Aliko Dangote, has expressed confidence of his company meeting estimated revenue growth in the next four years.

He said detailed internal modelling had reinforced management’s confidence that the Group’s target of generating US$100 billion in annual revenue by 2030 was achievable.

Dangote said this when Senior executives from leading global investment banking and financial services firm Goldman Sachs toured the company’s integrated petroleum refinery, petrochemicals and fertiliser complex in Lagos.

The delegation, led by Co-Chief Executive Officer of Goldman Sachs International and Global Co-Head of Investment Banking, Anthony Gutman, visited the Dangote Petroleum Refinery & Petrochemicals, Dangote Fertiliser Limited and supporting infrastructure during a recent visit to Nigeria.

He noted that the projections were based on conservative assumptions and had strengthened the company’s conviction that it could pursue an even more ambitious long term growth strategy.

He added that the level of employee participation in the recent private placement of the Dangote Petroleum Refinery reflected strong internal belief in the company’s growth strategy and prospects.

Dangote said the refinery and associated industrial facilities demonstrate the transformative potential of long-term investment in Africa, adding that the Group’s growth ambitions extend well beyond its current strategic plan.

“No matter how we try to explain what we have built, you cannot fully appreciate it until you see it. But this is only the beginning. We need to look beyond 2030. The next phase of our journey will include new investments and acquisitions as we continue to scale the business,” he said.

Speaking after an extensive tour of the 700,000 barrels per day refinery, the Goldman Sachs executives remarked, “It is extraordinary what Mr Dangote and the whole organisation have achieved. The ambition, the scale of the project, the quality of the project and the culture of the people is very impressive.”

The Goldman Sachs team included Adib N. Zouein, Co Head of EMEA Emerging Markets Regional Sales and Head of the Middle East and North Africa region for Global Banking & Markets Public; Ryad Yousuf, Global Head of FICC Sales Strats and Structuring; and Jimi Adesanya, Head of Sub-Saharan Africa Sales (excluding South Africa). They were received by President and Chief Executive of Dangote Industries Limited, Aliko Dangote; Group Vice President, Oil & Gas, Devakumar Edwin; Managing Director and Chief Executive Officer of Dangote Petroleum Refinery & Petrochemicals, David Bird; Group Executive Director, Oil & Gas, Fatima Aliko Dangote; Chief of Staff to the President/CE, Ibrahim Dikko; Group Chief Branding and Communication Officer, Anthony Chiejina; Group Chief Economist, Dr Hassan Mahmud; and Group Chief Strategy Officer, Aliyu Suleiman; Head of Administration, Dangote Petroleum Refinery & Petrochemicals, Musa Bala, among others.

Guinness Nigeria has started rewarding consumers under its nationwide ‘Open For More’ National Consumer Promotion (NCP), with an impressive ₦17 million in rewards to 107 winners during the campaign’s first live draw held on July 31, 2026.

The inaugural draw instantly transformed the fortunes of consumers across the country, producing seven new millionaires, who each received ₦1 million, alongside 100 additional winners, who each walked away with ₦100,000. The milestone marks the beginning of a series of weekly live draws that will see hundreds more Nigerians rewarded throughout the promotion.

The seven ₦1 million winners are Marcus Barieepie, Ani Valentine Ogochukwu, Okafor Sochima, Taiwo Adebola, Zubair Rukayat, Oluwatobi Femi, and Ebubechukwu Okolo.

The live draw was conducted under the supervision of the Federal Competition and Consumer Protection Commission (FCCPC) to ensure transparency and fairness. Representatives of the commission present included Dr. Olubunmi Otti, Zonal Coordinator, FCCPC Southwest, and Mrs. Abosede Ogundeji, Surveillance and Investigation Officer.

Speaking during the draw, Ramanathan S, representing Guinness, said the promotion reflects the brand’s enduring commitment to celebrating and rewarding the consumers who have supported Guinness over the years.

“For decades, Nigerians have made Guinness a part of their milestones and celebrations. Today, we are proud to give back by putting ₦17 million directly into the hands of 107 consumers in our very first draw. This is only the beginning. Over the coming weeks, many more Nigerians will experience life-changing rewards as we continue to celebrate the loyalty of the people who have made Guinness part of their stories.”

He added that all weekly draws will continue to be streamed live across Guinness Nigeria’s official platforms, enabling consumers to witness the winner-selection process in real time and reinforcing the transparency and credibility of the promotion. He also encouraged eligible consumers nationwide to participate, noting that every valid entry presents another opportunity to win.

The ‘Open For More’ National Consumer Promotion offers consumers the chance to win ₦1 million every day, ₦100,000 cash prizes for 1,000 winners, and a Toyota Land Cruiser Prado as the grand prize. Altogether, the promotion will reward consumers with more than ₦400 million in cash and prizes.

To participate, consumers simply need to purchase specially marked bottles of Guinness Foreign Extra Stout or Guinness Smooth, locate the unique code beneath the crown cork or can lid, and enter the code via the designated campaign platform.

With ₦17 million already won in its opening draw, the campaign is off to a remarkable start, reinforcing Guinness Nigeria’s commitment to rewarding consumer loyalty through transparent processes and unforgettable experiences that go beyond the product. Consumers are encouraged to look out for specially marked promotional packs and follow Guinness Nigeria’s official communication channels for updates, winner announcements, and details of upcoming draws.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has said it will enter into negotiations with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC),to resolve teething issues related crude oil supply shortages to local refineries.

