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Nigeria’s Dangote Refinery Will Transform Our Downstream Sector — Ghana Petroleum Authority

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Chief Executive Officer, of the National Petroleum Authority (NPA) of Ghana, Mustapha Abdul-Hamid, said the coming onstream of 650,000 barrels-per-day (bpd) Dangote Petroleum Refinery will transform the Ghanaian downstream sector through the reduction in the cost of importation of petroleum products into Ghana.
Speaking at the 16th Oil Trading and Logistics Expo in Lagos with the theme: “Regulating Downstream Energy Transition in Dynamic Times”, Abdul-Hamid said the completion of the Dangote Petroleum Refinery project would be a breakthrough for the West African region which has for a long time depended on importation of petroleum products.

According to him, Ghana is presently facing the challenge of continuous rise in the cost of petroleum products, adding that getting importers to turn their attention towards Nigeria, rather than going all the way to the Netherlands for petroleum products importation, would help his country stem the tide of a continuous increase in the price of fuel.

He stated: “The Dangote Petroleum Refinery will have a huge impact on Ghana’s downstream sector. Right now, Ghana’s downstream industry is completely deregulated. There is no petrol subsidy in Ghana. For a deregulated market where the importers recover their costs fully, importing from Nigeria will certainly be more cost-effective and cheaper than importing from Rotterdam in the Netherlands where we get the bulk of our fuel in Ghana.

“As we all know, the price builds up for a liter of fuel will include the cost of shipment, transportation, insurance, and others, but if we are importing from Nigeria into Ghana, this will bring down the cost of fuel in our country. Ghanaians are very excited about the prospect of the Dangote Petroleum Refinery. Ghana had in the past built a good relationship where we get petroleum products from Nigeria at a reasonable and more affordable cost. I believe that the coming onstream of Dangote Petroleum Refinery will further strengthen the existing relationship between Nigeria and Ghana.”

Abdul-Hamid said the Ghanaian government was also developing a 60-billion-dollar petroleum hub project on 20,000 acres in the western part of the country for storage and marine facilities.

“All the above-mentioned projects will help accelerate the petroleum hub, consisting of refineries, and petrochemical development of the continent’s oil and gas resources, by connecting the downstream to the upstream. It will promote cleaner fossil fuels and biofuels as the pathway to a just energy transition. Gas has been accepted as the transition fuel because gas is the least carbon-emitting fossil fuel”, he added.

Speaking also at the event, Permanent Secretary, Ministry of Petroleum Resources, Nigeria, Gabriel Aduda said deregulation would increase transparency in the downstream sector of the petroleum industry. He said full deregulation would also create healthy competition among investors.

Aduda, who was represented by Mr. Augustine Okwudiafor, the Deputy Director, of Downstream Department, Federal Ministry of Petroleum Resources, noted that deregulation would give business guarantees to potential investors at the stage of conceptualisation. According to him, deregulation would significantly reduce, if not eradicate completely, the diversion and smuggling of petroleum products across Nigerian borders.

“All hands are on deck towards full deregulation of the downstream sector, as this will ensure commercialisation and liberalisation of the sector. It will also increase investment opportunities, create more jobs and promote a seamless energy transition. All these measures and many more will cushion the projected impact of downstream sector deregulation on consumers and the economy at large,” he said.

He further said data was key in the Oil and Gas Industry, and that any reliable and accurate data would give investors a certain level of assurance.

“Hence, the government is keen and determined to harmonise all downstream data across the relevant agencies and parastatals to eradicate data variations. The government, through the Ministry of Petroleum Resources, its agencies, and the Federal Ministry of Science and Technology, is considering enhanced technologies. They include Machine Learning (ML) and Artificial Intelligence (AI) to monitor and gather downstream data for effective policy formulation and investment guidance,” he said.

Aduda emphasised that oil also had a place in the energy transition space in the sense that oil could be made cleaner through the development and use of appropriate technologies. He said moving the downstream sector forward to that enviable position required collaborative efforts from all stakeholders. “I challenge you all to come along to move the downstream sector towards achieving the downstream we could all be proud of,” he added.

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BREAKING: CAF Slams Libya $50,000 Fine, Awards Super Eagles 3 Points

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The Confederation of African Football (CAF) has imposed a $50,000 fine on Libya over the “inhumane treatment” inflicted on the Nigerian national team, while awarding the Super Eagles three points and three goals.

This was revealed by Super Eagles captain, William Troost-Ekong, in a post on his X handle on Saturday.

