Billionaire Aliko Dangote has described his $23 billion Dangote Refinery project as the ‘biggest risk’ of his life, acknowledging the challenges he faced in bringing the venture to fruition. In an exclusive interview with Forbes on Monday, Dangote opened up about the risks involved in such a massive undertaking. ‘It was the biggest risk of my life. If this didn’t …

Officials of the Dangote refinery have said the controversial fuel allegedly bought from a filling station belonging to the Nigerian National Petroleum Company Limited (NNPCL) did not emanate from the refinery. The officials, who spoke to Sunday PUNCH on condition of anonymity, said Nigerians testified to the quality of the Premium Motor Spirit (PMS) from the Dangote refinery because they …

Dangote Petroleum Refinery & Petrochemicals has reduced the gantry price of its diesel by 5 per cent to N1,020 per litre, from N1,075 per litre in order to impact the lives of customers and Nigerians. Since it began diesel production in January 2024, the refinery has reduced the price of diesel more than three times, from an initial N1,700 per …

Some oil marketers are beginning to change the logo of NNPC Limited (NNPCL) on their filling stations, as the dealers have reportedly dumped the franchise deals with the company due to the stiff competition in the prices of refined products in the downstream arm of the oil sector. The PUNCH gathered that many others are considering the move, particularly those …

In a move that could drive economic relief for Nigerians, Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N950 to N890 from Saturday. It said the price adjustment was in response to favourable developments in the global energy sector and a significant decline in international crude oil prices. A statement …

Oil marketers have revealed that the landing cost of Premium Motor Spirit (petrol) as of Friday was N922.65 per litre. Dealers said this cost factors in various expenses including shipping, import duties, and exchange rates. The amount is a considerable reduction of N32.35 from the N955 per litre offered at the loading gantry of the Dangote Petroleum Refinery. This decrease …

Retail outlets owned by the Nigerian National Petroleum Company Limited (NNPCL) have raised the pump price of Premium Motor Spirit (PMS), also known as petrol, from N965 to N990 per litre in the Federal Capital Territory (FCT) They also increased their price in Lagos from N925 to N960 per litre. This is even as the price of crude oil showed …

Dangote Petroleum Refinery yesterday clarified the recent upward adjustment of its ex-depot price of Premium Motor Spirit (PMS) otherwise known as petroleum, saying this is directly linked to the “Significant increase in global crude oil prices”. It was reported earlier that Dangote on Friday adjusted the price from N899 per litre to N950. The refinery stated in a memo to …

  The pump prices of Premium Motor Spirit (PMS), popularly called petrol, have risen to between N1,050 and N1,150/litre depending on the area of purchase, following the hike in the cost of the commodity by the Dangote Petroleum Refinery and various depot owners. Dealers confirmed that PMS prices would continue to rise since the major component in fuel production, crude …

The Dangote Petroleum Refinery is building eight more tanks in its bid to have enough storage for imported crude oil. A report by Africa Report has it that the refinery is ramping up its storage capacity by 6.29 million barrels, equivalent to 1 billion litres. The report stated that the $20 billion refinery is planning to stockpile imported crude oil …