Dangote to break ground on $17bn Lamu refinery by end of September 2026
Dangote Group will break ground on a $17 billion oil refinery in Lamu, Kenya, before…
FG Moves to Probe Petrol Prices as Dangote Refinery Adds N85 Per Litre
The Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have signed a Memorandum of Understanding in Abuja to tighten oversight of the deregulated petrol market. The move follows a fresh price adjustment by Dangote Petroleum Refinery that has pushed pump prices higher across the country. Dangote…
Dangote to break ground on $17bn Lamu refinery by end of September 2026
Dangote Group will break ground on a $17 billion oil refinery in Lamu, Kenya, before the end of September 2026, with completion expected within three years of construction starting. Aliko Dangote, president of Dangote Industries Limited and Africa’s richest man, announced the plan on Monday, September 14, 2026, at the opening of the Dangote Petroleum…
Nigeria’s Oil Output Rises to 1.68 Million Barrels Per Day, Meets OPEC Quota for Fourth Straight Month
Nigeria’s crude oil and condensate production rose to 1,677,777 barrels per day in August 2026, a 0.4 per cent increase from the 1.67 million barrels per day recorded in July. The Nigerian Upstream Petroleum Regulatory Commission confirmed the figure in a statement issued on Sunday by its Head, Media and Corporate Communications, Eniola Akinkuotu. The…
Dangote Refinery IPO: 32 Approved Channels to Buy Shares at ₦525 Each
Nigerians who want a stake in Aliko Dangote’s refinery can now subscribe through 32 approved channels, including banks, fintech platforms, mobile money operators and NGX Invest. Dangote Petroleum Refinery and Petrochemicals FZE published the list on its official initial public offering (IPO) website. The shares are offered at ₦525 each, with a minimum subscription of…
Dangote Refinery Names 10-Member Board Ahead of Public Listing
Dangote Petroleum Refinery has named a 10-member Board of Directors as the $20 billion facility prepares for a public listing aimed at broadening investor ownership and strengthening governance. The names were disclosed in the company’s Initial Public Offering prospectus. The board draws from energy, manufacturing, corporate finance, investment banking and legal practice. The refinery said…
PHED Cuts Prepaid Meter Prices as Mojec Offers Single-Phase Meter Below N100,000
Prepaid meter prices in Rivers State have dropped sharply, with Mojec Asset Management Co. Ltd. now selling a single-phase meter for N98,900. That is the first time in recent memory a vendor on the Port Harcourt Electricity Distribution Company (PHED) list has gone below the N100,000 mark. PHED released the updated price list effective September…
IPMAN Asks Dangote Refinery to Open Direct Petrol Allocation to All Marketers
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked the Dangote Petroleum Refinery and Petrochemicals to open its direct Premium Motor Spirit (PMS) allocation to every registered independent marketer in the country instead of limiting access to a select few. IPMAN National President Abubakar Shettima made the call while addressing developments in Nigeria’s downstream…
Seplat Energy Stake Rises ₦163bn in One Session to ₦1.8tn
Tony Elumelu’s indirect stake in Seplat Energy jumped by ₦163 billion in a single trading session after the oil and gas company’s share price closed 10% higher at ₦14,907.80 per share on Thursday, September 10, 2026. The 120.4 million shares held through Heirs Holdings Limited and Heirs Energies Limited were worth about ₦1.80 trillion, or…
Petrol Prices May Rise Again as Brent Crude Surges Above $107 on Hormuz Disruption
Petrol prices in Nigeria could come under fresh pressure after Brent crude rose to $107.63 per barrel on Thursday, September 10, with West Texas Intermediate climbing above $100, according to Reuters. The rally followed escalating attacks linked to the US-Iran conflict and disruptions to oil shipments through the Strait of Hormuz. The increase has renewed…
FG inaugurates committee to roll out electric buses for civil servants
The Head of the Civil Service of the Federation (HCSF), Olumuyiwa Enitan Abel, has inaugurated a nine-member committee to drive the implementation of the Renewed Hope Mass Transit Bus Scheme for Federal Civil Servants. The committee is expected to develop the framework for the pilot deployment of electric buses and ensure the scheme provides affordable,…
