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Dangote Refinery

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Nigeria

Dangote Refinery Reduces Petrol Price to N1,250/Litre

Dangote Petroleum Refinery has reduced the gantry price of petrol by N25 to N1,250 per litre from N1,275 per litre, representing a two per cent decrease. The 650,000-barrels-per-day refinery also adjusted the price of diesel, which was reduced to N1,700 per litre. The price cuts come as traders across Nigeria's major markets have been closely monitoring the refinery's pricing decisions, which influence fuel prices nationwide. Petrol at the Dangote Refinery gantry had previously been sold at N1,275 per litre before the latest reduction. The move is expected to ease pressure on motorists and fuel marketers, who have been grappling with fluctuating petroleum product prices in recent months. The reduction marks the latest development in Nigeria's downstream petroleum sector since the removal of the fuel subsidy and the commencement of large-scale refining operations at the Dangote Refinery, Africa's largest single-train refinery. […]

Abdulmumini Auwal SA May 30, 2026

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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

S&P upgrades Nigeria’s credit rating to ‘B’, cites economic reforms, FX gains

S&P Global Ratings has upgraded Nigeria’s long-term foreign and local currency sovereign credit ratings to ‘B’ from ‘B-’, in what marks the country’s first ratings upgrade by the agency in about 14 years. The outlook on the ratings is stable, while the short-term sovereign ratings were affirmed at ‘B’. In its latest review, S&P said Nigeria’s creditworthiness has improved on the back of President Bola Tinubu’s sustained economic reforms, including FX market liberalisation, subsidy removal and efforts to boost non-oil revenues. The agency noted that the unification and flexibilisation of the exchange rate have bolstered access to foreign currency and supported a more market-driven FX environment. S&P also cited recovering oil production, higher fiscal revenues and rising external reserves as key factors behind the upgrade. It pointed to improved external buffers helped by better FX liquidity, inflows from multilateral lenders […]

Abdulmumini Auwal SA May 16, 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

NMDPRA boss targets energy reform, improved fuel supply

The Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Umar Rabiu, has outlined an ambitious agenda to reform Nigeria’s energy sector and strengthen fuel supply nationwide. Rabiu, recently nominated by President Bola Tinubu to lead the regulator, said his priority is to eliminate bottlenecks in the petroleum supply chain and guarantee consistent availability of petrol, diesel and other key products. Speaking at recent industry engagements and in a series of public statements, he pledged to focus on energy security, improved infrastructure and better coordination with operators and other government agencies. He stressed that the Authority would maintain strategic stock buffers and strengthen monitoring of depots, filling stations and transport corridors to curb product hoarding and sharp practices. Rabiu’s agenda builds on ongoing reforms under the Petroleum Industry Act, which current and former NMDPRA leaders say have […]

Abdulmumini Auwal SA May 8, 2026

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Nigeria

Soldiers arrest 15 suspected oil thieves at Dangote Refinery

Troops of the Nigerian Army have arrested 15 suspected oil thieves around the Ibeju Lekki area of Lagos State.​ According to an operational report made available to the News Agency of Nigeria on Friday in Abuja, the suspects were arrested in the early hours of the day by troops of Headquarters 9 Brigade working with 65 Battalion. The operation followed credible intelligence on planned illegal activities in the area.​ The report explained that the suspects were intercepted while trying to illegally tap into a crude oil discharge point from a vessel supplying crude to the Dangote Refinery.​ It stated that the vessel was discharging crude oil meant for the production of Premium Motor Spirit and Automotive Gas Oil when the suspects were caught attempting to connect pipes to the discharge point.​ The troops arrested 15 people at the scene and […]

Abdulmumini Auwal SA April 17, 2026

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Togo

Le Togo reçoit du carburant de Dangote

Le Togo fait partie des premiers pays africains à recevoir des produits pétroliers raffinés en provenance de la Dangote Oil Refinery, un nouvel acteur majeur qui renforce progressivement sa présence sur le marché régional depuis le début de l’année 2026. D’après des données relayées par plusieurs sources, la raffinerie a déjà exporté 12 cargaisons, soit environ 456 000 tonnes de produits raffinés, à destination de cinq pays africains, dont le Togo. Ces expéditions interviennent après que le site a atteint sa pleine capacité de production, estimée à 650 000 barils par jour en février 2026. Cette dynamique s’inscrit dans un contexte marqué par des tensions sur les marchés internationaux de l’énergie, notamment liées aux incertitudes géopolitiques au Moyen-Orient, qui pèsent sur les coûts et la disponibilité des carburants. Jusqu’ici, la majorité des pays africains dépendaient largement des importations de produits […]

Abubakar March 25, 2026

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Togo

Le Togo reçoit du carburant de Dangote

Le Togo fait partie des premiers pays africains à recevoir des produits pétroliers raffinés en provenance de la Dangote Oil Refinery, un nouvel acteur majeur qui renforce progressivement sa présence sur le marché régional depuis le début de l’année 2026. D’après des données relayées par plusieurs sources, la raffinerie a déjà exporté 12 cargaisons, soit environ 456 000 tonnes de produits raffinés, à destination de cinq pays africains, dont le Togo. Ces expéditions interviennent après que le site a atteint sa pleine capacité de production, estimée à 650 000 barils par jour en février 2026. Cette dynamique s’inscrit dans un contexte marqué par des tensions sur les marchés internationaux de l’énergie, notamment liées aux incertitudes géopolitiques au Moyen-Orient, qui pèsent sur les coûts et la disponibilité des carburants. Jusqu’ici, la majorité des pays africains dépendaient largement des importations de produits […]

Abubakar March 25, 2026

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Nigeria

Crude hits 114 as fears grow over fresh petrol price hikes in Nigeria

There are fresh concerns that petrol prices in Nigeria could rise further after Brent crude oil jumped to about 114 dollars per barrel following a sharp escalation in the United States and Israel war on Iran . Petrol is already selling for between N1,200 and N1,400 per litre in parts of the country, up from around N730 to N880 per litre before the conflict began on February 28 . Global prices surged after Israel struck Iran’s South Pars gas field, the world’s largest gas deposit, prompting Iranian missile and drone attacks on energy facilities in Qatar and Saudi Arabia and triggering fears of wider disruption to supplies . Brent crude rose by about 6.24 percent to 114.08 dollars per barrel, its highest level since May 2022, while US West Texas Intermediate crude climbed to around 96.33 dollars per barrel . […]

Abdulmumini Auwal SA March 20, 2026

Nigeria

FG weighs options as Iran war pushes petrol above N1,000

The Federal Government is assessing its economic and diplomatic options as the war involving Iran, the United States and Israel begins to hit Nigerians through higher fuel prices and fresh pressure on the economy. Officials are closely tracking developments in the Middle East, where attacks on oil facilities, shipping disruptions and tensions around strategic waterways have driven up global crude prices. The conflict has already pushed Brent crude well above Nigeria’s 2026 budget benchmark, raising both risks and opportunities for Africa’s largest oil producer. On the domestic front, petrol prices have crossed or neared N1,000 per litre in many locations, with queues reappearing at filling stations across parts of the country. Marketers and analysts link the spike to higher international crude and freight costs, as well as supply constraints and the impact of the conflict on global refinery output and […]

Abdulmumini Auwal SA March 8, 2026

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