The UK government will offer an annual £1.08 billion support budget for new offshore wind projects under its next renewable electricity auction, with £900 million dedicated to fixed-bottom developments and another £180 million for floating offshore wind farms to be delivered from 2028, the Independent reported.
The government said the expanded budget aims to spur investment in clean power capacity as part of its wider ambition to decarbonize the UK’s electricity grid by 2030, cut household bills, and strengthen energy security.
Developers will compete in the next round of Contracts for Difference (CfD) auctions to secure fixed prices per megawatt hour for the power they generate.
“Our competitive new auction process will allow us to buy the right amount of clean power at the right price on behalf of the British people, so we can take back control of our energy,” the Independent cited Energy Minister Michael Shanks as saying, adding that the plan represents “another step towards delivering the clean power this country needs to end our reliance on volatile global gas prices, ensuring our energy security and bringing down bills for good.”
According to Pranav Menon, senior researcher at Aurora Energy Research, the proposed funding may not be sufficient to achieve the government’s clean power targets. Menon told Bloomberg that if auction prices remain similar to last year’s, the allocation would likely secure around 4.9 GW of new capacity, which is well below the 7-9 GW needed to stay on course for the 2030 goal.
The UK aims to boost its offshore wind power capacity to between 43 GW and 50 GW by 2030, up from roughly 15 GW today. While the total CfD budget has increased from £800 million in 2024, the fixed-bottom portion has narrowed slightly as the government carved out a separate pot for floating projects. Industry analysts note that the move reflects a rebalancing of support rather than a cut.
The offshore wind sector continues to face headwinds from inflation, grid-connection delays, and supply chain constraints. These pressures have forced several major developers, including Ørsted, Shell, and Equinor, to cancel or delay high-profile projects in recent years.
Europe remains the world’s largest offshore wind market, accounting for roughly 92% of global floating wind capacity, while Asia-Pacific is projected to expand the fastest, growing nearly 160% annually through the end of the decade.
Support under the CfD scheme is funded through consumer energy bills rather than general taxation. If wholesale power prices fall below the guaranteed contract price, developers receive a top-up payment; if prices rise above it, the difference is returned to consumers.
While the increased budget marks a stronger push for clean energy, developers warn that persistently high costs and tightening supply chains could still make meeting the UK’s 2030 offshore wind targets an uphill task.
Jamaica has confirmed that there are no plans to shut down the national electricity grid despite the devastating impact of Hurricane Melissa, which has already cut power to more than 240,000 people across the island.
Several power generation units, critical high-voltage substations, and transmission and distribution lines have been forced out of service by hurricane-force winds and lightning strikes.
Energy, Telecommunications, and Transport Minister, Hon. Daryl Vaz, disclosed this on Tuesday while updating the nation on the impact of Hurricane Melissa.
“There is no plan at this point to shut down the grid. JPS crews continue to respond and restore critical facilities and customers where it is safe to do so,” the Minister said.
Approximately 240,000 people, representing 35 percent of customers of the Jamaica Public Service Company (JPS), are currently without electricity as the island continues to experience the worsening effects of the hurricane.
The most heavily impacted parishes are St. Elizabeth, Manchester, Hanover, and St. James, where an estimated 75 percent of customers are without power.
The least affected parishes include St. Thomas, Kingston and St. Andrew, and St. Catherine, with fewer than 10 percent of customers impacted.
Minister Vaz said the JPS has indicated that there is adequate generation capacity online to serve customers, though no renewable energy sources are currently available.
He added that the majority of hospitals remain connected to JPS power, except those in Manchester and St. Elizabeth—including Black River, Mandeville, and Percy Junor hospitals which are currently operating on standby generators.
The Ghana Electrical Contractors Association (GECA) has thrown its weight behind the Public Accounts Committee (PAC) of Parliament over its call for the prosecution of Electricity Company of Ghana (ECG) staff responsible for the GH¢180 million unapproved expenditure under the previous leadership.
GECA expressed deep concern over what it described as an act of indiscipline, noting that while ECG owed contractors for duly completed work, the company also failed to procure essential materials required to complete critical projects aimed at expanding access and improving network efficiency during the same period.
