Headline

Good Night Great Banker, Herbert Wigwe, Family and Friend

Published

6 months ago

February 11, 2024

Eric

By Eric Elezuo

The death on Friday, February 9, 2024, of the Group Chief Executive Officer, Access Holdings Plc, Dr. Herbert Wigwe, has brought much more than tears to the eyes of a crowd of Nigerians. The reason is obvious; Wigwe is among a few Nigerians, who have used their wealth to affect the lives of the ordinary citizens as well as celebrities and high profile people.

It is more saddening that he died on the day the Access sponsored Lagos Marathon was underway in the city of Lagos.

Wigwe, in company of his son, Chizi, his wife, Doreen and Abimbola Ogunbanjo, a former chairman of Nigerian Exchange Group, died after the helicopter they were traveling in, crashed between California and Nevada, in the United States of America. It was revealed that the fun loving family was traveling to Las Vegas to watch the Super Bowl billed for Sunday evening.

While the world ruminated over the plausibility or otherwise of the news of Wigwe’s death, his company, Access Holdings Plc, put all doubts to rest, confirming the death in the Eurocopter EC130 helicopter around 10pm on Friday in California; 7am on Saturday in Nigeria, near the Nevada border.

In a statement issued on Sunday, Access Holdings said Wigwe “brought his remarkable passion, energy, and experience” to transform the company.

“Dr. Wigwe died alongside his wife and son on Friday, February 9, 2024 in a helicopter accident in the United States of America,” Access Holdings said.

“The entire Access Family mourns the loss of Herbert, Doreen and Chizi. We extend our deep and sincere sympathies to his family and loved ones. Dr. Wigwe was a key driving force and a larger-than-life personality who brought his remarkable passion, energy, and experience to the transformation of the Access franchise since joining the Bank in 2002.”

Abubakar Jimoh, chairman of Access Holdings, like majority of Nigerians, said Wigwe’s death was a major loss, adding that the Access family owed him a debt of gratitude.

“The Access Family has suffered a major loss with the passing of Dr. Wigwe who was a great friend and fine gentleman,” Jimoh said.

“He had a prodigious intellect, admirable personal qualities, and vast business experience which he brought to bear on the Access Family and for which we owe him a debt of gratitude.”

The statement was issued hours after Access Bank, a subsidiary of Access Holdings, said it lacked detailed information concerning the helicopter crash.

Access Bank had said it was actively collaborating with the US authorities for updates on the situation.

Meanwhile, the US National Transportation Safety Board (NTSB) has said preliminary investigation into the crash pointed to rainy and wintry weather as possible causes.

The ill-fated Flight N130CZ, operated by Orbic Air LLC, took off from Palm Springs, California, at 8:45 p.m. but was last seen near Fort Irwin/Barstow, California, at 9:49 p.m., Friday before it was reported crashed at 10:12pm.

Wigwe, only a few weeks ago, supervised the burial of the Access Bank Group Head, Media and Corporate Affairs, Abdul Imoyo, who died in December.

THE MAN, HERBERT WIGWE

Herbert Onyewumbu Wigwe, who was born on August 15, 1966, in Lagos, hailed from Omueke Isiokpo in Ikwerre LGA of Rivers State, Nigeria.

Wigwe earned a Bachelor’s degree in Accountancy from the University of Nigeria, Nsukka in 1987.

In 1990, he received the British Council Scholarship to study at the University College of North Wales (now Bangor), earning a Master of Arts in Banking and Finance in 1991. He later earned a MSc in Financial Economics from the University of London in 1996. He was an alumnus of the Harvard Business School Executive Management Programme, and in 2018, he received an honorary doctorate from the University of Nigeria, Nsukka.

Wigwe originally started his career at Coopers & Lybrand, from where he later joined Guaranty Trust Bank, where he committed over a decade of his working life.

In 2002, Wigwe and his business partner, Aigboje Aig-Imoukhuede, bought Access Bank, marking the beginning of a transformative journey in the Nigerian banking sector. Between 2002 and 2017, the bank grew to become the 4th largest bank in Nigeria.

Between 2002 and 2014, he served as the company’s Deputy Managing director. Wigwe also served as the chairman of Access Bank Ghana Limited starting in 2013, Access Investment & Securities Limited, and Central Securities and Clearing System.

At the time of his death he was the chairman of Access Bank (UK) Limited. He was a board member of Nigerian Mortgage Refinance Company and a member of the advisory Board for Friends Africa.

