Dangote Warns Africa Is Becoming Dumping Ground for Substandard Fuel
Aliko Dangote, President of Dangote Industries Limited, has expressed grave concern over Africa’s increasing reliance on imported petroleum products, warning…
Category: Energy
Dangote Disputes Nigeria’s Petrol Consumption Figures, Cites Corruption in Subsidy Era
A major dispute has emerged between Nigeria’s top industrialist Aliko Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority…
Experts, Labour Back Dangote: Say NNPC Refineries May Never Work Again
Organized labour, petroleum marketers, and energy experts have supported Aliko Dangote’s assertion that Nigeria’s state-owned refineries under the Nigerian National…
Nigeria Eyes 25% Hike in OPEC Oil Quota by 2027 Amid Refinery Expansion, Says NNPC
Nigeria is preparing to formally request a 25% increase in its oil production quota from the Organisation of Petroleum Exporting…
Dangote Refinery Expands Fuel Export Reach to Southern Africa with Namibia Facility
The Dangote Petroleum Refinery is set to expand its export operations by constructing a fuel storage facility in Namibia with…
Nigerian Crude Hits $72 Amid Red Sea Tensions, Dangote Pushes for 100% Local Supply
Nigerian crude oil prices surged past $72 per barrel on Tuesday, spurred by renewed geopolitical tensions following deadly Houthi attacks…
Dangote Refinery Cuts Petrol Price Again to N820 per Litre Amid Market Stabilisation
Dangote Refinery has further reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N840 to…
Naira Breaks Free from Oil Dependency as Currency Holds Steady Despite Price Slump
Nigeria’s naira is showing signs of resilience and stability, decoupling from its historical dependence on crude oil prices, according to…
Dangote Refinery Targets 100% Nigerian Crude by Year-End in Energy Sector Milestone
Dangote Industries Limited has announced plans to fully switch its massive 650,000 barrels-per-day refinery to use only Nigerian crude oil…
Petrol Prices Fall Below ₦900 as Dangote Refinery Slashes Rates Amid Global Oil Dip
Petrol pump prices in Nigeria have dropped below ₦900 per litre, following a ₦40 cut in ex-depot prices by the…
Marketers Resist Dangote’s Petrol Price Cut, Maintain High Pump Rates Despite Crude Dip
Despite a recent reduction in the ex-depot petrol price by the Dangote Petroleum Refinery from N880 to N840 per litre,…
Middle East Tensions Threaten Ghana’s Economic Stability – Terkper Warns
Seth Terkper, Economic Policy Advisor at the Office of the President, has issued a caution regarding the potential fallout of…
Dangote Refinery Slashes Petrol Price to N840 Amid Global Oil Drop, Plans Nationwide Distribution
Dangote Petroleum Refinery has announced a reduction in its ex-depot petrol price to N840 per litre, marking a N40 drop…
Nigerian Crude Falls Below $70 as Global Oil Market Faces Oversupply Fears
Crude oil prices for Nigeria’s main export grades—Bonny Light, Brass River, and Qua Iboe—have fallen below $70 a barrel, returning…
Iran-Israel Conflict Poses New Threats and Opportunities for Nigeria’s Fragile Economy
The escalating conflict between Israel and Iran is reshaping global economic dynamics, with ripple effects reaching even distant economies like…
Marketers Expect Petrol Price Drop as Global Crude Oil Rates Fall
Petroleum marketers in Nigeria are anticipating a reduction in petrol pump prices following a notable drop in global crude oil…
‘Dangote’s Investment Of N720bn On CNG Trucks To Save Nigerians N1.7trn’
Dangote Petroleum Refinery has invested over N720 billion in the deployment of 4,000 Compressed Natural Gas (CNG)-powered trucks to distribute…
Petrol Prices Surge Past ₦950/Litre in Nigeria Amid Global Tensions, Naira Slide
Petrol prices across Nigeria climbed steeply on Monday, with pump prices in major cities like Abuja and Lagos now ranging…
Nigeria Earns N70tn from Oil Exports Despite Weak Output and Sector Challenges
Nigeria has generated a substantial N70.1 trillion in oil export revenue over a 15-month period from January 2024 to March…
Oil Prices Could Soar to $150 as Iran Approves Strait of Hormuz Closure Amid Rising Tensions
In a bold geopolitical move, Iran’s parliament has approved the closure of the Strait of Hormuz, a narrow but essential…
Dangote Refinery Set to Export First Petrol Cargo to Asia, Signaling Global Expansion
The Dangote Petroleum Refinery, Africa’s largest oil refining facility, is preparing for its first gasoline export beyond Africa, with a…
Senate Demands Explanation from NNPCL Over Missing N210 Trillion in Financial Records
The Nigerian Senate has issued a one-week ultimatum to the Nigerian National Petroleum Company Limited (NNPCL) to explain discrepancies totaling…
Nigerian Power Sector and Government Lag Behind in Digital Resilience, NESG Warns
At a biennial lecture in Lagos organized by the Chartered Institute of Directors, the CEO of the Nigerian Economic Summit…
Nigeria Imports N1.2tn Worth of Crude Despite Being Africa’s Top Oil Producer
Nigeria, despite being Africa’s largest oil producer, imported crude oil worth N1.19 trillion in the first quarter of 2025 due…
Nigeria Becomes Crude Oil Importer Despite Being Africa’s Top Producer
In a striking contradiction, Nigeria—Africa’s leading oil producer—spent N1.19 trillion importing crude oil in the first quarter of 2025, making…
Breaking: Markets Steady Amid Rising Israel-Iran Tensions and Global Economic Crosswinds
Despite a dramatic escalation in the Israel-Iran conflict over the weekend, global markets opened the week on a surprisingly calm…
Nigeria’s Crude Export Earnings Drop to N12.96tn Amid Refining Setbacks and Production Decline
Nigeria’s crude oil export earnings fell to N12.96 trillion in the first quarter of 2025, representing a 16.34% year-on-year drop…
Asia Stocks Steady Amid Oil Price Surge and Geopolitical Tensions
Asian stock markets showed resilience on Monday despite heightened geopolitical uncertainty driven by ongoing tensions between Israel and Iran. Investors…
Nigeria’s Telecom Sector Bleeds $350 Million Annually on Diesel Amid Power Crisis – AFC Report
Nigeria’s telecommunications industry spends over $350 million annually on diesel to power its infrastructure, according to the Africa Finance Corporation’s…
Nigeria’s $5 Billion Aramco Loan Stalls Amid Falling Oil Prices and Supply Concerns
Nigeria’s ambitious plan to secure a $5 billion oil-backed loan from Saudi oil giant Aramco has encountered significant setbacks, primarily…