According to GECA, ECG’s actions have not only stalled progress in Ghana’s energy infrastructure but have also imposed undue hardship on contractors and professionals who have fulfilled their obligations in good faith.
“GECA fully supports the Committee’s recommendation that the Attorney-General prosecute those responsible for this gross mismanagement. Accountability is essential to restoring public trust, safeguarding contractor livelihoods, and ensuring that ECG can fulfill its mandate to deliver reliable and efficient electricity services,” the association said in a statement issued on Wednesday.
GECA further urged all relevant authorities to act swiftly and decisively, reaffirming its commitment to collaborate with stakeholders to uphold standards, protect the integrity of Ghana’s electrical sector, and ensure that justice is served.
Ghana’s premier petroleum refinery, Tema Oil Refinery (TOR), led by its Managing Director, Edmond Kombat Esq., has held discussions with Maurizio Pinna, Managing Director of ENI Ghana, to explore potential collaboration opportunities aimed at strengthening the country’s downstream petroleum sector.
The meeting, described as warm and productive, focused on identifying areas of mutual interest to support Ghana’s energy growth agenda.
Both executives expressed optimism about forging partnerships that could enhance operational efficiency, facilitate technology transfer, and attract investment within the downstream value chain.
The engagement forms part of TOR’s renewed strategy to reposition itself as a key player in Ghana’s energy industry through partnerships that drive modernization and sustainability.
ENI Ghana, a subsidiary of the Italian energy giant ENI, has long been active in the country’s upstream oil and gas sector. Its latest engagement with TOR signals a growing interest in expanding its footprint within the downstream sector to support national energy infrastructure.
Officials from both companies reaffirmed their commitment to collaboration that promotes energy security, job creation, and industrial growth, in line with Ghana’s broader goals for a sustainable and resilient energy sector.
Meanwhile, Tema Oil Refinery is currently undergoing turnaround maintenance, which is expected to be completed in the coming days to pave the way for the resumption of crude processing after several years of inactivity.
Nigeria’s Federal Government has assured managers of Africa’s largest petroleum refinery, the Dangote Refinery, of its full commitment to supporting the facility’s plan to expand its capacity from 630,000 barrels per day to 1.4 million barrels per day, making it the largest refinery in the world.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, conveyed the government’s position on Monday in Lagos while delivering a keynote address at the 19th Africa Downstream Energy Week.
The theme of this year’s event is “Energy Sustainability: Growth Beyond Boundaries and Competition.”
“I received the good news that the Dangote Refinery is expanding its capacity to 1.4 million barrels per day. That will not just save Nigeria or West Africa — it will save Africa and, indeed, make an impact globally. The Federal Government will support him all the way to accomplishing that goal,” the minister said.
Mr. Lokpobiri described the refinery’s expansion plan as a major milestone for Africa’s energy independence and a validation of the government’s policy direction under President Bola Ahmed Tinubu.
He explained that the removal of fuel subsidy and the liberalisation of the downstream petroleum sector were key policy decisions aimed at creating a viable environment for private sector investment.
“The main reason President Tinubu announced the removal of fuel subsidy on his first day in office was because, with subsidies, the private sector could not grow. The downstream can only thrive when the right business environment allows private capital to flow in, invest, and maximise opportunities.”
The minister noted that while some Nigerians initially misunderstood the policy, it has now led to a more stable and competitive petroleum products market.
“With deregulation and liberalisation, there is now healthy competition. Prices are stable, availability has improved, and products are more accessible and affordable despite challenges,” he said.
Mr. Lokpobiri stressed that if the government had not removed subsidies, Nigeria’s energy sector would be facing severe difficulties today.
He reaffirmed the Federal Government’s commitment to deepening investment in the oil and gas sector, noting that the global conversation on energy transition is shifting toward a more balanced perspective that recognises the continued importance of hydrocarbons.
“The world has realised that energy transition cannot happen in a vacuum. Even as we pursue cleaner sources, the global economy still depends on oil and gas. Without substantial investment in these resources, there will be no financial capacity to fund the energy mix we all desire.”
Citing recent United Nations reports, the minister said the world needs to invest about $540 billion annually in oil and gas recovery and related infrastructure to meet growing energy demand and ensure global energy security.
He added that while discussions on climate change and net-zero emissions remain important, the realities of global population growth and consumption patterns make it clear that hydrocarbons will continue to play a central role for decades to come.
