The Dangote Petroleum Refinery has finalized a structured offtake agreement with 12 major petroleum marketing companies to distribute between 60 million and 65 million litres of Premium Motor Spirit (PMS) daily. This strategic framework is designed to satisfy Nigeria’s entire domestic demand for petrol while positioning the country as a net exporter of refined products. […]
Africa’s richest man and President of the Dangote Group, Aliko Dangote, has projected that the Nigerian naira could strengthen significantly against the US dollar, potentially hitting N1,100 to $1 within 2026. Speaking on Wednesday, Dangote expressed strong optimism about the national currency’s recovery, attributing the potential appreciation to the full operationalization of the Dangote Petroleum […]
In a historic turning point for Africa’s industrial landscape, the Dangote Petroleum Refinery has officially reached its full nameplate capacity of 650,000 barrels per day (bpd). This milestone, announced on February 11, 2026, makes it the first refinery globally to achieve such a feat in a single-train facility of this scale. The achievement marks the […]
Aliko Dangote, chairman of the Dangote Group, has alleged that Farouk Ahmed, chief executive officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), spent about $5 million on the secondary school education of his children in Switzerland. In a paid newspaper advert on Tuesday, the billionaire said the amount was paid for four […]
Aliko Dangote, chairman of Dangote Industries Limited (DIL), has accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of issuing licences for the importation of petroleum products from Russia. Dangote made the allegation on Sunday while speaking on the state of the downstream sector and other industry issues during a media parley at his […]
Aliko Dangote, chairman of the Dangote Group, says the company’s refinery will pay dividends in dollars once it is listed on the stock exchange. Speaking on Thursday at the unveiling of Dangote Group’s $100bn Vision 2030: Accelerating Africa’s Industrialization, the billionaire said the firm is already working with the Nigerian Exchange (NGX) and the Securities […]
Aliko Dangote, chairman of the Dangote Group, says the conglomerate is on course to become the world’s largest fertiliser producer within the next three years. Speaking on Thursday at the Imo Economic Summit, the billionaire industrialist said the group is significantly expanding its fertiliser operations and intends to increase urea production from 3 million tonnes […]
Hackers have compromised the mobile phones of Aliko Dangote, chief executive officer of the Dangote Group, and Femi Otedola, chairman of First HoldCo Plc. TheCable, which reported the breach, cited sources close to both businessmen who confirmed that their devices were infiltrated over the past week. While Otedola’s phone was hacked once, the mobile device […]
Aliko Dangote, Africa’s richest man and chief executive officer of the Dangote Group, says his company has signed an agreement to invest over $1 billion in cement and energy projects in Zimbabwe. Speaking to journalists after meeting with President Emmerson Mnangagwa in Harare on Wednesday, Dangote said the agreement covers multiple sectors, including cement, power […]
Africa’s richest man, Aliko Dangote, has seen his net worth rise to $30.2 billion, according to the latest data from the Bloomberg Billionaires Index. The report, cited by Naira Metrics, shows that Dangote’s fortune has grown by $2.25 billion (8%) year-to-date, driven by gains in his cement, oil, and fertilizer businesses. Bloomberg’s data also indicates […]
Festus Osifo, PENGASSAN president, has accused Aliko Dangote of sabotaging the Nigerian economy while calling on President Tinubu to call the businessman to order. Festus made the allegations on Channels TV during a virtual interview with Seun Okinbaloye on Sunday Politics program. Dangote refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria […]
Aliko Dangote, the President of Dangote Group, Aliko Dangote, has said the federal government earns more from his cement company through taxes than shareholders receive as dividends. Speaking during a press briefing at Dangote Refinery, Africa’s richest man explained that the company pays 52 percent of its turnover in various taxes. “For every N1 we […]
Aliko Dangote, the President of Dangote Group, has ridiculed the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG). He mocked the union for warning Nigerians not to embrace his refinery’s recent fuel price reduction. Daily Trust reported that he said to journalists on Monday at the refinery complex in Lagos. Dangote said the price […]
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has accused billionaire businessman Aliko Dangote of pursuing what it described as an anti-union agenda in the country’s oil and gas sector. This was contained in a joint statement issued on Friday in Abuja by Williams Akporeha, the union’s National Executive President. The union alleged […]
Aliko Dangote, president of the Dangote Group, says Africa is losing as much as $90 billion every year due to the continued importation of substandard fuel. Dangote raised the alarm while speaking at the ongoing West African Refined Fuel Conference in Abuja. He decried the continent’s overdependence on imported petroleum products—most of which, he said, […]
Johann Rupert, a South African business magnate, has unseated Nigeria’s Aliko Dangote as the wealthiest man in Africa, according to the latest Forbes ranking. The list, released this week, shows that Dangote, who held the top spot for 12 consecutive years, is now the second richest man in Africa. The list of Africa’s wealthiest men […]
*Allegations of forex round-tripping highlighted BY ORIAKU IJELE As two of Nigeria’s topmost tycoons, Aliko Dangote and Abdul Samad Rabiu bicker over age-long economic interests of their companies, indications are rife that some ugly allegations of financial malfeasance are being thrown up, which establishes the fact that the integrity of the twosome could be at […]
Aliko Dangote has bagged a Lifetime Achievement Award from the Nigeria Employers Consultative Association (NECA), the umbrella body of employers in the Organised Private Sector in the country. The award was given during the 2021 Employers Annual Excellence Award held in Lagos as his pan-Africa Conglomerate, Dangote Industries Limited (DIL) was named the “Best Company […]
Alhaji Aliko Dangote, said doctors told him that his brother, Sani, would die in an hour, and that he died when it was time, “watching the life support machine going down until it stopped working.” Dangote stated this when the National Leader of the All Progressives Congress (APC), Alhaji Bola Tinubu, paid him a condolence […]
Chairman of Dangote Sugar Refinery Plc, Aliko Dangote, has said that the National Sugar Master Plan (NSMP), when executed as designed, could fetch the nation foreign exchange over $700million yearly from the Backward Integration component of the plan. Dangote made this disclosure recently while receiving in his office some businessmen who were on a visit […]