Dangote Industries Limited has reiterated its commitment to positioning Nigeria as a self-sustaining economy in critical sectors including cement, agriculture, mining, and petroleum. Speaking at the ongoing 36th Enugu International Trade Fair on Sunday, the Regional Sales Director for the Southeast, Dr. Abayomi Shittu, emphasized the conglomerate’s resolve to strengthen local production and reduce the…
Aliko Dangote, President of Dangote Industries Limited, has confirmed that his refinery has a substantial reserve of Premium Motor Spirit (PMS) to meet Nigeria’s fuel demands. Speaking during a visit by Zambia’s Minister of Energy, Makozo Chikote, and his delegation, Dangote revealed that the refinery currently holds over half a billion litres of petroleum products,…
The commissioning of Aliko Dangote’s $20 billion (£15.5 billion) oil refinery, a state-of-the-art facility poised to revolutionise Nigeria’s downstream oil sector, stands as one of the nation’s most significant business developments in decades. Yet, amidst the fanfare, Nigerians are left pondering two critical questions: Will fuel finally become affordable? And will the infamous, hours-long fuel…
Nigerian petroleum marketers have raised serious concerns about the Dangote Refinery’s pricing strategy, alleging that the $20 billion facility was not intended to provide affordable petrol to Nigerians. In an exclusive interview with Daily Post on Tuesday, Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), and Abubakar Maigandi, National…
Aliko Dangote, Chairman of Dangote Group, has attributed Nigeria’s ongoing fuel scarcity to retailers’ inaction, asserting that over 500 million litres of refined fuel remain uncollected in his refinery’s storage. Despite the refinery’s capacity to produce over 30 million litres daily, Dangote says distributors are failing to collect and deliver the fuel to the market….
Dangote Refinery has filed a legal case at the Federal High Court in Abuja, challenging the import licences granted to the Nigerian National Petroleum Company Limited (NNPCL), Matrix Petroleum Services Limited, A. A. Rano, and others. The refinery is seeking the annulment of these licences, claiming that they were issued despite its capacity to meet…
Nigerian business magnate Aliko Dangote has solidified his position as the richest man in Africa and climbed to 65th place on the global wealth rankings, with an estimated net worth of $28 billion. The latest figures, published by Bloomberg in its Top 500 Billionaires Index, reflect a significant increase in Dangote’s wealth, primarily due to…
Aliko Dangote, who was previously the richest man in Africa, has been displaced by South African billionaire Johann Rupert, according to the Forbes Billionaire Ranking. Dangote’s net worth has dropped by 20.7% due to the devaluation of the Nigerian currency by the Central Bank of Nigeria (CBN). The devaluation caused the naira to dollar exchange…
