The Chairman of Dangote Group, Aliko Dangote, has said his $20 billion 650,000 barrels per day Lagos-based refinery will crash the price of fuel as it reduced the price of diesel in Nigeria. Dangote disclosed this at a recent Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas.
The Chairman of Dangote Group, Aliko Dangote , has said his $20 billion 650,000 barrels per day Lagos-based refinery will crash the price of fuel as it reduced the price of diesel in Nigeria. Dangote disclosed this at a recent Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas.
“With the currency now back up to about N1,500 per dollar, the price is still below N1,200. That’s a big improvement, from N1,700 to N1,200. And the diesel is available, we are not living from hand to mouth anymore,” Dangote replied when asked about a possible petrol price cut. “The country doesn’t have strategic reserves in terms of petrol, which is very dangerous. But in our plant now, when you came, we had only 4.78 billion liters of various tankage capacity.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dangote reveals date for Refinery to commence fuel supply in NigeriaAliko Dangote, the Chairman of the Dangote Group, has said that all things being equal, Nigeria will not need to import Premium Motor Spirit, known as fuel, in June 2024.
Read more »
Dangote Refinery announces fresh date to commence fuel supply in NigeriaDangote Refinery has announced July 10–15, 2025, as the new date to commence supply of Premium Motor Spirit (fuel) to the Nigerian market. The President of Dangote Group, Aliko, disclosed this recently during a tour of the 650,000 barrel per day capacity Refinery by the Governor of Lagos State, Babajide Sanwo-Olu.
Read more »
Why Dangote Refinery can’t get enough crude supply from IOCs in NigeriaThe Lagos State Chamber of Commerce and Industry has blamed oil theft and vandalization of pipelines for the poor supply of crude to Dangote Refinery and other local refineries. The Director General LCCI, Dr Chinyere Almona disclosed this in a recent statement while reacting to poor crude oil supply to local refineries in Nigeria.
Read more »
Nigeria will end fuel imports by June — DangoteDangote made this announcement at the Africa CEO Forum Annual Summit in Kigali, the Rwanda capital, on Friday, expressing optimism about
Read more »
Nigeria will end fuel imports by June — DangoteDangote made this announcement at the Africa CEO Forum Annual Summit in Kigali, the Rwanda capital, on Friday, expressing optimism about
Read more »
Nigeria’s Dangote Refinery returns to US for 24m barrels of crudeNigeria's $20 billion Dangote Refinery has reportedly issued a term tender to buy two million barrels of US crude oil monthly. This is according to a recent report by Bloomberg. The 650,000-barrel refinery established by Africa's richest man, Aliko Dangote, is exploring all routes to achieving 100 per cent production capacity.
Read more »