Business

“Petrol Pricing to be Set by Federal Executive Council” – Dangote

Published

2 years ago

September 3, 2024

Photo source: Google

Aliko Dangote, President of the Dangote Group, has disclosed that the pricing of the Premium Motor Spirit (PMS) from his new refinery will be set by the Federal Executive Council, chaired by President Bola Ahmed Tinubu.

In an interview with Channels Television, Dangote shared this development following the announcement of the refinery’s first batch of petrol from its 650,000-barrel-per-day facility, which took place on Tuesday.

He explained that the petrol from the refinery will become available at filling stations within the next 48 hours, contingent on the Nigerian National Petroleum Company Limited (NNPCL).

Dangote also mentioned that discussions are nearing completion between the $20 billion refinery and NNPCL to ensure the product reaches consumers throughout Nigeria.

He emphasized that the Federal Executive Council, under the leadership of President Tinubu, will determine the final price of the petrol.

“The pricing of the PMS is a process managed and approved by the Federal Executive Council, chaired by His Excellency, President Bola Ahmed Tinubu.

Once the arrangements are finalized, which could happen either today or tomorrow following the FEC meeting, we are prepared to launch the product in the market,” Dangote stated.

Business

Bitcoin Falls Below $63,000 to Lowest Level Since October 2024

Published

3 days ago

October 7, 2026

Ese Ohwofa

Bitcoin has fallen below $63,000, reaching its lowest level since October 2024 amid weakening investor confidence and increased volatility in the cryptocurrency market.

According to CoinMarketCap data, Bitcoin dropped 13.9 per cent to $62,965 as of 10:20 p.m. on Thursday. The decline comes after months of downward movement, with the cryptocurrency now more than 45 per cent below its October peak.

Ethereum also recorded a sharp decline, falling 13 per cent to $1,863, while the global cryptocurrency market capitalisation dropped to $2.19 trillion.

Analysts reportedly linked the latest decline to a broader sell-off in US technology stocks, which has also affected other risk assets. Bitcoin had reached an all-time high of more than $125,000 on October 5 before falling sharply in the days that followed, highlighting the continued volatility in the crypto market.

Business

‘That Is the Only Way to Spread Prosperity’ — Dangote on Refinery Shares

Published

3 weeks ago

September 23, 2026

Ese Ohwofa

Businessman Aliko Dangote has explained why he believes Nigerians should participate in the ownership of his refinery by purchasing shares.

He was asked by singer Davido why Nigerians should participate, and Dangote explained that the initiative would help spread wealth and prosperity across Africa.

“Well, it’s very important because that is the only way to spread prosperity and wealth throughout Africa. And like I said, this is not going to be the first and the last. We will continue with even our fertilizer. By the time we finish listing, every single one will own part of our businesses and we will create a pool of cash…”

He explained that the goal is to create opportunities for more Nigerians to own a stake in the businesses and help spread wealth across the country.

Business

Aliko Dangote Speaks on His Children and Carrying on His Family Name

Published

4 weeks ago

September 15, 2026

Ese Ohwofa

Aliko Dangote speaks on his lineage and addresses not having a son as he was asked about not having a son to carry his name and achievements.

“That is not my priority because God controls everything. You can pray for God to give you a son, but he might be the one to take down the name of the family.”

Instead, he shared that he does not mind not having a son. “I don’t think a son would have done better than the three daughters I have.”

Aside from that, he was also asked about giving advice to young Nigerians. “Work hard, be consistent, focused and know what you want to do.”