Tag: Dangote

  • Dangote commends Tinubu for impact of crude-for-Naira swap deal

    Dangote commends Tinubu for impact of crude-for-Naira swap deal

    Aliko Dangote, President of Dangote Industries Limited, has lauded President Bola Ahmed Tinubu for the positive impact of the crude-for-naira swap deal on Nigeria’s economy, which has led to a reduction in petroleum product prices nationwide.

    In a move aimed at further easing the financial burden on Nigerians, Dangote announced a price cut for Premium Motor Spirit (PMS) from N970 to N899.50 at the Dangote Refinery loading gantry, while also offering favorable credit terms to marketers.

     “To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre,” he said. 

    The revised price is already effective in Lagos and will be implemented across the country starting Monday. 

    Dangote further called on other oil marketers, including NNPC Retail, to collaborate in ensuring Nigerians benefit from affordable, high-quality petroleum products. “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high-quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.” 

    The Nation reported that the Federal Executive Council (FEC), led by President Tinubu, approved the crude-for-naira swap in September, enabling local refineries to purchase crude oil in naira and sell petroleum products locally in naira. The initiative, which began on October 1, has helped stabilize the naira and reduce pressure on the dollar. 

    Dangote also expressed gratitude to Nigerians for their continued support and commended the government for fostering an environment conducive to the growth of the domestic refining industry.

  • Dangote cuts petrol by N70.50

    Dangote cuts petrol by N70.50

    For the second time in a month, Dangote Refinery yesterday announced N70.50 cut in the ex-depot price of petrol per litre.

    The reduction, which it said was for the festive period,   brought the pump price from N970 to N899.50k

    On November 24, the Refinery slashed its September 12 rollout price of 990 per litre by N20.

    The Refinery said the gesture was to provide the much-needed relief for Nigerians and ease transportation costs ahead and during the Yuletide.

    In a statement issued by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, the company also introduced a special offer to further benefit consumers.

    In addition to the holiday discount, Dangote Petroleum Refinery is allowing consumers to purchase an additional litre of fuel on credit for every litre bought on a cash basis.

    The statement reads: “To alleviate transportation costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.

    Read Also: NLC demands suspension of tax reform bills for broader consultation

    “Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”

    The refinery also expressed its gratitude to Nigerians for their continued support and patronage.

    Chiejina further emphasised the refinery’s commitment to ensuring Nigerians have access to premium quality petroleum products that are competitively priced, as well as environmentally and engine-friendly.

    He highlighted that the refinery’s operations mark the end of Nigeria being a dumping ground for substandard and ‘blended’ imported products, which have posed significant risks to human health, machinery, and the environment.

    The Dangote Refinery, with production capacity for 650,000 barrels per day (BPD), is the largest single-train refinery in the world.

    It has capacity to meeting 100 per cent of Nigeria’s refined petroleum product requirements, with a surplus available for export.

  • Afenifere Youths hail Dangote Group for festive fuel price reduction

    Afenifere Youths hail Dangote Group for festive fuel price reduction

    The Afenifere Progressive Youth Movement (APYM) has praised the Dangote Group for its decision to lower fuel prices during the festive season, describing it as a significant relief for Nigerians.

    Aare Oluwarotimi Dare, the Worldwide President of APYM, commended the group’s move to slash petrol prices to N899.50 per litre, calling it a “heartwarming gift” that eases economic pressures on citizens.

    Dare lauded the Dangote Group’s leadership for its dedication to Nigeria’s economic growth, highlighting the gesture as a remarkable example of corporate social responsibility and patriotism.

    He further noted that the decision aligns with President Bola Tinubu’s economic vision for the nation, offering much-needed support to Nigerians as the country gears up for 2025.

    He noted that the company’s dedication to supporting the government’s economic policy thrust is a demonstration of its willingness to collaborate and contribute to the country’s economic growth.

    The Afenifere Progressive Youth Movement also applauded the Dangote Petroleum Refinery’s innovative approach to making fuel more accessible to Nigerians.

