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Tag: Dangote

  • BREAKING: Ghana President, Dangote, Bayero, Owa Obokun, others storm Osun for chieftaincy installation

    BREAKING: Ghana President, Dangote, Bayero, Owa Obokun, others storm Osun for chieftaincy installation

    President of Ghana, John Mahama, business mogul Aliko Dangote and several prominent traditional rulers on Monday arrived in Ile-Ife, Osun State, for the installation of Mahama as the Aare Atayeto Oodua.

    Among the dignitaries present were the Emir of Kano, Ado Bayero; the Owa Obokun of Ijesaland, Oba Clement Haastrup; the Olofa of Offa, Oba Mufutau Oloyede Esuwoye; as well as other royal fathers and industry leaders.

    Also, in attendance was former President of Botswana, Mokgweetsi Eric Keabetswe Masisi, alongside monarchs from Ghana and other invited guests.

    The installation ceremony took place at the palace square in Ile-Ife amid fanfare, with heavy security deployed at the venue due to the presence of many high-profile personalities.

    Mahama arrived at the ceremony around 1:30pm in a royal automobile-powered chariot.

    Speaking at the event, the Ooni of Ife, Oba Adeyeye Ogunwusi, described Mahama as a reformer, noting his leadership qualities and contributions to governance in Africa.

    Details shortly….

  • Dangote locks horns with NMDPRA

    Dangote locks horns with NMDPRA

    • Industrialist seeks probe of agency
    • Petrol to sell for N740 from tomorrow

    Dangote Refinery and Petrochemicals yesterday accused the regulating agency of downstream sector of undermining its refinery.

    He accused Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of economic sabotage and urged the government to probe its activities.

    President of the Dangote Refinery, Alhaji Aliko Dangote, who spoke in Lagos yesterday at a news conference urged the government to also probe NMDPRA Chief Executive Officer (CEO), Farouk Ahmed.

    He accused NMDPRA leadership of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products.

    Alleging that Ahmed had been living above his means, Dangote said the bills being picked by the NMDPRA boss  raised serious questions about potential conflicts of interest and the integrity of regulatory oversight in the downstream petroleum sector.

    He assured of further fall in the pump price of petrol. He said the product would sell at no more than N740 per litre from tomorrow in Lagos, because of his refinery’s reduction of gantry price to N699 per litre.

    He said MRS filling stations would be the first to reflect the new pricing.

    Expressing concern over the state of the downstream sector, Dangote said Nigeria’s continued reliance on fuel imports was harming local production and discouraging investment in domestic refining.

    He said import licences covering approximately 7.5 billion litres of PMS had reportedly been issued for the first quarter of 2026, despite the availability of significant domestic refining capacity.

    According to him, modular refineries are already struggling under the current policy environment and on the brink of extinction, while the persistent issuance of import permits further weakens the sector.

    Read Also: Tunji-Ojo: Nigeria’s future depends on unity, national renewal

    Dangote said: “I am not calling for his removal, but for a proper investigation. He should be required to account for his actions and demonstrate that he has not compromised his position to the detriment of Nigerians. What is happening amounts to economic sabotage.”

    The business mogul said: “The Code of Conduct Bureau (CCB), or any other body deemed appropriate by the government, can investigate him.

    He described the downstream petroleum sector as being under severe strain, alleging the presence of entrenched interests that profit from fuel imports at the expense of national development.

    “There are powerful interests in the oil sector. It is troubling that African countries continue to import refined products despite long-standing calls for value addition and domestic refining. The volume of imports being allowed into the country is unethical and does a disservice to Nigeria,” he added.

    Dangote stressed the need for a clear separation between regulatory oversight and commercial interests, warning that allowing traders to influence regulation would undermine the integrity of the sector.

    “The downstream sector must not be destroyed by personal interests. A trader should never be a regulator. Forty-seven licences have been issued, yet no new refineries are being built because the environment is not conducive,” he said.

    He maintained that Nigerians would ultimately benefit from local refining, fuel importers incur losses. Dangote said he would not relent in ensuring that Nigerians enjoy the benefits of domestic refining, noting that the company was working around the clock to ensure that recent reductions in the gantry price were fully reflected at the retail level.

    “From Tuesday (tomorrow)”, he said, “all MRS filling stations would begin selling PMS at prices not exceeding N740 per litre, starting in Lagos.”

    He added that the refinery had reduced its minimum purchase requirement from two million litres to 500,000 litres to enable more marketers, including members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), to participate.

    “So, if you come to the refinery today, you will get PMS at N699 per litre,” he said.

    Dangote explained that despite frustration and sabotage, the refinery would deploy its Compressed Natural Gas (CNG) trucks in the coming days and was prepared to procure additional units beyond the initial 4,000 if required to sustain affordable pricing nationwide.

