The Dangote Petroleum Refinery and Petrochemicals has reduced its gantry price for premium motor spirit (PMS), popularly known as petrol, to ₦1,200 per liter. According to him, the price adjustment represents a downward review in the refinery’s pricing template. This comes at a time of heightened uncertainty in the global oil market, driven by geopolitical…
President of Dangote Group, Aliko Dangote, has expressed concern over the ongoing crisis in the Middle East. He warned that the situation could worsen economic hardship in the nation if not urgently resolved. The billionaire businessman stated this on Monday after his visit to President Bola Tinubu in Lagos. Speaking on the implications of the crisis,…
The Federal Government of Nigeria has suspended the issuance of import licenses for Premium Motor Spirit (PMS), popularly known as petrol or fuel, for the second consecutive month as regulators move to enforce provisions of the Petroleum Industry Act. The development comes as authorities begin implementing the law’s requirement that petrol imports should only be…
The cost of goods and services across Nigeria is expected to increase further following a fresh hike in petrol prices by the Dangote Petroleum Refinery, which has raised the gantry price of Premium Motor Spirit (PMS) to ₦1,175 per litre. The adjustment marks the third petrol price increase within one week, intensifying concerns over rising living costs…
The Independent Corrupt Practices and other Related Offences Commission, ICPC, has asked Alhaji Aliko Dangote to appear before a panel of investigators on Monday in Abuja over a petition written by him. Alhaji Dangote had written a petition against Farouk Ahmed, former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, over…
Some fuel importers in the country have alleged that the Dangote refinery has sells a litre of petrol to international traders at 65 naira cheaper than the amount it gives the product to marketers in Nigeria. The Depot and Petroleum Product Marketers Association of Nigeria, Petroleum Products Retail Outlet Owners Association of Nigeria, DAPPMAN confirmed…
Big Brother Naija Season 7 winner Ijeoma Joesphina Otabor, popularly know as Phyna, has accused Dangote Group of failing to fulfill a promise to fly her sister, Ruth, abroad for medical treatment. Ruth, Phyna’s younger sister, was involved in a tragic accident where she was hit by a Dangote truck allegedly driven by an underage,…
President Bola Tinubu has reacted to Africa’s richest man, Alhaji Aliko Dangote’s appointment to the World Bank’s Private Sector Investment Lab. The World Bank’s Private Sector Investment Lab is a body tasked with promoting investment and job creation in emerging economies. Tinubu, while congratulating the Chairman of Dangote Group, noted that the appointment was apt,…
There are indications that the naira-for-crude policy of the Federal Government may continue, as impeccable insider sources familiar with the development insisted on Monday that all parties involved in the deal would reconvene soon. The first phase of the six-month deal involving the Federal Government, Nigerian National Petroleum Company Limited, and Dangote Petroleum Refinery ended…
Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria have signed a 60 million-litre weekly Premium Motor Spirit supply deal. This comes as IPMAN confirmed that fuel prices have marginally reduced across Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria have signed a 60 million-litre weekly Premium Motor Spirit its member filling…