He was also a fellow of the Institute of Chartered Accountants of Nigeria, a fellow of The Institute of Credit Administration, and an honorary member of the Chartered Institute of Bankers of Nigeria.

From January 2014 until his death, he was CEO and group managing director of Access Bank.

Wigwe was involved in the creation of a leadership series known as the Access Conference. The biennial event is Access Bank’s response to a global call for corporate involvement in resolving the major challenges facing humanity. Since its inauguration in 2013, the Access Conference has consistently engaged global leaders by provoking debates on issues of threats and opportunities to the world. In the 2013 edition, themed “Sustainable Leadership”, Wigwe spoke alongside George W. Bush, Nicolas Sarkozy and John Kufuor, reaffirming the importance of leadership to national and corporate successes.

At the 2015 edition, Wigwe hosted global leaders such as Steve Wozniak, N. R. Narayana Murthy, José María Figueres, Muhammad Yunus^[12]^[13] to discuss the theme “Leading in a Transformational World – The Imperative of Innovation”.

Wigwe philanthropic gesuures arw larger than life. He had partnered with Access Bank and UNICEF to offer support to vulnerable children, orphans, and internally displaced persons in the northern part of Nigeria. To raise awareness for this purpose, the bank organizes the annual high-profile Access Bank/UNICEF Charity Shield Polo tournament.

In 2016, Wigwe founded The HOW Foundation, a non-profit organization.

In February 2017, he was named co-chair of Nigerian Business Coalition against AIDS, a private sector initiative to help eradicate HIV/AIDS in Nigeria and support people living with the condition.

A few months before his death, he announced that Wigwe University would open in fall 2024.

Wigwe was named 2016 Banker of The Year by The Sun and Vanguard, two of Nigeria’s largest newspapers.

In recognition of “his exemplary role in the society and contributions to youth development”, the Boys’ Brigade inaugurated Herbert Wigwe as State Patron for Lagos State Council in 2016.

In October 2022, Commander of the Order of the Niger, a Nigerian national honour, was conferred on him by President Muhammadu Buhari.

Wigwe was not only a prominent figure in the financial industry but also a philanthropist with a deep commitment to community development. He founded Wigwe University, a world-class institution aimed at providing top-notch education and facilities to students. During an interactive session with community stakeholders at the University hall in Isiokpo, he pledged to build a world-standard hospital and ensure 24-hour electricity in Isiokpo Ancient Kingdom, showcasing his dedication to uplifting the lives of residents.

The promise of a hospital and continuous electricity not only demonstrated Wigwe’s commitment to the community, but also underscored his vision for sustainable development. This initiative would not only benefit the students and staff of Wigwe University, but also improve the quality of life for all residents of Isiokpo Ancient Kingdom.

The community stakeholders expressed their appreciation for Wigwe’s unwavering commitment to their welfare and pledged their support for the success of Wigwe University.

Wigwe’s sudden departure leaves a void in the banking industry and the community he served tirelessly. His legacy of excellence, compassion, and dedication to community development will forever be remembered.

NIGERIANS REACT TO WIGWE’S DEATH

Nigerians on social media have continued to mourn following news of the sudden death of the group chief executive officer of Access Holdings Plc, Herbert Wigwe.

The prolific banker, whi supervises one of Nigeria’s top five banking institutions has been described as one of the country’s finest deal makers.

An X user, Seun, said “Appears it’s true. Herbert Wigwe was one of the biggest and finest deal makers in Nigerian financial services sector. May his soul RIP. 💔” he tweeted @Oluseun_akin1

Other respondents on the app described Wigwe’s death as a big loss to the nation and its financial sector.

“He was just giving a farewell speech to Uncle Abdul Imoyo few weeks ago. Whaoooo… Life is truly fickle. He is one of Nigerias finest. May his soul be accepted by his creator. Rest on Herbert Wigwe,” another user, identified as Abby Curtis (@CurtisAbbi) said.

Tolulope Micheal, while bidding the late banker farewell, described his death as shocking and hard to believe.

“The news of the death of CEO of Access Holdings, Herbert Wigwe is shocking and horrible!!

May his soul and the soul of other victims involved in the helicopter crash, rest in peace.

It’s sad. I’m still hoping for someone to come out and debunk this,” he tweeted @im_tolumicheal.

