The Federal Government of Nigeria has officially commenced the sale of crude oil to Dangote Refinery and other local refineries in the local currency, the naira, as of October 1, 2024. This significant step was disclosed by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, in a statement released on Saturday….
The Nigerian National Petroleum Company (NNPC) has provided a detailed breakdown of the estimated petrol prices that will be charged at its retail stations across Lagos and other states, with products sourced from the Dangote Refinery. This information was disclosed in an official statement issued by Olufemi Soneye, the NNPC’s Chief Corporate Communications Officer. According…
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has announced that the Dangote Refinery will begin distributing Premium Motor Spirit (PMS), commonly known as petrol, starting Sunday. Initially, this distribution will be exclusive to the Nigerian National Petroleum Company Limited (NNPCL). This significant development was revealed during a press briefing…
During a recent conversation on an X (formerly Twitter) space hosted by Nairametrics, Mr. Devakumar Edwin, Vice President of Dangote Industries Limited, shed light on the company’s decision to abandon its plans to construct a 1,200-kilometer subsea gas pipeline. The pipeline was initially intended to transport gas from offshore sources to the Nigerian mainland, where…
NNPC explained that the pricing of petroleum products, including those sourced from the Dangote Refinery, is largely influenced by global market conditions.
Owners of local refineries in Nigeria, including the Dangote Petroleum Refinery, assert that they can eliminate the nation’s reliance on imported refined petroleum products within 18 months if the Federal Government collaborates with their strategies. Speaking under the Crude Oil Refiners Association of Nigeria (CORAN), the refinery owners emphasized that multiple refineries at various stages…
Dangote expressed his willingness to transfer ownership of the refinery in response to allegations of monopoly within the industry.
The Management of Dangote Industries Limited has reiterated its stance that international oil companies (IOCs) continue to hinder the supply of crude oil to its 650,000-barrel-per-day refinery. Despite various interventions by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), the management claims that challenges persist. In a statement released on Wednesday, Dangote Group expressed appreciation for…
Aliko Dangote, Africa’s richest man and Chairman of the Dangote Group, following the operational plans of the refinery has announced that Nigeria will no longer need to import gasoline starting next month. This was made known by the Chairman of the Refinery while speaking at the Africa CEO Forum Annual Summit in Kigali on Friday….
Dangote Petroleum Refinery has recently announced another notable reduction in the prices of both diesel and aviation fuel, now offering them at N940 and N980 per litre respectively. This decision follows closely on the heels of their previous reduction to N1,000 just a fortnight ago. The revised price of N940 is applicable to customers purchasing…
