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Dangote Assures Africa: Refinery Can Meet Fuel Demand Amid Global Crunch.
Aliko Dangote, President of the Dangote Group, has reassured Nigerians and other African countries that the Dangote Refinery can meet growing fuel demand despite global supply challenges.....KINDLY READ THE FULL STORY HERE▶
News reports that the billionaire made the statement as the refinery ramped up exports of petrol and urea to African nations affected by supply disruptions linked to the ongoing Iran crisis.
During a facility tour on Monday, Dangote highlighted how the refinery has helped mitigate the impact of the global supply crunch locally and across the continent.
“What I can do is assure Nigerians … and most of West, Central, and East Africa that we have the capacity to supply them,” he said.
He revealed that the refinery has already shipped around 17 cargoes of gasoline to other African countries and noted a surge in urea fertiliser exports as buyers seek alternative sources.
“In the last few days, we’ve focused mainly on African countries, which we hadn’t done much before,” Dangote said regarding fertiliser shipments.
Officials stated that the refinery can produce up to three million metric tonnes of urea annually, much of which is typically exported to the U.S. and South America. However, recent global dynamics have increased attention on African markets.
Despite higher production, fuel prices in Nigeria continue to hit record levels, largely due to rising global crude oil costs. Industry data suggest that refinery output has not yet fully offset these price pressures.
Dangote added that the refinery is seeking more crude oil cargoes priced in local currency to help reduce domestic fuel costs. The Nigerian National Petroleum Company has increased crude allocations to the refinery, scheduling seven cargoes for May, up from five in previous months.
Globally, oil prices climbed amid heightened tensions around Iran, especially over the Strait of Hormuz, a key shipping route for roughly one-fifth of the world’s oil. U.S. President Donald Trump issued a warning to Iran, threatening severe consequences if the Strait is not reopened, including potential attacks on critical infrastructure.
Brent crude rose $1.74 (1.6%) to $111.51 per barrel, while U.S. West Texas Intermediate gained $3.45 (3.1%) to $115.86.
In other developments, OPEC+ agreed to a modest May production increase of 206,000 barrels per day, while Saudi Arabia raised the official selling price of its May Arab Light crude to Asia to a record $19.50 per barrel above the Oman/Dubai benchmark.
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UNIABUJA Honours Odili, Ali, Issa As 17,300 Students Graduate.
Yakubu Gowon University (formerly University of Abuja) has graduated 17,300 students at its combined 29th and 30th convocation ceremonies held on Saturday at the main campus.....KINDLY READ THE FULL STORY HERE▶
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FG Bans Importation Of Paracetamol, Metronidazole And Other Medicines.
The Federal Government has released an updated list of items banned from importation into Nigeria, in a move aimed at protecting local industries and reducing pressure on foreign exchange.....KINDLY READ THE FULL STORY HERE▶
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Momodu Defends Atiku Amid Age Criticism Ahead Of 2027 Presidential Contest.
ADC chieftain and publisher, Dele Momodu, has dismissed calls for former Vice President Atiku Abubakar to withdraw from the 2027 presidential race, describing the push as unfair and politically motivated.....KINDLY READ THE FULL STORY HERE▶
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