    Responding to complaints from oil importers that the recent price reduction would result in losses, Dangote said the refinery was established primarily for the benefit of Nigerians.

    “Anyone who chooses to continue importing despite the availability of locally refined products should be prepared to face the consequences,” he said.

    He also highlighted quality differences, noting that products supplied through MRS and other off-takers from the refinery were straight-run fuels, unlike blended products imported from overseas markets.

    “Nigerians have a choice to buy better quality fuel at a more affordable price or to buy blended PMS at a higher rate. Importers can continue to lose, so long as Nigerians benefit,” he added.

    Dangote said the refinery was driven more by legacy than profit, noting that he could have invested the 20 billion dollars elsewhere if financial gain were his sole objective.

    He reaffirmed the plan to list the refinery on the Nigerian Exchange to allow Nigerians to own shares in the facility.

    “We want every living Nigerian to have the opportunity to benefit, no matter how small their holding. If the market takes 55 per cent and I retain 45 per cent, I am satisfied,” he said.

    Dangote explained that discussions were ongoing with the Securities and Exchange Commission (SEC) to enable Nigerians to purchase shares in naira while receiving dividends in dollars.

    Dangote accused the NMDPRA of misrepresenting the refinery’s capacity by publishing off-take figures rather than actual production levels.

    “We have the capacity to meet local demand, and we have sufficient refined products in stock. But to keep prices high, imports are deliberately encouraged,” he said, adding that attempts were being made to push the refinery into exporting products only for them to be re-imported into Nigeria at higher prices.

    “This refinery is for Nigerians first, and I am not giving up,” he said.

    Dangote also explained that the refinery imports an average of 100 million barrels of crude oil annually from the United States, a figure expected to rise to 200 million barrels following expansion, due to insufficient domestic crude supply.

    He added that the refinery also sources crude from Ghana and other countries, while exporting jet fuel and gasoline to the United States (U.S.).

    Dangote further alleged that domestic refiners are forced to buy Nigerian crude at premiums of up to four dollars per barrel from the trading arms of international oil companies, placing them at a competitive disadvantage.

    He called on the government to ensure crude oil taxes are assessed based on actual transaction values, warning that the current system allows under-declaration and revenue losses.

  • Dangote gets honorary doctorate

    Dangote gets honorary doctorate

    Aliko Dangote, the Chairman of the Aliko Dangote Foundation and President/Chief Executive of Dangote Industries Limited, has proven beyond doubt that he is an uncommon philanthropist. The 68-year-old Kano-born billionaire was recently honoured with a doctorate by the Federal University of Technology, Owerri (FUTO).

    Dangote’s honorary Doctoral Degree in Management Technology (D.M.T. Honoris Causa) is being conferred in recognition of his transformative contributions to Nigeria’s industrial sector, youth, and business.

    To many, the honour didn’t come as a surprise because over the years, Africa’s most influential industrialist has supported humane causes and distinguished himself from the long list of billionaires scattered across Nigeria.

    Read Also: Groups fault US delegation’s one-sided visit to Nigeria, decry exclusion of Muslim voices

    The soft-spoken and humble-looking Dangote expressed his sincere gratitude to the Council, Senate, and Management of the Federal University of Technology, Owerri, for the honour, adding that the gesture has strengthened his resolve to continue investing in the nation’s growth, supporting education, and championing initiatives that build a more prosperous and self-reliant Africa.

    From joining hands with Bill and Melinda Gates Foundation to eradicate polio in Nigeria, a N15 billion donation to a university, N1.2 billion hostel donation to another university, to distribution of 30,000 bags of rice, lighting up a community in dark for many years and impacting majorly on humanity, Dangote has etched his name on the world map both as billionaire and a philanthropist.

    Little wonder the Kano-born billionaire was named in the inaugural 2025 TIME100 Philanthropy list, which recognises the 100 most influential leaders shaping the future of philanthropy across the world.

  • Dangote slashes ex-depot petrol price from N828 to N699/litre

    Dangote slashes ex-depot petrol price from N828 to N699/litre

    The Dangote Petroleum Refinery on Thursday reduced the ex-gantry price of Premium Motor Spirit (petrol) to N699 per litre, representing a N129 cut from the previous price of N828.

    Sources within the refinery confirmed the adjustment, noting that the new price brings petrol closer to its ex-depot value from about two years ago.

    “The refinery reduced its petrol price to N699 per litre,” one source said.

    Read Also: Tinubu unveils new security, economic blueprint to harness Nigeria’s marine wealth

    The price slash was reportedly introduced to help ease transportation costs ahead of the Christmas season, a period when millions of Nigerians embark on interstate travel to reunite with their families.