Another X user, identified as AareMusbau (@musbauceo), who shared a short clip of Herbert Wigwe speaking to his community people about his university project, tweeted: “This video of Dr. Herbert Wigwe assuring his community people of providing them with the best university in Africa keeps flashing on my mind.

“Indeed, life is too short, and the next seconds is not guaranteed. Rest on.”

Lawrence Okoro (Sir Law), who tweeted @LawrenceOkoroPG, said losing both Wigwe and Ogunbanjo to a helicopter crash was a very sad incident.

“It’s a very sad day for Nigeria as two business icons are confirmed dead in a helicopter crash in the United States. Rest in Peace, Herbert Wigwe & Abimbola Ogunbanjo.”

Dr Dipo Awojide, while reacting to the passing of Wigwe, described him as one of true champions of human capital in Nigeria and African continent.

“Herbert Wigwe was one of the true champions of Human Capital in Nigeria and Africa. He wrote some much about skills, education and recently started a university. God please console his family and friends. This is tragic and heartbreaking 💔. God please have mercy!!! 😭😭😭”

TOP CITIZENS MOURN WIGWE

Nigeria’s President, Bola Tinubu, leads the crowd of mourners at the demise of Access Holdings boss. Tinubu, through a statement by his media aide, Ajuri Ngelale, described Wigwe and Ogunbajo as exceptional Nigerian business leaders adding that their passing is “an overwhelming tragedy that is shocking beyond comprehension.”

He condoled with the Wigwe and Ogunbanjo families, the business community, and all those impacted by this harrowing incident.

“I pray for the peaceful repose of the departed and asks God Almighty to comfort the multitude of Nigerians who are grieving and the families of the deceased at this deeply agonizing moment,” Tinubu said in the condolence message.

In their condolence messages, Senate President, Godswill Akpabio; Peter Mbah, governor of Enugu; and Dapo Abiodun of Ogun, paid high tribute to Herbert Wigwe.

HE’S A MAN OF INTEGRITY – Akpabio

Akpabio, in a statement on Sunday by Eseme Eyiboh, his media aide, described Wigwe as “a man of integrity”.

“I received with shock the news of the passing of Mr Wigwe and some of his family members in a helicopter crash in the USA. Mr Wigwe’s contribution to the growth of Nigerian banking industry and indeed the economy of the country were exemplary and commendable,” Akpabio said.

“In his chosen career he exhibited a high level of professionalism and unmatched leadership which marked him out as a true patriot. He was a man of integrity who never believed in cutting corners to achieve success in business.

“On behalf of the the 10th Senate of the Federal Republic of Nigeria, I offer our condolences to the Wigwe family, the Board and Management of Access Bank, the Governor of Rivers State, the President and Commander-.in-chief of the Armed Forces of Federal Republic of Nigeria for losing such a great son, iconic entrepreneur a serial investor at such a time that our country needs his services the most.”

HE WAS A BROTHER, TEAM PLAYER, PHILANTHROPIST – Gov Mbah

On his part, Mbah said he received the news with “deep shock”.

The Enugu governor described Wigwe as “a brother, team player, philanthropist and throughbred professional”.

“This news comes with deep shock and rubs in, once again, the vanity of life,” Mbah said.

“Wigwe was a brother, a team player, philanthropist, visionary, and thoroughbred professional, who distinguished himself in the banking industry and corporate world, rising through the ranks to become a pioneer and titan of our time as well as an entrepreneur of global repute and reach.

“This incident is, therefore, an unspeakable disaster and monumental tragedy, not only to Nigeria, but also to the entire corporate world.

“My heart goes out to his immediate family, relatives, the Access Holdings Plc family, corporate Nigeria, and indeed the nation over these grave losses. May God grant their souls eternal repose.”

A ROLE MODEL TO ASPIRING ENTREPRENEURS – Gov Abiodun

Dapo Abiodun, in a statement by Lekan Adeniran, his chief press secretary, said he is deeply saddened by the incident.

He said Wigwe was a quintessential banker who contributed immensely to the Nigerian economy, adding that he was a pillar of support to his administration in Ogun.

“I am deeply saddened by the news of the helicopter crash that claimed the lives of Herbert Wigwe and five others. My thoughts and prayers are with their families during this difficult time,” Abiodun said.

“Herbert Wigwe was not only a respected business leader but also a role model for many aspiring entrepreneurs. His contributions to the banking sector and the Nigerian economy will always be remembered.”

