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Fashola says Lagos chose long-term gains over land revenue in Dangote Refinery deal

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Former Lagos State Governor Babatunde Fashola has revealed that his administration offered the Dangote Group a discounted price for land in the Lekki Free Zone to secure what later became the Dangote Petroleum Refinery, describing the move as a strategic investment that has delivered long-term economic benefits.

Fashola made the disclosure during his keynote address, titled “From Presence to Power: Advancing Women’s Influence in the Boardroom,” at the Chartered Institute of Directors (CIoD) Nigeria Women Directors’ Biennial Conference held earlier this week at the National Arts Theatre in Lagos.

According to him, the decision was influenced by the then Commissioner for Commerce and Industry, Olusola Oworu, who argued that attracting the multibillion-dollar investment would generate far greater returns than insisting on the state’s fixed land pricing policy.

He recalled that after the Dangote Group selected Lagos as its preferred location for the refinery, negotiations over the allocation of about 2,000 hectares of land stalled because the company considered the government’s asking price too high.

At the time, Lagos maintained a fixed-rate pricing system for land allocations, prompting debate within the State Executive Council over whether to adjust the price.

Fashola recounted Oworu’s intervention before the council: “Look, Governor, you have 16,000 hectares of land. The Chinese are in 3,000 hectares. We have barely built 200. Thirteen thousand is waiting for investors. You have now found an investor who wants to take 2,000 hectares and build a refinery of $19 billion and you are quibbling over the cost of the land. Offer the land at a discount. Once it comes in, others will follow. And then you can make money from your land.”

Fashola said the argument convinced the council to approve the concession.

“That was a thinking decision. And the whole of council then looked to me and I surrendered,” he said, noting that Oworu’s intervention ultimately changed the course of the deliberations.

Using the episode to underscore his keynote message on leadership, Fashola said effective leadership is defined by competence rather than gender.

“Ineffectiveness is not a gender thing; it is a human thing,” he said, adding that women should be evaluated based on their preparation, capability and impact, not merely on representation.

The conference also featured renewed calls for organisations to move beyond increasing the number of women on corporate boards and focus instead on giving them greater influence over strategic decision-making.

CIoD Nigeria First Vice-President, Amina Oyagbola, observed that although more women now serve on corporate boards and lead public and private institutions, they remain underrepresented in board chair and executive leadership positions where major decisions are made. She called for stronger mentorship and sponsorship programmes to develop more women leaders.

Similarly, CIoD Nigeria President and Chairman of the Governing Council, Otunba Adetunji Oyebanji, said board appointments should be based on competence, integrity and skills rather than traditional leadership pathways that have historically limited women’s access to top positions.

He added that strengthening women’s influence in boardrooms has become increasingly important as organisations navigate economic uncertainty, rapid technological change and evolving stakeholder expectations.

The Dangote Group had initially planned to build the refinery in the Olokola Free Trade Zone, which spans Ogun and Ondo states. However, disagreements with the Ogun State Government under former Governor Ibikunle Amosun led the company to relocate the project to the Lekki Free Zone in Lagos.

The refinery began production on January 12, 2024, with a refining capacity of 650,000 barrels of crude oil per day, making it Africa’s largest refinery and one of the world’s largest single-train refining facilities.

In February 2026, the company announced that the refinery had reached its full designed processing capacity after optimising its crude distillation and petrol production units.

The company is now seeking to raise about $1 billion through a private placement after the refinery was valued at $39.1 billion. According to an Information Memorandum seen by Nairametrics, investor expressions of interest have already exceeded $2 billion.

The Dangote Petroleum Refinery remains one of Nigeria’s largest private-sector investments and continues to expand its operations while pursuing fresh capital to support future growth.

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Forbes human resources council admits Nigerian HR strategist Michael Ugbewanko

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Nigerian management consultant, organizational strategist and leadership expert, Michael Odafe Ugbewanko, has been admitted into the Forbes Human Resources Council, an invitation-only professional body that brings together senior human resources executives, chief people officers, founders and business leaders shaping the future of work globally.