    With the refinery expanding its distribution network nationwide, independent marketers are now able to purchase directly, enabling faster pricing adjustments and wider market penetration. The refinery considers the latest reduction both an economic intervention and a social initiative aimed at cushioning the financial burden on citizens.

  • Dangote pledges stable fuel supply at Christmas

    Dangote pledges stable fuel supply at Christmas

    The President of Dangote Group, Alhaji Aliko Dangote, yesterday assured Nigerians that the era of nationwide fuel queues has come to an end, pledging uninterrupted petrol supply during the Christmas season and beyond.

    Speaking to journalists at the State House, Abuja, after a meeting with President Bola Ahmed Tinubu,  Dangote said the refinery has formally notified the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) that it is ready to deliver 50 million litres of Premium Motor Spirit (PMS) daily, far above national consumption.

    “Historically, Nigeria has battled fuel queues since 1972. For the first time, we are eliminating those queues, not through imports but by producing locally. Even when we were servicing the refinery, there were no queues. I can assure you that queues are now history,” he said.

    Dangote stated that the refinery will soon produce surplus volumes, adding that by February, it will supply 15–20 million litres more than Nigeria needs.

    This, he said, will allow exports to neighbouring countries, reducing the incidence of fuel scarcity across West Africa.

    He also disclosed that domestic manufacturers, especially in the plastics industry, will now enjoy reliable access to locally produced feedstock, ending years of reliance on imports estimated at $400 million annually.

    Looking ahead, Dangote announced an expansion programme that will raise refinery capacity to 1.4 million barrels per day by 2028, surpassing India’s Reliance refinery, the world’s largest, at 1.25 million barrels per day.

    READ ALSO: FULL LIST: 2026 World Cup new entrants

    “We have already signed the necessary agreements. Construction piling begins before the end of January, and we will deliver on schedule,” he said.

    The industrialist also revealed plans to scale up the company’s urea production to 12 million tonnes annually, positioning Nigeria to overtake Russia and Qatar as the world’s leading producer.

    “Our goal is to use our fertilizer company to supply the entire African continent,” he said.

    Commenting on recent declines in petrol and diesel prices, Dangote attributed the trend to increased competition and a reduction in smuggling.

    “Prices are going down because we must compete with imports. Luckily, smuggling has dropped significantly, though not completely,” he explained.

    He stressed that the refinery business is a long-term national investment, saying “we’re not here to recover $20 billion overnight. The legacy I want to leave is that whatever Nigerians need, fuel, fertilizer, power, we will be part of delivering it.”

    Dangote further highlighted logistics constraints affecting Nigeria’s solid minerals sector, particularly the congestion of major ports.

    “Apapa is full. Tin Can is full. Lekki is mainly for containers. You cannot export coal or copper if you have nowhere to ship from,” he noted.

    To address this, he said the Group is developing what would become West Africa’s largest deep-sea port at Olokola, expected to be completed in two to two-and-a-half years.

    He expressed support for the Tinubu administration’s naira-for-crude initiative, describing it as a patriotic move to strengthen the economy, although he acknowledged pushback from international oil companies.

    “It’s a teething problem, but it will be resolved, either through legislation or administrative action,” he said.

    On concerns about global competition, Dangote maintained that the refinery will thrive.

    “What we want is to make Nigeria the refining hub of Africa. All African countries import fuel. We want what we consume to be produced here,” he stated.

    He also endorsed the government’s Nigeria-first industrial policy and urged wealthy Nigerians to channel resources into productive investment rather than luxury spending.

    “If you have money for a private jet, invest in industries and create jobs,” he said, adding that domestic investors must drive industrialisation to attract foreign capital.

    Dangote acknowledged past hurdles, policy instability, smuggling, and factory closures, but expressed optimism that the country is now on a stable path toward sustainable industrial growth.

    “Domestic investors must lead the way. Once they do, foreign investors will follow. Nobody advertises a good restaurant; when the food is good, word spreads,” he said.

    He described his meeting with President Tinubu as a routine consultation on the economy and business environment, noting that it was “a very fruitful meeting.”

  • Dangote assures of stable fuel supply at Christmas

    Dangote assures of stable fuel supply at Christmas

    …unveils plan to build world’s largest refinery by 2028

    The President of Dangote Group, Alhaji Aliko Dangote, on Friday assured Nigerians that the era of nationwide fuel queues has come to an end, pledging uninterrupted petrol supply during the Christmas season and beyond.

    Speaking to journalists at the State House, Abuja, after a meeting with President Bola Ahmed Tinubu, Dangote said the refinery has formally notified the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) that it is ready to deliver 50 million litres of Premium Motor Spirit (PMS) daily, far above national consumption.

    “Historically, Nigeria has battled fuel queues since 1972. For the first time, we are eliminating those queues, not through imports but by producing locally. Even when we were servicing the refinery, there were no queues. I can assure you that queues are now history”, he said.