“Africa, with a population exceeding 1.4 billion people, cannot afford to ignore investment in oil and gas. Expanding exploration, production, and refining capacity is crucial not only for self-sufficiency but also for the continent’s economic stability,” he said.
Mr. Lokpobiri noted that Nigeria’s downstream sector is gradually stabilising following subsidy removal, with improved product availability and increased investor confidence.
Meanwhile, Adetunji Oyebanji, Chairman of the Advisory Board of OTL Africa Downstream Energy Week, called for renewed collaboration, policy consistency, and innovation to drive Africa’s energy sustainability and competitiveness in a rapidly changing global landscape.
Mr. Oyebanji said the conference underscored the need for Africa and Nigeria to look beyond conventional limits and create an energy future anchored on integration, inclusiveness, and responsible growth.
He described the OTL Africa Downstream Energy Week as a bridge between policy and practice, bringing together regulators, operators, investors, and innovators to shape the future of Africa’s downstream energy industry.
“Energy sustainability is not merely about preserving resources; it is about ensuring that our growth today does not compromise the prosperity of tomorrow. We must build an industry that is competitive, responsible, and adaptable to a rapidly changing global environment,” he explained.
Mr. Oyebanji, a former Chairman of the Major Energy Marketers Association of Nigeria (MEMAN), noted that the global energy sector is undergoing major shifts, driven by geopolitical tensions, supply uncertainties, and the accelerating march toward energy transition.
He explained that conflicts in Eastern Europe and the Middle East have kept oil markets tight, while the global push toward cleaner fuels and renewables is reshaping investment priorities.
He stressed that Africa — richly endowed with natural resources and human capital — must move beyond being a supplier of raw hydrocarbons to becoming a hub for innovation, efficiency, and value addition.
“Africa must position itself not just as a source of energy, but as a source of innovation.
Our growth must be sustainable, inclusive, and borderless,” he added.
The Public Accounts Committee (PAC) of Ghana’s Parliament has directed that some staff of the Electricity Company of Ghana (ECG) responsible for unapproved budget overruns amounting to over GHC180 million in 2023 face prosecution.
During the committee’s sitting on Tuesday, October 28, Ranking Member Samuel Atta-Mills disclosed that ECG exceeded expenditure on thirteen budget line items without the approval of the company’s board, citing findings from the Auditor-General’s report.
According to the report, while the company budgeted GHC2.8 million, GHC4.2 million, GHC40 million, and GHC3.1 million for staff fuel, communication, consultancy, and stakeholder expenses respectively, actual spending ballooned to GHC3.6 million, GHC7.9 million, GHC58.6 million, and GHC49 million — all without board approval.
“Staff fuel — did they drive around the world? The budget was 2.8, yet you spent 3.6 million. Communication expenses — ECG budgeted 4.2 million but spent 7.9 million. Consultancy — the budget was 40 million, but you spent 58.6 million. All these were done without board approval. Stakeholder expenses — the budget was 3.1 million, yet you spent 49 million, and you still want to increase tariffs,” Mr. Atta-Mills stated.
He further recommended that the managers involved be referred to the Attorney General for prosecution over what he described as financial indiscipline.
“This is a clear case of financial indiscipline. Those managers who were involved should face the Attorney General for prosecution,” he added.
The names of the ECG staff implicated in the matter have not yet been disclosed.
Nigerian police on Tuesday sealed the corporate headquarters of Nestoil Limited in Victoria Island, Lagos, with multiple padlocks and cordoned off the area following a Federal High Court order authorising the seizure of the company’s assets by a consortium of lenders over its failure to repay a $1 billion debt.
There was heavy security presence at the premises as the enforcement order was carried out, with several pedestrians watching in disbelief.
The police restricted access to the building, according to our editor, Michael Creg Afful, who is in Lagos for the Nigeria Energy 2025 conference.
The enforcement followed a directive issued by Justice D. I. Dipeolu of the Federal High Court, Lagos Division, on 22 October 2025, granting a Mareva injunction against Nestoil Limited and its affiliate, Neconde Energy Limited, as well as their principal promoters, Ernest Azudialu-Obiejesi and Nnenna Obiejesi.
