President of Dangote Industries Limited, Aliko Dangote, on Monday said the proposed initial public offering (IPO) of Dangote Petroleum Refinery and Petrochemicals FZE is designed to give ordinary Nigerians and Africans an opportunity to own a stake in the massive industrial facility. Dangote disclosed this in Lagos while signing the IPO registration documents, describing the …
The initial public offering of Dangote Petroleum Refinery, which could raise about $5 billion and become Africa’s largest IPO, will open within the next 10 to 12 days, billionaire businessman Aliko Dangote has said. Dangote disclosed the timeline on Thursday while speaking with investors and analysts in Botswana, Reuters reported. The planned listing comes as …
The Crude Oil Refinery Owners Association of Nigeria (CORAN) has called on the Federal Government to adopt urgent measures to improve the supply of crude oil to domestic refineries on commercially sustainable terms, warning that inadequate feedstock could undermine Nigeria’s refining ambitions. CORAN made the call in a position paper titled “Position Paper on the …
The Independent Petroleum Producers Group (IPPG) has called for the establishment of a robust indigenous financing system to fund Africa's energy sector, as foreign capital increasingly retreats from the continent. Speaking at Africa Oil Week 2026 in Accra on Tuesday, IPPG Chairman Adegbite Falade warned that more than 150 essential oil and gas projects have stalled across …
The Nigeria National Petroleum Company Limited (NNPC) revenue and profit witnessed a significant decline as oil production dropped in July. NNPC’s profit after tax fell by 47.9 per cent to N279 billion in July 2026 from N535 billion in June. This was contained in the NNPC Limited Monthly Report Summary for July 2026, released on …
There are concerns that Nigeria's progress toward becoming a refining hub and achieving energy self-sufficiency has come under threat as domestic crude supply shortages have led to a surge in imports in recent months. While domestic production of refined petroleum products has surged over the past two years, a sharp drop in local crude supply …
A Federal High Court in Lagos has issued an interim injunction restraining the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) from interfering with the operations of the Dangote Petroleum Refinery in exercising its oversight authority. Justice Akintayo Aluko granted the order on Monday following an ex parte application by the refinery challenging NMDPRA's August …
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that the Federal Government retains the $300 helicopter levy for air navigational services. In a circular signed by the Commission Chief Executive, Mrs. Oritsemeyiwa Eyesan, the NUPRC confirmed that the $300 helicopter levy remains payable to the Nigerian Airspace Management Agency (NAMA). The Commission said the …
As Nigeria pushes to end the persistent shortage of crude oil feedstock for domestic refineries, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) recently announced moves to deepen the implementation of a crude oil and gas swap mechanism to increase supply and boost local refining capacity. The initiative is designed to address what many industry stakeholders …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to tie petrol import approvals to independently verified domestic supply gaps, warning that rising imports could undermine Nigeria’s growing refining capacity. The group, in a policy brief issued on Sunday by its Chief Executive …
