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Dangote raises petrol prices to N955 from N899/litre for bulk buyers

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Sequel to a consistent surge in the price of Brent, the global benchmark for crude, the Dangote Petroleum Refinery has communicated an upward adjustment in the price of Premium Motor Spirit, also known as petrol, to its customers.

In a statement on Friday, the refinery announced that its refined products would now be priced at N955 per litre at the loading gantry, marking an adjustment in its pricing structure.

It noted that marketers buying between 2 million – 4.99 million litres will now buy at N955 per litre while 5 million litres & above will buy at N950 per litre.

The amount marks an increase of N55.5 or 6.17 per cent from N899.50 per litre announced as a holiday discount for Nigerians last year December.

This adjustment applies to all stock balances yet to be lifted by the stated time while pending stock as of the effective time will also be repriced at the updated rates.

The statement added that the new price regime will take effect from 5:30 PM, today.

The notice titled, “Communication on PMS Price Review” read, “Dear Esteemed Customer, Trust this email finds you well.

“Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit.

QuantityPrevious Price (NGN/Litre)

2 million-9.99 million -N899.

5010 million Litres & Above N895

Quantity

New Price (NGN/ Litre)

2 million – 4.99 million

N9555 million Litres & Above N950“

Please note that all stock balances yet to be lifted as at the above-stated time are to be repriced at the new reviewed prices.

“We shall communicate with customers on their revised volumes based on the reviewed prices, in due course.

”The price increase is expected to have widespread effects on the downstream petroleum sector, particularly private depots and retail markets.

An oil and gas expert, Olatide Jeremiah, said depots are poised to increase the loading price of refined petroleum products because of the heavy influence of the refinery.

Jeremiah, who is the Chief Executive Officer of petroleum price.ng, said, “Dangote Refinery’s influence on Fuel price has become unmatched; private depots, Major marketers, and independent Marketers will compete with this new price.

Therefore, Nigerians should expect an increase in Petrol Pump Price.

“Brent Crude oil as of today is $81.84, highest in 2025, its one major factor for the increase.

”On Thursday, the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, disclosed that the price of crude oil in the international market remains a major force in driving the fluctuations in the pump prices of petrol.

He said the downstream sector is now fully deregulated with the government no longer involved in setting prices.

Business

PRovoke Media 2025 Influence 100: Dangote ‘s Anthony Chiejina Ranks Among Most Powerful Global Communications Leaders

This year’s list reflects a powerful cross section of communications leadership from some of the world’s most influential organisations, including Walmart, Apple, Shell, Microsoft, Nvidia, Nissan, Coca Cola, Google, Lufthansa, MTN, Emirates, Ford, Marriott, Tencent and Reliance Industries among others.

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• File Photo: Anthony Chiejina

PRovoke Media has again recognized the Group Chief Branding and Communications Officer, Dangote Group, Anthony Chiejina, among the most powerful communications leaders in the world, in its prestigious 2025 Influence 100.

The recognition marks Chiejina’s fifth consecutive appearance on the global ranking, having previously been listed in 2021, 2022, 2023 and 2024, a rare distinction that underscores both consistency and sustained global relevance.

According to PRovoke Media, the 2025 Influence 100 identifies the most impactful senior communications, corporate affairs and marketing executives worldwide.

It emphasised that Chiejina’s inclusion reflects his central role in shaping the reputation of Dangote Group, Africa’s largest industrial conglomerate.

It notes that for over 15 years, Chiejina has overseen corporate communications across the group’s diverse portfolio, spanning cement, agriculture, energy, manufacturing and consumer goods.

His stewardship has been instrumental in positioning Dangote as the continent’s most admired indigenous company and a symbol of African industrial ambition.

According to the publication, under Chiejina’s leadership, the group’s communications function has navigated complex regulatory environments, major industrial expansions and heightened global attention, particularly as Dangote deepens its footprint across Africa and advances sustainability and energy security initiatives.