Ugbewanko, who is the Lead Consultant at Dmidaf Global Consult, joins an international network of C-suite executives, vice presidents, directors, founders and business owners recognised for their professional accomplishments and leadership in the human resources profession.

In a welcome message, Forbes Councils Member Success Specialist, Jessica McClendon, said members of the council enjoy access to an exclusive platform designed to expand their professional influence and industry impact.

“Welcome to Forbes Human Resources Council. We’re delighted to have you as part of our vibrant and empowering community. Here, you’ll have the opportunity to share your expertise with the Forbes.com audience, connect with industry-leading peers and access carefully curated benefits that support your personal and professional growth,” the message stated.

The appointment represents another milestone for Ugbewanko, whose work has centred on helping organisations build sustainable, high-performing institutions through strategic leadership, operational excellence and effective human capital management.

Over the past decade, he has advised hundreds of chief executives across more than 1,000 organisations, helping businesses strengthen what he identifies as the three foundations of long-term success—process, structure and people.

Speaking on his admission, Ugbewanko described the recognition as an opportunity to contribute African perspectives to global conversations on leadership, organisational transformation and the future of work.

“The future of business belongs to organisations that intentionally build strong systems and empower people to perform at their highest potential. I am honoured to join a global community of leaders committed to advancing excellence in human resources and organisational leadership while representing the innovation and resilience of African businesses on the global stage,” he said.

Widely regarded as one of Africa’s leading voices on organisational effectiveness, Ugbewanko was named one of the 10 Most Influential HR Leaders in Africa by Entrepreneur Magazine in 2025. He is also the author of HR Is Dead, a book that advocates a more strategic role for human resources in driving business growth and institutional sustainability.

Beyond his consulting practice, he convenes the Operational Excellence Conclave, a leadership forum held ten times each year for chief executives, founders, senior executives and political leaders seeking practical strategies for building resilient organisations. He also leads The Presidential Table, an executive advisory platform limited to 15 chief executives annually and focused on transformational organisational growth.

Academically, Ugbewanko holds a Master’s degree in Human Resource Management from the University of South Wales, United Kingdom, and a Bachelor’s degree in Philosophy from the University of Ibadan. He is a Chartered Management Consultant (FIMC, CMC), a Fellow of Corporate Governance (FCGP), and an Associate Member of the Chartered Institute of Personnel and Development (CIPD), United Kingdom.

His admission into the Forbes Human Resources Council reflects the growing global recognition of African business leaders contributing to discussions on leadership, governance, people strategy and organisational excellence, while strengthening the continent’s voice in shaping the future of work.

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NDLEA seizes 1.63m tramadol pills, uncovers cross-border drug trafficking syndicate

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The National Drug Law Enforcement Agency (NDLEA) has intercepted 1.63 million pills of tramadol (250mg) concealed in specially fabricated compartments of two articulated trucks along the Lagos-Ibadan Expressway, exposing what it described as a transnational drug trafficking syndicate operating across the Togo-Benin-Nigeria corridor.

The agency’s Director of Media and Advocacy, Femi Babafemi, disclosed the development in a statement on Sunday, noting that the latest seizures bring the total quantity of tramadol recovered from the same syndicate to more than 2.18 million pills in three separate operations conducted within one month.

According to the statement, the first trailer was tracked and intercepted on July 2 while heading to Kano.

NDLEA operatives recovered 853,000 pills of tramadol (250mg) hidden in a fabricated compartment beneath the truck’s cargo floor and arrested the 22-year-old driver, Jabir Kabiru.

Two days later, on July 4, intelligence-led operations led to the interception of another trailer, also travelling to Kano on the same highway.

The agency recovered an additional 777,000 pills of tramadol (250mg) concealed in a similar hidden compartment and arrested the driver, Muhammed Nuhu, also aged 22.

Investigations, according to the NDLEA, revealed that the trucks intercepted on June 21, July 2 and July 4, together with their illicit consignments, were all linked to the same international drug trafficking network.

In a separate operation, NDLEA operatives intercepted 4.70 kilograms of Canadian Loud, a synthetic strain of cannabis, at the import shed of the Murtala Muhammed International Airport (MMIA), Lagos.

