By Ajibola Olarinoye Aliko Dangote, who is basically running the Dangote Refinery says he’s not exactly sugarcoating his thoughts on the Ajaokuta Steel Company. The man straight-up said it’s a lost cause. He’s got this pretty blunt view: if you’re dreaming about a strong nation but your steel industry is basically a pile of old…
In a significant move, Aliko Dangote, the founder and majority shareholder of Dangote Cement, has announced his retirement from the position of Chairman of the Board. This decision marks a pivotal moment not just for Dangote Cement but for the wider business landscape, as Dangote has been a prominent figure in the industry. Anthony Chiejina,…
Alhaji Aliko Dangote, head of the Dangote Group, has said Nigeria’s government-run refineries in Port Harcourt, Warri, and Kaduna might never work properly again. This is despite reports claiming over $18 billion has been spent to fix them. While hosting Global CEO Africa at the Dangote Petroleum Refinery, Dangote explained that his plan to build…
Aliko Dangote, President of Dangote Group, has attributed the refinery’s growing dependence on crude oil imports from the United States to a decline in domestic crude supply. He made this statement during a visit from the Coordinator of the One-Stop-Shop for Naira-for-Crude and her team to the $20 billion Dangote Refinery on Thursday. Dangote praised…
Ajibola Olarinoye The Independent Petroleum Marketers Association of Nigeria (IPMAN) has suggested that Dangote Refinery should price premium motor spirit (PMS) at approximately N770 per litre. Chinedu Ukadike, the spokesperson for IPMAN, made this statement on Monday in response to remarks from businessman Aliko Dangote, who claimed that Nigeria’s petrol is relatively inexpensive, with his…
Aliko Dangote, President of Dangote Refinery, announced that Nigeria’s price for premium motor spirit has dropped to 55% below the average fuel price in West Africa, thanks to the refinery’s capacity of 650,000 barrels per day. Dangote made this statement on Sunday following a visit from a high-level delegation led by Dr. Omar Touray, President…
The Federal Government has clarified that its naira-for-crude initiative with local refineries is not a temporary solution but a crucial policy aimed at promoting sustainable local refining. Officials stated that the initiative is still operational and will resume immediately, countering the previous decision made by the NNPCL under former CEO Mele Kyari, which had suspended…
Paul Alaje, a financial analyst and Chief Economist at SPM Professionals, has indicated that the price of Premium Motor Spirit (petrol) could decrease to between N650 and N800 per litre if the ongoing price competition between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) persists. In an interview with Channels Television on Tuesday,…
Aliko Dangote, President of Dangote Industries Limited, has announced that his refinery possesses a substantial supply of Premium Motor Spirit (PMS) to adequately fulfill Nigeria’s local demand. The billionaire made this statement following a tour of the refinery by a delegation from the Zambian government, headed by Minister of Energy, Mr. Makozo Chikote. Dangote revealed…
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has stated that the recent reduction in ex-depot prices of premium motor spirit by Dangote Refinery will help alleviate the hardships faced by Nigerians and positively influence the nation’s economy. Joseph Obele, the spokesperson for PETROAN, shared this information in a statement on Saturday, responding…
