Dangote Refinery Archives - Page 4 of 13

Ɗangote slashes ex-depot petrol price to ₦840/litre

July 2, 2025July 2, 2025 Aminu Imam

Ɗangote Petroleum Refinery has reduced the ex-depot price per litre of petrol from ₦880 to ₦840. The downward review of the price of the premium commodity was confirmed in an update provided on Monday by the spokesman for the refinery, Tony Chiejina. Chiejina said the new ex-depot price took effect on Monday, June 30, 2025, about a week after the Lagos-based refinery jacked up the ex-depot price per litre of petrol to ₦880. Filling stations like MRS Oil & Gas, Ardova Plc, Heyden, and others with special agreements with the…

Fuel: Ɗangote Refinery bypasses marketers, begins direct supply to major consumers

June 26, 2025June 26, 2025 Aminu Imam

Ɗangote Refinery has announced a major shift in its fuel distribution strategy, revealing that it will begin supplying premium motor spirit (PMS) and automotive gas oil (diesel) directly to large-scale consumers such as manufacturers, telecommunications companies, the aviation sector, and other heavy users. The 650,000 barrels-per-day facility shared the update via a statement posted on its official X account on Sunday, noting that the new supply initiative will commence on August 15, 2025. This move marks a departure from the traditional reliance on fuel marketers, as the refinery takes full…

‘Ɗangote Refinery’s direct fuel supply to end bottlenecks’ – IPMAN

June 19, 2025June 19, 2025 Aminu Imam

The Independent Petroleum Marketers Association of Nigeria, (IPMAN) Rivers Chapter, has commended the planned direct distribution of Premium Motor Spirits by Ɗangote Petroleum Refinery to address long-standing limitations in the downstream industry. IPMAN Chairman, Tekena Ikpaki, made that remark while speaking to the newsmen in Port Harcourt on Wednesday. Ɗangote Petroleum Refinery, in a recent statement, announced that it had procured 4,000 brand-new Compressed Natural Gas-powered trucks to boost its fuel supply across the country. The new supply model, which seeks to eliminate costs on logistics, was part of the…

Price War: Marketers sign deal with global suppliers to crash fuel price to ₦700/litre

June 11, 2025June 11, 2025 Aminu Imam

Major petroleum product marketers in Nigeria have reportedly inked a deal with prominent global petrol suppliers to import cheaper products that will sell below Ɗangote and NNPCL retail outlets. According to reports, the deal will see the marketers selling petrol at about ₦700 per litre, far cheaper than what is obtained at NNPCL and Ɗangote Refinery partner stations. Recall that it was earlier reported that the Independent Petroleum Marketers Association of Nigeria, (IPMAN), asked the Ɗangote Refinery to lower its petrol prices below ₦800 per litre. IPMAN’s publicity secretary, Chinedu…

Ɗangote refinery cuts petrol price by ₦15 to ₦875 nationwide

May 23, 2025May 23, 2025 Aminu Imam

Ɗangote Petroleum Refinery & Petrochemicals yesterday announced a further reduction of ₦15 in the price of its high-quality Premium Motor Spirit (PMS), bringing the new price in Lagos down to ₦875 per litre. The latest cut will see petrol retail for ₦885 per litre in the South-West, N895 in the North-West and North Central, and N905 in the South-East, South-South, and North-East. These prices will apply through all its partners, including MRS, AP (Ardova), Heyden, Optima Energy, Techno Oil, and Hyde. The refinery called on other marketers to join its…

“We’re no cabal; we only have vested interest just like you” – Petroleum marketers tell Ɗangote

May 12, 2025May 12, 2025 Aminu Imam

The Depot and Petroleum Products Marketers Association of Nigeria, (DAPPMAN) says no cabal in the midstream and downstream sector, just individuals with vested interests. Recall that on May 1, president of the Ɗangote Group, Aliko Ɗangote, said he was still fightingcabals for the survival of his $20 billion refinery — subsequently describing “cabals” as some major oil marketers and traders. However, speaking in a televised interview on Friday, the Executive Secretary of DAPPMAN, Olufemi Adewole, described the use of “cabals” by Ɗangote as being “negative” and “subversive”. “There is no…

Ɗangote Refinery on track for $30bn annual revenue target despite US tariff

May 5, 2025May 5, 2025 Aminu Imam

Aliko Ɗangote, Africa’s richest person, said his group is on track to generate total revenue of $30 billion next year, even as companies fret over the potential impact of US President Donald Trump’s tariffs. The Chief Executive Officer of Ɗangote Industries Ltd. said his businesses, which include a giant 650,000 barrels-a-day oil refinery in Lagos, Nigeria’s commercial hub, will add at least $5 billion of revenue in 2026 from $25 billion this year. Trump’s tariffs spared oil and gas exports, allowing Ɗangote Petroleum Refinery to keep selling its products to…

Petrol: ‘Marketers ditch NNPCL, as price war with Ɗangote Refinery intensifies’ – IPMAN

February 7, 2025February 7, 2025 Aminu Imam

The Independent Petroleum Marketers Association, (IPMAN), has disclosed that its members are already severing ties with the Nigerian National Petroleum Company Limited, (NNPCL) franchise for cheaper deals. IPMAN’s spokesperson, Chinedu Ukadike, made this known on Tuesday. The development is not unconnected to the marketer’s search for deals that offer better return on investment amid the ongoing price war between the State-owned oil firm and the Ɗangote Refinery. It is gathered that filling stations in Lagos, specifically located around Wawa on the Lagos-Ibadan Expressway, as well as at Ibafo, still along…

Petrol: Ɗangote Refinery raises price to ₦955/litre

January 18, 2025January 18, 2025 Aminu Imam

…As crude oil hits $82/barrel The Ɗangote Petroleum Refinery has announced a hike in the price of Premium Motor Spirit (PMS), a.k.a petrol, citing the rising cost of crude oil in the global market. The new pricing structure, released in a statement yesterday, sets the bulk purchase price of Premium Motor Spirit (PMS) at ₦955 per litre for buyers purchasing between 2 million and 4.99 million litres, while those buying 5 million litres or more will pay ₦950 per litre. This adjustment marks a 6.17% increase, equivalent to ₦55.5 per…

‘Ɗangote Refinery production pushing EU refineries out of business’ – OPEC

January 17, 2025January 17, 2025 Aminu Imam

The Organisation of Petroleum Exporting Countries, (OPEC), says the Ɗangote Refinery is affecting European markets, noting that importation of petroleum products in Nigerian has dropped reasonably. OPEC, in a report issued on Wednesday, disclosed that in the last quarter of 2024, “imports also declined, particularly oil product imports, improving the outlook for the external sector”. Recall that in September last year, Ɗangote Refinery, a $20 billion project spearheaded by billionaire Aliko Ɗangote, officially begun petrol production, marking a significant milestone in Nigeria’s energy sector. Announcing the feat, Ɗangote said: “This…