General
Engineers India Limited to Develop Dangote Refinery’s Train-2
By Adedapo Adesanya
The Dangote Group has signed a new agreement with Engineers India Limited (EIL) for the development of the Train-2 of Lagos-based Dangote Refinery.
This is part of the company’s plans to Dangote Refinery’s plan to become the world’s largest petroleum refinery, overtaking Reliance’s Jamnagar Refinery in Gujarat, India which has a refining capacity of 1.24 million barrels per day
The Memorandum of Understanding, MoU, was signed by Ms Vartika Shukla, Chairperson and Managing Director of EIL, and Mr Aliko Dangote, President and Chief Executive of the Dangote Group, marking one of the continent’s most ambitious downstream investments yet.
The move positions Nigeria to become a major global refining hub, with potential ripple effects on fuel imports, regional supply stability, and petrochemical markets.
In a statement, EIL described the deal as a “pivotal milestone” that reinforces its longstanding partnership with the Dangote Group and showcases India’s engineering capabilities.
According to the company, the second train will further consolidate the refinery’s standing as one of the world’s largest single-site integrated refining complexes, supported by world-class petrochemical and fertilizer units.
EIL said it will deploy its “extensive global experience, multidisciplinary capabilities and proven execution model” to support the new development phase, which is expected to deepen Nigeria’s energy security and industrial capacity.
Dangote, whose refinery has already begun phased operations, noted that the expansion aligns with the company’s long-term vision to make Nigeria self-sufficient in petroleum products while creating a strong export base.
The combined 1.4 million barrels per day output could reposition West Africa’s fuel supply chain, potentially reducing import dependence for more than 15 countries across the sub-region.
The Dangote Refinery, located in the Lekki Free Zone area of Lagos, is touted as Africa’s most strategic downstream asset and one of the world’s most complex refining systems.
With Train-2 now in motion, stakeholders say the project is set to redefine Nigeria’s participation in global oil markets while attracting billions of dollars in downstream investments.
Dangote Refinery earlier this week onboarded Honeywell to help provide advanced catalysts, equipment, and prices technologies that will enable it to process wider range of crude grades and improve product quality.
The partnership also extends to Dangote’s petrochemical operations, which using Honeywell’s Oleflex technology will scale polypropylene production to 2.4 metric tonnes annually.
General
Egbin Power Commissions 80 New Staff Housing Units
By Modupe Gbadeyanka
In further demonstration of its unwavering commitment to its workforce, Nigeria’s foremost power generation company, Egbin Power Plc, has unveiled 80 new residential housing units for employees within its plant premises in Egbin, Lagos State.
This comprises 40 fully furnished three-bedroom apartments and 40 furnished studio apartments, all designed to contemporary standards.
The units feature modern infrastructure and thoughtfully planned utilities, creating a safe, comfortable, and conducive living environment that supports both employee productivity and family well-being.
This strategic investment underscores the company’s philosophy that a well-supported workforce is fundamental to sustained operational excellence.
The new housing units are part of a holistic strategy to cultivate a stable, motivated, and future-ready workforce.
This strategy extends beyond infrastructure to encompass robust career development and recognition. Over the past three years, Egbin Power has promoted 112 employees across various cadres, reinforcing a culture that rewards merit, performance, and long-term dedication
“At Egbin Power, our people are our most valuable asset. Even amidst the prevailing liquidity and operational realities within the broader power sector, our focus on employee welfare has remained deliberate and consistent.
“This significant expansion of our residential estate is a tangible expression of that commitment.
“It is one of several key initiatives aimed at ensuring our employees feel genuinely supported, allowing them to thrive both personally and professionally,” the chief executive of Egbin Power, Mr Mokhtar Bounour, said.
Initiated in 2025 and completed in January 2026, this project is the latest milestone in Egbin Power’s structured and ongoing approach to enhancing employee welfare. It reflects the energy firm’s dedication to fostering a culture where every team member feels valued, secure, and motivated.