WIGWE’S DEATH IS A MONUMENTAL LOSS – Rivers Gov Fubara

Rivers State Governor, Siminalayi Fubara, expressed shock at the news of the death of Dr. Herbert Wigwe, his wife Chizoba, his son, and others in a helicopter crash in California near the Nevada border, United States.

Wigwe hailed from Rivers State.

The governor described the incident as a “monumental disaster.”

He said Rivers State and Nigeria were in tears over the development.

A statement on Sunday signed by the governor’s media aide, Boniface Onyedi, quoted the governor as saying that there were no words to convey how terrible the losses are, and the state and indeed Nigeria will miss “an unassuming, iconic, and accomplished illustrious son of Isiokpo in Ikwerre Local Government Area of Rivers State.

“Rivers State and the nation are in tears because it would be extremely difficult to understand this sweeping loss of a family involving a strong pillar, accomplished banker and philanthropist with tentacles in the education sector.”

Fubara said the Wigwe University, which the deceased pioneered, must not be allowed to die.

I’M TERRIBLY SADDENED – Okonjo-Iweala

The Director-General of the World Trade Organisation (WTO), Ngozi Okonjo-Iweala, said in a message posted Saturday on her X handle that she feels deeply saddened by Mr Wigwe’s passing.

“Terribly saddened by the news of the terrible loss of Herbert Wigwe, Group CEO Access Bank, his wife and son as well as Bimbo Ogunbanjo in a helicopter crash.

“My deepest sympathies and condolences to the Wigwe family, the Ogunbanjo family, Access Bank Group employees and Management @myaccessbank and my younger Brother Herbert’s partner Aigboje Aig-Imoukhuede. May the souls of the departed rest in perfect peace,” she wrote.

HE WAS A CONSUMMATE BANKER, EDUCATION PROMOTER, AND PHILANTHROPIST – Atiku Abubakar 

The candidate of the Peoples Democratic Party (PDP) in the last election and former vice president of Nigeria, Atiku Abubakar, described the death of Mr Wigwe as an unfortunate incident.

He also expressed condolences and sympathy to the families and loved ones of the deceased.

“In the words of one of Nigeria’s finest CEOs, Herbert Wigwe, ‘Today and always, let us remember that life is a precious gift – a chance to breathe, feel, love, experience and connect. Let’s honour this gift by living with purpose, kindness, and gratitude, making every moment count. Let us number our days’.

“I’m deeply saddened to hear about the unfortunate incident that led to the loss of Herbert Wigwe, Group Chief Executive Officer of Access Holdings Plc, and his family. Indeed, Herbert Wigwe, consummate banker, education promoter, and philanthropist, numbered his days. On behalf of my family, my heart goes out to their loved ones and everyone affected by this unfortunate incident. May their souls rest in peace.”

THIS IS A TRAGIC LOSS – Keyamo

Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, also paid his tribute while describing Mr Wigwe’s passing as a tragic loss of a friend.

“The reported tragic loss of my friend, brother and not-far-away neighbour in Lagos, Herbert Wigwe, the co-founder of Access Bank, the CEO of Access Holdings and the founder of Wigwe University, is very devastating.

“He was in my office earlier this week (where we took the pictures below) and actually left my office to fly out of the country and never came back. I am also shocked to learn his wife, son and other friends were involved in this tragedy.

“We were on the verge of announcing something big for the aviation sector, the reason he actually came to the office with his entire team, both from Access and Wigwe University. This is surreal and I am lost for words.

“May Almighty God comfort his aged parents and siblings (who were also my neighbours in Lagos for many years as a very young lawyer in Anthony Village), his immediate family members, his staff, friends across Nigeria and dependents,” he said.

I’M SPEECHLESS – Gov Soludo

Anambra State Governor, Chukwuma Soludo said Wigwe lived a life of impact and purpose, and also expressed his sad feelings on the suddenness of his demise, which he said, had denied humanity the much more the deceased had to offer.

“To think that we were together about two weeks ago with a promise to meet again this week makes the announcement of Herbert’s death tragic.

“This is another stark reminder of the ephemerality of life. While Herbert lived a life of impact and purpose, I am pained that there was much more he had for humanity that his sudden exit has denied us.

“I am just speechless!” Governor Soludo wrote on his Facebook page on Sunday.

ONE OF AFRICA’S BRIGHTEST MINDS’ GONE – Sanwo-Olu

In his condolence statement on Sunday via X, Lagos State governor, Babajide Sanwo-Olu, described Wigwe as “one of the brightest minds in Africa” and a “visionary leader” who made unparalleled contributions to banking and the financial sector.

