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Dangote Refinery

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Nigeria

Dangote refinery price cut triggers brutal petrol war, heavy losses for importers and marketers

Nigeria’s downstream petroleum sector is in the middle of what operators describe as an intense price war following the decision by the Dangote Petroleum Refinery to sharply reduce its gantry price for Premium Motor Spirit from N828 to N699 per litre. The move has forced fuel importers, depot owners and retail marketers to cut prices aggressively, even as the refinery admits it is also losing money under the new price regime.​ Estimates based on consumption and supply data suggest that petrol importers could lose about N102.48bn every month if they match Dangote’s prices. With the refinery now selling N129 per litre cheaper than the prevailing import landing cost, analysts say depot owners who offload cargo at Dangote-level prices would be taking a loss of about N129 on every litre sold, amounting to roughly N3.41bn daily. Dangote Refinery itself is projected […]

Abdulmumini Auwal SA December 16, 2025

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Nigeria

Dangote to Nigerian elites: Skip Rolls Royce, invest in industries

Dangote Group Chairman, Aliko Dangote, has urged wealthy Nigerians to divert money spent on luxury items like Rolls Royce cars and private jets into building industries that create jobs and drive economic growth.​ Speaking after a meeting with President Bola Tinubu at the Presidential Villa, he lamented a culture of conspicuous consumption and recalled that, in earlier years, even presidents used modest official cars, which discouraged elites from outspending the state on luxury.​ He said anyone who can afford a Rolls Royce should instead establish factories in their communities or anywhere in Nigeria where investment is needed, arguing that many of the private jets crowding local airports could have been productive industrial assets.​ Dangote stressed that Nigeria’s development hinges on strong local investment in manufacturing and agriculture, backed by a solid banking system, and warned that rapid population growth of […]

Abdulmumini Auwal SA December 7, 2025

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Nigeria

Dangote, Depots Cut Petrol Gantry Price to N840

Dangote Petroleum Refinery and several major depot operators have reduced the average gantry price of Premium Motor Spirit to N840 per litre, from N843 per litre. The adjustment follows a drop in global crude prices, with Brent crude trading at about 62 dollars per barrel over the weekend, easing refining and supply costs.​ Market data show that Dangote Refinery, AIPEC and NIPCO have all pegged their depot selling price at N840 per litre. Some others are slightly higher, with Rainoil at N844, Sigmund and Master Energy at N858 and Northwest at N850 per litre.​ Meanwhile, eight OPEC plus countries, including Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria and Oman, met virtually on 30 November 2025 to review market conditions and the outlook for early 2026. They confirmed an earlier decision to pause planned production increases in January, February […]

Abdulmumini Auwal SA December 1, 2025

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Nigeria

Dangote Refinery Says Price Cut Prompted Reduction in Pump Prices

Dangote Petroleum Refinery has clarified that the recent reduction in pump prices by oil marketers was driven primarily by its own cut in PMS gantry and coastal prices—not by a reversal of the Federal Government’s 15% import tariff. In a statement, the refinery described reports linking the price adjustment to government policy as “false, misleading, and inconsistent with market dynamics.” On November 6, Dangote cut its PMS gantry price from ₦877 to ₦828 per litre (down 5.6%) and its coastal price from ₦854 to ₦806 per litre. These changes, implemented ahead of wider market adjustments, were publicly announced across leading media outlets. Dangote emphasized its role in ending seasonal fuel scarcity, citing repeated price reductions, absorption of logistics costs, and a long-standing commitment to nationwide price uniformity. The refinery also condemned the practice of importing substandard fuel, which it said […]

Abdulmumini Auwal SA November 17, 2025

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Nigeria

Dangote Refinery Assures Steady Fuel Supply as Output Surpasses Demand

The Dangote Petroleum Refinery has assured Nigerians of a steady fuel supply during the upcoming festive season, announcing that its daily output of petrol and diesel now exceeds the nation’s consumption levels. In a statement on Saturday, the Group Chief Branding and Communications Officer of Dangote Industries Limited, Anthony Chiejina, said the refinery currently produces over 45 million litres of petrol and 25 million litres of diesel per day. “Our production capacity surpasses national demand,” Chiejina said. “We are collaborating with regulators and distributors to ensure efficient delivery across the country. Dangote remains committed to powering Nigeria.” He explained that the refinery’s growing domestic refining capacity has helped stabilize the naira by reducing foreign exchange outflows and supporting local currency inflows. Backing the federal government’s newly introduced tariff policy on fuel imports, Chiejina described it as a vital measure to […]

