3 days ago
Although Nigeria is the 7th largest exporter of Crude Petroleum in the world, Dangote Petroleum Refinery in Ibeju-Lekki, Lagos which was inaugurated in May this year and described as the game changer for Nigeria’s economy is currently importing crude oil from outside the country because NNPC cannot sell crude oil to the Dangote refinery.
The dilly-dally by the Nigerian National Petroleum Company Limited (NNPCL) and continuous shifting of the completion of the nation’s three refineries being rehabilitated with about $2.7 billion as well as the delayed coming on stream of the Dangote Refinery...
The House of Representatives has rejected the motion to suspend the license allegedly granted to Dangote Refinery as the sole importer of Petroleum Motor Spirit (PMS) also known as petrol.
On Monday May 22, 2023, policymakers and captains of industries from across the world converged at the Lekki axis of Lagos state for the commissioning of the world’s Largest Single-Train 650,000 barrels-per-day petroleum refinery, built by Dangote Group.
Nigeria started the business of oil refining with a simple hydro-skimming plant of 38,000 barrels per day (bpd) refinery built by Shell-BP, at Eleme, near Port Harcourt, in Rivers State in 1965. The plant was then wholly owned and operated by Shell-BP.
To further bridge existing deficit in supply especially for African-Americans, a developer, Messrs Fatherland Global Corporation, has disclosed plan to build about 500 housing units in Lagos.
African Refiners and Distributors Association (ARDA) said the new Dangote Refinery will reduce the import of high-sulphur fuels in Africa and enable the continent to address foreign exchange vulnerability.
The Independent Petroleum Marketers Association of Nigeria (IPMAN) says the new Dangote refinery will address fuel shortage and price hikes in the country.
The much-awaited Dangote Refinery was commissioned yesterday by President Muhammadu Buhari, promising a shift in the country’s energy economics as well as export-import relations. With an investment of $18.5 billion, the refinery is expected to revolutionise Nigeria’s economy and alter the course of history.
Lagos State governor, Babajide Sanwo-Olu, has said Aliko Dangote contributed to the prosperity of Lagos and also Nigeria by his investments. Sanwo-Olu said this at the Commissioning of Dangote Refinery and Petrochemicals, in Ibeju-Lekki, Lagos on Monday, May 22. Sanwo-Olu described Dangote as a detribalised individuals who saw the wealth of the state and who…
President Muhammadu Buhari on Monday inaugurated Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, which is expected to enable Nigeria to achieve self-sufficiency in refined products and even have surplus for export. Speaking at the occasion attended by Heads of State from Ghana, Togo, Niger, Senegal and a representative of the President of Chad, the President described…
The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, said the Dangote Oil Refinery is expected to generate 12,000 megawatts of electricity and over 135,000 permanent jobs. Emefiele said this on Monday at the official launching of the Dangote Oil Refinery in Lagos State by President Muhammadu Buhari. "Then, we insisted that under…