The decision follows CAF’s investigation into Libya’s maltreatment of the Super Eagles upon their arrival in the North African nation for the return leg of the African Cup of Nations qualifiers.

“CAF awards three points and three goals to Nigeria. Libya fined $50,000.

“Plane was diverted 300km from scheduled airport even when the pilot told them he was low on fuel.

“One step closer to our target AFCON 2025,” Troost-Ekong wrote.

 

More to come…

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Court Gives Herbert Wigwe’s Cousin 8-Days Ultimatum To Explain Interest In Deceased Banker’s Estate

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The Lagos State High Court Probate Registry has given Christian Wigwe an ultimatum to explain his interest in the estate of his cousin, the late Herbert Wigwe, former group managing director and CEO of Access Bank.

Christian had lodged a caveat on behalf of Shyngle Wigwe, the father of the deceased, apparently to contest the estate’s distribution as specified in the late banker’s will.

A caveat is a formal written notice filed with the probate registry, challenging the validity of a deceased person’s will to halt estate administration until the matter is resolved. By filing the caveat, Christian aims to prevent the estate’s administration from proceeding without notification.

In a document dated 21 October, the Lagos probate registry issued a legal notice, giving the caveator, Christian, an eight-day ultimatum upon service to explain his interest in the estate of the late Herbert Wigwe.

“The Lagos State High Court Probate Registry setting forth what interest you have in the Estate of the above-named deceased, Late Herbert Onyewumbu Wigwe of No. 11 Oyinkan Abayomi Drive, Ikoyi, Lagos, contrary to the interest of the party at whose instance this warning is issued,” the notice reads.

The notice calls on Christian to respond and assert his interest in the estate of his deceased cousin. If he fails to respond within the given timeframe, he risks losing the opportunity to contest the probate process.

“If you have no contrary interest but wish to show cause against the sealing of a grant to such a party to issue and serve a Summons for direction by the Registrar of the said registry.

“And take notice that in default of your so doing the Court may proceed to issue a grant of Probate or Administration in the said Estate notwithstanding your Caveat,” the probate legal notice read.

The notice was issued at the instance of Uchechukwu Wigwe, the appointed personal representative of the estate under the deceased’s will dated 9 July 2013.

This requires Christian to appear at the Court Probate Registry to explain his interest in his late cousin’s estate.

Background

Christian Wigwe, the deceased’s cousin, in an affidavit dated 7 October and filed at the Lagos State High Court Probate Registry, accused Herbert Wigwe’s partner Aigboje Aig-Imoukhuede of assuming a role meant for the deceased’s father, Shyngle Wigwe.

There have been recent controversies within the Wigwe family regarding the deceased’s estate.

Reports on several online platforms indicated that Herbert’s father, Shyngle Wigwe, is allegedly at the center of a dispute over the distribution of his late son’s estate.

Christian reportedly filed a caveat to challenge the proposed distribution.

However, a statement signed by a family member, Emeka Wigwe, refuted these allegations, calling the reports “false and grossly misleading.” The statement emphasized the well-being and unity of the family and stated that no family member had sought 20 percent of the deceased’s estate.

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A Life Of Purpose And Leadership: Celebrating The Legacy Of AFRIMA’s Vice President, Modupe Temitope Dada

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Late Modupe Temitope Oriyomi Ige Dada will forever be remembered as a beacon of selflessness, compassion, and dedication. She lived a life of purpose, both professionally and personally. As a highly accomplished investment banking professional with over two decades of experience, Modupe touched countless lives through her work and her enduring spirit of service.

She was a woman of remarkable grace, strength, and immeasurable faith. Modupe was not only a dedicated professional but also a loving and caring wife, a nurturing mother, and a source of compassion for many.

Her life was defined by her deep commitment to relationships—whether as a friend, colleague, or family member. She had an innate ability to connect with others, always extending a helping hand, a listening ear, or comforting words to those around her.

As a wife, Mrs Dada embodied the true essence of love, submissiveness, and partnership. She was a supportive spouse, standing beside her husband, Mike Dada, in every endeavour. Mike Dada is the President and Executive Producer, All Africa Music Awards (AFRIMA) in partnership with the African Union, a global music award institution and the Managing Director of PRM Africa Marketing and Communication Limited as well as a lawyer and techpreneur.

Her home was built on a foundation of mutual respect, love, and faith. Modupe’s commitment to her family was steadfast, and she played an important role in nurturing and guiding her children, instilling in them the same values of love, service, and compassion that she lived by.