The court action stemmed from a debt claim filed by FBNQuest Merchant Bank Limited and First Trustees Limited against Nestoil, Neconde Energy, and their directors.
The plaintiffs alleged that the companies and their promoters owed more than $1.01 billion and ₦430 billion as of 30 September 2025, in respect of various credit facilities.
Justice Dipeolu granted multiple orders freezing the defendants’ bank accounts and shares across more than 20 financial and other institutions in Nigeria, including Citibank Nigeria Limited, Central Securities and Clearing Systems PLC, Fidelity Bank PLC, Guaranty Trust Bank PLC, Globus Bank Limited, Keystone Bank Limited, Opay Limited, Polaris Bank Limited, Providus Bank Limited, Stanbic IBTC Bank Limited, Standard Chartered Bank Nigeria Limited, Sterling Bank PLC, Titan Trust Bank Limited, Unity Bank PLC, Wema Bank PLC, Gobowen Exploration and Production Limited, Hammako Consortium Limited, Krawcod Properties Limited, Santa Spring Oil and Gas Limited, Marine & Ocean Infinity Nigeria Limited, and White Dove Shipping Co. Ltd.
The court also authorised Abubakar Sulu-Gambari (SAN), the receiver/manager appointed by the plaintiffs, to take over Nestoil’s headquarters located at 41/42 Akin Adesola Street, Victoria Island, Lagos, and other identified assets.
In addition to freezing Nestoil’s assets and those of its subsidiaries, the court directed multiple security agencies, including the Nigeria Police Force, the Nigerian Navy, and the State Security Service (SSS), to provide protection and assist in enforcing the takeover.
The order further empowered the receiver/manager to assume control of Neconde Energy’s interests in Oil Mining Lease (OML) 42, jointly operated with the Nigerian National Petroleum Company Limited (NNPCL) and its subsidiaries.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and NNPCL were also instructed to grant the receiver access to the oil block and cooperate in managing production and revenue flows.
The Federal High Court adjourned the case to 7 November 2025 for the hearing of the substantive motion on notice.
This development marks a significant setback for Nestoil, one of Nigeria’s leading indigenous oil and gas engineering firms, known for major pipeline and infrastructure projects.
The company is yet to comment on the development.
Nigeria’s national oil company, NNPC Ltd, has reiterated its commitment to developing and revamping downstream infrastructure across the country to enhance collaboration and drive efficiency in the sector.
Addressing attendees at the opening of the 2025 OTL Africa Downstream Energy Week in Lagos on Monday, the Group Chief Executive Officer of NNPC Ltd, Engr. Bayo Ojulari, said competition alone was no longer enough to drive efficiency, adding that operators must embrace collaboration, sustainability, and resilience as the new benchmarks for success.
“At NNPC, we are committed to deploying additional infrastructure across the oil and gas value chain while revamping our existing downstream infrastructure nationwide. These assets will be accessible to partners seeking to store and transport products, supporting strategic alliances and collaboration in the downstream sector,” the GCEO said.
He disclosed that a combination of factors — including strategic policies, fiscal incentives, and transparent, well-structured regulatory frameworks exemplified by the Petroleum Industry Act (PIA) — has fostered expansion and growth in the sector, requiring new skill sets and further investments in emerging business areas such as Liquefied Petroleum Gas (LPG), Compressed Natural Gas (CNG), and mini-LNG projects.
Ojulari urged participants at the conference to discuss challenges and align on opportunities “to redefine energy systems in ways that are both profitable and sustainable, to forge cross-sector partnerships that transcend traditional competition, and to explore innovative business models and technologies that support decarbonization while driving economic value.”
The OTL Africa Downstream Energy Week is the continent’s leading downstream and midstream energy event, bringing together international organizations, policymakers, regulators, development partners, operators, service providers, and consumers across the downstream energy value chain.
Russian oil giant Lukoil is seeking buyers for its international assets following the imposition of new restrictive measures by the United States against the company and its subsidiaries.
The move marks a major shift for one of Russia’s largest private oil producers, as Western sanctions continue to exert pressure on the country’s energy sector.
Lukoil has begun reviewing bids from potential buyers for its assets, with the sale process being conducted under a U.S. Office of Foreign Assets Control (OFAC) wind-down license, according to a company statement.