“Herbert was not just a brother and visionary leader but one of the brightest minds in Africa. His impact on our nation and beyond will be remembered forever. My heart mourns,” the governor said.

According to Sanwo-Olu, Wigwe was an “unapologetic believer in the Nigerian solution” whose dedication and passion for progress inspired many.

“Today, we mourn not just a leader but a true friend and brother. Lagos and Nigeria have lost a remarkable soul. Rest in peace, my brother,” he added

Other notable Nigerians that sent in their condolences include Kwara governor, Abdulrazaq Abdulfatta, former Ekiti governor, Kayode Fayemi, Senator Shehu Sani, and a host of others.

There is no doubt that Wigwe will be missed. His turnaround of Access Bank remains a phenomenon, his bias for education, and quest to empower women arw debatable standards. It is no secret that Access Bank is the bank of choice for the female folks. This is not forgetting the ambitious Wigwe University, with state of the art facilities, billed to take off in September 2024.

We at The Boss wish enigmatic banker a glorious journey to eternity.

May your soul rest in peace sir!

Headline

There’s Ongoing Cold War Between Dangote and Tinubu Govt, Dele Momodu Reveals

Published

2 days ago

July 25, 2024

Eric

By Eric Elezuo

Veteran journalist and Publisher of Ovation Magazine, Aare Dele Momodu, has revealed that there is a cold war presently going on between richest man in Africa and the President Bola Tinubu-led Federal Government of Nigeria.

Momodu made the revelation while answer questions as a guest on News Central Television on Thursday.

He said: “I am not an expert in petroleum, but I am an expert in conspiracy theory, and I believe that there’s an ongoing cold war between Aliko Dangote and the Tinubu government; that one I’m very convinced about.

“It’s unfortunate that we get personal in Africa, especially in Nigeria, and they are getting personal with him. If he was in their good books, it wouldn’t matter whether what they are saying is true or not. And it’s very dangerous for a government to be vindictive; very dangerous. Because right now, I cannot how investors, whether foreign or local would want to invest in Nigeria.

“In fact, with what Aliko said, that has really damaged our investment opportunities; that people warned him against investing in Nigeria.”

Recall that in the past few weeks, the Federal Government agencies including the Nigeria National Petroleum Company Limited (NNPCL) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have been having a running battle with the Dangote Refinery with the FG claiming that the refinery is not licenced and its products are less than standard.

On his part, Dangote has reiterated, accusing some officials of the NNPCL of owning blending refineries in other countries just as he revealed a hitherto unknown fact that NNPCL owns only 7.2% of Dangote Refinery as against the popularly pronounced figure of 20%.

Headline

Nationwide Protest May Lead to Anarchy, FG Warns

Published

2 days ago

July 25, 2024

Eric

The Federal Government has warned that there would be dire consequences for the stability of the country if a nationwide protest being planned by some Nigerians goes ahead from the beginning of next month.

Secretary to the Government of the Federation (SGF), Senator George Akume, met with ministers in his office behind closed doors to try to avert the protest.

But Nigeria Labour Congress (NLC), yesterday, dismissed reports that it was withdrawing from the proposed national protest by some citizens over the harsh economic situation in the country, saying it cannot be part of an idea that did not emanate from it.

South-east Governors’ Forum also distanced itself from the planned nationwide protests, citing concerns about the fragile political environment and potential hijack by criminal elements.

At the same time, some stakeholders, including some northern groups, opposed the idea of protest in the wake of harsh economic conditions. Instead, they recommended an engagement with the federal government.

But the leadership of Peoples Democratic Party (PDP), which supported the protest, said it was a constitutional right of the people.

In a similar vein, Minority Caucus of the House of Representatives urged the federal government to dialogue with planned protesters with a view to addressing their concerns.

Minister of Information and National Orientation, Mohammad Idris, issued the warning against the protest yesterday, when he received members of the Charismatic Bishops Conference, led by Archbishop (Professor) Leonard Kawas, who were on a courtesy visit to him, at his office in Abuja.

Idris said government was cautious and bothered about the protest against economic hardship, having seen the debilitating consequences of similar protests in other parts of the world, particularly in Kenya and Bangladesh.

The minister voiced concern that arsonists and criminals might be waiting to hijack the planned protest and unleash violence on innocent Nigerians.