    Dangote stated that the refinery will soon produce surplus volumes, adding that by February, it will supply 15–20 million litres more than Nigeria needs.

    This, he said, will allow exports to neighbouring countries, reducing the incidence of fuel scarcity across West Africa.

    He also disclosed that domestic manufacturers, especially in the plastics industry, will now enjoy reliable access to locally produced feedstock, ending years of reliance on imports estimated at $400 million annually.

    Looking ahead, Dangote announced an expansion programme that will raise refinery capacity to 1.4 million barrels per day by 2028, surpassing India’s Reliance refinery, the world’s largest, at 1.25 million barrels per day.

    “We have already signed the necessary agreements. Construction piling begins before the end of January, and we will deliver on schedule,” he said.

    The industrialist also revealed plans to scale up the company’s urea production to 12 million tonnes annually, positioning Nigeria to overtake Russia and Qatar as the world’s leading producer.

    “Our goal is to use our fertilizer company to supply the entire African continent,” he said.

    Commenting on recent declines in petrol and diesel prices, Dangote attributed the trend to increased competition and a reduction in smuggling.

    “Prices are going down because we must compete with imports. Luckily, smuggling has dropped significantly, though not completely,” he explained.

    He stressed that the refinery business is a long-term national investment, saying, “we’re not here to recover $20 billion overnight. The legacy I want to leave is that whatever Nigerians need, fuel, fertilizer, power, we will be part of delivering it.”

    Dangote further highlighted logistics constraints affecting Nigeria’s solid minerals sector, particularly the congestion of major ports.

    “Apapa is full. Tin Can is full. Lekki is mainly for containers. You cannot export coal or copper if you have nowhere to ship from,” he noted.

    To address this, he said the Group is developing what would become West Africa’s largest deep-sea port at Olokola, expected to be completed in two to two-and-a-half years.

    He expressed support for the Tinubu administration’s naira-for-crude initiative, describing it as a patriotic move to strengthen the economy, although he acknowledged pushback from international oil companies.

    “It’s a teething problem, but it will be resolved, either through legislation or administrative action,” he said.

    On concerns about global competition, Dangote maintained that the refinery will thrive.

    “What we want is to make Nigeria the refining hub of Africa. All African countries import fuel. We want what we consume to be produced here,” he stated.

    He also endorsed the government’s Nigeria-first industrial policy and urged wealthy Nigerians to channel resources into productive investment rather than luxury spending.

    “If you have money for a private jet, invest in industries and create jobs,” he said, adding that domestic investors must drive industrialization to attract foreign capital.

    Dangote acknowledged past hurdles, policy instability, smuggling, and factory closures, but expressed optimism that the country is now on a stable path toward sustainable industrial growth.

    “Domestic investors must lead the way. Once they do, foreign investors will follow. Nobody advertises a good restaurant; when the food is good, word spreads,” he said.

    He described his meeting with President Tinubu as a routine consultation on the economy and business environment, noting that it was “a very fruitful meeting.”

  • Economic climate now right, say Edun, Dangote, Uzodimma

    Economic climate now right, say Edun, Dangote, Uzodimma

    • Boris Johnson, Ki-Moon, Boakai, others laud Nigeria’s progress

    There was a convergence of opinion by the public and private sectors yesterday on the effect of President Bola Ahmed Tinubu’s reforms on the people and the economic climate.

    Prosperity has been created and the right ecosystem put in place to facilitate investment, they said in Owerri yesterday at the Imo State Economic Summit.

    The event attracted eminent personalities from across the world, who converged on the heartland of the Southeast, for the event organised by Imo State Governor, Hope Uzodimma.

    Among the dignitaries was Vice President Kashim Shettima, who represented President Tinubu.

    Liberian President Joseph Boakai; Prime Minister of Sao Tome and Principe Americo Ramos; former British Prime Minister Boris Johnson; former Secretary-General of United Nations Ban Ki-Moon and former Mauritius President Dr. Ameenah Gurib-Fakim.

    Seventeen governors were present to support Uzodimma, chairman of the Progressives Governors Forum (PGF).

    Ministers, including Wale Edun, Finance and Coordinating Minister of the Economy; Atiku Bagudu, Budget and Economic Planning and Minister of State for Industries, Trade and Investment, Owan Enoh also attended the Summit.

    From the private sector were Alhaji Aliko Dangote, president of Dangote Industies; Ben Oramah, past president of Afrexim Bank; Managing Director of Fidelity Bank, Mrs. Nneka Onyali-Ikpe; Leo Stan Ekeh, Chairman of Zinox Technologies; Isha Sesay; and former CNN anchor, Ernest Nwapa; Dr. ABC Ojiakor; Ogbuagu Ernest Nwapa, Mr. Abdulrasak Isaiah, of Walmart, and Mr. Uzoma Dozie, of Sparkle Micro Finance Bank.

