Economy
Manufacturers Advocate Government Support for Dangote Refinery
By Modupe Gbadeyanka
The need for the government to support Dangote Refinery to attract more investments in the country has been emphasised by the Manufacturers Association of Nigeria (MAN).
They argued that frustrating investors like Mr Aliko Dangote could scare others from putting their money into the country’s economy.
Speaking during a tour of the Dangote Petroleum Refinery, Petrol Chemical Complex and Fertilizer Plant in Lagos, the president of MAN, Mr Francis Meshioye, said all must be done to protect Dangote Refinery to serve as an impetus for other investors to invest in the downstream sector of the petroleum industry in the country.
He described the Dangote Refinery as a game-changer in the Nigerian oil and gas industry, saying that it is not only creating jobs and driving economic growth but also contributing to our nation’s energy security and self-sufficiency.
According to him, the project is quite inspiring, and he admired the inspiration of the promoter of the project, Aliko Dangote.
“To have been inspired to establish this facility is very magnificent, it is the first ever in Africa and the first ever of such refinery in the whole world. It has many first, first and first,” he stated.
“The company has the capacity to produce all our needs locally, petroleum, and other similar products: no one would come to the facility and he would not be inspired or encouraged to ensure that all the support that the company requires should be given to it,” he added.
The MAN President said the government should do all that is humanly possible to ensure that the facility works optimally.
“It is prudent and expedient that the necessary supports are given to the company for the economic benefits of Nigeria,” he submitted.
“If the facility can produce 650,000 barrels of crude per day and Nigeria is producing far above this volume per day, she should give the facility all crude it needed to produce,” Mr Meshioye noted.
He said, apart from the fact that the facility can give Nigerians what they need locally, the excess will be exported, and when they are exported, the country benefits because it will earn foreign exchange for the government.
“So, whichever way we look at it, the facility requires the government’s support to be able to operate optimally. We have seen the laboratory which is in a class of its own. It is first among equals around the world. It is functioning very well. It is a complex on its own.
“With this kind of facility that starts from quality control to quality assurance, just to ensure that the harmful effects of the products are at zero level, what can be greater than this? This is very unique and I will encourage all stakeholders to give maximum support, and not by the way support, but maximum support.”
“I cannot see anything that is lacking in this company, we have been here since morning and went through all the units. The facility can deliver products between 1760 trucks to 1800 trucks per day. So if you have such several trucks going out of the facility a day to various destinations in Nigeria, so many people will benefit from it.
“There will be more jobs, many families will be comfortable because of the jobs this will create, many artisans will benefit and it will have a spillover effect on so many sectors of the economy.
“If they can produce AGO, gasoline and Jet A fuel, this is good and the government should have no reason not to ensure the facility gets its backing to carry out its activities, because it is going to benefit massively,” he stated.
The MAN boss who stated that his organization is an advocacy group, said to a large extent it will support the Dangote Refinery by pushing its case with the government, and also solicit the support of necessary government agencies that can ensure that it operates fully.
The association, he said, always discusses with the government issues that affect its members and it has always listened to it , and always finds solutions to those issues, stating further that Dangote Refinery’s case will not be different.
“The sheer scale and ambition of this project is truly impressive, and we applaud the vision and determination of the Dangote Group in making this refinery a reality.
“As manufacturers, we understand the importance of reliable and affordable energy in driving our businesses forward. The Dangote Refinery will undoubtedly have a positive impact on the entire manufacturing value chain, providing a reliable source of fuel and petrochemical products that are essential for capacity utilisation and value addition.
“I believe that the success of the Dangote Refinery serves as an inspiration to all of us in the manufacturing sector. It demonstrates what is possible when we combine innovation, technology, and investment to create world-class facilities that benefit the entire nation,” Mr Meshioye said.
Nigeria’s business environment continues to evolve rapidly, presenting both opportunities and challenges for entrepreneurs. In recent years, digital transformation has become a cornerstone for growth, with businesses across various sectors embracing new technologies to remain competitive. For those looking to thrive in this dynamic landscape, understanding market trends and leveraging innovative strategies is crucial.
Whether it’s a startup or an established enterprise, success often hinges on adaptability, strategic planning, and the ability to seize emerging opportunities. Even in sectors like entertainment and sports, where trends shift quickly, businesses must stay agile to maintain relevance. For instance, some entrepreneurs are exploring new revenue streams such as online platforms, including activities like แทงบอล ufabet, which have gained popularity due to their accessibility and appeal to a broad audience.
The Nigerian Business Landscape in 2025
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Why Strategic Planning is Essential
Strategic planning is the foundation of any successful business. It involves setting clear goals, identifying resources, and developing actionable steps to achieve objectives. In Nigeria’s competitive market, businesses that invest time in strategic planning are better equipped to anticipate challenges, capitalize on opportunities, and adapt to changing circumstances. Effective planning also helps businesses allocate resources efficiently, minimize risks, and maximize returns. Entrepreneurs should regularly review and update their strategies to stay aligned with market trends and customer needs. By doing so, they can maintain a competitive edge and position their businesses for long-term success.
Leveraging Digital Tools for Growth
Digital tools have revolutionized the way businesses operate in Nigeria. From cloud-based software to social media platforms, these tools enable businesses to automate processes, enhance communication, and reach a global audience. For example, e-commerce platforms allow businesses to sell products online, while digital marketing tools help them target specific customer segments and measure campaign effectiveness. Additionally, mobile payment solutions have made transactions faster and more secure, improving customer satisfaction. By embracing digital transformation, businesses can increase efficiency, reduce costs, and expand their market reach.
