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Dangote Announces Fresh Petrol Price Cuts After Meeting Tinubu.
According to Nivo News, the President of Dangote Group, Aliko Dangote, has reiterated his commitment to reducing the pump price of petrol as part of efforts to keep the Dangote Refinery competitive against imported fuel. Speaking with journalists at the State House after meeting President Bola Tinubu, Dangote said ongoing adjustments in petrol pricing were aimed at strengthening Nigeria’s domestic market.....KINDLY READ THE FULL STORY HERE▶
He stated that the refinery would continue to lower prices in response to market realities. “Prices are going down. The reason why prices have to go down is because we must compete with imports,” he said, adding that the refinery remains focused on ensuring price stability despite global fluctuations in crude oil prices.
On November 6, 2025, the refinery reduced its petrol gantry price from ₦877 to ₦828 per litre, a 5.6% decrease, while the coastal price declined from ₦854 to ₦806 per litre. Dangote acknowledged, however, that smuggling remains a major challenge, noting that fuel prices in neighbouring countries are nearly double those in Nigeria.
He explained that with fuel selling for as high as ₦1,500 to ₦1,600 per litre in nearby nations, border policing alone cannot stop smuggling. “There is still a lot of smuggling because Nigeria’s price is about 55 percent lower than that of neighbouring countries,” he said.
Dangote emphasized that the refinery is committed to supplying petroleum products at affordable rates and is not driven by a desire to quickly recoup its $20 billion investment. “We are not here to make our $20 billion back quickly; it’s a long-term investment,” he stated.
Commenting on the Naira for Crude policy, Dangote described the initiative as beneficial for the country and praised President Tinubu and the ministerial committee overseeing it. He noted, however, that international suppliers have been reluctant to sell Nigeria’s premium crude to the refinery, describing it as an initial challenge that could be resolved in the government’s upcoming budget.
Dangote also disclosed that the refinery has informed the Nigerian Midstream and Downstream Petroleum Regulatory Authority of its capacity to deliver 50 million litres of petrol daily, which would significantly reduce the nation’s persistent fuel scarcity. He recalled that Nigeria had battled fuel queues since 1972 but said the refinery is already easing the pressure.
For the first time, Nigeria is also supplying petrol to Europe and the United States. Dangote added that by February, the refinery would be able to produce 15 to 20 million litres above Nigeria’s daily consumption, necessitating exports.
Looking ahead, Dangote revealed expansion plans that could make the refinery the world’s largest by 2028. He said the project aims to surpass India’s Reliance refinery, which produces 1.25 million barrels per day. “We will be at 1.4 million barrels per day. Agreements have been signed, and piling for the expansion will begin in January. It will be delivered on time,” he assured.
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Tension In UK As Nigerians Push For INEC Chairman’s Removal Ahead Of 2027.
A group of Nigerians has staged a protest at the United Kingdom Parliament, calling for the removal of the Chairman of the Independent National Electoral Commission (INEC) ahead of the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶
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“My Nightclubs Are The Least Of What I Do” — Sir Uyi Fires Back At Critics.
Sir Uyi has responded strongly to critics of his involvement in nightclub businesses, insisting that such ventures represent only a small part of his wider activities.....KINDLY READ THE FULL STORY HERE▶
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Shock In Benue As Police Nab Seven Over Abduction Of JAMB Candidates.
The Benue State Police Command has confirmed the arrest of seven suspected militia herdsmen in connection with the abduction of passengers travelling in an 18-seater Benue Links bus along the Makurdi–Otukpo road last Wednesday.....KINDLY READ THE FULL STORY HERE▶
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