The Biodun Coker Foundation on Saturday donated N5.25 million to members of the All Progressives Congress (APC) in Lagos Island to invest in the Dangote Refinery Initial Public Offer (IPO) to promote grassroots economic empowerment. The initiative, with the theme “From APC Membership to Dangote Refinery Share Ownership,” provides each …
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Dangote Industries Limited President Aliko Dangote has projected that shares of the Dangote Petroleum Refinery could rise from the current offer price of N525 to as much as N10,000 in the future. Dangote also said small-scale investors would receive priority in the allocation of shares under the refinery’s planned Initial …
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The Nigerian equities market on Tuesday halted its three-day bullish rally as investors lost N1.879 trillion, following increased sell-offs ahead of the Dangote Petroleum Refinery IPO. Mr Aruna Kebira, Managing Director, Globalview Capital Ltd., attributed the market downturn to investors repositioning their portfolios ahead of the Dangote Refinery IPO. Kebira …
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The Dangote Petroleum Refinery and Petrochemicals is considering restricting the sale of Premium Motor Spirit (PMS), also known as petrol, to major oil marketers that continue to import the product, amid concerns over quality, product blending and the integrity of its brand. The proposed restriction could take effect as early …
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Dangote Refinery has increased the price of Automotive Gas Oil, AGO, otherwise known as diesel, at its gantry nationwide as crude oil prices topped $94.13 per barrel. Refinery has raised its AGO price to N1,670 per litre from N1,570. This means that the 700,000-barrel-per-day refinery increased its diesel price by …
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Dangote Refinery has pegged the ex-depot price of Premium Motor Spirit (PMS), better known as petrol or fuel, at $0.779 per litre, officially commencing dollar-denominated sales of refined petroleum products and ending the naira pricing regime introduced under the Federal Government’s naira-for-crude policy. Newsextra24 reports that the new pricing template, …
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Dangote Petroleum Refinery on Wednesday reduced its ex-depot price of Premium Motor Spirit, popularly known as petrol, by ₦1 per litre, even as diesel prices rose across several petroleum depots in Lagos. The development reflected mixed trends in Nigeria’s downstream petroleum market, with petrol prices showing slight reductions in some …
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The Dangote Petroleum Refinery has purchased two cargoes of crude oil from the United Arab Emirates, UAE. S&P Global Commodity Insights reports that the latest crude import from the UAE is the first-ever procurement of Middle Eastern crude as the plant expands its feedstock sources amid persistent domestic supply constraints …
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Femi Otedola has disclosed that he sold his stake in Geregu Power Plc to position himself for investment in the proposed initial public offering of Dangote Petroleum Refinery, describing the facility as a transformative industrial project capable of reducing Africa’s dependence on imported petroleum products. Otedola made the disclosure during …
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Dangote Petroleum Refinery & Petrochemicals has reduced the price of aviation fuel, also known as Jet A1, from ₦1,750 to ₦1,650 per litre. The company said the ₦100 reduction was part of measures to ease the financial pressure on airline operators and ensure a steady supply of aviation fuel across the …
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