The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, says Nigeria’s petrol price remains cheaper than in some countries. Lokpobiri made the statement on Channels Television’s Politics Today. He defended the government’s decision to remove petrol subsidies and deregulate the downstream sector. According to him, petrol costs about N1,430 per litre in Nigeria. He…
Petrol prices are dropping across major Nigerian markets as crude oil prices fall globally. The Dangote Petroleum Refinery and other marketers have reduced their pump supply prices in Lagos, Port Harcourt, Calabar and Warri. The biggest cuts came in Lagos, where several operators reduced prices by up to N25 per litre. The Dangote Refinery reduced…
The Manufacturers Association of Nigeria (MAN) has urged the Federal Government to regulate foreign participation in Nigeria’s retail trade. The association raised concerns about Chinese traders operating in the last-mile retail market. MAN Director-General, Segun Ajayi-Kadir, spoke during a press briefing for the group’s 54th Annual General Meeting. His comments followed protests by traders at…
Aliko Dangote says his foundation will help 2 million vulnerable women buy Dangote refinery shares and receive additional shares as savings Aliko Dangote has announced plans to help about two million vulnerable Nigerian women own shares in Dangote Petroleum Refinery and Petrochemicals Limited. The initiative will target widows, conflict victims and other women facing financial…
Ecobank has opened access to the Dangote Petroleum Refinery share offer across Africa. The offer gives retail and institutional investors a chance to buy shares in the refinery. It opened on September 14, 2026, and will close on October 13, 2026. Shares cost ₦525 each, while investors must buy at least 10 shares. Through its…
The Central Bank of Nigeria (CBN) has cut its benchmark interest rate to 23 per cent from 26.5 per cent. The decision came after the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. CBN Governor Olayemi Cardoso announced the rate cut after the committee’s 307th meeting. “The Committee decided as follows: reset the monetary…
Aliko Dangote plans to invest more than $10 billion in Africa’s power sector over the next three to four years. The Dangote Group president said the investment will support industrial growth across the continent. He also said the group could exit one or two businesses to fund the plan, with the steel project potentially among…
Africa’s richest man, Aliko Dangote, says his refinery IPO could attract up to 10 million shareholders. The billionaire made the disclosure in an interview with CNN International correspondent Larry Madowo. His comment came as Nigerians showed growing excitement over the Dangote Petroleum Refinery IPO. Madowo told Dangote that Nigerians were closely following the company online….
Dangote Industries Limited has acquired 4,000 more construction machines for its refinery expansion in Lekki, Lagos. The move brings its total equipment fleet to 6,500 machines. Group Vice President, Oil and Gas and Fertiliser, Devakumar Edwin, disclosed this during a refinery tour. He said the expansion will raise the refinery’s capacity to 1.4 million barrels…
Warren Buffett has stepped down as chairman of Berkshire Hathaway after more than 50 years in the role. The 96-year-old investor will now serve as chairman emeritus. He will also remain on the company’s board as a director. Berkshire Hathaway announced the change on Friday. The move marks another major step in the company’s long-planned…
