Business
Dangote Bows Out as Chairman of Dangote Sugar Refinery

Africa’s richest man, Aliko Dangote, is set to retire as Chairman of the Board of Directors of Dangote Sugar Refinery Plc, effective June 16, 2025.
Dangote’s exit marks the end of over two decades of leadership, having founded the company in 2005.
Under his stewardship, Dangote Sugar Refinery has emerged as a key player in Nigeria’s food sector.
Dangote’s legacy at the helm of the company is notable for expansive projects and strategic investments.
Recently, the company opened a new sugar refinery in Ghana’s Kwame-Danso, Bono East Region, signaling a major milestone in its West African expansion.
The factory boasts a capacity to crush 12,000 tons of sugarcane daily across 25,000 hectares of irrigated crops.
In Nigeria, Dangote Sugar Refinery has recorded impressive financial gains, with revenue surging 74.3% year-on-year to N213.9 billion ($133 million).
The company’s net losses also narrowed significantly to N23.6 billion from N122.7 billion in the previous year.
Arnold Ekpe, a seasoned banker and industrialist, will succeed Dangote as Chairman.
Ekpe brings extensive experience, having served as Group CEO of Ecobank and held leadership roles in various African banks and enterprises.
The transition marks a new chapter for the Dangote Group, as Ekpe takes the reins of Dangote Sugar Refinery.
Industry stakeholders are eager to see how the company will continue to thrive under new leadership.
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Business
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Analysis
Dangote vs PENGASSAN: When Labour Rights Collide with National Dreams

Dangote vs PENGASSAN: When Labour Rights Collide with National Dreams
By Alabidun Shuaib AbdulRahman
The simmering conflict between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Dangote Refinery is not just another workplace quarrel. It is a test case for how Nigeria intends to balance labour rights with its desperate need for industrial transformation. The refinery, a 650,000 barrels-per-day behemoth hailed as Africa’s largest, is meant to save Nigeria from the chokehold of fuel importation. But now, just as its promise begins to unfold, it is caught in the turbulence of labour agitation.
At the core of the dispute is PENGASSAN’s demand for recognition and collective bargaining rights for its members within the refinery. Reports suggest that Dangote Industries Limited has been reluctant to fully embrace union representation, raising questions about compliance with Nigeria’s labour laws and international conventions that guarantee workers the freedom of association. For PENGASSAN, which has long stood as a formidable force in Nigeria’s oil and gas sector, this is not simply about one employer. It is about setting a precedent in a sector that could define Nigeria’s industrial future.
Although globally, these issues are common in large refinery operations. India’s Paradip Refinery experienced a massive strike in 2021 involving over 10,000 workers demanding better conditions. Brazil’s Petrobras has repeatedly faced union pushback, including a 2015 strike that cut production by 20 percent. In South Africa, chemical and refinery workers have staged strikes that paralysed supply until wage agreements were reached. The lesson is clear: mega refineries and mega unions often collide, and resolution depends on structured dialogue rather than confrontation.
Nigeria’s own history mirrors this global trend. Chevron, Shell, and other multinationals have clashed with PENGASSAN and NUPENG over welfare, pensions, and layoffs. In many cases, government intervention has served as the dealbreaker, with the Ministry of Labour stepping in to mediate. The Dangote Refinery dispute, however, is unique because of its dual nature — a privately owned enterprise with public ownership through NNPCL’s 20 percent stake. This means that the Nigerian state cannot sit idle while the project wobbles under labour unrest.
The facts speak loudly. According to the National Bureau of Statistics, industrial disputes cost Nigeria over N1.3 trillion between 2016 and 2021, with oil and gas taking the lion’s share. Global data from the International Trade Union Confederation further show that countries with robust collective bargaining systems — like Sweden and Denmark — record fewer strike days and higher productivity. Nigeria, with its fragile economy, can ill-afford prolonged shutdowns at the refinery that has been billed as the silver bullet for its foreign exchange crisis.
The International Labour Organization (ILO) conventions 87 and 98, both ratified by Nigeria, enshrine workers’ rights to organise and bargain collectively. If Dangote Industries ignores these obligations, it risks international criticism, reputational damage, and domestic instability. Yet, PENGASSAN also has a responsibility to frame its demands within the context of national economic realities. Striking a balance between workers’ rights and the refinery’s survival is the only path forward.
This is where lessons from global practice become crucial. In Germany, labour disputes in refineries are addressed through codetermination, where unions sit on company boards, ensuring dialogue before crisis. In Brazil and India, strikes often end with phased agreements that allow employers time to adjust while workers secure incremental gains. Nigeria must look in this direction, creating a structured negotiation platform that protects workers without crippling the refinery.
For Dangote, recognising PENGASSAN is not capitulation; it is an investment in industrial peace. For PENGASSAN, pressing its case should not come across as a political siege but as a constructive effort to align the refinery with global best practices. And for government, silence is not an option. With NNPCL as a shareholder, Abuja must assume its statutory role in preventing a strike that could cripple the very project marketed as Nigeria’s energy salvation.
The bigger picture cannot be ignored. The refinery was sold to Nigerians as a symbol of hope, a project that would slash fuel import bills, stabilise forex, and create jobs. But if its foundation is marred by labour unrest, it risks becoming another symbol of Nigeria’s chronic inability to balance growth with fairness. The refinery must not be allowed to mirror the failures of Ajaokuta Steel, where poor labour and policy management condemned a massive project to decades of waste.
The PENGASSAN–Dangote imbroglio is therefore not just about wages or recognition. It is about whether Nigeria can truly run world-class industrial projects without sacrificing the dignity of its workers. It is about whether labour rights and national dreams can co-exist. The choice before both sides is stark: confrontation that could stall progress, or dialogue that could set a benchmark for labour relations in Africa’s largest refinery.
History offers a blunt truth: great refineries around the world have all faced labour disputes. What distinguishes successful ones is not the absence of conflict but the maturity of resolution. Nigeria has a chance to show such maturity now. If PENGASSAN and Dangote sit across the table and forge an agreement, they will not only save a refinery but also script a new chapter in Nigeria’s industrial history. If they do not, the dream of energy independence could collapse under the weight of industrial disharmony.
In the end, the refinery must not only refine crude oil; it must also refine Nigeria’s labour practices. That is the true test of national transformation.
Business
NNPC Targets $60bn Investment as It Expands Upstream Oil, Gas Projects

