He said, “We are still importing products below our standard, while a regional company like Dangote can meet and exceed these requirements. The private sector must play a leading role in ECOWAS industrialization.”
While commending the Dangote Group's investment in industrial development, Touré stressed that there is a “need” for closer collaboration between governments and the private sector to drive regional development. He said his visit was also an opportunity to hear directly from Dangote on what the private sector expects from ECOWAS.
Also read: Beyond Oil (Future Without Oil)
The ECOWAS President stressed that a strong “industrial strategy is essential” to address persistent issues such as poverty, unemployment and insecurity. He pledged the Commission’s support in facilitating market access for Dangote Group across West Africa and beyond.
Leading the delegation on a guided tour of the facility, Chairman of Dangote Group, Aliko Dangote reiterated that the refinery was built with a Pan-African vision and has the potential to supply refined products to the sub-region.
Dangote said, “There have been many claims that we do not even produce enough to meet Nigeria's needs, so how can we possibly supply other West African countries? But now, they are here to see the reality for themselves and more importantly, to encourage other countries to undertake similar large-scale industrial projects.” He warned that continued reliance on imports was not sustainable for the continent.
Dangote commented, “As long as we continue to import what we can produce, we will remain underdeveloped. This refinery is proof that we can build for ourselves on a large scale, to global standards.”
Highlighting the economic benefits of domestic refining, Dangote noted the significant decline in diesel prices when the refinery began production last year.
“Guardian” newspaper of June 2, 2025. Front page headline: Serap sues NNPCL over alleged missing N500b” (By Oludare Richards).
“Highlighting the economic benefits of domestic refining, Dangote noted the significant drop in diesel prices when the refinery began production last year.”
“The Socio-Economic Rights and Accountability Project (SERAP) has sued the Nigerian National Petroleum Company Limited (NNPCL) over alleged failure to account and explain the missing N500 billion which it failed to remit to the Federation account between October and December 2024.
The suit follows recent allegations by the World Bank that out of the N1.1 trillion revenue from crude oil sales and other income in 2024, NNPCL paid only N600 billion, leaving a loss of N500 billion unaccounted for.
In response to SERAP's Freedom of Information (FOI) request, NNPCL through its lawyers, Efe Babalola & Company, claimed that the FOI Act does not apply to it.
But in suit number FHC/L/MSC/553/2025, filed over the weekend at the Federal High Court in Lagos, SERAP is seeking an order of mandamus to direct and compel NNPCL to account for the alleged missing N500 billion which it allegedly failed to remit to the federation account between October 2024 and December 2024.
SERAP is also asking the court to direct and compel NNPCL to invite appropriate anti-corruption agencies to investigate the expenditure and whereabouts of the said N500 billion and ensure prompt recovery and remittance of the funds to the federation account.
Furthermore, the organization is asking the court to direct and compel NNPCL to identify those allegedly responsible for the missing oil funds, recover the entire amount from them and hand them over to the appropriate anti-corruption agencies for investigation and prosecution.
In the suit, SERAP is arguing that NNPCL has a responsibility to comply with the Nigerian Constitution 1999 (as amended), the Freedom of Information Act and the country's international human rights and anti-corruption obligations in the exercise of its statutory functions.
“Thisday” newspaper of June 2, 2025. Front page headline: “ECOWAS: Dangote refinery symbolizes hope for Africa; Founder has continental vision” (from Peter Uzoho).
“Chairman of the Economic Community of West African States (ECOWAS) Commission, Dr. Omar Aliu Touré, has described the 650,000 barrel per day Dangote Petroleum Refinery as a beacon of hope for Africa’s future and a clear demonstration of what the private sector can achieve in the drive for regional industrialization.
Also read: Beyond Oil (Future Without Oil) Part II
Toure made the announcement when he led the ECOWAS delegation on a high-level tour of the state-of-the-art facility located atop the Lekki Free Zone on the banks of the Atlantic, Lagos.
According to a statement from the Dangote Group, the delegation also included the ECOWAS Commissioner for Infrastructure, Energy and Digitalisation, Sediko Doukas; Internal Service Commissioner, Prof. Nazifi Abdullahi Darma; Director of Private Sector/SMEs, Dr. Tony Luca Elumelu; And Dr. Touré's Chief of Staff, Hon. Abdul Koli, others.
“What I have seen today gives me a lot of hope, and anyone who doesn't believe in Africa should come here. Coming here will give you more hope because this is what our continent should really be focusing on,” commented Touré, who was clearly impressed by the scale and sophistication of the facility.
“We have seen something that I could not even imagine, and really the potential across all sectors is impressive. We congratulate Alhaji Dangote for this confidence in Africa because I think you only do this when you have confidence, and he has a vision for Africa, and that is what we should all be working to encourage,” he said.