” As group head of corporate communications, he oversees external and internal reputation across multiple sectors spanning cement, agriculture, energy and consumer goods, and has helped steer the brand’s continued recognition as the most admired indigenous company on the continent,” it said.

His continued presence places him among an elite group of in-house communicators whose judgement, influence and strategic insight shape corporate reputation at the highest level

According to the publication, under Chiejina’s leadership, the group’s communications function has navigated complex regulatory environments, major industrial expansions and heightened global attention, particularly as Dangote deepens its footprint across Africa and advances sustainability and energy security initiatives.

Meanwhile, the 2025 Influence 100 includes 28 new entrants, alongside several high profile re entries by senior communications leaders who have since taken on expanded global roles.

These include Michael Stewart, who moved from PwC to Unilever; Michael Gonda, from McDonald’s to Nike; and Sandy Rodriguez, also from McDonald’s to Eli Lilly.

This year’s list reflects a powerful cross section of communications leadership from some of the world’s most influential organisations, including Walmart, Apple, Shell, Microsoft, Nvidia, Nissan, Coca Cola, Google, Lufthansa, MTN, Emirates, Ford, Marriott, Tencent and Reliance Industries among others.

In total, 20 countries are represented, highlighting the global reach and strategic importance of senior in house communications leadership.

Gender representation remains strong, with 58 women and 42 men featured, sustaining a female majority for the second consecutive year.

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Business

Beyond GDP, UNCTAD to launch new economic indicators for measuring countries prosperity

Accordingly , a High-Level Expert Group on Beyond GDP, mandated by the UN’s landmark Pact for the Future has been tasked with developing recommendations for a set of universally relevant indicators that countries can own and use to guide policy.

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Photo: UNCTAD Secretary-General Rebeca Grynspan. Credit: UNCTAD

UN Trade and Development (UNCTAD) says a new metrics for measuring countries progress beyond GDP, will be launched during the upcoming UN General Assembly in the spring of 2026.

Accordingly , a High-Level Expert Group on Beyond GDP, mandated by the UN’s landmark Pact for the Future has been tasked with developing recommendations for a set of universally relevant indicators that countries can own and use to guide policy.

UNCTAD serves as co-secretariat to the “Beyond GDP” expert group, alongside other entities including the Executive Office of the UN Secretary-General, the UN Department of Economic and Social Affairs and the UN Development Programme.

This initiative stems from the urgent need for measures of progress that enable more balanced and integrated pursuit of sustainable development.

GDP does not capture progress in well-being, equity, inclusiveness or sustainability – and it was designed as a measure of economic activity.

“Our approach will emphasize how better well-being and its drivers, such as health, social capital and the quality of the environment, are not only good for societal welfare but also contribute in an integral way to economic prosperity,” the interim report argues.

The “Beyond GDP” agenda, increasingly gaining traction among UN member countries, is about complementing traditional economic measures, rather than replacing them.

To do so, five principles are important.

First, countries need to look at more than GDP to gauge material well-being more accurately.Second, it takes more than income to capture all aspects of well-being.

Third, when addressing inequality and exclusion it’s necessary to look beyond average figures.

Fourth, the need to think in the long term, to ensure economic, environmental, social and institutional sustainability for future generations.

In addition, well-being is interconnected across countries in today’s world.

This makes cooperation all the more crucial, in setting global norms of measurement, unlimited to specific countries or regions.

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Business

Flutterwave buys Mono for $40 million

Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.

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• Flutterwave Nigeria HQ, Lagos

Flutterwave, Africa’s largest fintech company, has acquired Nigerian open banking startup Mono in an all-stock transaction valued between $25 million and $40 million.

The acquisition brings together two major fintech infrastructure players as Flutterwave looks to strengthen its payments stack with open banking, data, and identity capabilities.

Under the deal, Mono will continue to operate as an independent product, with no changes to its leadership or operations.

The transaction allows Mono’s investors to at least recoup their capital, with some early backers reportedly recording returns of up to 20x.

(Nairametrics)

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