    Dare said the offer of an additional litre of fuel on credit for every litre bought on a cash basis is a masterstroke that will undoubtedly alleviate the financial burden on many citizens.

    Furthermore, the group acknowledged the Dangote Petroleum Refinery’s commitment to providing premium-quality petroleum products that are competitively priced, environmentally friendly, and engine-friendly.

    Dare noted that the refinery’s operations have marked the end of Nigeria’s reliance on substandard imported products which have posed significant risks to human health, machinery, and the environment.

    “The Afenifere Progressive Youth Movement also acknowledges the Dangote Petroleum Refinery’s commitment to providing premium-quality petroleum products that are competitively priced, environmentally friendly, and engine-friendly.

    Read Also: August 1: No protest will hold in southwest, Afenifere youths vow

    “The refinery’s operations have marked the end of Nigeria’s reliance on substandard imported products, which have posed significant risks to human health, machinery, and the environment.

    “We acknowledge the Dangote Group’s pivotal role in shaping Nigeria’s economic landscape. The company’s investments in critical sectors such as petroleum refining, agriculture, and infrastructure have created thousands of jobs, stimulated economic growth, and enhanced the nation’s competitiveness.

    “As Nigeria prepares to usher in a new year, the Afenifere Progressive Youth Movement urges other corporate organisations to take a cue from the Dangote Group’s exemplary leadership. By working together, we can build a more prosperous, equitable, and just society for all Nigerians.

    “In conclusion, the Afenifere Progressive Youth Movement salutes the Dangote Group for its outstanding contributions to Nigeria’s economic development and its people. May this gesture inspire others to follow in their footsteps, and may Nigeria continue to thrive under the leadership of visionary entrepreneurs like Aliko Dangote.”

  • Yuletide: Dangote refinery slashes petrol price to N899.50

    Yuletide: Dangote refinery slashes petrol price to N899.50

    In a bid to offer Nigerians some relief as the holiday season approaches, Dangote Refinery has announced a reduction in the price of Premium Motor Spirit to N899.50 per litre.

    This was contained in a statement issued by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, on Thursday.

    The latest reduction aims to ease transportation costs during the festive period, a time when Nigerians often face increased travel expenses.

    Announcing the special purchase offer, Chiejina said consumers can now buy an additional litre of fuel on credit for every litre purchased in cash, provided they secure a bank guarantee from Access Bank, First Bank, or Zenith Bank.

    “To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.

    Read Also: Dangote calls for renewed action against malaria 

    “Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” Chiejina said.

    The refinery thanked Nigerians for their continued patronage and reiterated its commitment to supplying high-quality, environmentally friendly petroleum products at competitive prices.

    Chiejina emphasised that the Dangote Refinery is ending Nigeria’s dependence on substandard and blended imported petroleum products, which have historically harmed human health, machinery, and the environment.

  • Dangote reduces PMS price to N899.50k for Yuletide

    Dangote reduces PMS price to N899.50k for Yuletide

    Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to below N900 per litre to provide much-needed relief for Nigerians ahead of the holiday season.

    The refinery, which previously lowered the price to N970 per litre on November 24, announced a new price of N899.50 per litre. This reduction is designed to ease transport costs during the festive period.

    In a statement by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, the company also introduced a special offer to further benefit consumers. 

    In addition to the holiday discount, Dangote Petroleum Refinery is allowing consumers to purchase an additional litre of fuel on credit for every litre bought on a cash basis.

    “To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM. 

    Read Also: Dangote calls for renewed action against malaria

    “Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” Chiejina said. 

    The refinery also expressed gratitude to Nigerians for their continued support as the country enters the festive season.

    Chiejina further emphasised the refinery’s commitment to ensuring Nigerians have access to premium quality petroleum products that are competitively priced, as well as environmentally and engine friendly. 

    He highlighted that the refinery’s operations mark the end of Nigeria being a dumping ground for substandard and ‘blended’ imported products, which have posed significant risks to human health, machinery, and the environment.

