An economist, Paul Alaje has predicted the ongoing price war between the Dangote Refinery and NNPC Limited (NNPCL) will ‘erode abnormal profit’ enjoyed by capitalists. ‘You may want to call it a price war but in economics, when a duopoly fights, it is the best for the populace because they will drive themselves to neutral profits’, Alaje said on Channels …

The President of the Dangote Group, Alhaji Aliko Dangote, has hinged Nigeria’s industrialisation challenges on unstable electricity. Dangote said running a business abroad is 30 per cent cheaper than running the same business in Nigeria and other African countries due to stable electricity supply in developed countries. Africa’s richest man stated this recently while hosting the Zambian Minister of Energy, …

The Dangote Petroleum Refinery, on Wednesday, announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly referred to as petrol, by N65.00. This means the price will drop from N890 to N825 per litre, effective Thursday, 27 February, 2025, a statement by the refinery stated. According to Dangote, this adjustment is designed to provide essential relief …

Oil mogul and billionaire businessman, Alhaji Aliko Dangote has opened up on his determination to see his $23 billion refinery succeed despite all odds. The 650,000 barrels per day capacity is Africa’s largest. According to the Kano-born richest black man on earth, ‘I’ve been fighting battles all my life and I have not lost one yet. ‘The oil mafia is …

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 …

The President of Dangote Group, Aliko Dangote, has reaffirmed the conglomerate’s commitment to ending raw sugar importation in Nigeria with an investment exceeding $700 million in sugar production. Dangote, who spoke on Wednesday during the ‘Dangote Special Day’ at the ongoing 14th Gateway International Trade Fair in Abeokuta, Ogun State, said the group is accelerating its Sugar Backward Integration Plan …

About 250 manufacturers and academic institutions have abandoned their respective power distribution companies to generate their own electricity. This class, many of whom are bulk electricity users, shunned the national grid amid its incessant collapse, high cost of electricity, fuel price hikes, and line trippings. Findings from different data sources, particularly from the Nigerian Electricity Regulatory Commission (NERC), showed that …

President of Dangote Group, Aliko Dangote, has explained that the reduction in the price of petrol from his refinery was in response to market forces. Africa’s richest man disclosed this during an interview in an Arise TV documentary posted on YouTube and obtained by our correspondent on Wednesday. According to him, the move was to protect the interests of the …

Nigeria is a major crude oil producer. It currently produces about 1.3 million barrels of crude per day. In the best of times, it can pump somewhere around 1.8 million barrels of the black gold daily. That number could cross the 2 million mark if we decide to end crude oil theft and illegal bunkering. These will not happen because …

Aliko Dangote, chairman of the Dangote Refinery and Petrochemical Company, says his company has the capacity to meet the country’s local demand and urged marketers to stop importing the product. Dangote said this while addressing State House correspondents after a meeting with President Bola Tinubu to review the sale of crude in naira to local refiners at the Presidential Villa …