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Overcoming Common Challenges
Nigerian businesses face a range of challenges, including access to finance, regulatory compliance, and competition. Access to capital remains a major hurdle for many entrepreneurs, particularly startups and small businesses. Regulatory compliance can also be complex and time-consuming, requiring businesses to stay informed about changing laws and policies. Additionally, intense competition in key sectors can make it difficult for businesses to differentiate themselves. To overcome these challenges, entrepreneurs should seek support from government agencies, industry associations, and financial institutions. Building strong networks and partnerships can also provide valuable resources and guidance.
Adapting to Market Trends
Adapting to market trends is essential for staying relevant in Nigeria’s fast-paced business environment. Entrepreneurs must stay informed about emerging trends, consumer preferences, and technological advancements. This can be achieved by conducting market research, attending industry events, and monitoring competitor activities. By anticipating changes and responding proactively, businesses can seize new opportunities and mitigate potential risks. For example, the growing demand for sustainable products and services presents opportunities for businesses to innovate and differentiate themselves.
Importance of Financial Management
Effective financial management is critical for business sustainability and growth. It involves budgeting, cash flow management, and financial reporting. Nigerian entrepreneurs should prioritize financial literacy and seek professional advice when needed. Proper financial management enables businesses to track performance, make informed decisions, and secure funding. It also helps businesses comply with regulatory requirements and build trust with stakeholders. By maintaining sound financial practices, entrepreneurs can ensure the long-term viability of their businesses.
Future Outlook for Nigerian Entrepreneurs
The future outlook for Nigerian entrepreneurs is promising, with continued growth expected in key sectors such as technology, agriculture, and renewable energy. The government’s focus on economic diversification and infrastructure development is likely to create new opportunities for businesses. Additionally, the rise of digital platforms and e-commerce is expected to drive innovation and expand market reach. Entrepreneurs who embrace change, invest in digital transformation, and prioritize strategic planning are well-positioned to succeed in Nigeria’s evolving business landscape.
By Adedapo Adesanya
The federal government, states and the Local Government Councils have received a sum of N1.928 trillion from the revenue generated in November 2025 by the federation.
According to a statement by the Federation Account Allocation Committee (FAAC), the earnings were shared at the December 2025 FAAC meeting held in Abuja, where the total distributable revenue comprised statutory revenue of N1.403 trillion, Value Added Tax (VAT) revenue of N485.838 billion, and Electronic Money Transfer Levy (EMTL) revenue of N39.646 billion.
It was disclosed that total gross revenue of N2.343 trillion was available in the month of November 2025, with N84.251 billion deducted for cost of collection and N330.625 billion for total transfers, interventions, refunds and savings.
FAAC stated that gross statutory revenue of N1.736 trillion was received for the month of November 2025, lower than the N2.164 trillion received in the month of October 2025 by N427.969 billion.
Gross revenue of N563. 042 billion was available from VAT in November 2025, lower than the N719.827 billion available in the month of October 2025 by N156.785 billion.
In November 2025, Excise Duty increased moderately while Petroleum Profit Tax (PPT), Hydrocarbon Tax (HT), CIT on Upstream Activities, Companies Income Tax (CIT), CGT and SDT, Oil & Gas Royalties, Import Duty, CET Levies, Value Added Tax (VAT), Electronic Money Transfer Levy (EMTL) and Fees recorded substantial decreases.
From the N1.928 trillion total distributable revenue, the federal government got N747.159 billion, the state governments received N601.731 billion, and the local councils shared N445.266 billion, while N134.355 billion was given to benefiting states as 13 per cent of mineral derivation.
On the N1.403 trillion distributable statutory revenue, the national government received N668.336 billion, the 36 states got N338.989 billion, and the LGAs received N261.346 billion, and N134.355 billion shared as 13 per cent of mineral revenue.
In addition, from the N485.838 billion distributable VAT revenue, the central government got N72.876 billion, the state governments shared N242.919 billion, and the local councils shared N170.043 billion.
Further, N5.947 billion was taken by the federal government from the N39.646 billion EMTL, the states shared N19.823 billion, and the councils received N13.876 billion.
By Adedapo Adesanya
The duo of Golden Capital Plc and FrieslandCampina Wamco Nigeria Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.04 per cent on Monday, December 15.
This pulled down the NASD Unlisted Security Index (NSI) by 1.37 points to 3,599.06 points from last Friday’s 3,600.43 points and the market capitalisation lost N820 million to close at N2.153 billion compared with the preceding session’s N2.154 trillion.
Golden Capital Plc depleted by 94 Kobo to end at N8.51 per share compared with N9.45 per share and FrieslandCampina Wamco Nigeria Plc depreciated by 63 Kobo to sell at N59.60 per unit versus N60.23 per unit.
During the session, the volume of securities traded at the session slumped by 98.4 per cent to 600,402 units from 37.4 million units, the value of securities fell by 99.8 per cent to N7.8 million from N4.9 billion, and the number of deals shed 36.4 per cent to 21 deals from 33 deals.
At the close of trades, Infrastructure Credit Guarantee Company (InfraCredit) Plc remained the most traded stock by value with a year-to-date sale of 5.8 billion units valued at N16.4 billion, followed by Okitipupa Plc with 178.9 million units transacted for N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
InfraCredit Plc was also the most traded stock by volume on a year-to-date basis with 5.8 billion units worth N16.4 billion, trailed by Industrial and General Insurance (IGI) Plc with the sale of 1.2 billion units for N420.3 million, and Impresit Bakolori Plc with 537.0 million units traded for N524.9 million.
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