Business
Dangote exported 434m litres petrol in March – NMDPRA
A breakdown of the figures showed that the refinery produced an average of 48.2 million litres of petrol per day, translating to 1.49 billion litres for the 31-day period. Of this volume, 34.2 million litres per day, totalling 1.06 billion litres, was supplied locally.
• Dangote Petroleum Refinery / Credit: Instagram
The Dangote Petroleum Refinery exported about 434 million litres of Premium Motor Spirit (petrol) in March 2026.
Data obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)’s March 2026 fact sheet on the state of the downstream sector on Wednesday revealed that the refinery produced a total of 1.49 billion litres of petrol during the month, while only 1.06 billion litres were supplied to the domestic market, leaving a substantial export surplus.
A breakdown of the figures showed that the refinery produced an average of 48.2 million litres of petrol per day, translating to 1.49 billion litres for the 31-day period. Of this volume, 34.2 million litres per day, totalling 1.06 billion litres, was supplied locally.
This implies that about 434 million litres of petrol were exported within the period.
The export of excess petrol reflects a major shift in Nigeria’s downstream sector, which has historically depended on imports to meet local demand. This development was further confirmed in a statement issued by the refinery earlier this week.It stated that, “Nigeria recorded a historic shift in its downstream petroleum trade in March, emerging as a net exporter of gasoline for the first time, driven largely by rising output from the Dangote Petroleum Refinery & Petrochemicals.
Business
Juhel CEO-Dr Ifeanyi Okoye, Becomes MAN President
Before he was elected President, Dr. Okoye served the Association in various capacities, including as Chairman of the Enugu, Anambra and Ebonyi States Branches from 1998 to 2005, and as Vice President from 2006 to 2010.
Business
Investors Rush For Airtel Money IPO on LSE
Airtel Money is proving popular among retail investors ahead of full admission next week.
Airtel Money began conditional trading on the London Stock Exchange this morning in a £5.3 billion market debut, dubbed Africa’s Revolut.
Shares, which were open only to investors allocated stock in the offer, were trading flat at around 194p.
But armchair investors are rushing to sign up to the City’s largest IPO in five years ahead of full admission on October 14.
It is the ninth most popular initial public offering on AJ Bell’s investment platform based on the number of customers applying to take part in the offer, it said.
Airtel Money is proving popular among retail investors ahead of full admission next week
Airtel Money, a subsidiary of Airtel Africa, which offers mobile payment services in 13 countries across Africa, is a subsidiary of FTSE 100 telecoms group Airtel Africa, whose shares have trebled in less than two years.
The Nigerian National Petroleum Company Limited (NNPC Ltd) has clarified that its ongoing petrol discount is a temporary customer relief measure and does not amount to a restoration of the petroleum subsidy abolished in 2023.
In a statement issued on Friday by Chief Corporate Communications Officer Andy Odeh, the company said the N66-per-litre sales discount, first introduced on 1 October 2026 to mark Nigeria’s 66th Independence Anniversary, will continue until 31 October 2026 at NNPC Retail stations nationwide.
NNPC stressed that the initiative is designed to ease the burden of rising fuel prices linked to elevated global crude oil costs and the Middle East conflict. It applies only to NNPC Retail outlets and does not set a uniform national pump price or change the market-based pricing framework for petroleum products.
“This discount is a customer relief initiative and does not represent the reintroduction of petroleum subsidy,” the statement said. The company urged the public to disregard any interpretation of the measure as a return to the subsidy regime.
The clarification followed comments by Finance Minister and Coordinating Minister of the Economy Taiwo Oyedele, who explained that the discount is funded solely from NNPC Retail’s own profit margin and involves no public funds from the federal budget or Federation Account.
Juhel CEO-Dr Ifeanyi Okoye, Becomes MAN President
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