    The Ooni of Ife, Oba Adeyeye Ogunwusi, and Dr. Cletus Ilomuanya, Obi of Obinugwu, were also there.

    Others who attended are All Progressives Congress (APC) National Chairman, Prof. Nentawe Yilwatda, federal and state lawmakers, Deputy Governor, Dr. Chinyere Ekomaru, former Deputy Governors Placid Njoku; and Sir Jude Agbaso, members of Imo State Executive Council, Prof. Maurice Iwu, and former APC Chairman, Alhaji Abdullahi Ganduje.

    President Tinubu’s reforms have created the right investment climate and fostered prosperity, Edun and Uzodimma said.

    Edun, who alluded to the evidence of growth and an expanding fiscal capacity, described the regular power supply to the states as “the real game changer” that would transform the economy.

    Edun said concerted efforts were being made to achieve “seven per cent growth rate annually;” urging the sub-national units to forge a critical partnership with the Federal Government.

    Uzodimma lauded the Federal Government under Tinubu for creating centres of prosperity across the country.

    We target 7 per cent growth annually, says minister

    Edun lauded Uzodimma’s bold vision, noting that he has taken the advantage of President Tinubu’s economic reforms by developing an independent electricity project that will generate 24-hour power supply to the state.

    He described it as “the real game changer” that will transform the economy of Imo State.

    Painting a bright picture of growth, Edun said: “Nigeria’s economy is growing and its fiscal capacity expanding as efforts were being made to achieve seven per cent growth rate annually.”

    Uzodinma said: “We have pursued aggressive, but progressive reforms from which early movers and investors can benefit.

    “The state government has removed bottlenecks that previously made doing business difficult and has interconnected our communities with over 100 new roads.”

    The governor highlighted ongoing infrastructure and energy projects, including the Orashi Power Project, which will soon be operational.

    He also drew attention to the Skill-Up Imo Initiative, which is producing thousands of skilled workers for the economy.

    Read Also: Heartland applauds  Uzodimma for  clearing club’s debts ahead of NNL kick-off

    Uzodimma explained that the economic climate created by President Tinubu’s reforms made it possible for the sub-nationals to initiate developmental projects.

    Uzodimma said land administration in Imo is now fully digitised.

    He said: “The state government has digitised land administration, making it possible for Certificates of Occupancy to be issued within 24 hours.”

    The governor emphasised the investment potential of the Orashi River Dredging Project, as well as the state’s mineral resources and the largest untapped gas deposits in West Africa.

    He said: “Imo State is secure, ready and open for business. When opportunity meets preparation, good business happens. Bring your investments to Imo State now for higher investment returns.”

    Dangote lauded President Tinubu for his bold policies that created the enabling environment for investment and prosperity.

    Dangote described Nigeria as a “scratch card”, which one would scratch to access the potential.

    He spoke of his huge plan to double the capacity of his refinery for 650,000bpd to 1.4mbpd, becoming the world’s largest.

    He announced that his company would also become the largest producer of fertiliser in the world.

    He urged Nigerian businessmen and entrepreneurs to invest in the country.

    He drew attention to the abundant natural resources and potential in Nigeria, assuring the governor of Dangote Group’s partnership with the Imo State government.

    Prof. Oramah highlighted the importance of the Orashi dredging project, emphasising its potential to enhance trade and improve the state’s economic infrastructure.

    He announced the establishment of a multi-billion naira petro-chemical testing plant near the Sam Mbakwe International Cargo Airport.

    He said the project would facilitate the testing of petrochemical products for export, positioning Imo State as a key player in the global petrochemical market.

    Johnson: Nigeria is safe

    Former British Prime Minister Johnson declared that Nigeria is safe and full of promise.

    He added that Nigeria is set for remarkable economic growth.

    He praised the quality of participants and the forward-looking agenda of the summit.

    Johnson said: “It’s fantastic to be in Imo State. The summit has been very successful, judging from the stellar cast of guests. Nigeria has been acclaimed as the next country to witness increased FDIs because of its phenomenal growth potential.”

    The former British leader, who acknowledged concerns about security, expressed satisfaction with what he observed during his visit.

    He said: “I came with all the negative stories of security challenges, but I said I will come anyway.”

    He added: “When I decided to come to Owerri, I read some stuff and some people say there may be some security problems and I said, well I’m gonna go anyway, but we are here today in this conference and we are all feeling safe and secured, and I feel perfectly safe, thank you Governor Hope Uzodimma for what you are doing.

