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BUSINESS

Dangote petrol supply: FG may slash N6tn fuel import

•N520bn monthly fuel import expected to drop as Dangote begins supply June The Federal Government may cut its approximately N6.2tn yearly fuel import bill if the Dangote Petroleum Refinery begins the sale of premium motor spirit as promised by the Chairman of the Dangote Group, Aliko Dangote. Dangote, while speaking at the Africa CEO Forum Annual Summit in Kigali, Rwanda on Friday, assured Nigerians that following the laid-down plans of […]

todayMay 20, 2024 4

BUSINESS

Dangote refinery gets valid operating licence soon – FG

The Federal Government, on Tuesday, announced that it was set to issue a fully valid operating licence to the 650,000 barrels per day capacity Dangote Petroleum Refinery. It announced this at the  Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority in Abuja. The NMDPRA, an agency of the Federal Government, however, explained that though it had […]

todayMay 1, 2024 15

NEWS

Dangote refinery ranked above 10 biggest European refineries

A financial data and media company, Bloomberg, has ranked the Dangote Refinery above the top 10 biggest refineries in Europe. According to data compiled by the business news platform, the refinery has more capacity than many European ones. The $20bn-worth refinery located in Lekki-Epe Expressway, Lagos State, can refine 650,000 barrels of petroleum products per day. The report sighted by our correspondent on Thursday stated that this is over 246,00bpd […]

todayApril 26, 2024 3

BUSINESS

Diesel price drops as Dangote sells N1,225/litre, supplies petrol May

• Dealers get one million litres each at N1,225/litre, price drops in Oyo, Lagos, Ogun The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery. It was gathered on Tuesday that the $20bn worth refinery started pumping […]

todayApril 3, 2024 8

BUSINESS

Dangote, Adenuga, Abdulsamad, Otedola make Forbes list with $26bn

Forbes has listed Nigerian businessmen, Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu and Femi Otedola, as the top richest Nigerians in 2024. This comes as the combined wealth of Nigeria’s top three richest businessmen dropped slightly by 11.23 per cent to $25.3bn, according to the Forbes Real-Time Billionaires released on Tuesday. The three Nigerians are the President/Chief Executive of the Dangote Group, Aliko Dangote; BUA Group Chairman, Abdul Samad Rabiu, and […]

todayApril 3, 2024 5

BUSINESS

Dangote names refinery road after Wigwe

Billionaire businessman, Aliko Dangote, has named the 120km road leading to his refinery in Lagos after the late Group Chief Executive Officer of Access Holdings, Herbert Wigwe, in recognition of his exceptional contributions to the project. The announcement was made on Monday during a special event held in honour of the late banker at Eko Hotel, Lagos, titled ‘Celebrating Herbert Wigwe – A Professional Legacy.’ Dangote paid tribute to the […]

todayMarch 5, 2024 6

BUSINESS

Dangote refinery: Diesel, JetA1 hit market January, petrol delayed

The Dangote Petroleum Refinery is set to start producing Automotive Gas Oil, also known as diesel, and JetA1 or aviation fuel in January 2024, while the production of Premium Motor Spirit, popularly called petrol, is being delayed by the supply of crude oil in installments. It was gathered on Sunday that the facility would require a minimum of six million barrels of crude oil to kick-start the full production of […]

todayDecember 11, 2023 48

BUSINESS

Dangote refinery secures licence to refine 300,000bpd crude

Africa’s richest man, Aliko Dangote, has said his refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process gasoline soon. “We don’t want to start our refinery with foreign goods, we want to start with the Nigerian crude,” Dangote said in an interview in Riyadh on the sidelines of the Saudi-Nigeria business roundtable, according to Bloomberg. “We’re more than […]

todayNovember 13, 2023 77

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