Business
BREAKING: Dangote promises to refund customers who buy petrol above market price from key partners

Dangote Petroleum Refinery & Petrochemicals has launched an initiative to refund customers who purchase Premium Motor Spirit (PMS) above advertised rates from its key distribution partners across Nigeria.
The announcement comes after the refinery recently reduced its gantry price from N890 to N825 per litre.
According to a statement released this weekend, the company will refund N65 per litre on over 200,000 metric tonnes of PMS purchased by marketers at the old price before the reduction took effect.
“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change.
More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” the company stated.
The refinery confirmed it has absorbed a N16 billion loss by providing these refunds, emphasizing that the move aligns with President Bola Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.
Dangote strongly condemned any exploitation of the new pricing structure by marketers.
“It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre.
This constitutes excessive profiteering,” the statement declared.
The company has published approved rates for its key partners: MRS will sell at N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East.
Heyden and AP (Ardova Plc) will sell at N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.
With these rates in place, Dangote expects no Nigerian should pay more than N900 per litre regardless of location.
Customers who are charged above the advertised rates at any Dangote partner station are encouraged to report to the refinery with their receipts for a full refund of the excess amount.
The refinery underscored its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health while contributing to Nigeria’s energy security and economic growth.
“This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country,” the company concluded.
Business
UK Parliament Honors NASENI CEO for Driving Africa’s Industrial Innovation
In his remarks, Halilu emphasised Africa’s readiness to lead in innovation, manufacturing, and sustainability.“It is a great honour to receive this award alongside fellow visionaries committed to Africa’s future.

The Executive Vice Chairman and Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Halilu, has been honoured with the prestigious African Achievers Award at the 15th edition of the ceremony held at the historic House of Lords, UK Parliament.
The award, presented during an event that brought together royals, global leaders, policymakers, and innovators, recognised Halilu’s outstanding contributions to advancing Africa’s technological infrastructure, innovation ecosystems, and industrial growth through his leadership at NASENI.
Hosted by Baroness Sandip Verma, Chancellor of the University of Roehampton and a respected member of the House of Lords, the ceremony was a powerful global showcase of African excellence and transformative leadership, a statement by NASENI’s Director of Information, New Media and Protocol, Olusegun Ayeoyenikan, said.
Halilu joined a distinguished group of honourees including public officials, business executives, and philanthropists shaping the future of the continent.
In his remarks, Halilu emphasised Africa’s readiness to lead in innovation, manufacturing, and sustainability.“It is a great honour to receive this award alongside fellow visionaries committed to Africa’s future.
At NASENI, we are bridging the gap between ambition and access, turning ideas into industries, empowering indigenous solutions, and driving forward Nigeria’s and Africa’s industrial transformation. Africa is not just rising, it is ready,” he said.
Under his leadership, NASENI, the statement said, has been repositioned as Nigeria’s leading technology transfer agency, delivering on the Renewed Hope Agenda of President Bola Tinubu by enabling local production in critical sectors such as clean energy, agriculture, transportation, and digital infrastructure.
Business
We didn’t shutdown Tummy Tummy noodles factory – NAFDAC
In a statement released on Wednesday, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, clarified that the viral recording was not only misleading but also a recycled falsehood.

The National Agency for Food and Drug Administration and Control (NAFDAC) has issued a formal disclaimer concerning an audio recording circulating on social media.
The audio recording falsely claims the agency shut down the Tummy Tummy noodles manufacturing facility in Anambra State.
In a statement released on Wednesday, the Director-General of NAFDAC, Prof. Mojisola Adeyeye, clarified that the viral recording was not only misleading but also a recycled falsehood.
According to her, the same audio first appeared in Oct. 2023 and was thoroughly investigated at the time.
“The claims made in the recording are entirely false.
“The Tummy Tummy noodles facility in Anambra State was not sealed,” she stated.
Business
Illicit Financial Flows Draining National Resources – Adedeji
He emphasized the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.

•Chairman of FIRS, Zacch Adedeji
On July 22, 2025, the Executive Chairman of FIRS, Zacch Adedeji, delivered the welcome address at the National Conference on Illicit Financial Flows in Abuja.
He emphasizied the need to strengthen Nigeria’s domestic resource mobilisation to safeguard national wealth.
He cited the recent tax reforms as a major step forward and highlighted the following as key points in his welcome address:
* Illicit Financial Flows through tax evasion, profit shifting and money laundering are draining national resources and threatening fiscal stability.
- The recent signing of four tax reform bills marks a critical step toward transparency, system overhaul, and stronger institutions.
- FIRS is responding with a multi-dimensional strategy: promoting voluntary compliance, embracing digital intelligence and enhancing enforcement under the Proceeds of Crime Act.
- * A need for unified, data-driven, and globally coordinated action to close fiscal gaps and protect Nigeria’s economic future.
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