₦airaland Forum

Former Lagos State Governor Babatunde Fashola said his administration discounted the price of land allocated to the Dangote Group to secure the refinery project that later became the Dangote Petroleum Refinery in the Lekki Free Zone.

Fashola made the disclosure during his keynote address, titled “From Presence to Power: Advancing Women’s Influence in the Boardroom,” at the Chartered Institute of Directors (CIoD) Nigeria Women Directors’ Biennial Conference held earlier this week at the National Arts Theatre in Lagos.

He said the decision followed advice from then Lagos State Commissioner for Commerce and Industry, Mrs. Olusola Oworu, who argued that attracting the investment would generate greater long-term economic benefits than insisting on the state’s fixed land pricing.

What they are saying
[b]Fashola recalled that after the Dangote Group selected Lagos as the preferred location for the refinery and the state identified a suitable site, negotiations stalled over the cost of the land.

According to him, Lagos operated a fixed-rate pricing system for land under its various allocation schemes, but the Dangote Group considered the asking price too high, prompting discussions within the state government over whether to proceed with the allocation.

“Look, Governor, you have 16,000 hectares of land. The Chinese are in 3,000 hectares. We have barely built 200. Thirteen thousand is waiting for investors. You have now found an investor who wants to take 2,000 hectares and build a refinery of $19 billion and you are quibbling over the cost of the land. Offer the land at a discount. Once it comes in, others will follow. And then you can make money from your land,” Fashola quoted Oworu as telling the State Executive Council.

“That was a thinking decision. And the whole of council then looked to me and I surrendered,” Fashola said, adding that Oworu’s intervention changed the course of the deliberations. [/b]

“Ineffectiveness is not a gender thing; it is a human thing,” he said while arguing that leadership should be judged by competence rather than gender.
Fashola said the decision enabled Lagos to retain the refinery project after negotiations over the land price stalled. He cited Oworu’s intervention as an example of strategic thinking and used the episode to reinforce his broader argument that women in leadership should be assessed on competence, preparation and impact rather than representation alone.

More insights
The conference also featured calls for organisations to move beyond increasing women’s representation on boards and focus on giving them greater influence over strategic decision-making.

CIoD Nigeria First Vice President, Mrs. Amina Oyagbola, said although more women now serve on corporate boards and lead institutions across the public and private sectors, they remain underrepresented in board chair and executive leadership positions where key decisions are made.
She urged organisations to strengthen mentorship and sponsorship programmes to build stronger leadership pipelines for women.

CIoD Nigeria President and Chairman of the Governing Council, Otunba Adetunji Oyebanji, said board appointments should be driven by competence, skills and integrity rather than traditional leadership pathways that have historically limited women’s access to top positions.
He added that increasing women’s influence in boardrooms is becoming more important as organisations navigate economic uncertainty, technological disruption and changing stakeholder expectations.

Speakers at the conference said expanding women’s participation in leadership requires organisations to focus not only on board representation but also on ensuring women have greater influence over strategic decision-making.

What you should know
The Dangote Group originally planned to build the refinery in the Olokola Free Trade Zone, spanning Ogun and Ondo states. However, disagreements with the Ogun State Government under the administration of former Governor Ibikunle Amosun led the company to relocate the project to the Lekki Free Zone in Lagos.

The refinery commenced production on January 12, 2024, and has a nameplate refining capacity of 650,000 barrels of crude oil per day, making it Africa’s largest refinery and one of the world’s largest single-train refineries.

In February 2026, the company announced it had reached its full designed processing capacity after optimising its Crude Distillation Unit and Motor Spirit production block.

The refinery is seeking to raise about $1 billion through a private placement after being valued at $39.1 billion.

According to an Information Memorandum seen by Nairametrics, indications of interest for the private placement have exceeded $2 billion.
The refinery remains one of Nigeria’s largest private-sector investments and continues to expand its operations while pursuing fresh capital from investors.

https://nairametrics.com/2026/07/04/dangote-refinery-fashola-says-lagos-discounted-land-to-secure-investment/ Please

Ooh-ooh
Seems Fashola wants to be labelled the latest betrayer in town
It's either he didn't get the memo, read the script wrong or simply chose to go rogue!!
Is he trying to take credit for anything in Lagos from the Jagabandit now or what
After the bubble of claiming the land was given to the refinery for free was busted by Dangote himself, Fashola is now pouring more cold water on the hearts of zombies by claiming that Tinubu really had nothing to do with the siting of the refinery in Lekki but that it was simply a state execute council's decision led by him?
Fashola be careful oo. Na express you dey go o
Zone Bees will soon give you what you're looking for

They are quoting me with tears
I love it!!

