Dangote Refinery has announced that it may be compelled to export 95-97% of its Premium Motor Spirit (petrol) due to a lack of interest from local marketers in Nigeria. The indigenous oil company, which has a capacity of 650,000 barrels per day, reported that only 3 to 5 percent of petrol marketers are willing to…
Dangote Petroleum Refinery has clarified why it cannot set the price of petrol. In a statement released on Thursday, Anthony Chiejina, the Group Chief Branding and Communications Officer, explained that the market for Premium Motor Spirit (PMS) is heavily regulated, a fact well-known to all oil marketers and industry stakeholders. This regulation is the reason…
Johann Rupert of South Africa has surpassed Aliko Dangote, the President of the Dangote Group, to become the richest person in Africa. Dangote, who had maintained the top position for several years, saw his wealth decrease by $1.7 billion year-to-date, as reported in the latest Bloomberg Billionaires Index released on Wednesday. In contrast, Rupert’s net…
Nigerian oil traders said the Dangote refinery could lower the price of petrol to between 600 and 650 naira per liter depending on its production cost. The National Vice President of the Independent Petroleum Marketers Association of Nigeria, Hammed Fashola, disclosed this in a statement on Monday. His comment comes amid indications that the $20…
Ex-president, Olusegun Obasanjo has said cabals in Nigeria’s oil and gas division will proceed to frustrate the $20 billion Dangote Refinery since it is profiting from refined petrol purport. He unveiled this in a later meet with the Financial Times. This comes in the midst of the proceeded emergency Dangote Refinery is hooking with within…
Nigerian government has been told that collaboration with Dangote Refinery and other local refineries will end the country’s rising inflation which stood at 34.19 percent in June 2024. This is according to the Crude Oil Refiners Association of Nigeria in a recent statement by its Publicity Secretary, Eche Idoko. Idoko’s comment comes amid the recent…
The President of Dangote Industries Limited, Aliko Dangote, has been invited by President Brice Nguema of Gabon to invest in cement and fertiliser production in the country. According to a statement on Tuesday by the media office of Dangote Group, the billionaire was invited to explore investment opportunities in cement and fertiliser, at a time…
The Minister of State Petroleum Resources (oil) Heineken Lokpobiri, has met with the chairman and chief executive officer of Dangote Petroleum Refinery, Aliko Dangote, and the chief executive officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, (NMDPRA) The meeting was held on Monday, July 21, to resolve ongoing issues surrounding the Dangote…
Dangote Refinery has revealed plans to be listed on the Nigerian Exchange Limited before the end of March 2025. Aliko Dangote, the Chairman of Dangote Group disclosed this to journalists on Sunday. This comes as the company further delayed the commencement of fuel supply to August 2024 from its earlier July date. According to him,…
Business mogul Aliko Dangote has highlighted a major impediment to job creation and speedy economic growth in the country. He said the high interest rate can discourage investment and hamper economic growth. Dangote, President of the Dangote Industries Limited, warned that the 26.25% interest rate fixed by the Central Bank of Nigeria (CBN) will incapacitate…