The company added that it may seek an extension of the license, if necessary, to ensure uninterrupted operations of its international assets during the transition.
The decision comes after U.S. President Donald Trump, on October 22, imposed sanctions targeting Lukoil and Rosneft amid rising tensions over the Russia-Ukraine conflict.
Additionally, the European Union (EU) has approved its 19th sanctions package against Russia, which includes a ban on Russian liquefied natural gas (LNG) imports.
TotalEnergies SE and its partners will end force majeure on their liquefied natural gas project in Mozambique, paving the way for work to formally restart on the export terminal after years of suspension, the company said.
Total in 2021 froze the $20 billion plan to build what was at the time hailed as Africa’s biggest private investment, after Islamic State-linked militants carried out a major attack on the nearby town of Palma, in northeast Mozambique.
“The Mozambique LNG consortium has taken the decision to lift the force majeure and the Mozambican presidency was officially informed on Friday by means of a protocol letter,” TotalEnergies said in a statement. “As a final step before fully relaunching the project, Mozambique’s Council of Ministers needs to approve an addendum to the plan of development with the updated budget and schedule.”
The decision to lift the suspension follows a deal reached between the government and Total’s consortium on how to treat future taxes against $4.5 billion in additional costs incurred since 2021, according to the local news site Zitamar, which reported the news earlier.
The $20 billion estimate was made before the project was halted, and it’s unclear how much the updated plan will cost.
The project promises to help transform the economy of one of the world’s poorest nations. Yet the Mozambique LNG plant is located in a region ravaged by an Islamist insurgency since 2017. While foreign troops helped contain the violence after the 2021 attack, there’s been a resurgence in recent months.
Nearly 100,000 people have been displaced since September, the United Nations Office for the Coordination of Humanitarian Affairs said this week.
With 633 incidents targeting civilians recorded so far, 2025 is on track to become one of the most violent in recent history, according to the organization.
Mali’s military junta has suspended schools and universities across the country due to a severe fuel shortage caused by a blockade on fuel imports imposed by Islamist insurgents, the BBC has reported, citing the country’s Minister for Education, Amadou Sy Savane.
In a televised address, the minister announced that all educational institutions would remain closed until 9 November, noting that the movement of staff and students had been disrupted by the blockade.
He added that the authorities were “doing everything possible” to resolve the crisis so that classes could resume on 10 November.
In a separate statement, the Interministerial Committee for Crisis and Disaster Management said that restrictions would be placed on fuel supplies until “further notice,” with priority given at designated stations to emergency, assistance, and public transport vehicles.
For weeks, Mali has faced a worsening fuel shortage, particularly in the capital, Bamako, after militants affiliated with al-Qaeda imposed a blockade by attacking fuel tankers on major highways.
As a landlocked nation, Mali depends entirely on road transport for fuel imports from neighbouring countries such as Senegal and Ivory Coast.
Long queues have formed at petrol stations in Bamako in recent weeks, and the city’s usually bustling streets have reportedly fallen quiet.
Earlier this month, the military government had assured residents that the situation was temporary, but the crisis has persisted.
Last week, the U.S. Embassy in Bamako announced that non-essential diplomatic staff and their families would leave Mali amid the worsening fuel shortage and escalating security concerns.
The embassy said the disruptions had affected electricity supply and had the “potential to disrupt the overall security situation in unpredictable ways.”
Mali is currently ruled by a military junta led by Gen. Assimi Goïta, who seized power in a 2021 coup.
The junta initially enjoyed popular support, having promised to resolve the long-running security crisis triggered by a separatist rebellion in the north led by ethnic Tuaregs, which was later hijacked by Islamist militants.
The UN peacekeeping mission and French forces, deployed in 2013 to combat the insurgency, have since withdrawn following the junta’s takeover. In their place, the military government has enlisted Russian mercenaries to help tackle insecurity.
However, the jihadist insurgency has persisted, and large parts of the north and east of the country remain outside government control.
Experts at a high-level panel discussion on the topic “CNG: A Lower-Carbon Energy to Grow Africa’s Communities”, during the recently concluded African Energy Week 2025, have called for urgent investment in gas infrastructure across the continent to promote access to clean and affordable energy.