As per your poll, Tinubu gave Lagos the Lekki FTZ that the refinery currently sits on. Thats why Dangote always thanks Tinubu for the refinery.

Goodvibes007:
As per your poll, Tinubu gave Lagos the Lekki FTZ that the refinery currently sits on. Thats why Dangote always thanks Tinubu for the refinery.

The FTZ was created under Asiwaju

But it was Fashola Government that made things easy for Dangote at Lekki.

Goodvibes007:
As per your poll, Tinubu gave Lagos the Lekki FTZ that the refinery currently sits on. Thats why Dangote always thanks Tinubu for the refinery.

Let us be reducing our lies pls
Lekki FTz is a private investment by a Chinese consortium
While they started the project when Tinubu was governor, they were only able to complete the phase 1 in 2022 which is 12 years after Tinubu left office.
Lekki FTZ does not exist today because of Tinubu but rather because of the Chinese consortium and Dangote's interest there since 2013.

Kukutente23:
Let us be reducing our lies pls
Lekki FTz is a private investment by a Chinese consortium
While they started the project when Tinubu was governor, they were only able to complete the phase 1 in 2022 which is 12 years after Tinubu left office.
Lekki FTZ does not exist today because of Tinubu but rather because of the Chinese consortium and Dangote's interest there since 2013.

I don't like to argue. Tibubu traveled to China to woo investors. Even Obasanjo, despute his dislike for Tinubu, credited BAT for the free trade zone. Dangote credited BAT too.

The Chinese who invested in Lagos did not just fall from heaven. Where were you when Tinubu was traveling to China to woo Chinese investors?

Goodvibes007:
I don't like to argue. Tibubu traveled to China to woo investors. Even Obasanjo, despute his dislike for Tinubu, credited BAT for the free trade zone. Dangote credited BAT too.

The Chinese who invested in Lagos did not just fall from heaven.

They actually fell from Tolarams. The same Tolarams that manufactures indomie. Same Tolaram that was brought to Nigeria by Vaswani in the 70s. You guys should stop regurgitating drivel from your WhatsApp groups
Imagine an adult with brain confidently saying Tinubu brought Chinese to Lagos
You can clearly see "newly created Lekki Free Trade Zone" in your screenshot. I'm sure you understand English
And your paper is dated 2006 while Tolarams started Lekki FTZ in 2002

Goodvibes007:
Tolaram are Indians and not Chinese. You are absolutely clueless.

Tolarams are Singaporeans with Chinese investments. You know absolutely nothing

Goodvibes007:
I don't like to argue. Tibubu traveled to China to woo investors. Even Obasanjo, despute his dislike for Tinubu, credited BAT for the free trade zone. Dangote credited BAT too.

The Chinese who invested in Lagos did not just fall from heaven. Where were you when Tinubu was traveling to China to woo Chinese investors?

Thank you for this excellent screenshot. Even Obj praised Tinubu and called him a brilliant governor. Even during the opening of the refinery. Dangote was full of praises for Tinubu.

Kukutente23:
They actually fell from Tolarams. The same Tolarams that manufactures indomie. Same Tolaram that was brought to Nigeria by Vaswani in the 70s. You guys should stop regurgitating drivel from your WhatsApp groups
Imagine an adult with brain confidently saying Tinubu brought Chinese to Lagos
You can clearly see "newly created Lekki Free Trade Zone" in your screenshot. I'm sure you understand English
And your paper is dated 2006 while Tolarams started Lekki FTZ in 2002

Did you not see the picture where the news paper reported that tinubu traveled to China to woo investors?
You are a very dishonest person. Giving credit to Tinubu wont take a strand of hair of you.

Kukutente23:
They actually fell from Tolarams. The same Tolarams that manufactures indomie. Same Tolaram that was brought to Nigeria by Vaswani in the 70s. You guys should stop regurgitating drivel from your WhatsApp groups
Imagine an adult with brain confidently saying Tinubu brought Chinese to Lagos
You can clearly see "newly created Lekki Free Trade Zone" in your screenshot. I'm sure you understand English
And your paper is dated 2006 while Tolarams started Lekki FTZ in 2002

In one breath you say the Chinese started ftz, in another bread, you said its the Singaporeans. Your lies are falling right apart in front of your eyes.

Goodvibes007:
I don't like to argue. Tibubu traveled to China to woo investors. Even Obasanjo, despute his dislike for Tinubu, credited BAT for the free trade zone. Dangote credited BAT too.

The Chinese who invested in Lagos did not just fall from heaven. Where were you when Tinubu was traveling to China to woo Chinese investors?

