Dangote Petroleum Refinery and Petrochemicals FZE has moved from heavy losses during its early operating phase to substantial profitability in 2026. The turnaround marks a major shift in the economics of Africa’s biggest single-train refinery, Pinnacle Daily analysis shows. According to the refinery’s prospectus, the company recorded a profit after tax of ₦2.50 trillion, equivalent …
Millions of Nigerian commuters are bracing for another round of transport fare increases as Premium Motor Spirit (petrol) prices climb to as high as ₦1,400 per litre in parts of the country. The development is putting commercial transport operators under fresh pressure to raise fares, while commuters already battling soaring food, rent and other living …
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 …
Despite increasing its ex-depot price of Premium Motor Spirit (petrol), in the last one week, Dangote Petroleum Refinery’s cost still remains lower than imported products. Pinnacle Daily’s analysis of available trade data shows that the landing cost of imported petrol in Nigeria has risen above the ex-depot price offered by Dangote Refinery despite periods of …
Dangote Petroleum Refinery and Petrochemicals has increased the ex-depot price of Premium Motor Spirit (PMS), also known as petrol, to ₦1,200 per litre from ₦1,185 sold previously. According to a notice sent to marketers on Tuesday, August 25, the revised petrol price takes effect from Wednesday, August 26, 2026. Apart from the gantry price increase …
The Dangote Petroleum Refinery has increased prices for both Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (diesel), following a surge in global crude oil prices above $93 per barrel. The refinery raised its gantry price by ₦20 per litre, from ₦1,165 to ₦1,185 per litre. This represents a partial reversal of a …
Dangote Petroleum Refinery has expanded its free petrol delivery scheme to four additional states as of August 2026, bringing the total to 10 locations nationwide. States now Covered The scheme now includes the original six locations—Lagos, Ogun, Rivers, Kaduna, Delta, and the FCT (Abuja)—and has added Kano, Imo, Anambra, and Nasarawa. The company stated that …
In what is being hailed as a pivotal moment for the continent's financial markets, the Dangote Petroleum Refinery and Petrochemicals (DPRP) has secured a $1 billion underwriting programme to support its planned initial public offering (IPO). The landmark deal is structured to facilitate significant ownership of the refinery by investors from Africa and the Caribbean, …
Dangote Refinery has announced further cut in the ex-depot price of its Premium Motor Spirit (PMS), also known as petrol, and Automotive Gas Oil (diesel), signalling relief to consumers as competition intensifies in the domestic downstream petroleum market. According to a post on the company’s social media handle on Wednesday, August 5, the refinery’s ex- …
Dangote Refinery is targeting October 2026 for a landmark listing in the stock market to raise $5 billion through an initial public offering (IPO) to finance the expansion of the facility in Lagos. According to a report by Reuters, if approved and completed, the public offering will be one of the largest equity raises in …
