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Dangote Refinery Holds N600bn Fuel Stockpile, Vows Market Stability

The President of Dangote Industries Limited (DIL), Aliko Dangote, has disclosed that his company’s petroleum refinery has over N600 billion worth of petrol in storage, sufficient to meet Nigeria’s domestic demand. Dangote’s statement counters that of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which recently claimed that only 50 per cent of the […]

NNPCL vs. Dangote Refinery: Court to Decide on Jurisdiction Dispute

Justice Inyang Ekwo of the Federal High Court in Abuja has fixed 18 March for ruling on a preliminary objection filed by the Nigerian National Petroleum Company Limited (NNPCL) against a lawsuit brought by Dangote Petroleum Refinery and Petrochemicals FZE over an oil import licence dispute. Justice Ekwo set the date after hearing arguments from […]

Price Cuts by NNPCL and Dangote Refinery Spark Market Rivalry

The Nigerian National Petroleum Company Limited (NNPCL) has reduced the ex-depot price of petrol to ₦899 per litre, following a similar price adjustment by the Dangote Refinery. This reduction marks a significant step in the competitive landscape of Nigeria’s downstream oil sector. PETROAN, the association of petroleum retailers, praised the move as a “significant milestone” […]

IPMAN Partners Dangote Refinery to Distribute Fuel Distribution

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has entered into a direct supply agreement with Dangote Refinery to streamline product distribution. This development was disclosed in Abuja on Monday by IPMAN National President Abubakar Garima, following a National Working Committee meeting. According to Garima, the collaboration aims to ensure a consistent and affordable supply […]

NNPC Ends Fuel Imports, Focuses on Dangote Refinery to Meet Local Demand

The Nigerian National Petroleum Company Limited (NNPC) announced an end to decades of fuel importation, declaring its shift to sourcing all petroleum products domestically from the 650,000 barrels per day Dangote Refinery in Lagos. The move, expected to save Nigeria approximately $10 billion annually, was announced by NNPC’s Group Chief Executive Officer, Mele Kyari, at […]

Petrol Price Battle: PETROAN Claims Dangote’s High Prices Harm Market Competition

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has accused Dangote Refinery of attempting to suppress competition in the downstream sector. PETROAN’s accusation follows Dangote Refinery’s recent statement that marketers criticising its petrol prices only sought to import lower-quality products at reduced prices. According to Channels TV, Dangote Refinery disclosed on Sunday that […]

Dangote Group to Withdraw ₦100bn Lawsuit as Conciliatory Talks Progress

In a surprising development, the Dangote Group has announced plans to withdraw its ₦100bn lawsuit against the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). The suit had been filed in opposition to the granting of import licences to the Nigerian National Petroleum Company Limited (NNPCL), Matrix Petroleum Services Limited, AA Rano Limited, and four […]

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