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Aliko Dangote

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Nigeria

Dangote Faces Price War as NNPC Backs Fuel Imports

Aliko Dangote, CEO of Dangote Refinery, has clarified that the refinery sold petrol to the Nigerian National Petroleum Company (NNPC) at a price lower than imported fuel, even as the downstream sector faces an intensifying price war. Dangote accused the NNPC and other outfits of sabotaging the $20bn refinery investment, particularly by denying it crude supplies and continuing fuel imports. He stated: “We sold to NNPC at a lower price than imported petrol.” The price war has escalated as NNPC has moved to match Dangote’s reduced petrol price, with NNPC retail outlets now selling at ₦860 per litre after Dangote cut its ex-depot price from ₦890 to ₦825 per litre. This marks the refinery’s second price reduction in the new year and third in two months. Industry analysis shows fuel importers are being squeezed, with average 30-day landing costs hitting […]

Abdulmumini Auwal SA May 26, 2026

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Nigeria

 Dangote Revives Massive Olokola Deep Seaport Plan in Ogun

Aliko Dangote has reactivated plans to build a major deep seaport at Olokola in Ogun State, reviving a stalled project that is expected to be one of Nigeria’s largest port developments. The proposed Olokola deep seaport will sit within the Olokola Free Trade Zone and is designed to handle large vessels and heavy cargo. It is expected to support exports of fertiliser, petrochemicals and, in the future, liquefied natural gas, while also improving the importation of equipment and raw materials for Dangote’s industries. Dangote has already submitted key paperwork to the authorities to move the project forward, after getting renewed support from the Ogun State government and the Federal Government. The port site is planned to be about 100 kilometres from his refinery and fertiliser facilities around Lagos, creating a direct logistics corridor between the plants and the Atlantic coast. […]

Abdulmumini Auwal SA May 20, 2026

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Nigeria

Dangote exports 1.66bn litres fuel amid US–Iran tensions

Dangote Petroleum Refinery has exported an estimated 1.66 billion litres of refined fuel products in April 2026 as global energy markets reel from the impact of the US–Iran war. The record export volume came as buyers in Africa, Europe and other regions scrambled for alternative supplies amid fears of disruptions to traditional shipping routes in the Middle East. Industry reports show that the refinery, Africa’s largest with a nameplate capacity of 650,000 barrels per day, has ramped up shipments of diesel, petrol and jet fuel in recent months. The April figure alone represents a sharp jump compared to earlier months, with exports of aviation fuel rising to an average of about 160,000 barrels per day at the height of the crisis. Analysts say the surge in exports underscores Dangote’s growing role as a stabilising force in regional fuel supply, helping […]

Abdulmumini Auwal SA May 13, 2026

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Nigeria

Dangote Group denies rift with Elumelu, warns of legal action

The Dangote Group has denied reports of a rift between its president, Aliko Dangote, and Tony Elumelu, chairman of the United Bank for Africa, describing the claims as false and malicious. The company said neither Dangote nor the group made any statement suggesting a fallout with Elumelu or disagreements over business dealings. In a statement issued by the group’s spokesperson, Anthony Chiejina, the conglomerate also dismissed viral claims that the Dangote Petroleum Refinery and Petrochemicals project was funded through personal loans from friends. It described such assertions as a misrepresentation of how the multibillion dollar project was financed and challenged those spreading the story to provide verifiable evidence. The company stressed that Aliko Dangote does not rely on borrowing from friends to fund his investments. It added that suggestions that the refinery is struggling financially or dependent on emergency personal […]

Abdulmumini Auwal SA May 3, 2026

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Nigeria

Dangote, NNPC, govs pledge N30.5bn for First Lady’s food bank

Top public and private sector leaders have pledged a total of N30.5 billion to support the National Community Food Bank Programme led by First Lady Oluremi Tinubu. The pledges were announced at an event in Abuja to mobilise resources for the initiative, which is aimed at tackling child malnutrition and hunger across Nigeria. Billionaire businessman Aliko Dangote, through the Aliko Dangote Foundation, made one of the largest commitments in support of the food bank programme. The Nigerian National Petroleum Company Limited and several state governors also announced significant financial contributions to back the nationwide roll out of the scheme. The National Community Food Bank Programme is designed to strengthen nutrition support at community level and improve access to safe, nutritious food for vulnerable children and families. It will operate mainly through primary health centres, which will help identify eligible families […]