    ‘Nigeria is Africa’s hope’

    Liberian President Boakai, the Prime Minister of Sao Tome and Principe, Americo Ramos and the first female President of Mauritius, Ameenah Gurib-Fakim agreed that Africa is the rising continent of hope; and Nigeria a power hub with talents and vibrant youth population, producing entrepreneurs that will rule the world.

    They called for a stronger partnership to unlock potential of Imo State, Nigeria and Africa.

    The former president of Mauritius promised to bring in potential of renewal energy to the state.

    Ki-Moon: Africa is important to the world

    South Korea’s Ki-moon emphasised Africa’s potential in addressing climate change its unique resources and capabilities that could play a vital role in global environmental solutions.

    He called for the strengthening of global partnerships to foster progress in combating climate change.

    Tinubu: Unity key to progress

    Represented by Shettima, President Tinubu called for national unity, saying a nation’s progress is not driven by isolated success, but by harnessing collective strength and shared responsibility for its economic direction.

    He stressed that a nation’s true ascent is not achieved when only one part prospers while others lag behind.

    The President said every part of the federation must harness its economic potential.

    President Tinubu added: “No nation rises because one corner of its map ascends while others remain dormant; nations rise when they harness their strength and take responsibility for their economic direction.

    “This is the spirit that has animated the economic summits taking place across the country today. It is the conviction that completes the ground picture of national development. This is why I am genuinely excited to share this moment with you today.”

    The President highlighted Imo State’s vast potential.

  • Dangote pushes 50m litres of petrol per day into market

    Dangote pushes 50m litres of petrol per day into market

    • Writes NMDPRA, engages marketers to stabilise fuel market
    • Invites agency for daily output monitoring

    Beginning from today, Dangote Petroleum Refinery will supply 50 million litres of petrol per day into the Nigerian market.

    The decision was taken to ensure that there is no shortage of the product during the festive season, the company said yesterday.

    This translates to 1.5 billion litres of Premium Motor Spirit (PMS) for the month of December.

    The same amount of product will also be supplied in January 2026, it was added.

    President and Chief Executive of Dangote Industries Limited, Aliko Dangote, announced the plans. 

    Dangote said: “In line with our commitment to national well-being, and consistent with our track record of ensuring a holiday season free of fuel scarcity, the Dangote Petroleum Refinery will supply 1.5 billion litres of PMS to the Nigerian market this month. This represents 50 million litres per day. We are formally notifying the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of this commitment. We will supply another 1.5 billion litres in January and increase to 1.75 billion litres in February, which translates to over 60 million litres per day.”  Speaking during a visit by the South-South Development Commission (SSDC) to the refinery and the Dangote Fertiliser complex, he stated that the facility currently has adequate stock and is producing between 40 and 45 million litres of PMS daily. He added that the daily supply of 50 million litres should dispel long-standing claims that domestic refineries lack the capacity to meet national demand.

     Dangote also revealed ongoing engagement with petroleum marketers to strengthen distribution systems, including expanding the use of CNG-powered haulage.

     “Our priority is to ensure Nigeria receives the products it needs. This is not driven by profit motives; it is about guaranteeing the availability of essential energy products. It is similar to the transformation we delivered in the cement sector,” he added.

     In a letter signed by David Bird, Chief Executive Officer of Dangote Refinery, and addressed to the Authority Chief Executive of NMDPRA, the company invited the regulator to independently verify its actual daily production capacity, countering prevailing speculations.

    “We request your support to host NMDPRA officials onsite at our refinery starting December 1, to validate and publicly confirm our daily supply volumes. In the interest of full transparency, we are prepared to publish our daily production and stock figures across both online and print media.”

    Read Also: Tinubu, First Lady, Shetimma, hail PFN at 40

    Dangote further noted that the refinery is progressing with its expansion plan to reach a capacity of 1.4 million barrels per day. More than 100,000 workers are expected to be involved in the expansion of both the refinery and the fertiliser complex. Dangote emphasised that the Group remains committed to its vision, driven by the strong public support for the company’s role in shaping Nigeria’s economic development.

     During the visit, the Managing Director of SSDC, Usoro Offiong Akpabio, commended Dangote’s leadership and his continued contribution to strengthening Nigeria’s industrial capability, national energy security and long-term economic competitiveness.

     She described the South-South region as Nigeria’s natural energy corridor, with vast crude oil reserves, gas infrastructure, maritime assets, agro-industrial activity and emerging industrial clusters. She noted that deeper collaboration between the region and the Dangote Group could unlock opportunities in product distribution, CNG infrastructure, petrochemicals, agriculture, and employment creation.

     Akpabio added that such partnerships would advance the Federal Government’s energy stability agenda and position the South-South as a strategic growth hub for the Dangote Group.

