Dangote Refinery Increases Fuel Price, Resumes Naira Sales
The refinery’s return to naira sales follows a week-long halt and comes as marketers say tighter supply lifted depot and retail prices nationwide.
- On Wednesday, Dangote Petroleum Refinery resumed sales of Premium Motor Spirit in naira, raising its ex-depot price to N1,215 per litre after suspending dollar-denominated transactions.
- Last week's suspension of gantry and coastal loading tightened fuel supply across Nigeria, forcing private depot prices sharply higher as marketers struggled to access the product.
- Alhaji Abubakar Maigandi, President of the Independent Petroleum Marketers Association of Nigeria, confirmed the N40 price increase per litre, stating it will improve inland distribution after days of constrained availability.
- Dangote Industries Limited announced Thursday the successful completion of a private placement raising approximately $2.5 billion in new equity; the offer was 3.7 times oversubscribed.
- Founder Aliko Dangote stated the new capital will support expansion to 1.4 million barrels per day, aiming to reduce Africa's reliance on imported refined products and strengthen energy security.
19 Articles
19 Articles
Africa: Dangote Refinery Raises $2.5 Billion in Africa's Largest Private Equity Placement
Dangote Petroleum Refinery has raised about $2.5 billion through a private equity placement that was oversubscribed by 3.7 times, with the proceeds to fund expansion and strengthen its capital structure.
Dangote Refinery raises $2.5 billion in Africa’s largest private equity placement
Dangote Petroleum Refinery has raised about $2.5 billion through a private equity placement that was oversubscribed by 3.7 times, with the proceeds to fund expansion and strengthen its capital structure. The post Dangote Refinery raises $2.5 billion in Africa’s largest private equity placement appeared first on Premium Times Nigeria.
Nigeria's Dangote raises $2.5bn to expand Africa's largest refinery
The private equity investment gives investors a slice of the 650,000 barrels-per-day refinery launched two years ago and is currently the largest on the continent. Until the completion of this investment round, only the Nigerian government-controlled oil corporation NNPCL held a piece of the company, owning about 7.2 percent stake. The investment is "believed to be the largest publicly disclosed private investment in Africa," Dangote Petroleum R…
Dangote Refinery increases fuel price, resumes naira sales
Dangote Refinery has increased its gantry price for Premium Motor Spirit, PMS and resumed the sale of its refined petroleum products in naira. The refinery announced the development in a statement issued on Wednesday, confirming that marketers can once again purchase the product in the local currency. According to the 700,000-barrel-per-day refinery, it has pegged its […] Dangote Refinery increases fuel price, resumes naira sales
Dangote Refinery resumes petrol loading in Naira at N1,215 per litre
•As depots, filling stations adjust prices By Udeme Akpan, Energy Editor Dangote Petroleum Refinery has resumed gantry loading of Premium Motor Spirit (PMS), also known as petrol, in naira after a week suspension, ending uncertainty in the downstream sector over its temporary shift to dollar-denominated sales. Checks by Vanguard showed that the refinery has fixed […] The post Dangote Refinery resumes petrol loading in Naira at N1,215 per litre a…
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