The panel featured Yann Yangari, Partner at Flamboyant Services; David Pappoe, CEO of Energas West Africa Limited; Dr. Riverson Oppong, CEO of the Chamber of Oil Marketing Companies (COMAC); and Declan Nwokoro, Managing Director of NNPC Gas Marketing Ltd. (NGML).
The experts underscored Africa’s vast gas potential, estimated at about 630 trillion standard cubic feet, and emphasized the need to harness these resources to drive industrial growth, expand energy access, and improve living standards.
They noted that Compressed Natural Gas (CNG) plays a critical role in reducing carbon emissions and providing a cheaper, cleaner alternative to traditional fuels such as diesel and petrol. CNG, they said, offers significant benefits for transport, power generation, and domestic use, while supporting Africa’s transition to a lower-carbon economy.
Leading the discussion, Dr. Riverson Oppong, CEO of COMAC, urged African leaders to recognize that the continent is both a producer and consumer of gas, and therefore must prioritize the development of infrastructure to increase local utilization instead of focusing on exports.
Dr. Riverson Oppong, Chief Executive Officer of Chamber of Oil Marketing Companies, COMAC.
He noted that countries such as Nigeria and Ghana already use gas for electricity generation and criticized the ongoing plan to construct a gas pipeline from Nigeria to Morocco to supply Europe, arguing that such investments should instead focus on meeting Africa’s own energy needs.
“Instead of building a gas pipeline from Nigeria to Morocco to serve European countries, we should build pipelines to supply our own. Africa first,” Dr. Riverson asserted.
GOIL PLC, Ghana’s leading indigenous oil marketing company, continues to expand its operations to offer quality fuel and lubricants to customers with the opening of a brand-new service station at Esereso in Kumasi, in the Ashanti Region.
Situated in a strategic location that offers convenience to both motorists and residents, the Esereso Service Station embodies everything customers value about GOIL — ease, quality, and comfort.
At Esereso, customers are guaranteed top-quality fuels — Super XP, Diesel XP, and Super XP 95 — all high-performance fuels designed to deliver maximum power and engine efficiency.
The station also features a Lube Bay, offering trusted GOIL lubricants; a Service Centre with vulcanizing and wheel alignment services; a Mart stocked with everyday essentials and refreshments; as well as a GO Café, Barbering Shop, and Washing Bay.
In his address at the opening ceremony, the Dealer for the Esereso Service Station, Mr. George Asonaba Boadi, urged Ghanaians to look beyond minor price differences and focus on quality and national development.
“GOIL belongs to every Ghanaian,” he said. “Let’s not concentrate on the little price differences but on the quality of fuel and the protection it offers our engines. When you buy from GOIL, you’re fueling national progress and ensuring that even the smallest community in Ghana has access to a fuel station.”
The Head of Fuels Marketing at GOIL PLC, Mr. Emmanuel Kwame Agyiri, emphasized that GOIL will not rest on its laurels and remains committed to ensuring that all parts of the country have access to quality fuel products.
“GOIL remains dedicated to delivering top-quality fuels and ensuring that our services reach every corner of Ghana,” he stated.
In her welcome address, the Zonal Manager for the Middle Belt Zone, Ms. Margaret Ennin, expressed her excitement about the new addition, noting that the Esereso Service Station marks the 86th GOIL station in the zone.
She noted that the opening of the station reflects GOIL’s continued commitment to bringing quality, convenience, and comfort closer to its customers.
“The Esereso Service Station stands as a symbol of progress and pride. Every Ghanaian who fuels with GOIL helps drive national growth, one community at a time. Here, customers don’t just fill their tanks — they experience comfort, care, and the true spirit of Good Energy,” she said.
Africa’s largest petroleum refinery, the Dangote Petroleum Refinery, based in Lagos, Nigeria, is set to become the world’s largest petroleum refinery as officials announced plans to expand its production capacity from 650,000 barrels per day (bpd) to 1.4 million barrels per day within the next three years.
Alhaji Aliko Dangote, owner of the refinery, announced the plan on Sunday in Lagos, during a media briefing.
He said the expansion reflects his confidence in Nigeria’s economic potential and Africa’s energy future.