NNPC Targets $60bn Investment as It Expands Upstream Oil, Gas Projects
Nigeria’s national oil company, NNPC Ltd., is ramping up efforts to boost upstream oil and gas production through new production-sharing contracts, crude supply agreements and regional gas infrastructure projects.
The company, in a statement, said it is targeting $60 billion in fresh upstream investments by 2030 to strengthen exploration, production, and long-term energy security.
Central to the drive is the recently signed Production Sharing Contract (PSC) for Petroleum Prospecting Licences (PPLs) 2000 and 2001 with the TotalEnergies-Sapetro consortium.
The deal, which comprehensively covers both crude oil and natural gas, is the first of its kind under the Petroleum Industry Act.
NNPC said the agreement would unlock new reserves, attract deepwater capital, and reinforce Nigeria’s energy supply outlook.
To stabilise domestic refining, the company has also committed over 112 million barrels of crude oil to the Dangote Refinery between December 2023 and September 2025 under a crude-for-Naira initiative.
The arrangement is designed to guarantee steady feedstock for the 650,000 bpd refinery while sustaining upstream output.
On the gas front, NNPC disclosed that work is progressing on the Nigeria-Morocco Gas Pipeline, also referred to as the African Atlantic Gas Pipeline (AAGP).
The project aims to connect Nigeria’s vast gas reserves to markets in West Africa, Morocco and Europe, creating new export opportunities while supporting regional energy integration.
NNPC noted that its investment target will be driven by deepwater exploration, seismic studies, refinery upgrades and gas infrastructure expansion to balance local demand with export growth.
Commenting on the strategy, Executive Chairman of the African Energy Chamber, NJ Ayuk, said NNPC’s moves reflect a clear pivot towards transparency, upstream growth, and energy security.
“By advancing upstream development, expanding gas infrastructure, and strengthening domestic refining, NNPC is positioning Nigeria as a cornerstone of Africa’s energy future,” Ayuk stated.