Abdulmumini Auwal SA April 2, 2026

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Nigeria

Akpabio, Governors, Dangote, Others Celebrate Tinubu At 74

Political and business leaders across Nigeria have sent goodwill messages to President Bola Ahmed Tinubu as he marks his 74th birthday. They praised his decades of involvement in national politics and his current efforts to steer economic and governance reforms. Senate President Godswill Akpabio described Tinubu as an audacious and visionary leader whose life has been dedicated to Nigeria’s development. He said the President’s journey from pro democracy activism to the presidency shows a consistent commitment to democracy and national progress. Former President Goodluck Jonathan also congratulated Tinubu, commending his role in sustaining democratic institutions and urging continued focus on peace and stability. He prayed for wisdom and strength for the President as he leads the country through economic and security challenges. State governors from different political parties joined in celebrating the President. They highlighted his support for sub national […]

Abdulmumini Auwal SA March 29, 2026

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Nigeria

Iran war may force Nigerians back to working from home – Dangote

Chairman and CEO of Dangote Group, Aliko Dangote, has warned that the ongoing Middle East crisis could push Nigeria and other African countries back to work from home arrangements similar to those used during COVID 19. He said the conflict, involving Iran, Israel and the United States, is driving oil price volatility that could worsen economic hardship across the continent. Dangote spoke after a meeting with President Bola Tinubu at the President’s Ikoyi residence in Lagos. He expressed concern that many African countries have little or no financial reserves to cushion the impact of rising energy costs and global supply disruptions.​ He noted that some countries are already asking people to work from home or reducing work days because they cannot afford high fuel costs. Citing Indonesia as an example, he said workers there now go to the office four […]

Abdulmumini Auwal SA March 24, 2026

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new africa

Dangote predicts naira could strengthen to ₦1,100/$1 in 2026

Africa’s richest man, Aliko Dangote, says the naira could appreciate to around ₦1,100 to the US dollar before the end of 2026 if current government policies and import controls are sustained. He spoke in Abuja during the launch of the Nigeria Industrial Policy, attended by Vice President Kashim Shettima and top private sector leaders. Dangote noted that although the naira is currently trading around ₦1,300–₦1,340 on the official market, recent reforms are already easing pressure on the currency. He argued that blocking “reckless” imports that can be produced locally, alongside tighter foreign exchange management, will help further strengthen the naira. “I can assure you that, with what I know, by blocking all this importation, the currency this year will be as low as ₦1,100 if we are lucky,” he said, while suggesting government might even need to slow the naira’s […]

Abdulmumini Auwal SA February 18, 2026

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Nigeria

Dangote threatens N100bn suit over ‘unclean business’ claim

President of Dangote Group, Aliko Dangote, has given Kaduna based businessman Kailani Mohammed a seven day ultimatum to retract alleged defamatory statements against him or face a N100 billion lawsuit. In a letter sent through his lawyer, Ogwu James Onoja (SAN), Dangote demanded a public explanation, retraction and unreserved apology over remarks made during a Trust TV interview.​ Mohammed had questioned the source of Dangote’s wealth and claimed he engaged in “unclean business” in Port Harcourt in the 1980s. The comments were made while reacting to Dangote’s petition against former NMDPRA chief executive Farouk Ahmed, which alleged misuse of public funds and economic sabotage.​ Dangote’s legal team said the statements were false, malicious and calculated to damage his reputation and business standing at home and abroad. The letter stated that the remarks portrayed him as a corrupt businessman who built […]

Abdulmumini Auwal SA December 22, 2025

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Nigeria

ICPC invites Dangote over 7m dollars school fees claim

The Independent Corrupt Practices and Other Related Offences Commission has invited billionaire businessman Aliko Dangote over his petition against the immediate past chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed. Dangote is expected to appear or be represented by his lawyer, Ogwu Onoja, when a formal investigation into the petition begins on Monday.​ A special panel of investigators was set up on Friday to handle the case, underscoring the importance the commission places on the allegations. ICPC has asked Dangote to submit documents and other evidence to back his claims, stressing that anyone who makes accusations must provide proof or leads for investigators to follow.​ In the petition, submitted on Tuesday through his lawyer, Dangote accuses Farouk Ahmed of corruption, abuse of office, and living far above his means as a public officer. He alleges […]

Abdulmumini Auwal SA December 21, 2025

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