Business
JUST IN: Dangote Oil Refinery To End Nigeria’s Fuel Queues – MAN
Dangote Petroleum Refinery;
Manufacturers Association of Nigeria
The Manufacturers Association of Nigeria (MAN) has expressed hopes that the Dangote Petroleum Refinery will end the persistent fuel queues in the country.
In a congratulatory message, yesterday, to the President and Management of Dangote group on the completion and commissioning of the refinery in Lagos, the Association said,” the coming onboard of the Dangote Refinery promises to bring to pleasant end, the nightmare of long queues at petrol filling station and the disruption of social and economic activities that come with it.”
” For all the determination and trail blazing zeal to bring this dream into reality, we Congratulate the President/CEO of Dangote Group, Alhaji Aliko Dangote, on the occasion of the official commissioning of this pride-of-Africa birthed-in-Nigeria project,” said its Director-General, Segun Ajayi-Kadir.
Ohibaba.com learned that works started on the refinery which is situated on land spanning approximately 2,635 hectares in 2016.
The refinery is claimed to be the World’s Largest Single Train 650,000 barrels per day Petroleum Refinery with a 9000 KTPA Polypropylene Plant ever built.
” It is gratifying to note that the Refinery can meet 100% of Nigeria’s requirement for all refined products (Gasoline, 57 million litres per day; Diesel, 27 million litres per day; Kerosene, 11 million litres per day and Aviation Jet, 9 million litres per day) and also have a surplus of each of these products for export.
” The Refinery when fully operational is expected to generate $10 Billion from the export of refined petroleum products and save Nigeria an estimated $10 Billion in foreign exchange.
With State-of-the-art technology, the refinery is designed to produce with 100% Nigerian Crude with the flexibility to process other crudes from Africa, Middle East, and US Light Oil,” he said.
Alsp, it was gathered that the refinery has a self-sufficient marine facility with the ability for freight optimization.
With the Largest Single order of 5 SPMs anywhere in the world, Diesel & Gasoline Products from the refinery will conform to Euro V Specifications.
The refinery design complies with the World Bank, US EPA, European emission standards, and the Department of Petroleum Resources (DPR) emission/effluent standards.
To cushion the potential impact of increase in mean sea level due to global warming, the company took appropriate measures using the world’s largest, 2nd and 10th largest dredgers to elevate the sea height by 1.5 metres.
Dangote Group is one of the few companies in the world executing a Petroleum Refinery and a Petrochemical complex directly as an Engineering, Procurement, and Construction (EPC) Contractor. Globally, apart from three companies, no individual owner has done the complete EPC Contract for a Petroleum Refinery.
Business
Naira Exchange Rates Monday, June15, 2026
Black Market Rates
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
Official CBN Exchange Rates
US DOLLAR (USD) ₦1,363. 83
GREAT BRITISH POUND (GBP) ₦1,821. 25
EURO (EUR) ₦1,572. 90
SWISS FRANC (CHF) ₦1,706. 49
JAPANESE YEN (JPN) ₦8.50
CHINESE YUAN (CNY) ₦201.20
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,857. 45
SAUDI RIYAL (SAR) ₦363. 29
SOUTH AFRICAN RAND (ZAR) ₦82.61
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1,393 Sell ₦1,400
GREAT BRITISH POUND (GBP) Buy ₦1,845 Sell: ₦1,865
EURO (EUR) Buy ₦1,185 Sell ₦1, 605
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
Business
Exchange Rates Today Friday, 12 June
Black Market Rates
US Dollar (USD) ₦1,397
Great British Pound (GBP) ₦1,850
Official CBN Exchange Rates
US Dollar (USD) ₦1,363. 83
Great British Pound (GBP) ₦1,821. 25
EURO (EUR) ₦1,572. 90
SWISS FRANC (CHF) ₦1,706. 49
JAPANESE YEN (JPN) ₦8.50
CHINESE YUAN (CNY) ₦201.20
West African CFA (XOF) ₦2.40
West African Unit Account (WAUA) ₦1,857. 45
SAUDI RIYAL (SAR) ₦363. 29
SOUTH AFRICAN RAND (ZAR) ₦82.61
Black Market Rates
US Dollar (USD) Buy ₦1,397 Sell ₦1,405
Great British Pound (GBP) Buy ₦1,850 Sell: ₦1,870
EURO (EUR) Buy ₦1,587 Sell ₦1, 607
Canadian Dollar (CAD) Buy ₦1,030 Sell ₦1,100
South African Rand (ZAR) Buy ₦75 Sell ₦90
UAE Dirham Buy ₦350 Sell ₦370
Chinese Yuan Buy ₦180 Sell ₦200
Ghana Cedi (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 380 Sell ₦2, 460
Central African CFA Buy ₦2, 220 Sell 2,300
Australian Dollar Buy ₦800 Sell ₦900
Business
Airtel launches data calculator to counter depletion complaints
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said that the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
Airtel Nigeria has launched the Airtel Web Data Calculator, a new digital tool designed to help customers estimate and better understand their internet data consumption based on real-life usage patterns.
Available through Airtel’s website, the calculator enables customers to estimate data usage across common digital activities such as video streaming, social media engagement, voice and video calls, and everyday web browsing.
Speaking on the launch, Oladokun Oye, Customer Experience Director, Airtel Nigeria, said that the initiative reflects Airtel’s commitment to customer empowerment and service transparency.
“As Nigerians become increasingly dependent on digital services for work, education, entertainment and communication, it is important that customers have clear visibility into how their data is consumed.
The Airtel Web Data Calculator was developed to help our customers understand their usage patterns better, make informed choices, and enjoy greater confidence in their digital experience,” he said.
Commenting on the significance of the launch, Dinesh Balsingh, Chief Executive Officer, Airtel Nigeria, said the company remains focused on building a network and customer experience ecosystem anchored on trust, transparency and continuous improvement.
“The future of telecommunications will be defined not only by network investments but also by how effectively operators help customers understand and manage their digital lives. The Airtel Web Data Calculator represents a practical innovation that places more information and control directly in the hands of our customers.” He said.
Naira Exchange Rates Monday, June15, 2026
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