Business
Dangote refinery can supply Jet Fuel Globally — Official
The Chief Executive Officer of the Dangote Petroleum Refinery, David Bird, says the 650,000 barrels-per-day (bpd) refinery has a substantial surplus of jet fuel and is well-positioned to supply global markets.
Mr Bird disclosed this on Tuesday during a speech at the S&P Global Energy Middle East Petroleum and Gas Conference in London.
“We’re very grateful to be seen as a reliable, high-quality and dependable supplier able to land our product competitively all over the world,” Reuters quoted Mr Bird as saying.
According to him, lower demand within Africa compared to other regions has created export opportunities for the refinery.
His comments come at a time when global energy markets remain under pressure following tensions involving the US, Israel and Iran, which heightened concerns over supply disruptions around the Strait of Hormuz and contributed to volatility in fuel markets.
Jet fuel has been among the products significantly affected by these disruptions, with prices remaining elevated in many markets.
Mr Bird’s remarks also come amid persistent concerns within Nigeria’s aviation industry over the rising cost of Jet A1 fuel.
In recent months, PREMIUM TIMES has reported extensively on the pressure facing domestic airlines as aviation fuel prices surged, prompting warnings about possible disruptions and operational challenges.
Several operators, including Air Peace, United Nigeria Airlines and Ibom Air, have repeatedly complained about soaring Jet A1 prices, saying the development has strained operations and disrupted schedules.
The situation prompted government intervention after airline operators warned that sustained increases in aviation fuel costs could threaten the survival of some carriers.
Despite those interventions, airlines continue to report operational difficulties linked to fuel costs, including delays, cancellations and reduced flight frequencies.
However, the situation has also created opportunities for refiners outside the Gulf region, including Dangote Refinery, to expand exports to international markets.
Mr Bird said the refinery is currently operating at full nameplate capacity and is planning what he described as a “ruthless replication” strategy to expand output.
“We will bring 700,000 barrels per day of fully complex refining capacity on stream by the end of 2028,” he said, adding that long-lead equipment has already been procured while construction contracts are being awarded.
He added that the group could eventually increase refining capacity to 2.1 million bpd, supported by plans for another refinery in East Africa, positioning the company as a major player in global crude and refined product markets.
“Nigeria has gone from fuel scarcity to absolute fuel abundance since the Dangote refinery came online,” Mr Bird said.
According to Kpler data cited last month, the Dangote Petroleum Refinery exported an estimated 57 million barrels of jet fuel between April 2024 and April 2026.
The data showed exports rose from about 20,000 barrels per day in April 2024 to around 65,000 barrels per day by the end of that year before peaking at approximately 160,000 barrels per day during the review period.
The figures highlight the growing role of refined petroleum exports in Nigeria’s energy sector, particularly aviation fuel, as the country seeks to strengthen domestic refining capacity and reduce dependence on imported products.
Business
Cornerstone Insurance Unveils “Cornerstone 3.0” Transformation Agenda at 2026 Brokers’ Business Lunch
Cornerstone Insurance PLC has unveiled key elements of its transformation agenda, “Cornerstone 3.0,” aimed at strengthening its operations, enhancing customer experience and positioning the company for sustainable growth.
The agenda was a major focus at the company’s 2026 Brokers’ Business Lunch, recently held at the Metropolitan Club, Lagos, with brokers, stakeholders and members of Cornerstone’s management team.
The gathering provided an opportunity to share the company’s broader strategic direction with the market, backed by the support of its majority shareholder, Chapel Hill Denham. The partnership with Chapel Hill Denham forms part of Cornerstone’s broader growth and transformation journey, as the company strengthens its business, enhances its market position and prepares for its next phase of growth.
The event was led by Stephen Alangbo, Managing Director/CEO, Cornerstone Insurance PLC; Kola Adekoya, Acting Managing Director, FIN Insurance Company LTD and Abdur Rasheed Babalola, Managing Director, Hilal Takaful Insurance.
Speaking at the event, Mr. Alangbo, outlined Cornerstone’s vision for its next phase of growth, highlighting the significant changes taking place across the business. At the heart of this journey is Cornerstone 3.0, a transformation programme focused on building a more agile, technology-driven and customer-centric insurance business. A key component of the transformation is the planned restructuring into Cornerstone Life and Cornerstone General, alongside the continued development of Hilal Takaful Insurance to expand the company’s Takaful offerings, subject to final approval by NAICOM.
Technology also remains a key component of the agenda, with the evolution of CiCi, Cornerstone’s AI-powered customer service platform, including its voicebot capability, aimed at making services such as enquiries, complaints, claims, policy renewals and insurance purchases more accessible.
Mr. Alangbo further reaffirmed their commitment to fast and efficient claims processing, recognising responsive claims service as central to delivering value and building customer trust.