     “As the statutory development body for the South-South, SSDC is mandated to drive regional economic development, infrastructure integration, human capital advancement, and private-sector-led–led growth. In this regard, we stand prepared to support State-level policy and regulatory support for Ease-of-doing-business across our six states. Enabling environments for Dangote Group’s expansion into strategic sectors such as gas processing, agro-industrial value chains, renewable energy, logistics, and export-oriented manufacturing,” she said.

  • Dangote Group signs fertiliser expansion deals

    Dangote Group signs fertiliser expansion deals

    Dangote Group yesterday said it has entered into a series of strategic technical partnerships to support the next phase of expansion of its fertiliser operations in Nigeria and the development of new fertiliser plants in Ethiopia.

    It said the collaborations mark a significant step in its long-term plan to strengthen regional food security, enhance agricultural productivity, and deepen Africa’s position in the global fertiliser market.

    Through the strategic partnerships, Dangote Group said it would increase its urea production capacity in Nigeria from the current three million to nine million metric tons annually.

    A statement by Head of Media Relations, Esan Sunday, said the existing facility operates two trains with a combined capacity of three million metric tons.

    He stated: “The expansion will introduce four additional trains, enabling the Group to meet the rising demand for high-quality fertiliser across Africa and global markets.

    Read Also: Dangote Cement tops tax compliance chart

    “In addition to the Nigerian expansion, the Group recently held the groundbreaking ceremony for a $2.5 billion fertiliser plant in Gode, Ethiopia.

    “The facility is designed to produce three million metric tons of urea annually and represents a significant step in Dangote Group’s commitment to strengthening food security and industrial growth across the continent.

    “To deliver world-class facilities and ensure the highest standards of technology, reliability, and operational efficiency, Dangote Group has entered into the following partnership agreements:

    “Topsoe will provide ammonia technology licensing and complete process design packages for six ammonia plants. Four of these plants will be located in Nigeria and two in Ethiopia.

    “Topsoe is recognised globally for advanced ammonia process technologies that support efficient and environmentally responsible production.

    “Saipem will deliver technology licensing and the full process design package for urea melt units across all six plants. This includes four units in Nigeria and two in Ethiopia.

    “Saipem brings deep engineering expertise and decades of experience in fertiliser production systems.

    “Thyssenkrupp’s UFT division will supply the granulation technology license and complete process design package for granulation units in the six fertiliser plants.

    “This will support the production of premium-quality urea granules suited for domestic and international markets.

    “Engineers India Limited has been appointed as project management consultant and engineering procurement and construction management consultant for the four fertiliser plants being developed by DFFZE in Lekki, Nigeria.

    “Engineers India brings proven competence in large-scale industrial engineering and project delivery.

    “These partnerships reflect Dangote Group’s commitment to delivering high-quality industrial assets that meet the most rigorous global standards.

    “The planned expansion will significantly increase regional urea and ammonia production capacity, create new jobs, support agricultural value chains, and contribute to sustainable economic growth in Nigeria, Ethiopia, and across the continent.”

    Dangote Group said it remained fully dedicated to building resilient industrial capacity, supporting national development priorities, and forging strong global collaborations that advance Africa’s long-term prosperity.

  • Dangote, Honeywell International seal deal on 1.4mbpd refinery upgrade

    Dangote, Honeywell International seal deal on 1.4mbpd refinery upgrade

    Dangote Group and Honeywell International Inc. have entered into a strategic partnership that will see the expansion of the daily processing capacity of the Dangote Petroleum Refinery to 1.4 million barrels per day (mbpd) by 2028.

    In a statement, Dangote Group stated that the collaboration would provide advanced technology and services that will enable the refinery to increase its processing capacity to 1.4 million barrels per day by 2028, marking a major milestone in its long-term vision to build the world’s largest petroleum refining complex.

    Under the agreement, Honeywell will supply specialised catalysts, equipment, and process technologies that will allow the refinery to process a broader slate of crude grades efficiently and to further enhance product quality and operational reliability.

    Besides, Dangote will also be scaling up its polypropylene capacity to 2.4 million metric tons annually using Honeywell’s Oleflex technology. Polypropylene is a key industrial material widely used across packaging, manufacturing, and automotive applications.

    The group is also progressing with the next phase of its fertiliser growth plan in Nigeria.

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    “We will increase our urea production capacity from three million metric tons to nine million metric tons annually. The existing plant consists of two trains of 1.5 million metric tons each. The expansion will add four additional trains to meet growing demand for high-quality fertiliser across Africa and global markets,” Dangote stated.

    Dangote assured that it remains fully committed to delivering world-class industrial capacity, strengthening Nigeria’s energy security, and driving sustainable economic growth through long-term investment, innovation, and strategic global partnerships.

    Honeywell, a global Fortune 100 industrial and technology company, offers a wide portfolio of solutions across aviation, automotive, industrial automation, and advanced materials.