Idris stated, “Why everybody is very cautious and very weary of this national protest is because we have seen what has happened around the world.

“We know that it’s almost impossible to hold this protest and then have peace at the end of the day. We cannot do that because some people are waiting to take the laws into their own hands.”

He said while the government of President Bola Tinubu acknowledged the right of every Nigerian to engage in protests, it was equally committed to ensuring that the activities did not disrupt public order or violate the rights of others.

According to him, “You see, the government of President Bola Ahmed Tinubu believes in the freedom of everyone within the confirms of the law to do what he thinks is right for him.

“Therefore, the president is not an opponent of protest of any kind. But the president is an opponent of violence and anything that will hamper the wellbeing of Nigerians.

“He believes and he has always been saying that within the tenets of democracy, you have every right to do whatever you want to do provided that right does not infringe on another person’s right.”

Idris asserted that Tinubu was fully aware of the feelings of Nigerians across the country and he was actively working to implement effective policies aimed at alleviating the challenges faced by the citizenry and bringing relief to all Nigerians.

The minister said one of the policies being fine-tuned by government was to begin to pay stipends to all young university and polytechnics graduates after the National Youth Service Corps (NYSC) scheme, pending their formal employment.

He stated, “But beyond that, there is also another new policy that the president has formulated, which will begin to be seen very soon, and that is that all young men and women who have finished universities and polytechnics and have certificates and have done their mandatory NYSC, and have not been able to get jobs, will have something from the government to keep them afloat until the time they get jobs.”

He described the introduction of the Compressed National Gas (CNG) policy by the president as a game changer in the country’s economy because of its ability to bring down the cost of transportation by about 60 per cent, thereby providing a viable alternative to petrol and diesel.

Idris said, henceforth, any government procurement of vehicles or machinery must have a component of CNG embedded in the contracts.

Earlier, President General of the Charismatic Bishops Conference, dissociated the conference from the planned national protest, saying they have been inundated with calls by some groups to join the protest.

Kawas said, “Recently we received some calls from some other religious organisations and other organisations asking us to join in preparation for a nationwide protest, which would start from 1st August 2024.

“We are here to let you know that we do not think the same. That we have rather decided to go all out and call for a truce. We have decided to sue for peace and humbly request that our brothers and sisters, who are aggrieved in one way or the other, that they should give us some time while we continue to communicate and negotiate with this government on areas that are pertinent to them.”

He appealed to aggrieved Nigerians in all parts of the country to give peace a chance and toe the path of dialogue and negotiation because no reasonable government will fold its hands and allow violence to break down the country.

Headline

Our Products Are Not Sub-Substandard, Dangote Fights Back

Published

6 days ago

July 21, 2024

Eric

By Eric Elezuo

Steadfast and never-say-never entrepreneur, who doubles as Africa’s richest man, Aliko Dangote, has refuted various claims against his petroleum refinery and general enterprise bordering on inferiority and monopolistic tendencies.

The President of Dangote Industries Limited emphatically rejected claims by the Nigerian Midstream and Downstream Petroleum Regulatory Agency (NMDPRA) that petroleum products from his refinery are substandard, in addition to the accusation that the company seeks to monopolize trade, especially in the oil sector.

Dangote rejected the allegations on Saturday when the leadership of the House of Representatives visited and toured the refinery located at the Lekki Free Trade Zone in Lagos.

Speaker Tajudeen Abbas and his deputy Benjamin Kalu led the delegation from the House which included Hon Ikenga Ugochinyere.

To back his position, Dangote and his team tested diesel bought from two filling stations and that from his refinery at the refinery’s laboratories.

The tested diesel from other stations was bought in the presence of the lawmakers, while that from the Dangote Refinery was taken from production also in the presence of the lawmakers.

Two tests were conducted; a test of the sulphur level and a flash test. While all crude-based products contain some level of sulphur, high sulphur levels cause damage to engines and vehicle components.

The flash point refers to the lowest temperature at which the application of the ignition source causes the vapours above the liquid to ignite with the minimum expected flash point at 66.

The results showed that the sulphur content in the diesel from other stations was above 2,631 and 1,829; much higher than the recommended level while the tests for the flash point showed results of 26 and 63 respectively for the diesel from other stations. Both results fell short of the recommended minimum of 66.

The results for the diesel from Dangote turned out to be 87.6 ppm for sulphur and 96 flashpoints.

