function Roles Requirements
Candidates applying for support and administrative roles must have degrees or HNDs in any of the following areas:
- Accounting and Finance
- Social Sciences
- Humanities
- Business Administration
- Law
- Information Technology
The company noted that these categories are designed to ensure a balanced intake of talent across operational, technical and administrative functions within the refinery.
Training Structure and Opportunities
The programme will expose trainees to multiple departments including operations, maintenance, laboratory services, finance and corporate support functions. This structure is intended to equip participants with both technical expertise and managerial competence.
Industry analysts say the programme aligns with the Dangote Group’s broader strategy of building a skilled workforce to support its expanding operations at the Lekki-based refinery, which is among the largest in the world.
The initiative is also viewed as part of efforts to tackle youth unemployment by creating structured entry points into Nigeria’s industrial and energy sectors.
The company added that further details regarding application procedures and deadlines will be released through its official recruitment channels.
As of the time of filing this report, the 2026 Dangote Refinery Graduate Trainee Programme remains one of the most anticipated industrial recruitment opportunities in Nigeria.
Dangote Refinery Opens 2026 Graduate Trainee Programme For Young Professionals
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Auto
Meet Jetour G700: The 904HP Luxury beast shaking SUV world
Meet Jetour G700: The 904HP Luxury beast shaking SUV world
The battle for dominance in the premium SUV market just got fiercer as the Jetour G700 arrives with an outrageous 904-horsepower hybrid powertrain, futuristic luxury features and off-road capabilities designed to embarrass conventional rivals.
Far from being another luxury SUV, the G700 positions itself as a rolling statement of excess, power and cutting-edge engineering — a machine equally comfortable cruising through city boulevards or charging across unforgiving terrain.
At nearly 5.2 metres long, the G700 announces itself with unapologetic aggression.
Its boxy silhouette, towering stance, oversized grille and sharp matrix LED headlamps give it the presence of a military-grade explorer wrapped in executive styling.
But the real drama begins beneath the bodywork.
Powering the SUV is Jetour’s Kunpeng Super Hybrid CDM-O system, which combines a 2.0-litre turbocharged engine with dual electric motors to unleash a staggering 904 horsepower and 1,135Nm of torque.
Those numbers translate into astonishing performance for a vehicle of its size. The G700 rockets from 0 to 100km/h in just 4.6 seconds — territory usually reserved for elite supercars rather than heavyweight SUVs.
Despite its brutal acceleration, the G700 is engineered for endurance. It boasts a driving range of up to 1,400 kilometres, allowing long-distance adventures with fewer charging or refuelling stops.
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Jetour also ensures the vehicle is far more than a straight-line performer.
Its adaptive suspension system, triple differential locks and 970mm wading depth equip it for serious off-road punishment, from rocky trails to flood-prone roads. Adding to its arsenal is the eye-catching “Tank Turn” technology, enabling the SUV to rotate sharply in tight spaces like a military vehicle.
Inside, the G700 swaps rugged toughness for first-class indulgence.
A massive 35.4-inch 3K panoramic display dominates the cabin, creating a futuristic cockpit atmosphere, while premium Nappa leather massage seats deliver limousine-level comfort for occupants.
The luxury experience is amplified by an 18-speaker Lexicon sound system with Dolby Atmos, transforming the interior into a private concert hall on wheels.
Jetour pushes the innovation even further with a suite of unusual features aimed at adventure-focused buyers.
Certain editions come with rear turboprop assistance capable of generating additional thrust for escaping deep mud, while an onboard refrigerator drawer can cool drinks to -6°C or keep meals warm at 50°C.
An integrated oxygen supply system also supports driving at high altitudes, reinforcing the SUV’s long-distance expedition credentials.
Industry observers say the G700 signals Jetour’s intention to aggressively challenge established luxury SUV brands by combining electrified performance, premium comfort and hardcore off-road ability in one package.
The G700 is available in Nigeria through accredited dealerships including Elizade Nigeria Limited, New Era AutoVehicle Services Ltd, Kojo Motors, Germaine Auto Centre and Tab Autos Ltd, R.T. Briscoe and Mandilas Motors.
Meet Jetour G700: The 904HP Luxury beast shaking SUV world
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Insurance
Lasaco Assurance Posts 81.5% Profit Surge in Q1 2026 Results
Lasaco Assurance Posts 81.5% Profit Surge in Q1 2026 Results
Lasaco Assurance Plc has begun the 2026 financial year on a strong note, posting an 81.5% increase in profit after tax in its unaudited Q1 2026 financial results, driven by improved underwriting performance, stronger investment returns, and enhanced operational efficiency. The company recorded a profit after tax of ₦2.36 billion, up from ₦1.30 billion in the same period of 2025, reflecting sustained momentum in its core insurance operations in Nigeria.
A key highlight of the performance was the sharp growth in insurance service results, which rose by 119.6% to ₦4.22 billion, compared to ₦1.92 billion in Q1 2025. The company attributed this growth to stronger risk selection processes, improved claims management efficiency, and a more profitable insurance portfolio structure, which helped enhance underwriting margins.
Lasaco Assurance also recorded significant growth in net insurance and investment results, which increased by 74.7% to ₦5.14 billion, up from ₦2.94 billion in the previous year. This performance underscores the company’s ability to balance income from insurance underwriting activities with returns from its investment portfolio, even amid a challenging economic environment.
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The company’s total assets rose by 16.6% to ₦46.20 billion, compared to ₦39.63 billion recorded in March 2025, reflecting steady balance sheet expansion. Cash and cash equivalents also grew by 24.5% to ₦18.45 billion, strengthening liquidity and improving the company’s capacity to meet claims obligations and operational needs. In addition, reinsurance contract assets increased by 34.9%, signalling higher risk-sharing arrangements and improved underwriting capacity.
A major financial highlight was the turnaround in retained earnings, which moved from a negative position of ₦573 million in December 2025 to a positive ₦1.55 billion in Q1 2026. This improvement reflects stronger earnings quality and reinforces shareholder confidence in the company’s long-term financial stability and growth outlook.
The company also reported an 81.5% increase in earnings per share (EPS), which rose to 21.29 kobo from 11.73 kobo, highlighting improved profitability and efficient capital utilisation.
Operating expenses increased by 30.3% to ₦1.81 billion, driven by planned investments in business expansion, technology, and operational improvements. Despite the rise in costs, revenue growth significantly outpaced expenditure, resulting in stronger overall profitability and improved margins.
The Q1 2026 results reflect Lasaco Assurance’s continued focus on product innovation, risk management, and customer service enhancement. With strong earnings growth, improved liquidity, and a healthier balance sheet, the company is positioned to sustain its momentum in Nigeria’s insurance sector performance outlook for 2026.
Lasaco Assurance Posts 81.5% Profit Surge in Q1 2026 Results
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