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Dangote Refinery has decreased the price of Premium Motor Spirit (PMS) to ₦1,200 per litre, which represents a significant cut amidst ongoing global oil market fluctuations due to tensions in the Middle East.
Alhaji Aliko Dangote has expressed concerns that the ongoing tensions in the Middle East will lead to higher fuel prices, increased transport expenses, and rising inflation across Nigeria and other African nations.
Aliko Dangote, the wealthiest individual in Africa, has unveiled bold plans aimed at transforming the continent's industrial landscape. Following the launch of Africa's largest refinery, he emphasizes the importance of self-reliance in Africa's industrialization.
The ongoing conflict in Iran has led to a marked rise in fuel demand from the Dangote refinery, as various African nations scramble to secure energy amid disrupted imports. This situation has highlighted the continent's heavy reliance on foreign fuel sources.
Africa's wealthiest individuals have seen a significant rise in their fortunes over the past year, with the continent's billionaires adding over $20 billion collectively, as reported by Forbes. Aliko Dangote once again holds the title of Africa's richest person.
Aliko Dangote, the Chairman of Dangote Group, has forecasted that the naira could appreciate to N1,100 per dollar by the end of 2026. His comments were made during the unveiling of the National Industrial Policy 2025 by the Federal Government.
Dangote Group has finalized a $400 million agreement with XCMG Construction Machinery to enhance its refinery expansion efforts, boosting production capacity to 1.4 million barrels per day. The project aims to establish the refinery as the world's largest upon completion.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) reported that Dangote Petroleum Refinery boosted its daily supply of Premium Motor Spirit (PMS) to 40.1 million litres in January, marking an increase from December's figures.
Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit, decreasing it by N25 from N799 to N774 per litre, effective immediately. This move aims to enhance the competitiveness of domestically refined fuels.
The Dangote Petroleum Refinery is urging fuel marketers to consider coastal loading options to mitigate petroleum imports, although this could result in increased costs of N75 per litre. This warning has been issued despite the refinery's operation and availability of products.
The Dangote Cement Group plans to boost its production capacity to around 90 million tonnes by the year 2030, as announced by Aliko Dangote at the 2026 Distributors’ Awards Night, where he also rewarded distributors with N15 billion for their loyalty and performance.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has reported that Dangote Refinery supplied 32.02 million litres of Petrol Motor Spirit (PMS) in December, showcasing a significant improvement in capacity utilization.
