Tag: dangote
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President of Dangote Industries, Aliko Dangote has called on wealthy Nigerians and African entrepreneurs to invest in Nigeria and the continent, emphasizing that significant investments are essential for growth and development. He criticized the practice of stashing wealth abroad, noting that other nations invest ill-gotten funds locally to boost their economies. Dangote highlighted his $20bn…
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President of the Dangote Group, Alhaji Aliko Dangote has expressed skepticism about the likelihood of Nigeria’s state-owned Port Harcourt, Warri, and Kaduna refineries becoming operational again, citing that they have cost the government around $18 billion without producing any results. Speaking after a tour of his own 650,000-capacity Dangote Petroleum Refinery in Lagos, he highlighted…
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Dangote Petroleum Refinery plans to cease importing crude oil by December 2025, shifting entirely to local Nigerian crude. Currently, the refinery, which processes around 550,000 barrels daily, sources approximately 53% of its crude domestically and 47% from the U.S. as of June. Contracts with foreign suppliers are expiring, and the company expects to fully transition…
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Despite the Dangote Petroleum Refinery reducing its ex-depot petrol price from N880 to N840 per litre on June 30, many fuel marketers are hesitant to lower their pump prices, fearing potential losses. Marketers explained that they could only consider price reductions after selling off their existing stock purchased at higher prices, around N900 per litre.…
