Dangote Petroleum Refinery and Petrochemicals FZE (DPRP) has successfully completed a landmark Private Equity Placement that raised approximately US$2.5 billion in new equity, following a highly successful offering. The transaction, which is believed to be Africa’s largest publicly disclosed primary equity private placement, marks a significant milestone in the history of the company and demonstrates…
Nigeria has retained one of the lowest petrol prices globally despite recent increases driven by geopolitical tensions in the Middle East, with industry data pointing to the stabilising role of Dangote Petroleum Refinery & Petrochemicals in cushioning the domestic market. According to GlobalPetrolPrices.com, petrol in Nigeria currently averages $0.88 (N1,191.39) per litre, significantly below the…
Dangote Industries Limited (DIL) and GCL Group, China’s leading private energy conglomerate, have formalized a landmark US$4.2 billion, 25‑year natural gas supply agreement to power Dangote Group’s major expansion projects in Ethiopia. The agreement, signed in Lagos, reinforces one of the most significant China–Africa industrial partnerships to date. Under the long‑term arrangement, GCL Group will…
The management of Dangote Petroleum Refinery has announced a major reduction in the prices of Premium Motor Spirit (PMS), commonly known as petrol, and Automotive Gas Oil (AGO), also known as diesel. This strategic adjustment is aimed at easing the financial burden on consumers and supporting broader economic stability across Nigeria. Under the new pricing…
Africa is increasingly becoming a destination for cheap, often toxic petroleum products — many of which are blended to substandard levels that would not be permitted in Europe or North America. This concern was raised by the President/Chief Executive, Dangote Industries Limited, Aliko Dangote, during the ongoing West African Refined Fuel Conference held in Abuja.…
Dangote Petroleum Refinery has invested over N720 billion to implement its landmark initiative of deploying 4,000 Compressed Natural Gas (CNG)-powered trucks for the nationwide distribution of petroleum products, which is expected to save Nigerians over N1.7 trillion annually. This bold step will see the privately-owned refinery absorb over N1.07 trillion annually in fuel distribution costs.…
Dangote Petroleum Refinery & Petrochemicals has announced that it will refund customers who purchase Premium Motor Spirit (PMS) at rates higher than the advertised prices from any of its key partners – AP (Ardova Plc), Heyden, or MRS – across Nigeria. This move follows the refinery’s recent reduction of its gantry price from N890 per…
Dangote Petroleum Refinery recently achieved a significant milestone by successfully exporting two jet fuel cargoes to Saudi Aramco, the world’s largest oil producer and a leading integrated oil and gas company globally. Saudi Aramco is the official Saudi Arabian Oil Company, which is a majority state-owned petroleum and natural gas company that is the national oil company of Saudi Arabia. President of Dangote Group,…
Dangote Cement has been honoured with the top prize at the inaugural Corporate Reporting Award, jointly organized by the Institute of Chartered Accountants of Nigeria (ICAN) and NGX Regulation Limited. The leading cement manufacturer received the Platinum award for excelling across all three reporting categories, showcasing exemplary reporting practices that comprehensively address all relevant aspects…
Dangote Petroleum Refinery has commenced production of diesel and aviation fuel. President of Dangote Group, Alhaji Aliko Dangote, elatedly thanked President Bola Ahmed Tinubu for his support, encouragement, and thoughtful advice towards the actualisation of this project. Dangote also thanked the Nigerian National Petroleum Company Limited (NNPC Limited), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC),…