Business
Dangote Refinery to Supply 25 Million Litres of Petrol Daily Starting September 2024
The Dangote Refinery is set to supply 25 million litres of petrol daily to the Nigerian market, starting in September 2024, according to an announcement by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
In a statement released on Tuesday, the NMDPRA revealed that it had convened a meeting with the Nigerian National Petroleum Company Limited (NNPCL) to finalise the supply of local crude oil to the refinery.
During the meeting, it was agreed that NNPCL would sell and supply crude oil to the Dangote Refinery in the local currency.
The NMDPRA stated on its official X (formerly Twitter) account, “NNPCL has reached an agreement to commence the sale and supply of crude oil to the Dangote Refinery in local currency at the NMDPRA headquarters in Abuja.
The refinery is set to deliver an initial supply of 25 million litres of Premium Motor Spirit (PMS) into the domestic market starting this September. By October 2024, this daily supply is expected to increase to 30 million litres.”
This development follows an official announcement by Aliko Dangote, President of Dangote Group, who confirmed that the first rollout of Premium Motor Spirit (PMS) from the 650,000 barrels per day refinery had begun.
Additionally, Dangote mentioned that the Federal Executive Council (FEC) would ultimately determine the pricing of petrol from the refinery, a decision that will likely have significant implications for the Nigerian market.
The Dangote Refinery, one of the largest in Africa, is expected to play a key role in reducing Nigeria’s reliance on imported fuel and addressing the country’s energy needs.
The commencement of domestic petrol production from this refinery is seen as a major milestone for Nigeria’s oil and gas sector.
The Federal Government trains 500 women and youths in food production and agriculture. The programme was started to support food security.
The Federal Ministry of Agriculture and Food Security partnered with the National Horticultural Research Institute (NIHORT).
The women and youths were taught tomato, okra and Telfairia production techniques. The government believes this will help boost agriculture, improve food production and strengthen the economy in Ogun State.
According to reports, fuel stations are reducing their prices a bit. This has become a general thing around Nigeria after the spike due to the removal of subsidy.
The prices are dropping to ₦1,275 and ₦1,299, going lower than ₦1,300 compared to what it was before.
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.
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