    The Dangote Refinery, with a capacity of 650,000 barrels per day (BPD), is the largest single-train refinery in the world. It is fully capable of meeting 100% of Nigeria’s refined petroleum product requirements, with a surplus available for export.

  • Dangote calls for renewed action against malaria

    Dangote calls for renewed action against malaria

    Chairman of the Nigeria End Malaria Council, Aliko Dangote, has called for renewed efforts toward malaria elimination in Nigeria while commending the World Health Organization (WHO) for releasing the World Malaria Report 2024, which highlights global progress and ongoing challenges in malaria control.

    Dangote, on behalf of the Council in a statement on Friday, expressed particular optimism about Nigeria’s achievement in reducing its malaria burden from 27% in 2022 to 26% in 2023, calling it a crucial step toward the goal of malaria elimination by 2030.

    He urged renewed commitment from all Nigerians, encouraging healthcare workers, policymakers, and citizens to intensify efforts in prevention, improving healthcare access, and advocating for transformative policies.

    He said: “This comprehensive report serves as an invaluable tool in our ongoing global efforts to fight malaria and underscores the progress that has been made, as well as the challenges that lie ahead.

    “As we continue to make strides in the fight against malaria, it is crucial that we remain committed to ending this deadly disease by 2030.

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    “Every step we take today, whether it’s using long lasting insecticide-treated nets, improved testing and diagnostics, seeking prompt medical care, or spreading awareness brings us closer to a malaria-free future for all.

    “Malaria has long been a challenge in our country, but with unity, determination, and collective effort, we can overcome it.

    “The recent reduction in malaria burden is a testament to the hard work and dedication of all Nigerians, but we must not relent or relax here”.

    Encouraged by progress recorded by Nigeria, as shown by the report, Dangote urged doubling of efforts by all critical stakeholders, saying, “Our goal is clear: to eliminate malaria by 2030.

  • Dangote calls for renewed action against malaria 

    Dangote calls for renewed action against malaria 

    Aliko Dangote, Chairman of the Nigeria End Malaria Council, has urged intensified efforts to eradicate malaria in Nigeria while applauding the World Health Organization (WHO) for publishing the 2024 World Malaria Report, which outlines global progress and persistent challenges in malaria control.

    In a statement on Friday, Dangote on behalf of the council, expressed optimism over Nigeria’s progress in reducing its malaria burden from 27% in 2022 to 26% in 2023. 

    He described the milestone as a significant step toward achieving the goal of eliminating malaria by 2030.

    He urged renewed commitment from all Nigerians, encouraging healthcare workers, policymakers, and citizens to intensify efforts in prevention, improving healthcare access, and advocating for transformative policies.

    He said: “This comprehensive report serves as an invaluable tool in our ongoing global efforts to fight malaria and underscores the progress that has been made, as well as the challenges that lie ahead.

    “As we continue to make strides in the fight against malaria, it is crucial that we remain committed to ending this deadly disease by 2030. 

    “Every step we take today, whether it’s using long lasting insecticide-treated nets, improved testing and diagnostics, seeking prompt medical care, or spreading awareness brings us closer to a malaria-free future for all.

    “Malaria has long been a challenge in our country, but with unity, determination, and collective effort, we can overcome it. 

    “The recent reduction in malaria burden is a testament to the hard work and dedication of all Nigerians, but we must not relent or relax here”. 

    Read Also: Dangote Refinery, Neptune oil export PMS to Cameroon

    Encouraged by progress recorded by Nigeria, as shown by the report, Dangote urged doubling of efforts by all critical stakeholders, saying, “Our goal is clear: to eliminate malaria by 2030.

    “According to the World Malaria Report 2024, Nigeria has successfully reduced its malaria disease burden from 27% in 2022 to 26% in 2023. 

    “This is an impressive number of people affected by malaria, and a remarkable achievement in public health.  

    “This reduction, though seemingly modest, represents a major step toward our ultimate goal. It reflects the dedication, hard work, and collaboration of healthcare workers, policymakers, and communities across the nation. 

    “I therefore urge every one of us to renew our commitment, whether you’re a healthcare worker, a community leader, or a citizen. 

