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Dangote Refinery Extends IPO Subscription Period by Two Weeks to October 27

Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has extended the application period for its initial public offering (IPO) by two weeks, following approval from the Securities and Exchange Commission (SEC). The company said the extension followed exceptionally strong interest from eligible investors across Africa and international markets, describing the offer as one of the most […]

Nigeria Lacks Enough Crude to Supply Dangote Refinery, Says Oyedele

The Federal Government says Nigeria’s crude oil production is insufficient to supply the Dangote Refinery while also meeting the needs of other domestic refiners. The Minister of Finance, Taiwo Oyedele, made this known on Friday amid calls for a production subsidy to help the Dangote Refinery meet domestic demand for refined petroleum products. “ So […]

Dangote Says Refinery Investors Will Receive Dollar Dividends

President of the Dangote Group, Aliko Dangote, has assured investors in Dangote Petroleum Refinery and Petrochemicals FZE that dollar-denominated dividends could help parents with children studying abroad meet their school fees, even if the naira depreciates. The billionaire entrepreneur gave the assurance on Monday on the trading floor of the Nigerian Exchange (NGX) in Lagos, […]

Dangote Says Refinery IPO Aims to Democratise Wealth Creation

President of the Dangote Group, Aliko Dangote, has said the planned initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE is aimed at making wealth creation accessible to ordinary Nigerians and other investors, rather than raising funds for the conglomerate. The billionaire entrepreneur made this known on Monday on the trading floor of […]

Zenith Bank Opens Digital, Branch Channels for Dangote Refinery IPO

Nigerians at home and in the diaspora seeking to participate in the landmark initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals can subscribe through Zenith Bank, a receiving bank and designated electronic application channel for the historic transaction. Subscriptions are available through the Zenith Bank website, mobile app, internet banking, USSD, corporate internet […]

Dangote: Africa Must Take Bold Steps to Earn Global Respect

President and Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has called on Nigeria and other African countries to take bold steps to drive change and prosperity across the continent. Dangote said Africa must take deliberate steps to develop its economy and strengthen its institutions if it wants Europe and other continents to take […]

Dangote Refinery Raises Petrol Supply as Processing Capacity Reaches 700,000 Barrels Per Day

Dangote Petroleum Refinery & Petrochemicals has stepped up local supplies of Premium Motor Spirit (PMS), otherwise known as petrol, as the facility’s crude processing capacity rose to 700,000 barrels per day (bpd), according to findings by Channels Television. Checks by our correspondent showed that supplies to the refinery’s partner outlets, including MRS stations, increased between […]

Dangote Refinery Cuts Petrol Price By ₦100 To ₦1,075 Per Litre

The Dangote Refinery on Tuesday reduced its ex-gantry price of petrol to ₦1,075 per litre, representing a ₦100 drop from the previous rate of ₦1,175 per litre. The Dangote Group’s Chief Communications Officer, Mr. Anthony Chiejina, confirmed the development in a telephone interview with Channels Television, adding that petrol supplied through coastal distribution will now […]

Dangote Refinery Says Global Crude Prices, Freight Costs Driving Fuel Price Increases

Dangote Petroleum Refinery has said it remains fully exposed to international commodity markets, including crude oil prices, freight charges, insurance costs, and financing expenses. The refinery explained that volatility in global oil markets is increasing operational costs. The Managing Director and Chief Executive Officer of Dangote Petroleum Refinery, Mr. David Bird, who spoke at a […]

Dangote Refinery Raises Petrol Price to ₦1,175/Litre, Diesel to ₦1,620/Litre

Dangote Petroleum Refinery has revised its ex-depot prices, increasing the gantry price of Premium Motor Spirit (PMS), commonly known as petrol, to ₦1,175 per litre, while Automotive Gas Oil (AGO), or diesel, has been raised to ₦1,620 per litre. The latest adjustment marks the fourth consecutive price review in less than two weeks amid volatility […]

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