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We have over N600bn worth of petrol in store ― Dangote
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President of Dangote Industries Limited (DIL), Aliko Dangote said his company – the Dangote Petroleum Refinery – has enough Premium Motor Spirit (PMS otherwise known as petrol) in storage to sufficiently meet the local needs of Nigeria.
Speaking at the weekend, Dangote disclosed that the oil refinery has “more than half a billion litres of petroleum and over 600 billion Naira worth of products in its tanks.
Dangote said, “…as we speak right now we have more than half a billion litres. The Refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements.
Speaking after a tour of the Refinery complex by a Zambia Government delegation, led by the country’s Minister of Energy, Mr. Makozo Chikote, Dangote stated that the refinery project, like other projects in the past, is not for Nigeria alone.
“This refinery is not only for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) deal. We are trying to see how we trade with other African countries
The Zambian Minister of Energy said his takeaway from the Dangote Refinery working visit was that the President, Aliko Dangote, is truly focused on the bigger picture for Africa.
Chikote, who led a delegation of energy experts to the Dangote Petroleum Refinery to partner Zambia on energy solutions, expressed satisfaction and readiness to work with the African manufacturing giant.
After a tour of the Dangote complex at the Free Trade Zone, Ibeju Lekki, starting from the Single Point Mooring to the Dangote Jetty, the biggest fertiliser plant in Africa and the 650,000bpd largest single-train refinery in the world, the Minister enthused that the presentation by the Vice President, Oil and Gas of Dangote Industries Limited, Mr. Edwin Devakumar, made their hearts “jump”.
He stated that the presentation speaks to the challenges of his country, Zambia.
The energy minister added, “In Zambia, we created an environment for the private sector to participate in the growth and development of our country. Currently, 100 per cent of our petroleum is done by the private sector.
“We are targeting increased productivity in mining, agriculture, and other sectors. Your presentation is an immediate solution to our energy needs. We are trying to promote competition among our private players
“We are looking at Dangote coming on board, which would lead to efficient, reliable, quality, and competitive products, and we want these done like yesterday.”
“Coming to the Dangote Petroleum Refinery, we have learned so many advantages of bringing many players for competition, which has improved the lives of the citizens.”
According to him, “From what we have seen, we need to promote trade within Africa to promote each other. We need these countries together to make Africa efficient, and a reliable trade hub.
“We have seen here that we can learn from what Dangote has done, and this would lead Africa and Africans to stand on their feet and not depend on overseas support in terms of trade. I believe going forward that people have learned a few lessons. The one lesson I have learned from this visit is that Dangote looks at the bigger picture for Africa.”
Another member of the Zambia delegation, Samuel Maimbo, the Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, presently campaigning for the presidency of the African Development Bank (AfDB), explained that there is not enough development aid to develop Africa.
“There is also not enough government funding to develop Africa. The only way we can finance Africa’s growth at a pace and scale that solves our problem is by working through the private sector, which is why we are here today, to learn and to see what an ambitious programme looks like,” he stated.
He added that it is only the private sector that can help develop the continent of Africa.
The Vice President of Dangote Industries Limited, Edwin Devakumar stated that the Refinery produces the best quality products as its core business strategy.
“The project concept was to process the crude from Nigeria and add value. But we also wanted to provide some flexibility to process most of the African crudes and some of the Middle Eastern crudes,” Edwin said.
He said: “In another concept, what we did was maximum value extraction. That is a process where every barrel of crude which goes in, the value addition should be the best.”
According to Edwin, “the Refinery can meet all our requirements. 44 per cent can meet the entire requirements of Nigeria, and 56 per cent of the production would be exported. Every day, we produce lighter products of 104 million litres; 57 million litres of petrol every day; 20 million litres of jet fuel; and 27 million litres of diesel production.
“The local consumption is just around 46 million litres, and the remaining 58 million litres will be exported daily,” he added.
Credit: Vanguard
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According to The Nation, the August 24 operation rescued Ilesanmi Foluke, 23, who is seven months pregnant, and Ejekwa Melody, 20, who is eight months pregnant. Four children were also recovered from the premises.