    “By continuing to take preventive measures, supporting efforts to provide better healthcare, and advocating for policies that drive change, we can achieve a malaria-free Nigeria and world. Together, we can make history”.

  • Dangote, marketers seal deal to avert fuel scarcity at yuletide

    Dangote, marketers seal deal to avert fuel scarcity at yuletide

    Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) says it has finalised an agreement with Dangote Refinery for the supply of Premium Motor Spirit (PMS) for the upcoming Christmas and New Year celebrations.

    Dr Joseph Obele, National PRO, PETROAN made this known in a statement yesterday.

    Obele said the National President of PETROAN, Dr Billy Hary, on Dec. 2, 2024, led the negotiation team of PETROAN to a fruitful strategic business meeting with the management of Dangote Refinery at the complex in Lagos.

    Read Also: Dangote Group, subsidiaries shine at NECA’s 2024 Visible Impact Awards

    He said the deal sealed with Dangote Refinery was the aftermath of a successful buyer-seller negotiation and agreement secured by PETROAN at the strategic meeting.

    He expressed confidence that the measures put in place by PETROAN, following the Port Harcourt refinery’s production and agreement with the Dangote Refinery, will avert fuel supply shortage during the Yuletide.

  • Dangote Group, subsidiaries shine at NECA’s 2024 Visible Impact Awards

    Dangote Group, subsidiaries shine at NECA’s 2024 Visible Impact Awards

    IPan-African conglomerate, Dangote Industries Limited (DIL) and its subsidiaries, Dangote Cement Plc and Dangote Refinery and Petrochemicals stole the show at the weekend in Lagos when they carted away excellence awards bestowed by the private sector employers’ body, Nigeria Employers Consultative Association (NECA) during its 2024 annual night of recognitions.

    Dangote Group was recognised under the Visible Impact Award for Resilience & Entrepreneurship; Dangote Cement won the Sectoral Excellence Award in the Chemical and Non-Metallic Products category, while the 650,000bpd capacity world’s largest single train refinery, Dangote Refinery won the Groundbreaking Investment award.

    Basking in the euphoria of the recognitions, Dangote Industries Limited’s Vice-President, Oil and Gas, Mr. Devakumar Edwin, described the awards as reflecting the values of Dangote Group and its subsidiaries as top employers of labour showing resilience in the face of tough business operating environment.

    He said the awards will spur the management of Dangote to continue in the trajectory of the fine best global best practices in business, with more investments in the task of rejuvenating the nation’s economy. 

    Also, Minister of Industry, Trade and Investments, Dr. Jumoke Oduwole and her counterpart in Aviation and Aerospace Development, Mr. Festus Keyamo (SAN) were recipients of the “Visible Impact in Public Service Award.”

    This year’s awards, dubbed “Defying the odds”, NECA said, is geared towards promoting and encouraging best practices in Corporate Performance, People Management and Industrial Relations practices amongst employers in Nigeria.

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    This, it explained, is in a bid to celebrate outstanding contributions of enterprise to national development, noting that the award provided a platform for celebrating the resilience, doggedness and outstanding performance of employers in Nigeria.

    In his welcome address, President of NECA, Dr. Ifeanyi Eric Okoye, noted that the award ceremony was to celebrate the excellence, resilience, innovation and unwavering commitment demonstrated by businesses across the various sectors of the Nigerian economy in 2024.

    He said the Awards’ theme, “Defying the Odds,” reflected the indomitable spirit of the Nigerian enterprises that had consistently risen to the challenges posed by the dynamic and demanding local and global economic landscape.

    Said he, “This annual ceremony is a testament to remarkable progress made by organisations that share our vision of a thriving private sector as the bedrock of national development. Over the years, the NECA’s Excellence Award has become a hallmark of prestige highlighting organisations that exemplify best practices in corporate governance, industrial relations and environmental sustainability.

     “Our honours tonight do not only serve as a beacon of hope, and a reminder that in the face of adversities excellence is achievable, it is also an opportunity to increase visibility by highlighting their achievements and innovations to a wider audience.

