By OLA MODUPE , Lagos- Dangote Petroleum Refinery has announced a temporary halt on the sale of petroleum products in Naira, citing a currency mismatch between its sales proceeds and crude oil purchase obligations. The company in a statement released on Wednesday, said the decision was necessary to avoid...
dangote refinery
The Federal High Court (FHC) in Abuja on Tuesday, dismissed the Nigeria National Petroleum Company Limited (NNPCL)’s objection against a suit filed by the Dangote Petroleum Refinery and Petrochemicals FZE over oil import licence dispute. Justice Inyang Ekwo in a ruling, dismissed the objection on the grounds that the...
By JOY ADARA, Abuja- The Nigerian National Petroleum Company Limited (NNPC Limited) has issued a statement to clarify recent reports regarding the alleged termination of its crude oil sales agreement with Dangote Refinery. Chief Corporate Communications Officer, NNPC Ltd., Olufemi Soneye, said in a statement on Monday that the...
The Nigeria Midstream and Downstream Petroleum Resources Authority (NMDPRA) has issued refining licenses to three companies to build new refineries in Abia, Delta, and Edo States. The authority in a post on its official X page, said the proposed refineries that have been issued licenses are a 100,000 bpd...
The Petroleum Retailers Outlet Owners Association of Nigeria (PETROAN) has commended the NNPC Retail Ltd. for slashing the price of Premium Motor Spirit (PMS), known as petrol from N920 to N875 per litre. PETROAN said the bold move was expected to alleviate the financial burden on Nigerians amidst rising...
By OLA MODUPE, Lagos- Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly referred to as petrol, by N65.00, from N890 to N825 per litre, effective from 27th February 2025. A statement issued on Wednesday by the management of the...
The Dangote Petroleum Refinery has achieved a major milestone, meeting 100% of Nigeria’s petrol needs, according to the President of Dangote Industries Limited, Aliko Dangote. Speaking at the weekend, Dangote disclosed that the refinery has “more than half a billion litres of petroleum and over 600 billion Naira worth...
Nigerian National Petroleum Company (NNPC) Ltd has strongly refuted the false and misleading allegations made in a viral video circulating online, which claims that NNPC fuel does not last. Chief Corporate Communications Officer, NNPC Ltd., Olufemi O. Soneye, in a statement on Saturday , said the assertion is baseless...
By OLA MODUPE,Lagos – Dangote Petroleum Refinery has reduced the ex-depot (gantry) price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890, effective from Saturday, 1st February 2025. The Group Chief Branding and Communications Officer, Dangote Petroleum Refinery, Mr Anthony Chiejina, confirmed this development in...
A Federal High Court in Abuja on Thursday, fixed Feb 5 to hear the Nigeria National Petroleum Company Limited (NNPCL)’s preliminary objection against a suit filed by Dangote Petroleum Refinery and Petrochemicals FZE over oil import licence dispute. Justice Inyang Ekwo fixed the date after counsel to Dangote Refinery,...
By OLA MODUPE, Lagos – Dangote Refinery has explained that the recent adjustment in the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, is directly attributed to the increase in global crude oil prices. It would be recalled that on the 17th of January, 2025, Dangote...
The removal of fuel subsidy in the 2023 federal budget triggered a series of negative developments in the Nigerian economy, made worse by the floating of the local currency. Though necessary at the time, the measures precipitated unintended but unavoidable scenarios. The value of the naira dipped and inflation...
An economic expert, Dr Chijioke Ekechukwu says the coming on stream of more refineries in the country is expected to crash the prices of petroleum products. Ekechukwu, the Chief Executive Officer, Dignity Finance and Investment Ltd. said this on Tuesday in an interview with the News Agency of Nigeria...
Ardova Plc, one of Nigeria’s major integrated downstream oil and gas businesses, has agreed to a bulk purchase framework with Dangote Refinery. Its Head of Brands and Corporate Communications, Mr Grant Onome, said in a statement on Monday that the framework would see his company offtake a full slate...
The Nigeria Labour Congress (NLC), Lagos Council, has lauded Dangote Refinery over the recent slash in fuel price, describing it as a timely economic relief for Nigerians. NLC State Chairman, Funmi Sessi, who made the commendation in a statement on Wednesday, said that Dangote Refinery came at the right...
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has said that Nigerians should expect a reduction in the pump price of the product within the week. Last week, the Nigerian National Petroleum Company (NNPC) Limited and the Dangote Refinery reduced the ex-depot price of petrol to ₦899...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said the price of petrol will drop to N935 per litre by Monday in view of Dangote Refinery’s new arrangement. IPMAN said the new price was necessitated by the reduction in Dangote Refinery’s fuel ex-depot price and uniform arrangement, which...
…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets By OLA MODUPE, Lagos – Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap...
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the management of Dangote Refinery for crashing the price of its petrol to N899.50K per litre. In a statement on Thursday, PETROAN spokesman, Joseph Obele, described the move as a significant relief for motorists and Nigerians at...
By OLA MODUPE , Lagos- Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS), also known as petrol, to N899.50k per litre to reduce transport cost for Nigerians ahead oof Christmas and New Year holiday. It would be recalled that Africa’s first privately-owned oil refinery...