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Hogan Lovells Leads Dialogue on Energy, Technology and Logistics as Catalyst for Growth in West Africa



Hogan Lovells - Investors King

As part of the firm’s commitment to advancing resilient sustainable-led growth in Africa, Hogan Lovells held the West African edition of its inaugural Africa Business Leaders series to explore key sectors and industries projected to spearhead Africa’s economic recovery.

Private-sector experts and investors across the sub-region, led by core members of Hogan Lovells Africa practice, gathered virtually on May 19 to discuss the prospects for Africa’s economic revival.

Facilitated by Andrew Skipper, Head of Africa practice at Hogan Lovells, the session featured thought leaders who shared industry knowledge to help facilitate growth in West Africa. Among them was Yvonne Mhango, Head of Research – Africa, Renaissance Capital who shared insight into the current state of the region and avenues for growth.

Arun Velusami, partner in Hogan Lovells energy and natural resources group, spoke extensively on the recent challenges that have confronted the continent since the pandemic and how they have affected the Infrastructure and Energy sectors in Africa. Arun is highly experienced and has advised governments and developers in a variety of energy projects with particular focus on power projects in Africa, including renewable energy, thermal, and hydro-power projects.

Former Prime Minister of Benin and Co-Chair of SouthBridge, Lionel Zinsou, spoke at the fireside chat on financing African economies and the impact on the population. He shared that the private sector is a major contributor to job creation and the most important power behind sustainable growth in Africa. Speaking further, he stated that infrastructure and logistics remain key areas for investment in Africa to unlock productivity.

A panel consisting of Oti Ikomi, Chief Executive Officer, Proton Energy; Joseph Alain Saraka, Chief Strategy Officer, ARISE; Michelle Patrick-Akinrinade, Investment Advisor – Anglophone West Africa, U.S International Development Finance Corporation (DFC); and Sangu Delle, Chief Executive Officer, Africa Health Holdings discussed the new paradigm for Africa and what it means to the different business activities in the continent.

The Africa Business Series continues with East Africa on June 16 and will explore new investment opportunities in the Agriculture sector and provide insight into the new wave of investments in technology and data infrastructure in the region. The North Africa and Southern Africa events will be held on July and November 2021, respectively. The former will invite leading industrialists and investors for discussion and debate on the future, while discussing the booming manufacturing ecosystem in the region, and the latter will welcome private sector leaders operating in tourism, hospitality and FMCG to draw a plan for economic recovery as well as analyse the services sector in the region.

Speaking on the West African edition, Head of Africa practice at Hogan Lovells, Andrew Skipper said,

“The insights shared from these industry leaders have proven that Africa continues to increase its potential for growth.  Dialogues like this help to build affinity between private sector leaders and investors while examining growth prospects for Africa. At Hogan Lovells, we continue to be committed to understanding, operating in, investing in and respecting the continent, and we are excited to champion the journey to economic recovery and sustainable growth. Infrastructure, renewable energy and technology are key sectors to the economies in West Africa and with consistent collaboration and support, the region will get back to full recovery in alignment with the needs of its citizens, business and Government’’.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq,, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Peter Obi Advocates for Full Government Backing of Dangote’s $21bn Refinery Project



Peter G. Obi

Peter Obi, a prominent Nigerian politician and public figure, has called for unwavering support for the Dangote Refinery amid recent conflicts between Dangote Industries and government agencies.

In a passionate appeal, Obi said the current disputes extend beyond political and personal differences, touching upon the broader interests of Nigeria’s economy and its future prosperity.

In his statement on, Obi highlighted the refinery’s immense potential to drive economic growth and create employment opportunities.

With an estimated annual revenue potential of approximately $21 billion and the capacity to generate over 100,000 jobs, the Dangote Refinery represents a cornerstone of Nigeria’s industrial advancement and economic stabilization.

“The recent challenges faced by Dangote Industries should not overshadow the vital role this enterprise plays in our national economy,” Obi asserted.

“Alhaji Dangote’s contributions are monumental, and it is essential that we rally behind his ventures, particularly the refinery, which is set to make a significant impact on our fuel crisis and foreign exchange earnings.”

The refinery, with its strategic importance, stands as a beacon of hope for Nigeria’s fuel supply and overall economic development.

It is poised to address long-standing issues in the energy sector, provide substantial revenue streams, and enhance the country’s economic resilience. Given these benefits, Obi stressed that any actions hindering the refinery’s operation would be counterproductive.

Obi also commended Alhaji Dangote for his remarkable achievements across various sectors, including cement, sugar, salt, fertilizer, infrastructure, and more.