A follow-up operation traced a third victim, Blessing Bright Effiong, 26, to a nearby hospital where she had delivered a baby boy on August 20 — but the newborn’s whereabouts remain unknown. The case has been transferred to the State Criminal Investigation Department in Abeokuta for further investigation.
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ADC Kicks Against Endorsement of Tinubu by 500+ Jigawa Islamic Scholars
The African Democratic Congress (ADC) has questioned the decision by more than 500 Islamic scholars and clerics in Jigawa State to endorse President Bola Tinubu for a second term in 2027.
The party’s Jigawa chapter described the endorsement as inappropriate, arguing that religious leaders should not allow political affiliations to compromise their independence or influence how they provide guidance to the public.
The ADC’s position was contained in a statement issued by its Jigawa State Deputy Chairman and North ADC Youth Ambassador, Ambassador Nuraddeen Suleiman Jidawa.
Jidawa acknowledged that individual clerics had the right to support candidates of their choice but maintained that such political positions should not be presented as the collective position of Nigeria’s Muslim population.
The party also disputed some claims reportedly made by the scholars in support of the Tinubu administration, including the attribution of the Kano-Dutse/Kano-Maradi railway project to the current government.
According to the ADC, the railway project was approved and awarded during the administration of former President Muhammadu Buhari in 2021.
The opposition party therefore challenged the Federal Government to provide details of major capital projects initiated and substantially completed by the Tinubu administration in Jigawa State.
The party also rejected claims that the country’s security situation had improved significantly, particularly in the North-West.
It cited reported incidents of kidnapping and terrorist attacks in Kaduna, Sokoto and Zamfara as indications that insecurity remains a serious national challenge.
The ADC further referenced a recent Al Jazeera report concerning a video purportedly showing abducted people being held by armed men following reports of mass abductions in Niger State.
The party argued that such developments made it inappropriate to describe Nigeria’s security crisis as resolved.
It urged voters to assess the Tinubu administration based on tangible results rather than political endorsements, listing security, employment, economic conditions, infrastructure, transparency and accountability among the areas that should be considered.
The ADC also renewed its criticism of the removal of petrol subsidy, arguing that the policy had contributed to higher transportation costs and increased prices of food and other essential goods.
It called on Islamic scholars and clerics to preserve their independence and avoid becoming tools for political mobilisation.
“While we respect the right of individual clerics to make their political choices, such endorsements should not be presented as religious verdicts or as the position of Nigeria’s Muslim community,” the party said.
The party said religious leaders should instead use their influence to demand accountability from political authorities and provide moral guidance to society.
The ADC urged Nigerians to make independent decisions ahead of the 2027 elections by examining how government policies have affected their livelihoods and the country’s overall development.
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Dangote Refinery raises fuel price by N15
Dangote Petroleum Refinery and Petrochemicals FZE has raised the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026.
In a notice sent to customers on Tuesday, the refinery’s Group Commercial Operations announced new depot prices for gantry and coastal deliveries.
The email, titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, instructed customers to note the revised DPRP PMS gantry and coastal prices, starting August 26, 2026.
As per the notice’s table, the coastal price increased from N1,562,265 to N1,582,380 per metric tonne, while the gantry price rose from N1,185 to N1,200 per litre.
The refinery also asked customers to return all Authorisation to Collect documents for repricing, stating a new volume contract would be issued to resume immediate loading.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice said.
The latest adjustment represents a N15 per litre increase in the gantry price and comes barely days after the refinery raised the price from N1,165 to N1,185 per litre.
The previous price increase was implemented at midnight on August 21, 2026, as reported by industry trackers.
However, the most recent hike occurs amid declining international crude oil prices.
Oilprice.com data from Tuesday indicated that West Texas Intermediate crude was trading at $82.13 per barrel, a decrease of $2.88 or 3.39%. Brent crude was priced at $88.37 per barrel, down $3.80 or 4.12%. Murban crude also dropped to $92.71 per barrel, a decline of $8.73 or 8.61%.
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