Since we're doing screenshot, here's Fayose in China to also "woo" investors
Like Fayose, like Tinubu

Parachoko:
The FTZ was created under Asiwaju

But it was Fashola Government that made things easy for Dangote at Lekki.

If there was no lekki FTZ, there won't be refinery.
If there was no BAT, there won't be Fasola.

Kukutente23:
Since we're doing screenshot, here's Fayose in China to also "woo" investors
Like Fayose, like Tinubu

So why did Chinese not build ekiti free trade zone. Lol

Enugurangers:
In one breath you say the Chinese started ftz, in another bread, you said its the Singaporeans. Your lies are falling right apart in front of your eyes.

Ok. Truth speaker. Tinubu started it.
Can you smile now?

Enugurangers:
So why did Chinese not build ekiti free trade zone. Lol

Fayose does bird know how to speak English. What do you think?

Enugurangers:
Did you not see the picture where the news paper reported that tinubu traveled to China to woo investors?
You are a very dishonest person. Giving credit to Tinubu wont take a strand of hair of you.

Enugu rangers said I'm dishonest
What part of Enugu are you?
Did you read the part of the paper that says the Lekki Free Trade Zone was already existing before Tinubu traveled to China
What's going on with Nigerian education sef

Kukutente23:
They actually fell from Tolarams. The same Tolarams that manufactures indomie. Same Tolaram that was brought to Nigeria by Vaswani in the 70s. You guys should stop regurgitating drivel from your WhatsApp groups
Imagine an adult with brain confidently saying Tinubu brought Chinese to Lagos
You can clearly see "newly created Lekki Free Trade Zone" in your screenshot. I'm sure you understand English
And your paper is dated 2006 while Tolarams started Lekki FTZ in 2002

What are you yapping about. That a private company created LFTZ alone? Thats ignorant. The word free (of duties and taxes) is fiscal, definitely govt related. So every FTZ is a PPP. Federal, state and private sector are involved.

Kukutente23:
Enugu rangers said I'm dishonest
What part of Enugu are you?
Did you read the part of the paper that says the Lekki Free Trade Zone was already existing before Tinubu traveled to China
What's going on with Nigerian education sef

Are you Igbo. So because I am igbo, I should not speak well of Tinubu if did good things in the last or present? By the way, I am from Oji River. I don't know what that has got to do with the topic.

Enugurangers:
Are you Igbo. So because I am igbo, I should not speak well of Tinubu if did good things in the last or present? By the way, I am from Oji River. I don't know what that has got to do with the topic.

Ok Enugu rangers
Keep speaking well if the good things tinubu did including taking our currency from N400 to N1400 per dollar

Did Dangote not mention he paid 150M usd for the land?

Kukutente23:
Ok Enugu rangers
Keep speaking well if the good things tinubu did including taking our currency from N400 to N1400 per dollar

You are extremely ignorant. Thank God President Tinubu blocked that wastage.

Okay. Very impressive . Congrats Dangote

.. and around the same time, Ondo and Ogun state governors were trying to shortchange Dangote. 2 greedy men. Their loss today is Lagos' gain.

The point, which most of you seem to have missed, is that women are steadily taking over spaces once dominated by men.

This is no longer simply about equality. It's now about dominance, and who holds influence.

Walk into any banking hall. Roles that were once predominantly male are now predominantly filled by women..

Whether that's good or bad isn't the point I'm. making.

I'm just pointing out the trend.

Kukutente23:
https://nairametrics.com/2026/07/04/dangote-refinery-fashola-says-lagos-discounted-land-to-secure-investment/ Please

Kukutente23:
Ooh-ooh
Seems Fashola wants to be labelled the latest betrayer in town
It's either he didn't get the memo, read the script wrong or simply chose to go rogue!!
Is he trying to take credit for anything in Lagos from the Jagabandit now or what
After the bubble of claiming the land was given to the refinery for free was busted by Dangote himself, Fashola is now pouring more cold water on the hearts of zombies by claiming that Tinubu really had nothing to do with the siting of the refinery in Lekki but that it was simply a state execute council's decision led by him?
Fashola be careful oo. Na express you dey go o
Zone Bees will soon give you what you're looking for

There wouldn't have been LFTZ without Tinubu stopping the Lagoon from overflowing. The entire Ahamadu Bello Way, Oluwole Street where you have the state liaison offices and several were in danger then.

But Dangote said he paid $100 million for the land. Is that a discount?

Enugurangers:
If there was no lekki FTZ, there won't be refinery.
If there was no BAT, there won't be Fasola.

If there was no afenifere there will be no Bat.