Tag: DANGOTE

“Naira could hit ₦1,100 to $1 in 2026′ – Ɗangote

Aminu Imam
Dangote on Naira

Chairman of the Ɗangote Group, Aliko Ɗangote, has predicted a significant strengthening of the naira, saying the currency could reach 1,100 to a dollar this year. Dangote made the remarks on Tuesday during the launch of the Nigeria Industrial Policy in Abuja, an event attended by Vice-President Kashim Shettima and other dignitaries. While the Naira currently trades around ₦1,300 to a dollar, Dangote said government reforms signal better days ahead. “I mean, today, if you look at it, Your Excellency, I believe with the policies that you have implemented in…

Read More

“We’ve sunk ₦2tr in trucks; no one can tell us to park” – Ɗangote

Aminu Imam
Dangote on trucks

Africa’s richest man, Aliko Ɗangote, has responded to the recent dispute between his company and the oil workers’ union, NUPENG, over his newly purchased trucks meant to move fuel from his refinery to filling stations across Nigeria. Recall that the union had raised concerns that the new development could put many of their drivers out of work. But Ɗangote dismissed those fears, insisting that no one is losing their jobs because of the trucks. In a video which was circulated on social media at the weekend,h e explained that his…

Read More

Marketers reduce petrol prices below Ɗangote, NNPCL rates

Aminu Imam
Marketers reduce

Petrol marketers have reduced their pump prices to levels below what is being offered by the Ɗangote Petroleum Refinery and the Nigerian National Petroleum Company Limited, (NNPCL). This move has triggered deel competition in the fuel market, even as Ɗangote continues to urge the Federal Government to ban fuel importation to protect local refining. For instance, SGR station in Ogun offered petrol at ₦847 on Tuesday. Meanwhile, stations associated with Ɗangote, such as MRS and Heyden, sell between ₦865 and ₦875 per litre. Depot prices have also dropped, with some…

Read More

“Int’l oil traders plotting to cripple refineries in W/Africa” – Ɗangote

Aminu Imam
Ɗangote on oil traders

President/Chief Executive of Ɗangote Industries Limited, Aliko Ɗangote, has said international traders are deliberately frustrating the establishment of new refineries and the efficient operation of existing ones in Africa, to protect their own interests. Ɗangote made these remarks as a keynote speaker at the ‘West African Refined Fuel Conference’ in Abuja, organised by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and S&P Global Commodity Insights. According to Ɗangote, international traders maintain the offshore Lomé floating market, where over one million tonnes of petroleum products are stored in vessels…

Read More

Ɗangote  to build Nigeria’s biggest seaport in Ogun State 

Aminu Imam
Dangote to build

Africa’s richest man Aliko Ɗangote has filed paperwork to begin construction of a Deep seaport near his fertilizer and oil refinery plants, to make it easier to export goods — including liquefied natural gas (LNG) — and support the rapid growth of his industrial empire, according to Bloomberg. Ɗangote, in an interview, said he plans ‘to build the biggest, deepest port in Nigeria’ took wings after he sent-in the paperwork for permission in late June. The proposed Atlantic seaport in Olokola, Ogun state lies about 100 kilometers by road from…

Read More

Ɗangote in court, seeks revocation of NNPCL, others’ import licenses 

Aminu Imam
20250119 164100

…As NMDPRA defends decision The Nigeria Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), has defended its decision to issue petroleum import licenses to various oil marketers, citing the need to bridge shortfalls in national supply.  This defense was presented before Justice Inyang Ekwo, of the Federal High Court, Abuja, in response to a suit filed by Ɗangote Petroleum Refinery and Petrochemicals FZE. In a counter-affidavit submitted by a Senior Regulatory Officer at NMDPRA, Idris Musa, the Authority argued that the Ɗangote Refinery’s current production levels are insufficient to meet Nigeria’s…

Read More

?angotes wealth doubles to $28bn, as refinery begins production – Report

Aminu Imam
Dangote diesel

Africas richest man, Aliko ?angote, has seen his wealth more than double to $27.8 billion following the long-awaited opening of his Nigerian oil refinery, according to the Bloomberg Billionaires Index. The ?angote Refinery in Lagos is the biggest single-train oil refinery in the world and one of the most complex, capable of processing most global crude types. It has the potential to transform Nigerias economy by making the country self-reliant for fuel. The 67-year-old Nigerian industrialist now leads one of Africas most ambitious private enterprises: a refinery poised to transform…

Read More

?angote to start crude production soon – Report

Aminu Imam
?angote on crude production

Amid feedstock challenges, the ?angote Group, owners of the ?angote Refinery, will soon commence crude oil production. According to reports by S&P Global Commodity Insights, the ?angote Group is looking to start production at its two Nigerian oil assets in the fourth quarter of 2024. According to the report, the company, which has endured months of crude supply woes, would reportedly commence production at its two Niger-Delta upstream projects in Oil Mining Leases (OML) 71 and 72, starting with about 20,000 barrels per day before ramping up further in the…

Read More

FEC directs sale of crude oil to ?angote Refinery in Naira

Aminu Imam
FEC directs crude sales

President Bola Tinubu has proposed the Nigerian National Petroleum Company Limited (NNPCL), sell crude oil to Dangote Petroleum Refinery and other refineries in the local currency, the Naira. According to the Special Adviser on Information and Strategy to the President, Bayo Onanuga yesterday, the proposal was adopted by the Federal Executive Council, (FEC). He said, To ensure the stability of the pump price of refined fuel and the dollar-Naira exchange rate, the Federal Executive Council yesterday adopted a proposal by President Tinubu to sell crude to ?angote Refinery and other…

Read More

“Why I dont own houses outside Nigeria” ?angote

Aminu Imam
Aliko Dangote

Africas richest man, Alhaji Aliko ?angote, has explained that his passion for an industrialized Nigeria is the sole reason he doesnt have houses outside Nigeria. Speaking during a media parley at the ?angote Petroleum Refinery, Ibeju-Lekki area of Lagos State, ?angote revealed that he once had a London house, which he sold in 1996. He added that the reason he doesn’t have a London or America house is solely because he wanted to focus on industrialization in Nigeria,as well as using his companies to provide a job opportunity for the…

Read More