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