For Dangote, the result does not only show the reality of products from his refinery, but it also shows that substandard petroleum products are being imported into the country and sold to unsuspecting Nigerians.

‘Probe quality of petrol, diiesel at filling stations’

He called on the House of Representatives to investigate the quality of diesel and petrol at filling stations.

To carry out the investigation, he urged the House to set up a committee to test products at various filling stations across the country.

Decrying the damage being done to vehicles and engines by substandard products, also called on the House to investigate the quality of laboratories being used to test imported products and compare that with the one at the Dangote Refinery.

‘Monopoly Claim Untrue’

Dangote also said the claim in some quarters that his group of companies enjoy monopoly is not true.

“If you look at all our operations at Dangote (Group), we add value; we take local raw materials and turn them into products, and we sell.

“We have never consciously or unconsciously stop anybody from doing the same business that we are doing.

“When we first came into cement production, it was only Lafarge that was operating here in Nigeria…Nobody ever called Lafarge a monopoly,” he said, adding that labelling his group of companies as monopolistic is disheartening.

“Monopoly is when you stop people, you block them through legal means. No, it is a level playing field whereby whatever Dangote was given in cement, for example, other people were given because some of them even got more than us.”

‘No Single Incentive From FG’
The billionaire business tycoon said his refinery did not enjoy any incentive from the Federal Government.

“In the refinery, we did not, and I repeat, we did not collect one single incentive from the Federal Government of Nigeria or even Lagos State. Yes, the Lagos State gave us a good deal but we paid $100m for the land. It wasn’t a free land; we paid for it,” he said.

“Majority of the population are with us. So, we are not discouraged, we will continue what we are doing.”

Addressing the speaker, he said, “The most important thing, your excellency, is to note that the imported one they are encouraging, is the spec in test, but in certain cases when you check (independently), different results will show.”

This, he said, is “because those people who have the lab have been told what to write.”

He said the best way to determine the quality of products being imported and sold to Nigerians is by going to the filling stations, buying and testing them.

Speaker Abbas said going by the presentation and the contradictory claims, there was a need for an investigation.

“I don’t know how we have this contradiction of two players representing the public and private sector,” he said.

“I think it is something we need to investigate further to find out if there are ulterior motives.”

It will be recalled that during the week, a Federal Government of Nigeria petroleum regulatory agency, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), dismissed petroleum products from the Dangote Refinery as inferior, making a case for superiority of imported ones.

The revelation was made by the Chief Executive Officer of NMDPRA, Mr. Farouk Ahmed, while responding to questions from a section of the press, a video of which was trending online, adding that the refinery is only 45% completed, and yet to be licenced for operation by the Nigerian government.

In the short video, which lasted a little over a minute, Mr. Ahmed debunked theories attached to the functionality of the Dangote Refinery, saying it does not have the capacity to ‘feed’ the nation of its petroleum needs, as it stands. He however, refuted arguments that some elements within the oil and gas sector were trying to scuttle the Dangote Refinery.

A transcript of the NMDPRA’s boss short response is as follows:

“It about concerns of supply of petroleum products acros the nationwide, and the claim that we are trying to scuttle Dangote. That is not so. Dangote Refinery is still in the pre-commissioning stage. It has not been licenced yet. We haven’t licenced them yet. I think they are about 45 per cent completed, or completion rather.

“We cannot rely on one refinery to feed the nation, because Dangote is requesting that we suspend or stop imports, especially of AGO and DPK, and direct all marketers to his refinery. That is not good for the nation in terms of energy security, and it is not good for the market because of the monopoly.

“Dangote Refinery, as well as some modular refineries like Watersmith Refinery and Aradel Refinery, are producing between 650 and 1,200 PPM. Therefore, in terms of quality, their products are inferior to imported ones,” he stated.

It will be recalled that only last week, the President, Dangote Industries Limited, Aliko Dangote, while hosting senior journalists from across various media concerns, revealed that the Nigeria National Petroleum Company Limited (NNPCL) owns only 7.2% of stakes in the refinery, and not 20 percent as widely circulated. He also revealed that the refinery is set to begin fuel supply in August 2024.

Many stakeholders and respondents have alleged that there’s no love lost between the government of the day and the Dangote Group, and that explains the hiccup situation surrounding the takeoff the $19 billion refinery.

Dangote has been fighting a battle of his life since the establishment of his refinery; from OICs, IPMAN and other concerns, posing the question, who’s afraid of Dangote?