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Dangote Refinery loses N32.5bn after petrol price cut
Business featured

Dangote inks deal to deliver 65m litres petrol daily

The Dangote Petroleum Refinery has signed an offtake agreement with 12 leading petroleum marketing companies to supply 60–65 million litres of Premium Motor Spirit, also known as petrol daily across Nigeria. The initiative is expected to stabilise fuel supply and strengthen the country’s drive toward self-sufficiency. Aliko Dangote, President of the Dangote Group, stated in […]

Business

Dangote signs $400m deal to double refinery capacity

Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery Co., Ltd., one of China’s leading manufacturers of construction machinery, in a move set to accelerate the expansion of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day, positioning it to become the […]

featured Oil and Gas

Petrol imports drop 42.2% as Dangote supply rises

Petrol imports into Nigeria declined by 42.2 per cent in January 2026, falling to an average of 24.8 million litres per day from 42.8 million litres per day in December 2025, according to a report by the Nigerian Midstream and Downstream Petroleum Regulatory Authority. The report, released over the weekend, indicated that petrol supplied by […]

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

Dangote Refinery supplies 62% of Nigeria’s PMS, surpasses importers – Report

Thee Dangote Petroleum Refinery supplied about 62 per cent of Nigeria’s Premium Motor Spirit (petrol), surpassing fuel importers in January 2026. The latest fact sheet from the Nigerian Midstream and Downstream Petroleum Regulatory Authority indicates a growing reliance on local refining capacity, pointing to a potential decline in the nation’s dependence on imported fuel. The […]

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

Dangote Refinery boosts Nigeria’s fuel supply to 40.1m litres daily – Report

Nigeria’s domestic fuel supply got a significant lift in January 2026, with the Dangote Petroleum Refinery producing an average of 40.1 million litres of Premium Motor Spirit daily. Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority, shows this represents an increase of roughly 8 million litres per day over December 2025’s 32 million […]

Business

Dangote Refinery does not import finished petroleum products – MD

The Managing Director of the Dangote Petroleum Refinery, David Bird, stated that the $20 billion facility does not import finished petroleum products. He explained that the refinery follows a merchant refining model, which does not depend solely on crude oil. Bird clarified that what some had referred to as fuel was actually intermediate feedstock, making […]

Oil and Gas

Dangote Refinery reaffirms capacity to exceed local fuel demand

Dangote Petroleum Refinery has confirmed its ability to supply fuel volumes well above Nigeria’s domestic demand. The refinery said it can produce 75 million litres of Premium Motor Spirit daily, surpassing the country’s estimated consumption of 50 million litres. It can also supply 25 million litres of Automotive Gas Oil daily, compared with a national […]

featured Oil and Gas

Dangote petrol now costlier than imported fuel after price hike

The landing cost of imported Premium Motor Spirit (petrol) has fallen below the gantry price of petrol from the Dangote Petroleum Refinery following the refinery’s decision to increase its price. Data from the Major Energies Marketers Association of Nigeria indicate that the landing cost of imported petrol stood at N728.88 per litre last week. On […]

Opinion

Rewane forecasts Dangote Refinery listing to double stock market capitalisation

Bismarck Rewane, chief executive officer of Financial Derivatives Company, has projected that the anticipated listing of the Dangote Refinery on the Nigerian Exchange in 2026 could more than double Nigeria’s stock market capitalisation to above N200 trillion, while warning that the naira may weaken to about N1,590 per dollar by the end of 2026. Rewane […]

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