The Brokers’ Lunch also provided an opportunity for Cornerstone to engage directly with the brokers, receive feedback and identify areas for improved collaboration. Stephen Alangbo acknowledged brokers as key drivers of the business and encouraged them to continue to consider Cornerstone as a first-choice partner for their clients’ corporate, individual and Takaful insurance needs.
The engagement reflects Cornerstone’s commitment to working closely with its broker network, as it advances its transformation agenda and builds a more agile, innovative and customer-focused insurance business.
The post Cornerstone Insurance Unveils “Cornerstone 3.0” Transformation Agenda at 2026 Brokers’ Business Lunch appeared first on Business Today NG.
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has reiterated its commitment to activating multiple pathways to transform Nigeria into a global gas hub.
According to a statement issued by NNPC’s Chief Corporate Communications Officer, Andy Odeh, the company’s Executive Vice President, Gas, Power & New Energy, Olalekan Ogunleye, disclosed this while speaking at the 2026 Gas Technology & Exhibition Conference (GASTECH) in Bangkok, Thailand, on Monday.
Mr Ogunleye spoke during a panel session themed, “The New LNG Order: Leadership Strategies for Energy Security and Growth.”
He said Nigeria was leveraging its more than 215 trillion cubic feet (tcf) of proven gas reserves to drive domestic industrialisation and expand its export market as geopolitical tensions, conflicts and other factors continue to affect global energy supply and demand.
“Gas development and monetisation from Nigeria’s standpoint is a purely commercial play. NNPC Ltd. is implementing a Gas Master Plan (GMP) engineered as a gap-to-potential tool to move Nigeria from a 215tcf reserves position to above 600tcf,” Mr Ogunleye said.
Gas production targets
According to the statement, Mr Ogunleye said NNPC’s strategy is anchored on stronger coordination under the Petroleum Industry Act (PIA), the Decade of Gas Framework and the Gas Master Plan.
He said the near-term targets are to increase Nigeria’s national gas production to 10 billion standard cubic feet per day (Bcf/d) by 2027 and 12 Bcf/d by 2030.
In January, NNPC unveiled its Gas Master Plan (GMP) 2026, aimed at driving industrialisation and strengthening Nigeria’s energy security.
At the launch, NNPC’s Group Chief Executive Officer, Bayo Ojulari, said Nigeria had about 210 trillion cubic feet (Tcf) of proven gas reserves, with an upside potential of up to 600 Tcf.
He described the resource base as one of the world’s most significant hydrocarbon endowments, saying its development was supported by the Petroleum Industry Act 2021 and the Federal Government’s gas-focused energy transition agenda.
Mr Ojulari said the plan was designed to exceed the presidential mandate of raising national gas production to 10 Bcf/d by 2027 and 12 Bcf/d by 2030.
According to him, the plan is expected to catalyse more than $60 billion in investments across the oil and gas value chain by 2030.
He said the plan prioritises cost optimisation, operational excellence and the systematic conversion of gas resources from 3P to bankable 2P reserves.
The plan also seeks to strengthen gas supply to power generation, Compressed Natural Gas (CNG), Liquefied Petroleum Gas (LPG), Mini-LNG and other critical industrial off-takers.
Mr Ojulari said NNPC adopted a collaborative and investor-centric approach in developing the GMP 2026, with input from industry stakeholders, partners and investors.
LNG expansion
At GASTECH, Mr Ogunleye said Nigeria was already a reliable global gas supplier and was pursuing a major expansion of its LNG capacity.
He cited the Nigeria LNG project’s Trains 1-6, which have a combined production capacity of 22 million tonnes per annum (MTPA) and have exported more than 6,000 LNG cargoes since 1999.
He also cited Train 7, which is scheduled for completion in 2027, as part of the country’s ongoing LNG expansion.
READ ALSO: Audit Reports: Reps panel vows to make NNPC, oil marketers account for ₦432bn debt
Mr Ogunleye said Nigeria’s geographical position, which gives it access to both the Atlantic Basin and Asian markets, further strengthens its position as a strategic global gas supplier.
He said this advantage, combined with the country’s substantial gas reserves and renewed national focus on gas development, provides a strong basis for expanding the industry.
According to him, domestic gas utilisation and exports are not mutually exclusive, as Nigeria is pursuing a dual pathway that uses exports to generate foreign exchange while expanding domestic gas use to create jobs, strengthen energy security and improve economic wellbeing.
Mr Ogunleye said Nigeria had also de-risked new LNG projects through a robust legal and regulatory framework backed by attractive fiscal incentives.
“With continued efforts towards stable security, competitive gas pricing and assured gas supply, there is no better time for investors and financiers to participate in the development of Nigeria’s LNG projects confidently,” he said.
GASTECH is a major global conference and exhibition focused on natural gas, LNG, hydrogen and low-carbon solutions.
The 54th edition brings together about 50,000 participants from more than 150 countries, including energy experts, chief executives, policymakers, investors and technology leaders, to discuss energy security, LNG supply, infrastructure investment and decarbonisation.
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