“Alhaji Dangote embodies patriotism and commitment to Nigeria’s growth. His extensive industrial activities are not only a testament to his entrepreneurial spirit but also a vital contribution to Nigeria’s economic landscape,” he added.

Despite the challenging business environment, Dangote’s diversified industrial investments demonstrate a commitment to Nigeria’s industrialization and job creation.

Obi urged the Federal Government and its agencies to offer full support to Dangote Industries, recognizing the broader economic benefits and the positive impact on national welfare.

“The success of Dangote Industries is intrinsically linked to the success of Nigeria and Africa as a whole. We cannot afford to let such a crucial enterprise falter,” Obi warned. “Every sensible and patriotic government should view enterprises like Dangote Industries as national treasures that deserve robust support and protection.”

Obi’s appeal underscores the critical need for collaboration between the government and private sector leaders to ensure the successful operation of key projects like the Dangote Refinery.

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Dangote Accuses NNPC and Oil Traders of Secret Operations in Malta




Aliko Dangote, chairman of Dangote Industries Limited, has leveled serious allegations against personnel from the Nigerian National Petroleum Company (NNPC) Limited and certain oil traders.

Speaking at a session with the House of Representatives, Dangote claimed that these parties have established a blending plant in Malta, raising concerns about the integrity of Nigeria’s fuel supply.

Dangote described the blending plant as lacking refining capability, instead focusing on mixing re-refined oil with additives to produce lubricants.

“Some of the terminals, some of the NNPC people, and some traders have opened a blending plant somewhere off Malta,” he stated.

He emphasized that these activities are well-known within industry circles.

Addressing the drop in diesel prices, Dangote argued that locally produced diesel, with sulfur content levels of 650 to 700 parts per million (ppm), is superior to imported variants.

He linked numerous vehicle issues to what he described as “substandard” imported fuel.

He called for the House of Representatives to set up an independent committee to investigate fuel quality at filling stations.

“I urge you to take samples from filling stations and compare them with our production line to inform Nigerians accurately,” Dangote insisted.

The accusations come amid an ongoing dispute between the Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Farouk Ahmed, NMDPRA’s chief executive, had previously claimed that local refineries, including Dangote’s, were producing inferior products compared to imports.

Also, the House of Representatives has initiated a probe into allegations that international oil companies are undermining the Dangote Refinery’s operations.

In response to the escalating tensions, Heineken Lokpobiri, the Minister of State for Petroleum Resources, intervened by meeting with key stakeholders including Dangote, Ahmed, and other top officials from the Nigerian petroleum regulatory bodies.

The discussions aimed to address claims of monopoly against Dangote, which he has strongly denied, and to ensure that all parties operate transparently and fairly.

This development highlights the complex dynamics within Nigeria’s oil industry. The allegations and subsequent investigations could impact market stability and investor confidence.

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Africa’s Richest Man, Aliko Dangote Ready to Sell Refinery to Nigerian Government



Dangote refinery

Aliko Dangote, Africa’s wealthiest entrepreneur, has announced his willingness to sell his multibillion-dollar oil refinery to Nigeria’s state-owned energy company, NNPC Limited.

This decision comes amid a growing dispute with key partners and regulatory authorities.

The $19 billion refinery, which began operations last year, is a significant development for Nigeria, aiming to reduce the country’s reliance on imported fuel.

However, challenges in sourcing crude and ongoing disputes have hindered its full potential.

Dangote expressed frustration over allegations of monopolistic practices, stating that these accusations are unfounded.

“If they want to label me a monopolist, I am ready to let NNPC take over. It’s in the best interest of the country,” he said in a recent interview.

The refinery has faced difficulties with supply agreements, particularly with international crude producers demanding high premiums.

NNPC, initially a supportive partner, has delivered only a fraction of the crude needed since last year. This has forced Dangote to seek alternative suppliers from countries like Brazil and the US.

Despite the challenges, Dangote remains committed to contributing to Nigeria’s economy. “I’ve always believed in investing at home.

This refinery can resolve our fuel crisis,” he stated, urging other wealthy Nigerians to invest domestically rather than abroad.

Recently, the Nigerian Midstream and Downstream Petroleum Regulatory Authority accused Dangote’s refinery of producing substandard diesel.

In response, Dangote invited regulators and lawmakers to verify the quality of his products, which he claims surpass imported alternatives in purity.

Amidst these challenges, Dangote has halted plans to enter Nigeria’s steel industry, citing concerns over monopoly accusations.

“We need to focus on what’s best for the economy,” he explained, emphasizing the importance of fair competition and innovation.

As Nigeria navigates these complex issues, the potential sale of Dangote’s refinery to NNPC could reshape the nation’s energy landscape and secure its energy independence.

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