Francesca Odimgbe Dr. Kadri Obafemi Hamzat, the Governorship candidate of the All Progressives Congress (APC) on Tuesday announced a development framework tagged PROMISE built around measurable targets and public accountability, with commitments spanning infrastructure, healthcare, education, security, job creation and affordable housing. Hamzat, who is also the Deputy Governor, of the State disclosed this during a session organized to discuss the facts and figures of Lagos State. The occasion is the 8th Largest Economy in Africa, organized by the Lagos Chambers of Commerce and Industry (LCCI), in Lagos. During the session Hamzat described the agenda as a “Social Contract” with Lagos…
Author: Orientalnews Staff
Francesca Odimgbe Government of Lagos State is taking steps to deal with traffic congestion along the Lekki-Epe Expressway by commencing rehabilitation works on the final stretch of the damaged sections along the corridor. This Special Adviser to the Governor on Infrastructure Engineer Olufemi Daramola, made the disclosure during a stakeholder’s engagement to mark the commencement of works on the rehabilitation of the damaged sections from Bonny Camp to Admiralty Way Junction and VGC Sections in Eti-Osa Local government area. Daramola said the commencement of the rehabilitation of the section, further attests to Governor Sanwo-Olu’s resolve to mitigate the…
Nigeria’s Dangote refinery has gone from losing money to posting a $4.73 billion profit in less than a year, just as it asks investors for $1.6 billion in what would be Africa’s largest IPO. Dangote Petroleum Refinery reported net profit of $4.73 billion for the first nine months of 2026, reversing a $117.2 million loss during the same period last year. Revenue more than doubled to $22.48 billion from $9.19 billion. EBITDA jumped to $5.52 billion from $627.6 million as the refinery processed more crude and captured higher refining margins. The Iran war helped. Disruptions to Middle Eastern refining and…
Yemisi Izuora Dangote Petroleum Refinery and Petrochemicals has recorded a remarkable turnaround in its financial performance, posting $22.5 billion in revenue and $4.7 billion in net profit for the nine months ended September 30, 2026, compared with a loss of $117.2 million in the corresponding period of 2025, as the African industrial giant consolidates its transition into a major profit-generating industrial enterprise. The unaudited financial results, released in Lagos on Tuesday, reveal that revenue surged by 144 per cent from $9.2 billion in the first nine months of 2025, while earnings before interest, taxes, depreciation and amortisation (EBITDA)…
Uche Cecil Izuora Sahara Energy Geneva has highlighted the power of business collaboration to deliver lasting impact, with Mercy Ships Cargo Day celebrating more than $20 million raised over the past decade to support healthcare interventions in Africa. More than 500 guests from over 150 shipping and trading companies gathered in Geneva recently for the 10th anniversary Gala of Mercy Ships Cargo Day, celebrating a decade of industry support for the international charity. David Walker, Head of Chartering at Sahara Energy Geneva and Chairman of the Cargo Day Geneva Committee, joined industry leaders at the event,…
Yemisi Izuora The Center for the Promotion of Private Enterprise (CPPE) has advised that the temporary petrol price adjustment by Government should be broadened as its limited coverage means that its aggregate impact on household welfare will also be limited. The Center said that Government should therefore pursue broader interventions that address the principal channels through which the energy price shock affects citizens. The Chief Executive Officer, of the CPPE, Muda Yusuf (PhD) in a position note on the policy, said Government should first scale up affordable mass transit as transportation remains one of the most immediate transmission channels of…
Yemisi Izuora Seplat Energy has strengthened its commitment to climate action and environmental sustainability through its Tree4Life Programme, which recently achieved a major milestone with the planting of 200,000 trees, reinforcing the company’s ambition to establish one million trees by 2030. The Tree4Life Programme is a flagship reforestation and biodiversity conservation initiative that combines environmental restoration with community development. According to Seplat Energy’s 2025 Social Performance Report, the programme has established nurseries containing more than 175,000 seedlings and has trained more than 300 community members in tree planting, nursery management and sustainable land-use practices. Beyond its environmental objectives, the…
Uche Cecil Izuora Mary-Brenda Akoda, winner of 2026 The Nigeria Prize for Science and Innovation (NPSI), today presented her award-winning innovation, GenScanAI, an artificial intelligence-powered medical imaging solution, at Vibranium Valley, Ikeja, Lagos, highlighting its potential to reduce magnetic resonance imaging (MRI) scan times by up to 90 per cent, improve image quality and enhance healthcare delivery without requiring new MRI hardware. The public presentation brought together medical practitioners, healthcare professionals, researchers, academics, students and technology stakeholders to explore the science behind GenScanAI, its potential applications and its contribution to addressing challenges in medical imaging and diagnostic services. GenScanAI…
…Says 401 Million Africans To Gain Electricity Access By 2030 Uche Cecil Izuora The International Renewable Energy Agency (IRENA), has named Nigeria as one of the world’s largest electricity access deficits by population. The Agency said efforts are underway to provide millions of Africans with affordable electricity. According to IRENA, about 401 million people in Africa could gain access to more affordable electricity through mini-grids and standalone solar systems by 2030. The estimate comes from the agency’s World Energy Transitions Outlook 2026 report, published in October 2026. IRENA estimates that these systems would provide 60 per cent of the new…
By Sola Adebawo Nigeria’s refining debate has turned to a more fundamental question: can the country reliably supply the crude its refineries need, and on what terms? On 9 October, Finance Minister Taiwo Oyedele said Nigeria did not have enough freely available crude to meet the Dangote refinery’s full requirement of 700,000 barrels per day. His point was that national production is not the same as crude the government can freely allocate. Joint-venture and production-sharing entitlements, production costs and royalties all affect the volume available to the state. That distinction matters. Oyedele was not saying Nigerian crude was unavailable…