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Browsing: Dangote oil refinery
- This [gasoline production] will eliminate all fuel queues in Nigeria. This will improve the health of everybody. This will also make sure that there is consistent supply to the market, says Aliko Dangote.
- Refinery hailed as a big step in weaning Nigeria from its heavy reliance on imported oil products.
- Its capacity to export surplus products, such as aviation jet fuel and diesel, offers additional revenue streams for the country.
Nigeria’s energy sector is poised to experience a monumental shift as the Dangote Oil Refinery, a $20 billion investment on the outskirts of Lagos, started gasoline production on Monday. According to media reports, this development marks a big step towards reducing the country’s heavy reliance on imported oil products.
The refinery, which began operations in January, is set to revolutionize Nigeria’s oil industry, promising to address long-standing challenges that have plagued the nation for decades.
“It’s a very historic, monumental …
- The raid conducted by Nigeria’s anti-graft commission on Dangote’s office on January 4 is sending chills across the boardrooms of businesses in the country.
- Manufacturers in Nigeria express concern that if such an event can happen to Dangote, Africa’s richest man, then it could happen to any one of them.
- The raid is believed to be part of an extensive probe into Dangote, a former Central Bank governor, and the foreign exchange transactions that he oversaw.
A raid conducted by anti-graft agents on the offices of Aliko Dangote on January 4 is sending chills across the boardrooms of businesses and investors in Nigeria, even though sector players were anticipating it.
Dangote, arguably the richest person in Africa by far, owns an empire that controls the Nigerian corporate world and is the former head of Nigeria’s Central Bank.
In May 2023, Dangote completed a massive oil refinery with considerable fanfare, just …
The Nigerian government has taken various steps to address the persistent fuel shortages, including rehabilitating the country’s refineries, the establishment of new refineries, and promoting private sector investment in the downstream sector. However, progress has been slow, and the problem persists. However, the Dangote oil refinery’s boost to Nigeria’s oil refining capacity should help the government in its quest to address the persistent fuel shortages and end the energy sector crisis.…
As the World shakes off the effects of Covid-19, the global energy sector has a long way to go to recover, but the baby steps have begun.
In his remarks at the 20th Meeting of the Joint Ministerial Monitoring Committee (JMMC), mid last month, the OPEC Secretary General, Mohammad Sanusi Barkindo, underscored the devastating impact of the Covid-19 pandemic and what he described as ‘…its complete disruption of daily life.’
“These monthly meetings of both the JTC and the JMMC send a reassuring message that we are ready, willing and able to address shifting market conditions”, he said during the video conference.
The SG maintained that ‘…the historic actions taken by OPEC and its partners in the DoC have contributed to an improved balance in the oil market compared to the situation in April, however, the JTC and JMMC must remain vigilant in monitoring market conditions.”
While the global …