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Tag: Dangote Group

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Dangote invests $280m in CNG conversion tech, infrastructures

The Dangote Group has announced an investment exceeding $280 million in Compressed Natural Gas technology and infrastructure. This move underscores the company’s commitment to supporting President Bola Tinubu’s CNG initiative and its leadership in the sector. The investment aims to mitigate climate change and facilitate Nigeria’s transition to a low-carbon economy, aligning with Tinubu’s strategy […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote denies new suit against NNPCL, others over import licenses

The Dangote Group has characterized the lawsuit against the Nigerian National Petroleum Corporation Limited and other oil companies as an “old issue.” The group communications officer of Dangote Group, Anthony Chiejina, stated that the proceedings are currently on hold, with intentions to withdraw completely by January 2025. He clarified that the case originated in June […]

Dangote Refinery loses N32.5bn after petrol price cut
News

Dangote to transport refined products by sea — Official

The Dangote Group announced plans to transport refined petroleum products by sea. This was disclosed in a statement on Sunday by the by the Senior Adviser to the Group President, Fatima Wali-Abdurrahman, according to The Punch. She noted the construction of a jetty in the Lekki Free Zone to facilitate bulk cargo handling during the […]

Dangote speaks to Bloomberg on Arsenal, refinery, fuel subsidy
News

Analysts blame merger denial, forex crisis for Dangote stocks decline

Foreign exchange losses and the Securities and Exchange Commission’s decision to deny the merger proposal of the Dangote Group, which comprises Dangote Sugar Refinery and NASCON Allied Industries, have been blamed for the recent decline in the stock prices of the company. The persistent pressures on inflation and volatility in the foreign exchange market, according […]

News

Dangote Group receives $105.33m from CBN’s Dutch auction 

Dangote Group emerged as a huge winner, acquiring at least $105.33 million in foreign exchange bids in the most recent Retail Dutch Auction held by the Central Bank of Nigeria. This allocation marks about 13% of the $876.26 million that the CBN disbursed to eligible banks, according to Nairametrics. Zenith Bank, Access Bank, Providus Bank, […]

Dangote speaks to Bloomberg on Arsenal, refinery, fuel subsidy
News

Dangote Group plans $30bn revenue to boost naira

The President of Dangote Group, Aliko Dangote, has said that the $30bn revenue the company plans to generate by 2025 ending will strengthen the naira. This was disclosed by Dangote on Sunday during a tour of the Dangote Fertiliser Limited and Dangote Petroleum Refinery & Petrochemicals, signaling a strategy to become independent from the Central […]

News

Flutterwave, Dangote Group joins Africa Leaders Business Council  

Fintech powerhouse, Flutterwave and Dangote Group have been chosen as members of the Milken Institute’s Africa Leaders Business Council. The newly formed council includes renowned thought leaders, entrepreneurs, investors, and professionals from a variety of fields, including business, technology, finance, sustainability, and innovation, according to Nairametric. According to the institute release, the council’s goal is […]