Business

Dangote Harps on full benefits of domestic refining

The continued importation of substandard fuel constitutes dumping, a harmful practice that undermines economic growth and industrial development.

Published

12 months ago

November 17, 2025

OCHEFA

513 Views

File photo: Aliko Dangote President of the Dangote Group, flank by visitors during a tour of the refinery, recently.

The management of the Dangote Petroleum Refinery says that Nigerians will enjoy the full benefits of domestic refining.

In a comparison of imported petroleum products and the domestic ones, the refinery said that contrary to repeated claims by certain interests, imported products which are often below acceptable standards have consistently been sold at higher pump prices than the premium-grade fuel supplied by Dangote Refinery.

“The continued importation of substandard fuel constitutes dumping, a harmful practice that undermines economic growth and industrial development.

Nigeria has witnessed the devastating consequences of such unchecked dumping before, including the collapse of the once-thriving textile industry, which was a major employer of labour,” said the refinery in a statement on Monday, November 17, 2025.

The refinery reiterated its commitment to supplying high-quality and internationally benchmarked petroleum products at competitive prices, adding: “Our operations continue to moderate prices in the market, ensuring Nigerian consumers receive genuine value for money.”

In a response to the recent suspension of the 15% import duty on imported petroleum products by the government, the refinery, said :

” Despite the non-implementation of the tariff, we reduced the price of our products.

As a socially responsible company, this decision, which was not affected by whether the tariff was implemented or not, aligns with our long-standing commitment to ensuring Nigerians enjoy the full benefits of domestic refining.”

It emphasised that Dangote refinery reduced its petrol gantry price from N877 to N828 per litre, representing a 5.6 per cent decrease, and its coastal price from N854 to N806 per litre on November 6.

The refinery said these changes were publicly announced and implemented before marketers adjusted their pump prices.

It stated: “The claim that the reduction in pump prices was driven by the suspension of the 15 per cent import tariff is therefore incorrect. The import tariff had received the approval of President Bola Tinubu as far back as October 21 for immediate implementation.

Related Topics:Dangote Petroleum Refinery Featured Nigeria domestic petroleum refineries

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Naira Exchange Rates Thursday, 5 Nov 2026

Published

2 days ago

November 5, 2026

OCHEFA

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₦1515 EURO (EUR)

₦950 CANADIAN DOLLAR (CAD)

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₦350 UAE DIRHAM (AED

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Business

NNPCL wants to sell 10% equity via IPO on NGX, LSE

NNPC is expected to spend at least the whole of 2027 preparing for the proposed offering, with the listing primarily intended to strengthen corporate transparency and governance in line with Nigerian law.

Published

3 days ago

November 4, 2026

OCHEFA

172 Views

The Nigerian National Petroleum Company Limited (NNPC Ltd.) is considering selling between 5% and 10% of its equity through a potential initial public offering (IPO), with the proposed listing expected to focus primarily on Nigeria’s domestic capital market.

The Group Chief Executive Officer of NNPC Ltd., Bashir Bayo Ojulari, disclosed this in an interview with Reuters on Tuesday, November 3, 2026, adding that the company could also pursue a secondary listing in London or New York.

The disclosure comes shortly after the Dangote Petroleum Refinery’s IPO closed on October 27, following a two-week extension of its subscription period from the initial October 13 deadline.

Ojulari indicated that raising additional capital would be a secondary consideration rather than the main reason for going public.

The company is also considering listing some of its subsidiaries separately, following a model adopted by Abu Dhabi National Oil Company (ADNOC), the United Arab Emirates’ state-owned oil company.

Beyond the potential IPO, Ojulari disclosed that Chinese companies have expressed interest in acquiring equity stakes in some of NNPC’s smaller refineries, particularly the Port Harcourt and Warri facilities, which require substantial rehabilitation.