    Honeywell’s division UOP has been a technology partner to Dangote since 2017, providing proprietary refining systems, catalyst regeneration equipment, high performance column trays, and heat exchanger technologies that support best-in-class operations.

    President, Dangote Industries Limited and Chief Executive, Dangote Petroleum Refinery, Alhaji Aliko Dangote, had said the decision to expand the refinery capacity was driven by enabling environment created by President Bola Tinubu’s reforms and emerging opportunities across Africa.

    According to him, with growing regional demand for cleaner fuels and Nigeria’s evolving policy environment that encourages local refining, the $20 billion facility, already the largest single-train refinery in the world, will more than double its capacity within the next three years, making it a global leader in petroleum refining and a major driver of Africa’s industrial renaissance.

    He said the refinery will also expand its polypropylene production capacity from 900,000 metric tonnes to 2.4 million metric tonnes per annum, further boosting the output of linear alkylbenzene, a key ingredient in detergent manufacturing, along with additional production of base oils.

    He said: “With this expansion, the refinery transitions from producing Euro V to Euro VI fuel standards, meeting the highest global environmental benchmarks. We will also expand our power generation capacity to 1,000 megawatts, ensuring complete operational self-sufficiency. More than 85 per cent of our workforce will be Nigerians, with continuous investment in skills development and technology transfer. Our commitment to safety, sustainability and local participation remains unwavering throughout every phase of the expansion”.

    He said the expansion reflected the group’s belief in Africa’s potential to achieve energy security and transform its economy from being an exporter of raw crude to a hub for refined petroleum products.

    He estimated that the refinery’s revenue could exceed $55 billion annually, making it one of the most valuable industrial assets on the African continent.

     “This expansion reflects our confidence in Nigeria’s future, our belief in Africa’s potential and our commitment to building energy independence for our continent and the world. It also is about confidence in Nigeria, in Africa and in our capacity to shape our own energy future.

    “It is the dream of President Bola Ahmed Tinubu, for Nigeria to emerge as one of the major suppliers of petroleum products in the world. And with his strong backing through his policies, we are taking on the challenge to make this happen,” Dangote said.

    He said the expansion would be executed over the next three years and would be financed through a mix of cash flow, public listing and strategic investors. When completed, the refinery will surpass India’s Jamnagar Refinery, currently the world’s largest facility, cementing Nigeria’s position as a global refining hub.

    Highlighting the economic impact of the project, Dangote said the expansion would further strengthen Nigeria’s energy security, reduce foreign exchange outflows, and save the country billions of dollars annually that would otherwise go into importing refined products.

    He said: “This expansion will create additional jobs, support thousands of SMEs, and deepen our industrial base. Our goal has never been just to refine oil, but to refine opportunities for our people. It is a vote of confidence in Nigeria, in the reforms of President Bola Ahmed Tinubu’s administration, and in the ability of Africans to build and manage world-class infrastructure”.

    He expressed gratitude to President Tinubu and the Federal Government for supporting industrialisation policies such as Nigeria’s First, Naira-for-Crude and the ‘One-Stop Shop’ initiatives, which he said have emboldened investors to take on transformative projects.

    He also commended the government’s intervention in mediating recent disruptions at the refinery linked to union activity and sabotage attempts, calling it a demonstration of effective collaboration between the public and private sectors.

    Dangote reaffirmed plans to list a significant portion of the refinery’s shares on the Nigerian Exchange (NGX) within the next year, describing it as part of efforts to democratise ownership and allow Nigerians to share in the value creation.

    “Our main listing will be here in Nigeria to give Nigerians value. We want the Dangote Refinery to be the golden stock of the Exchange. Listing outside Nigeria is secondary to us. We want this to be a national asset in every sense. This is a step towards broader ownership and market transparency. Therefore we call on all Nigerians to seize this window, to benefit from this golden opportunity. Our long-term goal remains clear: to build Africa’s leading integrated energy and petrochemical hub, the first of its kind on the continent,” Dangote said.

    He said the refinery’s strong cash flow, profitability prospects and strategic positioning would make it attractive to both local and global investors.

    Despite not yet recouping the initial investment in the 650,000 bpd phase, Dangote said the group is focused on long-term transformation rather than short-term returns.

    He said: “Refining is a long-term project. We are expanding because we believe in Africa. Without this refinery, Nigeria would still be buying dollars at ridiculous rates and depleting our reserves to import fuel”.

    He commended the Federal and Lagos State Governments for their continued support, along with the company’s host community in Lekki and its financial and technical partners.

    He said: “This expansion is not just about capacity; it is about confidence — in our people, in our government and in our continent. Together, we are building a stronger Nigeria and redefining what is possible for Africa”.