Marketers of petroleum products in Nigeria have reportedly written to President Bola Tinubu to complain that the drop in price of Dangote Refinery’s diesel to N900 per litre, is negatively affecting their businesses. Devakumar Edwin, Vice President, Dangote Industries Limited, disclosed this on a Twitter Spaces session organized by Nairametrics. “Petroleum product marketers in Nigeria…
The Dangote refinery may resort to exporting its Premium Motor Spirit (petrol) following the refusal of the Nigerian National Petroleum Company Limited to be the sole buyer of its product. The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than…
Owner of Lagos-based refinery Aliko Dangote, on Tuesday, said the Federal Executive Council (FEC) will determine the pricing of petrol produced at his 650,000 barrels per day facility. The refinery owner said as soon as his company finalises modalities with the Nigerian National Petroleum Company Limited (NNPCL), the product will hit the market. “Our PMS…
GISTSMATE MEDIA reports that Aliko Dangote, the Chairman of Dangote group, has officially confirmed rollout Premium Motor Spirit (PMS), also known as petrol from its refinery. Dangote, while addressing the press on Tuesday, described the development as a turnaround for the country after many years of not producing a single litre of petrol. The group…
The Federal Government has disclosed that sales of crude oil to Dangote Refinery and other local refineries will commence October 1, 2024. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the announcement during a meeting with the Implementation Committee on Monday in Abuja. According to a post on the official…
The Speaker of the House of Representatives, Tajudeen Abass has dissolved an ad hoc committee investigating the oil and gas sector and the rift between Dangote Refinery and sector players/NMDPRA. The committee, was among other things, tasked with investigating the importation of adulterated petroleum products, the non-availability of crude oil for domestic refineries. In a…
GISTSMATE MEDIA reports that Former President Olusegun Obasanjo has said that those benefiting from the lucrative business of fuel importation are going to make efforts to frustrate the Dangote Petroleum Refinery. Obasanjo stated this in the wake of allegations by the President of the Dangote Group, Alhaji Aliko Dangote, that some ‘mafias’ were making efforts…
“In terms of quality, when we started, our quality was about six hundred to six fifty ppm, the ppm was one of the best in terms of quality at the time we started. But as of today, we are at 87 ppm. And you can take a sample on Monday. By Monday, we will be…