Dangote Refinery’s newly acquired Compressed Natural Gas (CNG) trucks, on Monday, began loading petroleum products at the facility for direct supply to filling stations nationwide. Our correspondent at the launch of the first batch of the trucks reported that the trucks have begun taking turns at the gantry to load products. The Refinery announced in…
Recent attacks against Dangote Petroleum Refinery from some associations in the oil and gas industry were orchestrated to derail the planned free fuel distribution logistics initiative, the management of Dangote Refinery said last night. It however foreclosed backtracking on the initiative, adding that the attacks lack genuine and patriotic concerns. In a statement last night,…
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has accused Dangote Petroleum Refinery of disguising an anti-union and monopolistic agenda under the cover of a planned free petrol distribution scheme. In a statement on Friday signed by National Executive President, Comrade Williams Akporeha, and General Secretary, Comrade Afolabi Olawale, NUPENG alleged that the…
The Dangote refinery is set to commence its free fuel distribution scheme on Monday, starting with Lagos, the South West, Abuja, Kwara, Delta, Rivers, and Edo, respectively. According to the Dangote Group spokesperson, Anthony Chiejina, the scheme will bring relief to millions of Nigerians by providing fuel at reduced prices. The Dangote spokesperson said; “We…
President Bola Tinubu has directed financial and capital market authorities to monitor the increasing use of stablecoins and digital currencies in Nigeria, cautioning that the shift away from traditional banking systems presents emerging challenges that must be proactively managed. Speaking at the 18th Annual Banking and Finance Conference of the Chartered Institute of Bankers of…
Scarcity of petroleum products may soon hit the country as members of the National Union of Petroleum and Natural Gas Workers (NUPENG) continue their strike on Tuesday after negotiations between the Federal Government, organised labour, and the Dangote Group hit a roadblock late Monday in Abuja. This came as NUPENG officials stopped fuel loading activities…
Members of the Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, have shut down petrol distribution nationwide with effect from today, Monday, September 8, over a face-off with Dangote Refinery. The National President of NUPENG, Williams Akporeha, in an interview with DAILY POST on Sunday, noted that the move was in the interest of…
Nigeria’s Dangote refinery has dispatched its first gasoline shipment to the United States, marking a new milestone for the $20bn facility and signaling the country’s growing influence in global oil product markets. The consignment left the refinery’s jetty near Lagos on 26 August aboard the vessel Gemini Pearl, carrying about 300,000 barrels of gasoline, according…
Forex traders have attributed the recent exchange rate stability to the success of Nigeria’s currency swap agreement with Chinese traders now collecting naira for its currency, the yuan, instead of dollars. They also identified P2P (Peer-to-Peer) foreign currency trade as one of the factors that is contributing to the stability of the naira. Peer-to-peer foreign…
Billionaire businessman Aliko Dangote has revealed he built his business empire from the scratch despite being born into a wealthy family. Speaking in a video, Dangote said he chose not to rely on inherited wealth. Dangote said he worked with his uncle before venturing into his business, initially trading in cement. He recognised the vast…