Business
Dangote Refinery Begins Loading Locally Produced Petrol
The Dangote Refinery has marked a significant milestone as the first batch of trucks has begun loading Premium Motor Spirit (PMS), commonly known as petrol, at the facility.
This development was highlighted in a video shared by the Dangote Group on its official X account, where the company confirmed the commencement of fuel loading.
In the video, the company announced that the trucks are ready to load PMS, signaling a major step toward locally produced petrol being distributed across Nigeria.
The Nigerian National Petroleum Company Limited (NNPCL) had previously confirmed the arrival of over 300 trucks at the Dangote Refinery, prepared to load petrol and begin distribution nationwide.
This marks a historic moment for Nigeria, as it is the first time in several years that the country will be loading and distributing locally refined petrol.
The significance of this achievement goes beyond mere fuel distribution.
It could have far-reaching effects on the nation’s economy, potentially reducing the cost of fuel and curbing long-standing issues of fuel scarcity that have plagued Nigerians.
Finance Minister Wale Edun, alongside Federal Inland Revenue Service Chairman Zacch Adedeji, had earlier confirmed that all necessary agreements were in place for NNPCL to begin lifting petrol from the Dangote Refinery.
Industry stakeholders and petroleum marketers are optimistic that the launch of fuel distribution from the refinery will not only address the recurring problem of fuel shortages but may also lead to a gradual reduction in petrol prices.
This development promises to be a significant leap toward achieving energy independence in Nigeria and fostering more stability in the nation’s fuel market.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
Nigeria’s three biggest cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—generated a combined ₦3.2 trillion in revenue during the first half of 2026.
The strong performance was driven by higher cement prices, increased demand from housing and infrastructure projects, and higher sales volumes across the country.
Compared to the same period in 2025, the companies recorded 26.5% revenue growth, showing that Nigeria’s construction sector continues to expand despite economic challenges. The companies also reported stronger profits and are investing further to increase production capacity to meet future demands.
Nigerian fintech company OPay has introduced new security features to improve the safety of its application.
The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.
The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.
The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.
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