Dangote Refinery Reduces PMS Price From N990 to N970 as a Year-End Thanks to Nigerians

Published

2 years ago

November 24, 2024

Photo source: Google

In a move aimed at easing fuel costs for Nigerians, Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit (PMS) from N990 per litre to N970.

This change is due to the year drawing to a close, reflecting the refinery’s gratitude to Nigerians for their continuous support and the government’s efforts in fostering local enterprise.

The statement released by the refinery emphasizes the company’s commitment to quality and sustainability.

“This is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a reality,” it reads.

The company also showed its appreciation for the government’s backing, noting that the reduction aligns with measures to bolster domestic enterprise for national growth and well-being.

The Dangote Refinery, a groundbreaking project in Africa’s oil and gas industry, has positioned itself as a key player in Nigeria’s energy sector.

Launched to address the nation’s dependence on imported petroleum products, the facility is the largest single-train refinery in the world, capable of refining 650,000 barrels of crude oil daily.

This capacity is expected to significantly impact Nigeria’s fuel supply, reducing import dependency and ensuring stable availability.

The refinery reassured Nigerians of its determination to ramp up production to not only meet but surpass the country’s fuel consumption demands.

“We assure you of best quality products that are environmentally friendly and sustainable,” the statement added.

MTN Advances IHS Holding Acquisition Following Shareholder Approval

Published

5 days ago

August 5, 2026

Ese Ohwofa

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.

Business

Nigeria’s Top Cement Makers Generate ₦3.2 Trillion in Six Months

Published

5 days ago

August 5, 2026

Ese Ohwofa

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.

Business

OPay Introduces New Security Features for Customers

Published

1 month ago

June 29, 2026

Ese Ohwofa

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.