The NMDPRA, says enhanced crude supply to local refineries has become important as Nigeria now boosts of about 1.125 million barrels a day (bpd) of installed refining capacity, led by Dangote’s 700,000-bpd refinery, which has helped Nigeria become a net exporter of refined products.

The Agency hinted of Governments intention to refine all of its crude domestically, as the country targets production of 3 million barrels a day in the coming years.

Nigeria still faces major structural constraints, including crude supply shortages, underperforming state-owned refineries and concerns over excessive dependence on Dangote.

The Director General (DG) of the Authority Rabiu Umar, who dropped the hint in Lagos at the 49th annual conference of the Society of Petroleum Engineers (SPE) Nigeria Council, explained that that the federal government wants to end the pattern where much of its produced crude are exported and refined products on the other hand imported.

“Every molecule of our three million barrels per day that we hope to achieve in the coming years will be refined locally,” Umar said.

To achieve that goal, the NMDPRA is working with the NUPRC to enforce domestic crude supply obligations. Nigerian petroleum law requires producers to supply part of their crude output to domestic refineries.

Umar called the requirement “really, really important” for supporting the expansion of Nigeria’s refining industry.

Nigeria now has 1.125 million barrels per day of installed refining capacity, according to the NMDPRA. The country reached that level for the first time in its history. Dangote Refinery provides the bulk of that capacity. The facility reached its 700,000-bpd nameplate capacity during tests in June.

The refinery has also helped Nigeria become a net exporter of refined petroleum products. Dangote supplies 80% of domestic demand while exporting products to West Africa and Europe, Nigeria Housing Market reported in May.

The Agency’s 3 million-bpd production target represents almost twice Nigeria’s current output.

The NUPRC estimated June production at about 1.73 million bpd. Nigeria must therefore first almost double crude production before it can refine all of its output domestically. That expansion will require several years of investment.

However, refineries operated by the Nigerian National Petroleum Company Limited (NNPCL) in Port Harcourt, Warri and Kaduna are operating below capacity.

The NNPCL acknowledged in November 2025 that the facilities cannot match Dangote’s fuel quality.

Dangote refinery is also planning expansion to 1.4 million bpd. However, concerns remain over the risks that a single dominant refiner could pose to the country’s fuel supply, as Agence Ecofin reported in May.

State-owned refineries remain part of the strategy. Their combined potential capacity exceeds 300,000 bpd. Yet the facilities have failed to reach their full potential despite more than $25 billion in public investment between 2003 and 2023.

The NNPC Ltd is now seeking private partners that will receive payment only when the refineries actually produce.

The approach contrasts with the previous model, which paid companies to rehabilitate the facilities regardless of their operating performance

Nigeria’s flagship refinery accounts for one fifth of Europe’s jet fuel imports, reinforcing its position as a major force in global aviation fuel trade

Dangote Petroleum Refinery & Petrochemicals has strengthened its position as a global supplier of premium aviation fuel after emerging as Europe’srgest jet fuel supplier for the second consecutive month, overtaking the United States and underscoring the refinery’s growing influence on international energy markets.

Latest European import data compiled by global commodities intelligence firm Kpler show that more than 400,000 tonnes of jet fuel produced by the 700,000 barrels per day Dangote Petroleum Refinery were delivered into Europe in July, accounting for approximately 20 per cent of the continent’s total jet fuel imports during the month. The performance follows a record 466,000 tonnes exported to Europe in June, when Nigeria first displaced the United States as the region’s leading supplier of imported jet fuel.

The sustained export performance marks a significant milestone for the refinery, demonstrating its ability to consistently supply one of the world’s most demanding fuel markets with aviation fuel that meets stringent international quality specifications. Europe imported approximately 2.06 million tonnes of jet fuel in July, with Dangote accounting for the single largest share of those imports, ahead of traditional suppliers from the United States and the Middle East.

Industry observers say the refinery is rapidly reshaping established Atlantic Basin fuel trade flows by offering a competitive alternative to long standing suppliers. While European buyers have traditionally relied on refiners in the United States, the Middle East and Asia, Dangote’s strategic location on Nigeria’s Atlantic coast, combined with its scale, modern technology and export capability, has enabled it to become an increasingly important source of aviation fuel for European markets.

The refinery’s export momentum has been supported by steadily rising production. Jet fuel loadings at Dangote’s Lekki export terminal reached a record 550,000 tonnes in June, while crude deliveries to the refinery climbed to an all time high of 660,000 barrels per day, providing the throughput required to sustain growing exports of refined petroleum products to international markets.

The latest figures come at a time of shifting global energy flows. Although Europe received limited volumes of jet fuel from Kuwait, the United Arab Emirates and Oman in July, market disruptions around the Strait of Hormuz and evolving geopolitical dynamics have encouraged buyers to diversify supply sources. Against this backdrop, Dangote Refinery has emerged as a reliable and competitive supplier, reinforcing Nigeria’s growing importance in global refined products trade.

“Beyond aviation fuel, the refinery has continued to expand exports of diesel, gasoline and other refined petroleum products to destinations across Europe, Africa and other international markets, further strengthening Nigeria’s position as a net exporter of high value petroleum products,” noted David Bird, MD/CEO, Dangote Petroleum Refinery & Petrochemicals