Business
PETROAN Agrees to Buy PMS from Dangote, says it’s Patriotic
” Dangote is one of us. We have no reason not to patronise him,” said Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN).
Billy Gillis-Harry, in an interview on Channels Television’s Morning Brief on Tuesday said that oil marketers are not opposed to Dangote Refinery and are open to purchasing refined Premium Motor Spirit from the facility.
Billy Gillis-Harry, stated that oil marketers would buy products from the refinery if all market conditions were properly negotiated and agreed upon.
He also mentioned that marketers plan to meet with Dangote Refinery this week to solidify discussions and establish the groundwork for a cooperative working relationship.
“There are no gloves off. What it is right now is that PETROAN, among other stakeholders who are patriotic and willing to serve Nigeria in the best way, will not at any time be denigrated. We have never taken off our gloves.
Dangote is one of us. We love the fact that he has made this kind of sacrifice in Nigeria. We are very proud of him.
However, after the pride, we need to get into business. We are surprised that we have been doing business over the airwaves.
And that is not how this business should be done. We have NNPCL, which has been dealing with us, and there are very simple procedures for getting this business to work.
“We are letting the true information out in the public space so that everybody can decide what to do.
We want to patronise Dangote Refinery. Dangote is one of us. We have no reason not to patronise him,” he said.
The clarification follows PETROAN’s recent accusation that Dangote Refinery is attempting to stifle competition in the downstream sector. Marketers raised these concerns after Dangote Refinery said that they were criticising its petrol pricing because they preferred to import lower-quality products at more affordable rates.
Business
TIME Names Moniepoint CTO Felix Ike Among 50 Global Executives of the Year
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
TIME magazine has named Felix Ike, co-founder and Chief Technology Officer of Nigerian fintech Moniepoint, to its inaugural Executives of the Year: Tech and Data list.
Ike is the only executive representing an African company among the 50 leaders selected for the 2026 list.
The list, unveiled on Tuesday, September 22, recognises chief information officers, chief technology officers, chief data officers and chief product officers whose decisions are shaping how major organisations deploy technology and use data.
Moniepoint is also the only African company represented on the inaugural list.
Ike was named alongside executives from Netflix, CrowdStrike, Dell, Duolingo, AT&T, OpenAI, Anthropic, Shopify and Reddit, among others.
In its citation, TIME said Ike “has helped to establish the business as one of Africa’s leading financial platforms.
“The recognition follows Moniepoint’s inclusion in TIME’s 2025 list of the 100 Most Influential Companies, giving the Lagos-founded fintech another global distinction.
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Business
Djibouti, Ethiopia and Dangote to build $660 million petroleum pipeline
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
Ethiopia, Djibouti and Nigerian billionaire Aliko Dangote plan to build a $660 million refined petroleum pipeline that will connect Ethiopia and Djibouti, a spokesperson in Ethiopian Prime Minister Abiy Ahmed’s office said on Thursday.
The project will include a 120-km (75-mile) pipeline, as well as approximately 375,000 cubic metres of storage capacity at Damerjog in Djibouti and 800,000 cubic metres at Dewele in Ethiopia, the spokesperson told Reuters, adding it should become operational within 18 months.
Abiy said on his X account the project will be developed through a partnership between Ethiopian Investment Holdings and the Dangote Group, which separately is already building a $4 billion fertiliser pipeline and power plant, and a polypropylene packaging facility, in Ethiopia.
The project aims to reduce logistics costs and delays along the Ethiopia-Djibouti transport corridor, Abiy said.
Developers say the infrastructure will strengthen energy security and improve supply chain resilience for the two countries, he said.
Abiy is on a visit to Djibouti and made the announcement alongside its president, Ismail Omar Guelleh, and Dangote.
In Kenya, Dangote and the government are due to break ground on a new 700,000-barrel-per-day crude oil refinery in Lamu next week.
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