“This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential, and our commitment to building energy independence for our continent and the world.It is about confidence in Nigeria, in Africa, and in our capacity to shape our own energy future,” Dangote stated.
Dangote explained that the project aligns with President Bola Tinubu’s vision of making Nigeria a global supplier of petroleum products.
He commended the President for supportive initiatives such as the Nigeria First Policy, Naira-for-Crude Policy, and the creation of a one-stop shop for investors, which he said have spurred industrial growth and strengthened investor confidence.
He added that the expansion would help meet rising regional demand, reduce dependence on fuel imports, save billions in foreign exchange, and enhance Nigeria’s energy security.
Dangote revealed that the construction of the new facilities would employ over 65,000 workers, creating opportunities across local industries and building Africa’s technical capacity for large-scale infrastructure.
The business mogul also disclosed plans to increase polypropylene production from 900,000 metric tonnes to 2.4 million metric tonnes per annum, boosting the local supply of industrial inputs such as linear alkylbenzene (for detergent production) and base oils.
The business mogul also disclosed plans to increase polypropylene production from 900,000 metric tonnes to 2.4 million metric tonnes per annum, boosting the local supply of industrial inputs such as linear alkylbenzene (for detergent production) and base oils.
“With this expansion, the refinery will transition from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks.
“It will also expand our power generation capacity, ensuring full operational self-sufficiency.”
He said more than 85 per cent of the refinery’s workforce are Nigerians, with ongoing investments in skills development, safety, sustainability, and technology transfer.
“We remain committed to safety, sustainability, and local participation at every stage of this expansion.
“Our goal has never been just to refine oil, but to refine opportunities for our people,” he added.
Dangote also announced plans to list the Dangote Refinery and Petrochemical Complex on the Nigerian Exchange Ltd. within the next year, a move aimed at promoting broad ownership and transparency.
“Our long-term goal is to build Africa’s leading integrated energy and petrochemical hub, the first of its kind on the continent,” he said.
Dangote also assured Nigerians of steady fuel supply during the festive period, in spite of the recent global oil price increases.
“As we approach the end of the year, Nigerians often face fuel shortages and price hikes.
“I want to assure everyone that the Dangote Refinery is fully committed to maintaining uninterrupted supply throughout the festive season.
“For the first time in many years, Nigerians can look forward to a festive season free of fuel anxiety.” he explained.
He expressed gratitude to President Tinubu, the Federal and Lagos State Governments, the refinery’s host community in Lekki, financial partners, and the company’s dedicated workforce for their support.
“This expansion is not just about increasing capacity, it’s about confidence in our people, our country, and our continent.
“Together, we are building a stronger Nigeria and redefining what is possible for Africa,” he said.
Dangote also urged other refinery license holders to collaborate in achieving the government’s goal of making Nigeria Africa’s refining hub.
“When Africa builds its own capacity, it builds its own destiny,” he said
The engagement forms part of TOR’s renewed strategy to reposition itself as a key player in Ghana’s energy industry through partnerships that drive modernization and sustainability.
ENI Ghana, a subsidiary of the Italian energy giant ENI, has long been active in the country’s upstream oil and gas sector. Its latest engagement with TOR signals a growing interest in expanding its footprint within the downstream sector to support national energy infrastructure.
Officials from both companies reaffirmed their commitment to collaboration that promotes energy security, job creation, and industrial growth, in line with Ghana’s broader goals for a sustainable and resilient energy sector.
Meanwhile, Tema Oil Refinery is currently undergoing turnaround maintenance, which is expected to be completed in the coming days to pave the way for the resumption of crude processing after several years of inactivity.
“GOIL remains dedicated to delivering top-quality fuels and ensuring that our services reach every corner of Ghana,” he stated.
In her welcome address, the Zonal Manager for the Middle Belt Zone, Ms. Margaret Ennin, expressed her excitement about the new addition, noting that the Esereso Service Station marks the 86th GOIL station in the zone.
She noted that the opening of the station reflects GOIL’s continued commitment to bringing quality, convenience, and comfort closer to its customers.
“The Esereso Service Station stands as a symbol of progress and pride. Every Ghanaian who fuels with GOIL helps drive national growth, one community at a time. Here, customers don’t just fill their tanks — they experience comfort, care, and the true spirit of Good Energy,” she said.
