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Oil and Gas

Nigeria’s petrol import bill hits ₦952bn despite Dangote Refinery supply

Nigeria spent N952.15 billion on imported Premium Motor Spirit in the second quarter of 2026, despite the country’s growing domestic refining capacity and an escalating dispute between the Dangote Petroleum Refinery and fuel importers over the continued inflow of foreign petrol. The PUNCH reported that an analysis of the National Bureau of Statistics’ Foreign Trade […]

Business

Dangote Refinery IPO to open within 12 days

Dangote Industries Limited President Aliko Dangote has announced that the initial public offering of the Dangote refinery will begin within the next 10 to 12 days. Dangote made the disclosure on Thursday while addressing investors and analysts in Botswana, Reuters reported. The $20bn facility, which is Africa’s largest refinery, is projected to raise approximately $5bn […]

Oil and Gas

Dangote Refinery defends hike as petrol price hits ₦1,400/litre

The Dangote Petroleum Refinery has defended its latest fuel price increases, attributing the upward adjustments to the cost of crude oil purchased earlier and the lengthy process involved in securing, shipping and delivering crude to the refinery. The explanation came as the price of Premium Motor Spirit (petrol) climbed further across the country, with the […]

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Dangote Refinery raises petrol gantry price to ₦1,200/litre

Dangote Petroleum Refinery and Petrochemicals FZE has increased the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026. According to The PUNCH, in an official communication to customers issued on Tuesday, the refinery’s Group Commercial Operations announced revised depot prices for gantry and coastal deliveries. The email, […]

Oil and Gas

Dangote Refinery extends free product delivery to four more states

The Dangote Petroleum Refinery and Petrochemicals has expanded its free petroleum product delivery initiative to Kano, Imo, Anambra and Nasarawa States. The move is expected to reduce distribution costs for independent petroleum marketers and create room for lower petrol prices. The initiative initially covered Lagos, Ogun, Rivers, Kaduna, Abuja and Delta States. It is designed […]

Oil and Gas

Dangote offers East Africa 30% stake in refinery

Aliko Dangote has offered East African countries a combined 30 per cent equity stake in his proposed oil refinery in Kenya, potentially giving regional investors access to about $1.5 billion worth of the planned project. Kenyan President William Ruto’s economic adviser, David Ndii, disclosed this on Thursday at a capital markets forum in Nairobi, where […]

Business

Dangote Refinery secures $1bn underwriting programme ahead of IPO

The Dangote Petroleum Refinery and Petrochemicals has secured a $1bn underwriting programme as it prepares for a planned Initial Public Offering. According to The PUNCH, the financing arrangement was structured by Marob Strategies and Consulting DIFC Ltd in partnership with Lilium Capital Group. It consists of a completed and funded $600m private placement and an […]

Oil and Gas

Dangote Refinery alone not enough for Africa, says FG

The Federal Government has said the Dangote Refinery alone cannot meet Africa’s growing refined petroleum products needs, urging local and international investors to pour more capital into Nigeria’s refining, midstream and downstream sectors. The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said Nigeria must build on the success of the Dangote Refinery and […]

Aviation

Dangote Refinery remains Europe’s top jet fuel supplier

Dangote Petroleum Refinery & Petrochemicals remained Europe’s largest supplier of imported jet fuel for the second consecutive month in July, accounting for about one-fifth of the continent’s aviation fuel imports. This is according to the latest European import data compiled by global commodities intelligence firm Kpler. The 700,000-barrel-per-day refinery exported more than 400,000 tonnes of […]

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Nigerian stocks sustain bullish run on blue-chip demand, Dangote deal

The Nigerian stock market maintained a bullish run Week-on-Week on renewed demand for large-capitalised stocks, pushing the benchmark Nigerian Exchange Limited All-Share Index to 247,357.40 points. The positive reading reflected the stronger investor appetite for selected blue-chip and fundamentally strong stocks, with gains concentrated across the banking, consumer goods and industrial segments. The rally also […]

Business

Dangote Refinery completes $2.5bn equity placement, ahead of IPO

Dangote Petroleum Refinery and Petrochemicals FZE (DPRP or the Enterprise) on Thursday announced the successful completion of its landmark private placement, which achieved 3.7 times subscription relative to the initial offer size and resulted in the issuance and allotment of approximately US$2.5 billion in new equity. This transaction is believed to be Africa’s largest publicly […]

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Dangote Refinery resumes naira petrol sales at ₦1,215/litre

Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit, also known as petrol, in naira after a week suspension, ending uncertainty in the downstream sector over its temporary shift to dollar-denominated sales. Vanguard reported that the refinery has fixed its new ex-depot (gantry) price at N1,215 per litre, representing an increase of N140 […]

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