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DANGOTE REFINERY
The Dangote Group has described the reported lawsuit against the Nigerian National Petroleum Corporation (NNPC) Limited and other oil companies, seeking to revoke their import licenses, as “an old issue.”
Dangote Petroleum Refinery and Petrochemicals FZE has asked the Federal High Court in Abuja to void import licenses issued to the Nigeria National Petroleum Corporation Limited (NNPC), Matrix Petroleum Services Limited, A. A. Rano Limited, and four other companies for the purpose of importing refined petroleum products that are already being produced by Dangote without shortfalls.
Aviation jet fuel from the Lagos-based Dangote refinery now dominates approximately two-thirds of Nigeria’s market, a recent report reveals.
Aliko Dangote, Africa’s richest man, has seen his wealth more than double to $28 billion following the long-awaited opening of his Nigerian oil refinery, according to the Bloomberg Billionaires Index.
The importation of premium motor spirit (PMS), commonly known as petrol, into Nigeria has significantly declined in the first two weeks of October as the Dangote Refinery increases production to meet local demand.
The National Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), James Tor, has said petrol prices may drop after the federal government allowed marketers to buy directly from Dangote refinery and import from other sources.
Dangote Group, the owner of West Africa’s largest refinery, is set to begin crude oil production at its two Nigerian oil assets in the fourth quarter of 2024, according to a report by S&P Global Commodity Insights released on October 10.
The Chairman and CEO of the Dangote Refinery, Aliko Dangote, has met with the Prime Minister of Grenada to explore a potential trade deal, aiming to enhance trade relations with Grenada and the broader Caribbean region.
Alhaji Aliko Dangote, President of Dangote Group, stated on Tuesday that the Dangote Refinery was built without any government incentives.
The Minister of Aviation, Festus Keyamo, has said Nigerian airline operators have decided to purchase aviation jet fuel, also known as Jet A1 Solely from Dangote refinery, hereby ditching imported products.
Celebrated diplomat and African Union High Representative for Silencing the Guns, Dr. Mohamed Ibn Chambas, has described the 650,000bpd Dangote Refinery, as a transformational project that would propel Africa out of poverty.
Nigeria’s locally produced diesel accounted for just 2.16% of the total diesel supply in 2023, a slight decrease from the 2.50% recorded in 2022.