The consignments, concealed inside cartons marked “Odugwu,” arrived from Canada on British Airways and Ethiopian Airlines flights on June 24 and July 3, respectively.

The agency arrested two cargo agents, Ali Rotimi Samson and Orimolade Oluwagbenga, in connection with the shipments before apprehending Edeh Onyeamachi Stanislaus, who attempted to collect the consignments from a logistics company.

Further investigations led to the arrest of the alleged owner of the drugs, Chioma Nneka Mokeme, a 44-year-old businesswoman, on July 7 in Surulere, Lagos, with support from the Nigeria Police Force’s Area C Command.

The agency also arrested Hajara Abdullahi, a 38-year-old Chadian national, and her Nigerian associate, Abdulkareem Jidda, 44, in Apapa, Lagos.

Their arrest followed the interception of 50,000 pills of tramadol (225mg) in Kogi State on July 12, with investigations linking the consignment to the two suspects.

NDLEA also recorded several other seizures during the period.

In Rivers State, operatives arrested 80-year-old Chika Ugwoji in Ahoada on July 14 after recovering 800 grams of skunk from him.

In Edo State, a couple, Christian Chukwuka, 32, and Nwanneka Christian, 33, were arrested during a raid on a drug warehouse along Sapele Road, Benin City.

The operation led to the seizure of 219.5 kilograms of cannabis sativa and 192.67 kilograms of compressed Canadian Loud.

The NDLEA said the operations underscore its sustained crackdown on organised drug trafficking networks and cross-border narcotics syndicates operating within and outside Nigeria.

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Tinubu’s 27-year dream gets name as fed govt renames coastal highway

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The Federal Government has renamed the Lagos-Calabar Coastal Highway as the President Bola Ahmed Tinubu Coastal Highway, following the completion of Section One of the flagship infrastructure project.

Minister of Works David Umahi announced the decision during a media briefing on Thursday at the ministry’s headquarters in Abuja, describing it as a recognition of President Bola Tinubu’s long-held vision for the 750-kilometre coastal corridor.

According to Umahi, the decision was reached in consultation with the ministry’s leadership, including the Permanent Secretary, Minister of State, directors and other senior officials.

“That coastal highway is named the President Bola Ahmed Tinubu Coastal Highway. By the powers conferred on me as Minister of Works, in consultation with my Permanent Secretary, the Minister of State, directors and staff of the ministry, we decided to name it after him because of his dream for it,” Umahi said.

He noted that Tinubu first conceived the idea nearly three decades ago while serving as Governor of Lagos State.

“It is one thing to dream and another thing to have the grace to actualise that dream. This is one man who dreams and has the grace and divine mandate to actualise that dream,” he added.

Umahi disclosed that the first section of the highway, stretching 47.47 kilometres from Victoria Island to Lekki, is a six-lane carriageway with a 25-metre-wide median reserved for a future railway line.

The minister also announced that President Tinubu had approved a 400-kilometre extension of the Fourth Legacy Highway, increasing its total length from about 700 kilometres to 1,100 kilometres.

The expanded route will run from Akwanga in Nasarawa State through Jos, Bauchi, Gombe and Biu to Maiduguri, with an additional extension into Taraba State.

He further disclosed that the President had approved the dualisation of another 400 kilometres of the East-West Road, the reconstruction of sections of the Lagos-Ibadan Expressway using reinforced concrete pavement technology, the completion of the abandoned Ibi Bridge in Taraba State and the construction of the 5.76-kilometre Lao Bridge.

According to Umahi, the projects are designed to improve transport connectivity, boost economic activities and modernise Nigeria’s road infrastructure.

He described the approvals as part of the Tinubu administration’s broader commitment to delivering strategic infrastructure that supports national economic growth and regional integration.

The Lagos-Calabar Coastal Highway is one of the Federal Government’s flagship road projects, intended to improve connectivity along Nigeria’s southern coastline while promoting trade, tourism and investment.

In April 2024, Umahi disclosed that the project would be completed over eight years, with delivery in phases throughout President Tinubu’s tenure.

The first phase, covering approximately 47.7 kilometres from Ahmadu Bello Way to the Lekki Deep Sea Port in Lagos State, is expected to be completed within 36 months.

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