General
NGX Group, CSCS, WIMBIZ to Ring Bell for Gender Equality
By Aduragbemi Omiyale
On Tuesday, March 10, 2026, at the Nigerian Exchange Group House in Lagos, the role of capital markets in promoting gender equality will be reemphasised through the closing gong ceremony in commemoration of International Women’s Day 2026.
The ceremony is part of the global Ring the Bell for Gender Equality campaign, which mobilises stock exchanges worldwide to expand women’s participation in the economy and advance gender-inclusive practices.
In Nigeria, the NGX Group is partnering with the Central Securities Clearing System (CSCS) Plc and Women in Management, Business and Public Service (WIMBIZ) to make it memorable under the theme Rights. Justice. Action. For ALL Women and Girls.
Dignitaries expected at the ceremony include the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu; the First Lady of Imo State, Mrs Chioma Uzodimma; the Executive Commissioner for Legal and Enforcement at the Securities and Exchange Commission (SEC), Ms Frana Chukwuogor; foremost actor, Ms Funke Akindele; a Director at the NGX Group, Ms Ojinnika Olaghere; and another staffer of NGX Group, Mrs Fatima Wali-Abdulrahman, alongside board members of NGX Group, regulators, capital market stakeholders, and industry leaders.
NGX Group is joining other exchanges worldwide in sounding the NGX Gong to underscore the importance of inclusive leadership, equal opportunities, and stronger market accountability in advancing gender equality.
General
IWD: Dolapo Akanbi-Alade of Pathway Holdings Urges Stronger Inclusion of Women in Finance
By Adedapo Adesanya
The Executive Director/GCOO of Pathway Holdings Limited, Mrs Dolapo Akanbi-Alade, has called for increased inclusion of Nigerian women in finance as the world marks International Women’s Day 2026.
International Women’s Day 2026 is marked every March 8, and this year’s theme is Give To Gain.
In a statement shared with Business Post, Mrs Akanbi-Alade noted that while International Women’s Day highlights the need for gender equality, significant progress requires deliberate policies and systems that expand women’s access to finance and leadership opportunities.
She emphasised that many Nigerian women and women-led businesses still face limited access to finance, highlighting the urgent need for targeted inclusion initiatives.
“At Pathway Holdings, we empower women and give access to investment advisory, asset management, and lending solutions for institutions, high-net-worth individuals, and businesses. Ensuring that women and women-led enterprises can access these opportunities is critical to building a more inclusive financial system,” she added.
Mrs Akanbi-Alade said, “Women’s access to finance is not only a social responsibility but essential for national productivity and economic growth’’. She co-founded the following companies:
Pathway Asset Management Limited is registered and regulated by the Securities and Exchange Commission, Nigeria, as a Fund and Portfolio Manager. The product range includes Pathway Fixed Deposit Notes, Privately Managed Notes, Pathway Private Portfolio Management, Investment Advisory, and Mutual Funds, which will be launched soon.
Pathway Advisors Limited is registered and regulated by the Securities and Exchange Commission (SEC) as an Issuing House and financial adviser. Pathway Advisors’ services cover Mergers and Acquisitions (M&A), Capital-Raising, Financial Advisory, Rating Advisory, and Project and Structure Finance.
Fundbox Financial Services Limited is a wholly owned micro-lending company providing short-term personal and SME finance loans to salaried individuals, self-employed personnel, and small businesses. They offer services which include Cars4Cash, SME Loans, Personal Loans, and Group Employee Loans. Fundbox has successfully disbursed a wide range of loans to both corporate and individual clients, supporting their financial needs and business growth.
Pathway Holdings Limited is a notable investment holding firm focusing on private market investments, including private equity, private credit, and infrastructure. Pathway creates customised investment solutions for institutional investors and individuals, leveraging its extensive experience and local footprint.
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