Business

Fed Govt replies Meta on shutdown threat

The Federal Government, through the Federal Competition and Consumer Protection Commission, FCCPC, says the threat by WhatsApp to exit Nigeria due to the Commission’s recent order will not exonerate the company from the outcome of a judicial process.

In a statement by its Director, Corporate Affairs, Ondaje Ijagwu on Saturday in Abuja, FCCPC said the Meta Parties should take steps to comply with Nigeria’s law.

Ijagwu said the threat was a calculated move aimed at inducing negative public reaction and potentially pressuring the FCCPC to reconsider its decision.

According to him, the recent affirmation of FCCPC’s final order by the Competition and Consumer Protection Tribunal required Meta Parties to stop exploiting Nigerian consumers, and change their practices to meet Nigerian standards consistent with international best practices.

DAILY POST recalls that Ijagwu said the Competition and Consumer Protection Tribunal had awarded 220 million dollars against Meta Platforms Incorporated and WhatsApp LLC as an administrative penalty for the violations.

Meta had threatened to shut down its Facebook and Instagram services in Nigeria in protest of the large fines imposed by multiple government agencies.

It will also be recalled that the tribunal further awarded 35,000 dollars to the FCCPC as cost of investigation.

”The FCCPC investigated Meta Platforms and WhatsApp (jointly referred to as “Meta Parties”) for allegedly violating the Federal Competition and Consumer Protection Act, FCCPA, and the Nigeria Data Protection Regulation, NDPR.

”The Commission found that Meta Parties engaged in multiple and repeated infringements of the FCCPA (2018) and the NDPR.

”These infringements include denying Nigerians the right to control their personal data, transferring and sharing Nigerian user data without authorisation.

”Others are discriminating against Nigerian users compared to users in other jurisdictions and abusing their dominant market position by forcing unfair privacy policies,” he said.

According to Ijagwu, Meta had been fined for similar breaches in Texas (1.5 billion dollars ) and only recently was asked to pay 1.3 billion dollars for violating European Union, EU, Data Privacy Rules.

He reiterated that Meta had faced penalties in India, South Korea, France and Australia for similar breaches.

The Commission’s director further stated that Meta never resorted to the blackmail of threatening to exit those countries rather, they obeyed.

He expressed the Commission’s commitment in its pursuit of consumer protection and data privacy toward ensuring a fairer digital market in the country.

Business

Dangote Refinery to expand capacity to 1.4m barrels daily

Africa’s largest refinery, the Dangote Petroleum Refinery, is set for a historic expansion that will increase its production capacity from 650,000 barrels per day (BPD) to 1.4 million BPD within the next three years.

When completed, the expansion will make the refinery the largest in the world, marking a major leap toward energy independence for Nigeria and Africa.

The President and Chief Executive of Dangote Industries Ltd., Alhaji Aliko Dangote, announced the plan on Sunday in Lagos.

According to him, the step reflects faith in Nigeria’s potential.

“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 noted.

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 have spurred industrial growth and strengthened investor confidence.

Dangote said the expansion would meet rising regional demand, cut dependence on fuel imports, save billions in foreign exchange, and boost Nigeria’s energy security.

He 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 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 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. (NAN)

Business

Nigerian petrol marketers to dump Dangote Refinery for cheaper imported fuel

Nigerian petroleum product marketers have announced plans to abandon Dangote Refinery’s petrol in favour of cheaper imported fuel.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Chinedu Ukadike, disclosed this to DAILY POST on Friday.

This follows the drop in the landing cost of imported fuel to N839.97 per litre, which is N37 cheaper than Dangote Refinery’s gantry petrol price of N877 per litre.

Commenting on the development, Ukadike hinted that petroleum marketers would opt for imported fuel to enable Nigerians to access cheaper petrol.

He noted that the price disparity was a result of the liberalisation and deregulation of the country’s downstream sector.

“It is due to the liberalisation of the sector, which has set the tune for a price war. Marketers now have the option to buy either at N877 per litre with Dangote Refinery or N839 with MEMAN.
“The concern here is why would a local refinery (Dangote) sell petrol higher than imported ones?
“As petroleum product marketers, Nigerians are interested in buying petrol that is cheaper. When we have cheaper fuel, it sells faster,”

The ongoing price war among operators in the sector may lead to a reduction in the current retail price in the coming days.

It will be recalled that recent data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, showed that Nigerians consumed 613.6 million litres of petrol between 2024 and October 10, 2025.

Earlier, marketers had complained about the non-supply of petrol by Dangote Refinery despite having paid billions to the 650,000-barrel-per-day facility.

An earlier report also indicated that Dangote Refinery has been experiencing a supply setback, resulting in a nationwide petrol shortage.

Business

Fuel landing cost drops, now cheaper than Dangote Refinery’s petrol price

The landing cost of imported petrol has dropped to N839.97 per litre as of October 21, 2025, cheaper than Dangote Refinery’s fuel, which sells for N877 per litre.

This is according to the latest energy prices bulletin released by the Major Energy Marketers Association of Nigeria.

The new price is a decrease from N841.54 recorded on October 20th, 2025.

The spokesperson of the Independent Petroleum Marketers Association, Chinedu Ukadike, confirmed the latest development in the pricing of petrol to DAILY POST on Friday.

According to him, the development is due to price competitiveness – typical of a deregulated downstream sector.

He noted that marketers will opt for cheaper petrol products so as to sell at affordable prices to Nigerians.

The development may lead to a drop in the retail price of petrol nationwide.

Checks revealed that the latest ex-depot prices of Emedab, Gulf Treasure, Ardova and Bono stood at N875 per litre, while the of Dangote Refinery is N877.

Meanwhile, as of the time of filing this report, NNPC, MRS, Ranoil, Total and Emedab retail outlets in Abuja dispense petrol between N950 and N965 per litre.