Tag: Dangote
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Mafia Nearly Frustrated $20bn Refinery Project — Dangote
By Paul Joseph President of the Dangote Group, Aliko Dangote, has disclosed that entrenched interests in Nigeria’s oil sector almost sabotaged the construction of the $20 billion Dangote Petroleum Refinery. Dangote made the revelation during an interview with Chief Executive Officer of Norway’s Sovereign Wealth Fund, Nicolai Tangen, where he reflected on the challenges encountered…
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Dangote Rejects NNPC Move to Increase Refinery Stake
By George Omagbemi Sylvester President of the Dangote Group, Aliko Dangote, has revealed that his company rejected attempts by the Nigerian National Petroleum Company Limited (NNPCL) to increase its ownership stake in the Dangote Petroleum Refinery, saying the decision was aimed at opening future participation to ordinary Nigerians and global investors. Dangote made the disclosure…
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BUA Founder Nears Dangote, Becomes Africa’s Second-Richest Man After $8.8bn Wealth Surge
By Paul Joseph Nigerian billionaire and Chairman of BUA Group, Abdulsamad Rabiu, has climbed to become Africa’s second-richest individual after adding an estimated $8.88 billion to his fortune in 2026. The latest Bloomberg Billionaires Index shows Rabiu’s net worth rising sharply to $19 billion, pushing him ahead of South African luxury business tycoon Johann Rupert…
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Dangote Hikes Petrol Price to N1,275
By George Omagbemi Sylvester Dangote Petroleum Refinery has increased its ex-depot petrol price to N1,275 per litre, reinforcing fresh pressure across Nigeria’s downstream oil market and signaling another adjustment in the deregulated fuel pricing regime. April 29, 2026 — The development follows ongoing volatility in global crude benchmarks and operational cost adjustments within the refinery,…
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Dangote Eyes East Africa Expansion with Planned Tanzania Refinery
By Paul Joseph Africa’s richest man, Aliko Dangote, has unveiled plans to partner with Kenya and Uganda to build a major oil refinery in Tanzania, a move that could significantly reshape the region’s energy landscape. Speaking at an infrastructure financing conference in Nairobi, the Dangote Group president said the proposed refinery would mirror his flagship…
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Dangote Refinery Reduces Premium Motor Spirit Price by N25 Per Litre
Dangote Refinery has announced a reduction in the gantry price of Premium Motor Spirit (PMS) by N25 per litre, bringing the ex-depot rate down from N799 to N774 per litre. This adjustment was communicated in a notice issued by the Group Commercial Operations Department of Dangote Petroleum Refinery and Petrochemicals FZE to marketers, effective immediately.…
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Dangote Refinery Lowers Petrol Price to N865 per Litre
Dangote Petroleum Refinery has cut the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from N880 per litre to N865 per litre, marking a 1.7% reduction. The decrease is a result of the drop in crude oil prices, which have fallen to $63 per barrel in April from over $70 per barrel…