Business

NNPCL, Dangote Refinery in Talks to Roll Out Cheaper Petrol by September 15

Published

2 years ago

September 13, 2024

Photo source: Google

The Nigerian National Petroleum Company Limited (NNPCL) has confirmed ongoing negotiations with Dangote Refinery for the purchase of Premium Motor Spirit (PMS), commonly known as petrol, ahead of the refinery’s planned rollout on Sunday, September 15, 2024.

Olufemi Soneye, the spokesperson for NNPCL, shared this during an interview on Thursday.

His comments were in response to a recent statement made by Devakumar Edwin, Vice President of Dangote Industries Limited, who mentioned that local petrol marketers have been avoiding the purchase of fuel from Dangote Refinery, even though it is being offered at lower prices.

Soneye, however, disagreed with the notion that local marketers would boycott a more affordable product.

He expressed optimism that the lower prices being offered by Dangote Refinery would be attractive to the local market, making a boycott improbable.

“I don’t believe local marketers will boycott PMS with lower prices; that seems unlikely,” he said.

He went on to emphasize that NNPCL is currently engaged in discussions with Dangote Refinery to finalize the pricing of petrol, as the company looks forward to the refinery’s official commencement of PMS supply.

“We are currently negotiating prices with Dangote Refinery. We were informed that it would be available by September 15, so we are waiting for that,” Soneye added.

In a previous update, Adedapo Segun, Executive Vice President of NNPCL’s Downstream sector, had confirmed that NNPCL would indeed be lifting petrol from Dangote Refinery once the product becomes available.

This announcement comes on the heels of an early September statement made by the President of Dangote Group, who officially revealed the long-anticipated launch of the refinery’s petrol output.

The success of these negotiations and the timely supply of petrol from Dangote Refinery could mark a significant shift in the Nigerian fuel market.

This collaboration between NNPCL and the refinery is expected to address local fuel demands more efficiently, potentially bringing down prices and reducing Nigeria’s dependence on imported fuel.

Business

OPay Introduces New Security Features for Customers

Published

16 hours 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.

Business

Nigeria’s Agricultural Sector Cannot Thrive Without Investment – FG

Published

5 days ago

June 24, 2026

Ese Ohwofa

The Federal Government of Nigeria has spoken on the agriculture sector of the country and shared that, in its current state, it needs more capital as it cannot stand alone without it.

They stated that even more capital will be needed in order to transform the agricultural sector and improve food production in Nigeria.

“Relying solely on public capital will not suffice to finance the transformation of Nigeria’s agricultural sector. Similarly, private capital will not be mobilised at the necessary scale unless the associated risks are comprehensively understood, appropriately allocated, and effectively managed.”