Tag: Dangote Refinery
Nigeria Takes Major Step Toward Energy Self-Sufficiency: Diesel and PMS Now Manufactured Locally
In a historic move, Nigeria has successfully commenced the local production and sale of Diesel and Premium Motor Spirit (PMS) for the first time in years, marking a significant milestone in the nation’s journey toward energy self-sufficiency. The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and the Chairman of the…
Petroleum Marketers Seek Clarity on Dangote Refinery Petrol Pricing
The President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, has called on the Dangote Refinery to disclose the pricing of its petrol, stating that local marketers are eager to engage with the refinery but are currently unaware of its pricing structure. Gillis-Harry expressed that the lack of transparency has made it impossible…
Dangote Refinery Agrees to Sell Crude and Buy Fuel in Naira Amid Potential Losses
In a bold move aimed at supporting Nigeria’s economy, Aliko Dangote, Africa’s richest man and owner of the Dangote Refinery, has agreed to the federal government’s proposal to sell crude oil in naira and buy fuel in the local currency, despite the likelihood of incurring significant financial losses. The Vice President of Dangote Group, Edwin…
Lagos State Government Sued Over Alleged $100 Million Payment by Aliko Dangote for Ibeju-Lekki Land
The Lagos State Government has been taken to the Federal High Court in Ikoyi, Lagos, following a lawsuit seeking transparency regarding a recent claim by Alhaji Aliko Dangote that he made a payment of $100 million to the government for land. The lawsuit demands that the state disclose details surrounding the alleged transaction, including how…
IPMAN: Fuel Pricing to Be Driven by Competition Between NNPC and Dangote Refinery
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has indicated that the price of petrol will determine whether its members purchase from the Nigerian National Petroleum Company (NNPC) or Dangote Refinery. According to Ukadike Chinedu, the National Publicity Secretary of IPMAN, marketers will seek the most cost-effective source as competition between local suppliers sets in….
NNPC Clarifies: Dangote Refinery Free to Offer Competitive Prices in Nigerian Market
The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to claims made by the Muslim Rights Concern (MURIC) that its actions may be undermining the operations of the Dangote Refinery Limited (DRL). In a statement released today by Olufemi Soneye, Chief Corporate Communications Officer of NNPC Ltd., the company emphasized that the Nigerian market…
Dangote Refinery Denies NNPC Lifting of Petrol, Refutes Reports on Pricing
Lagos, Nigeria – The Dangote Group has officially refuted claims that the Nigerian National Petroleum Corporation (NNPC) has begun lifting refined petrol from its refinery, following a misleading headline published by BusinessDay on September 4, 2024. The article alleged that NNPC had started lifting petrol from the Dangote Petroleum Refinery and was selling it at…
BREAKING: Dangote Refinery Begins Petrol Production
Aliko Dangote, Africa’s richest man and founder of the Dangote Group, has officially announced the commencement of petrol production at the highly anticipated Dangote Refinery. The announcement marks a significant milestone in Nigeria’s energy sector. During a press briefing, Dangote expressed his profound gratitude to President Bola Ahmed Tinubu for authorizing the sale of crude…
BREAKING: President Tinubu Proposes Crude Oil Sales to Dangote Refinery in Naira
Abuja, Nigeria — In a significant move aimed at stabilizing fuel prices and the exchange rate between the dollar and the Naira, President Bola Tinubu has extended a vital lifeline to the Dangote Refinery. The Federal Executive Council (FEC) has approved a proposal put forward by the President to sell crude oil to the Dangote…
House of Representatives Calls for Suspension of NMDPRA Chief Executive Amid Investigation
Abuja, Nigeria – In a decisive move, the House of Representatives has called for the suspension of the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA) pending a thorough investigation into allegations against the Authority. The decision came after Honorable Esosa Iyawe raised a motion of urgent public importance regarding the need…