Abdulmumini Auwal SA November 1, 2025

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Nigeria

Nigerians Anxious as Depot Petrol Price Climbs to ₦889 per Litre

Nigerians are growing increasingly uneasy as the depot price of Premium Motor Spirit (PMS), popularly known as petrol, climbed to ₦889 per litre on Thursday, up from ₦887 the previous week. Data obtained by Vanguard showed Matrix sold at the highest price of ₦889 per litre, while Aiteo offered the lowest at ₦871 per litre. Other key operators such as Dangote Petroleum Refinery, Eterna, AA Rano, and AYM Ashafa sold at ₦877, ₦874, ₦871, and ₦885 per litre, respectively. The development comes as downstream operators warn that the pump price of petrol could exceed ₦1,000 per litre once the federal government’s newly approved 15% fuel tax takes effect after a 30-day transition period ending November 21, 2025. Speaking to Vanguard, Dr. Billy Gillis-Harry, National President of the Petroleum Retail Outlets Owners Association of Nigeria (PETROAN), said members would work with […]

Abdulmumini Auwal SA November 1, 2025

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Nigeria

Dangote Redeploys Sacked Refinery Engineers to Remote Posts

The Dangote Group has rehired the engineers it dismissed last month from its refinery, but is reassigning them to remote locations across Nigeria, including states with security concerns. The engineers, some of whom were graduate trainees, have been offered new positions under "Dangote Projects Limited." Their new postings are to sites in Borno, Zamfara, Benue, Ebonyi, Kebbi, Niger, and Sokoto states. These assignments include a coal mine in Benue, road construction sites, and rice processing plants. According to the offer letters, the employees have 14 days to report to their new locations or face termination. However, the affected workers have raised serious concerns. They state that the letters do not provide specific office addresses in these states and that some of the postings are in areas known for insecurity. The workers' union, PENGASSAN, has advised them not to accept the […]

Abdulmumini Auwal SA October 28, 2025

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Nigeria

Dangote Refinery to expand capacity from 650,000 to 1.4 million barrels daily

The Dangote Petroleum Refinery has unveiled plans to expand its production capacity from 650,000 barrels per day (bpd) to 1.4 million bpd, a move that will make it the largest refinery in the world once completed. President of the Dangote Group, Alhaji Aliko Dangote, announced the development during a press briefing in Lagos on Sunday, stating that the expansion work will commence immediately. According to Dangote, the project will position the refinery ahead of India’s Jamnagar Refinery, which currently holds the title of the world’s largest. “We are expanding the Dangote Petroleum Refinery from 650,000 barrels per day to 1.4 million barrels per day. Upon completion, this will make it the largest refinery in the world, surpassing the Jamnagar Refinery in India,” Dangote said. He explained that the expansion project will create about 65,000 jobs, with 85 percent reserved for […]

Abdulmumini Auwal SA October 26, 2025

Nigeria

Reps Drop Legal Move, Opt to Mediate Dangote Refinery Labour Dispute

The House of Representatives has decided to mediate the labour dispute between unions and the Dangote Refinery, abandoning a more confrontational legal approach. This follows a heated debate over a motion that sought to use the NEPZA Act to shield the refinery from union activities, arguing it is a strategic national asset in a Free Trade Zone. The motion's sponsors claimed recent strikes disrupted production and violated laws that exempt such zones from standard labour rules. However, other lawmakers cautioned against taking sides without a proper investigation. They argued that the parliament must hear from both the labour unions and the Dangote Group before making a decision. After intense discussions, the House rejected the motion to enforce the NEPZA Act. Instead, it unanimously adopted a resolution mandating its leadership, led by the Speaker, to personally mediate between the two parties […]

Abdulmumini Auwal SA October 21, 2025

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Nigeria

 Petrol Price Nears ₦1,000/Litre as Marketers Plan Imports

The price of petrol is approaching ₦1,000 per litre in major Nigerian cities, prompting petroleum marketers to initiate plans for independent importation to stabilize the market. Marketers have blamed the price surge on supply constraints and production issues at the Dangote Refinery, which led private depot owners to significantly increase their ex-depot prices. This has forced retailers, including the NNPC, to adjust pump prices upwards. The National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN) confirmed that members of the Depot and Petroleum Products Marketers Association (DAPPMAN) are finalizing arrangements to import petrol. He stated that increased competition from these imports is expected to drive prices down in the coming weeks. Analysts warn that the soaring fuel cost threatens to trigger a fresh wave of price shocks across transportation, food, and manufacturing sectors.

Abdulmumini Auwal SA October 15, 2025

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