     “As we celebrate tonight, let us not only celebrate the achievements of the award recipients; let also celebrate all businesses here present and those that have left in the past few years and recommit ourselves to fostering innovation, inclusivity and resilience in all that we do. Together we can build a future where Nigerian enterprises thrive as global leaders.”

    Also speaking, the Director General of NECA, Mr. Adewale-Smatt Oyerinde, explained that the awards were a statement that, irrespective of the challenges the private sector employers have been facing “since January till now, there is time for all of us to sit down and just breathe and celebrate the resilience, doggedness, innovations your businesses were able to bring on-board and their contributions to national development”.

    Oyerinde stated further: “So, we are gathered this evening to celebrate your businesses, contribution and support to NECA. We have broken away from the traditional issues of labour and employment that you know us with and are now dealing with all fundamental issues that affect your businesses either now or in the future like Environmental, Social and Governance in sustainability issues.

     “We are also deepening our collaboration with CIPE moving into the realms of ethics with emphasis on doing business correctly. We are also deepening our engagements with the International Labour Organisation (ILO) in the context of responsible business conduct for our members to operate responsibly within the context of the law.

     “This strengthens our hands to advocate against unfavourable business regulations that see businesses as cash cows rather than agents of national development.”

    Lagos State Governor, Mr. Babajide Sanwo-Olu, who was represented by Head of Service, Lagos State, Mr. Shuaheeb Agoro, commended NECA for its remarkable legacy of championing enterprise, competitiveness, responsible business practices and industrial harmony describing the award as another remarkable way of motivating employers in the private sector.

    Sanwo-Olu said, “This year’s theme could not to be more apt as it speaks to the determination that Nigerian employers have continued to demonstrate in overcoming challenges to sustain businesses, create jobs and drive national development. This resilience is a reflection of enduring entrepreneurial spirit that defines our great nation.”

    The governor pointed out that the award inspires the culture of   best practices in corporate governance, industrial relations, environmental sustainability and responsible business conduct.”

  • Dangote guarantees supply of 28,000 l/d of petrol in six months

    Dangote guarantees supply of 28,000 l/d of petrol in six months

    Dangote Refinery and Petrochemicals has guaranteed the supply of 28,000 litres per day of the Premium Motor Spirit (PMS) petrol to the Nigeria’s domestic market.

    This was part of the resolutions on the absorption of Domestic Petroleum Product production by the Nigerian Oil Marketing Companies (OMCs), including the Nigerian National Petroleum Company Limited (NNPCL), Major Energy Marketers Association of Nigeria (MEMAN), and Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) meeting.

    This was contained in the resolutions signed by Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), NNPCL,

    MEMAN, DAPPMAN, EDO Refinery

    Dangote Refinery, Waltersmith Refinery,

    Aradel Refinery, IPMAN, and PETROAN that was released to The Nation in Abuja yesterday.

    The parties said: “The resolution includes Dangote Refinery guaranteeing to sell an average of 28,000,000 litres of PMS daily for the next six months to oil marketers for domestic consumption in the Nigerian market.”

    The engagement also resolved that there shall be availability of Aviation Turbine Kerosene (ATK) and  Automotive Gas Oil (AGO) from all domestic refineries shall be provided to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for same period and be subject of consideration for import as may be required.

    Read Also: Nigeria’s local currency crude sales fall short of target, Dangote refinery says

    The parties also  resolved NMDPRA to establish basis for allocating import volumes to OMCs on the assumptions of the aggregate of domestic refinery capacity with understanding to cover shortfalls for respective marketers based on validated needs by company and current national depots evacuation.

    According to the document, the domestic refineries are to provide fixed quantities and delivery windows two months preceding the month of delivery (M-2) to the customer and NMDPRA. 

    It also said individual OMCs to enter direct commercial agreements with 

    domestic refineries on a willing buyer willing seller basis.

    The also resolved that all NMDPRA fees (including MDGIF) to be included in every sales invoice issued by domestic refineries.