Known as a perfomer,Modupe excelled as a banking expert, recognized for her strategic leadership and operational excellence. At the time of her passing, she was serving as the Branch Manager at Fidelity Bank PLC, a position she assumed in September 2024. In a short period, she demonstrated her exceptional talent for turning around loss-making branches into profit-generating entities, a skill she had developed throughout her distinguished career.

Modupe’s journey began humbly as journalist with the Nigerian Tribune. After a brief stint as a Marketing Manager at My Phone Nigeria Ltd and serving as the Protocol Manager for the All Africa Games (COJA’03) in Abuja, she ventured into the banking sector. Her banking career started at the now-defunct Pacific Bank Ltd as a Customer Service Officer from 2004 to 2005.

In October 2005, Modupe became a cash officer at Unity Bank Plc, where she supervised the daily activities of cashiers and ensured compliance with cash limits.

Her operational expertise led to her promotion in December 2009 to Head of Operations at Unity Bank Plc, a position she held until March 2012. In this role, she ensured sufficient cash was available in the vault, managed cash limits for cashiers, and collaborated closely with commercial and consumer banking teams to develop value-chain marketing strategies for potential clients.

In February 2013, Modupe joined Keystone Bank Limited as a relationship manager for commercial banking. She played a vital role in formulating and implementing strategies for acquiring and retaining accounts across various sectors. Her efforts helped the branch achieve established goals and consistently meet performance targets.

Her dedication and outstanding performance resulted in her appointment as Branch Manager of Commercial Banking at Keystone Bank in October 2013, a position she held until June 2024. During her tenure, she demonstrated remarkable leadership by transforming two loss-making branches into profitable ones within just three months. She led initiatives to increase deposit positions, created quality risk assets, and provided overall team leadership to ensure the branch consistently met its financial targets.

In June 2024, Modupe was appointed as Sector Head for Private Banking (UHNI) at Keystone Bank, where she managed relationships with ultra-high-net-worth individual clients, offering customized financial solutions tailored to their unique needs.

She held this role before later joining Fidelity Bank PLC, where she served until her passing.

Her leadership was not solely about achieving numbers; it focused on fostering a culture of efficiency, team collaboration, and effective risk management. Under her stewardship, branches that were once struggling flourished, and her team thrived under her guidance.

Beyond her professional achievements,like her husband, Mrs. Dada was a lifelong learner. She earned an MBA in Marketing from Lead City University, along with a Postgraduate Diploma from Lagos State University. Her academic journey also included an HND in Mass Communication from The Polytechnic Ibadan,an OND from Ogun State Polytechnic, complemented by numerous professional certifications. Modupe’s relentless pursuit of knowledge led her to complete the Senior Management Programme at Lagos Business School and the Associate Chartered Banker Programme at the same institution. She is also an Associate Chartered Banker (ACIB).She was expected to conclude her Doctor of Business Administration (DBA) program in November 2024 before she passed on in October 2024.

She held certifications in Money Laundering Prevention & Compliance, the Terrorism Finance Act, Export Trade Training on Learning Management Systems (LMS), Cluster Compliance Training on the CBN Dollarization Policy, and Customer Due Diligence in Digital Banking, among others.

Mrs. Dada was more than just a leader; she was also a mentor, a team player, and a resilient goal-getter. Her strong communication skills, high sense of fashion,creative thinking, and global business mindset endeared her to both colleagues and clients. She was passionate about excellence and driven by the desire to contribute to the well-being of others.

Outside of banking, Modupe found joy in reading, traveling, fashion,helping others and learning. Her curious mind was always exploring new ideas and ways to improve both herself and her environment. She embodied grace, good character,resilience, and determination—qualities that made her an inspiration to many who crossed her path.

Not only was she an exemplary professional, but she was also a devoted lover of Christ who served God passionately throughout her life. Her faith guided her actions, decisions, and relationships, consistently embodying Christian values both at home and in her career.

Born on May 5, 1976, in Ijebu-Ode, Ogun State, Modupe took great pride in her roots. Her passing is a profound loss to all who knew her, but her legacy will live on through the institutions she helped build, the people she mentored, and the countless lives she touched throughout her career.

As we remember, Modupe Temitope Dada nee Baruwa, we honour not only her contributions to the banking industry but also her spirit of excellence, compassion, and dedication to making a difference. She was, and will always remain, a shining example of what it means to lead with purpose, integrity, and heart.

May her soul rest in peace.

 

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