The Dangote Petroleum Refinery and Petrochemicals has uncovered a new fraudulent scheme involving some of its affiliate marketers and strategic partners, who were found to be diverting subsidised refined products for personal gain. This discovery has led to the suspension of the refinery’s discounted fuel supply program. An internal investigation revealed that several marketers granted…
President of the Dangote Group, Alhaji Aliko Dangote, has expressed skepticism about the possibility of the government-owned Port Harcourt, Warri, and Kaduna refineries ever returning to operation, despite reportedly consuming around $18 billion under the management of the Nigerian National Petroleum Company Limited (NNPCL). Speaking during a visit by Global CEO Africa delegates from Lagos…
PETROAN Raises Alarm Over Dangote Refinery’s Distribution Strategy, Warns of Potential Job Losses and Market Monopoly The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government and key industry regulators, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to intervene in the Dangote Refinery’s planned fuel distribution expansion,…
The Dangote Petroleum Refinery has announced plans to begin nationwide distribution of Premium Motor Spirit and diesel from August 15, 2025. The company is deploying 4,000 brand-new Compressed Natural Gas-powered tankers to boost delivery capacity and improve access to fuel across the country. The offer, according to a statement released on Sunday, is open to…
The President and Chief Executive of the Dangote Group, Aliko Dangote, has expressed gratitude over his appointment to the World Bank’s Private Sector Investment Lab, a body tasked with boosting investment and job creation in emerging economies. In a statement confirming his acceptance, Dangote reaffirmed his commitment to fostering sustainable economic growth through private sector-led…
Nigerians may face a rise in the prices of premium energy products, including diesel and petrol, as the Dangote Petroleum Refinery temporarily suspends the sale of petroleum products in Naira. “This decision is necessary to avoid a mismatch between our sales proceeds and crude oil purchase obligations, which are currently denominated in US dollars,” the…
The Nigerian National Petroleum Company Limited (NNPCL) has addressed recent social media reports regarding the alleged unilateral termination of its crude oil sales agreement with Dangote Refinery in Naira. In a statement issued on Monday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified that the contract for selling crude oil in Naira was a six-month…
The President of the Dangote Group, Alhaji Aliko Dangote is now the 86th richest man in the world as his wealth rose to $23.9bn. This is coming a year after the $20bn Dangote Petroleum Refinery commenced operations in Lagos. According to Forbes on Tuesday, which ranks the Nigerian entrepreneur as the wealthiest person in Africa,…
Officials at Dangote Refinery have denied claims that the controversial fuel allegedly purchased from an NNPC filling station originated from their facility. This statement comes after the Nigerian National Petroleum Corporation Limited (NNPCL) rejected allegations on Saturday regarding the sale of substandard petrol with a high burn rate. NNPCL’s spokesperson, Olufemi Soneye, issued a statement…
The Dangote Refinery has slashed its ex-depot price for premium motor spirit (PMS), better known as petrol, from ₦950 per litre to ₦890. In a statement, the company said the move is “effective from Saturday, 1st February 2025”. The Dangote Group Chief Branding and Communications Officer Anthony Chiejina said the reduction is based on market…
