The petrol pricing landscape in Nigeria has undergone a significant shift in the past three years with the removal of subsidy policy and the resurgence of domestic refining championed by the Dangote Petroleum Refinery. While the return of local fuel refining is being celebrated as part of activities towards advancing Nigeria’s energy security drive, consumers …
Foremost economist and Chief Executive Officer of Financial Derivatives Company (FDC) Limited, Mr Bismarck Rewane, has urged Nigerians to invest in the Dangote Refinery, stating that investment would offer more value in the long run than selling their Permanent Voter Cards (PVCs) during elections for quick financial gain. Pinnacle Daily had reported that Dangote Refinery …
Dangote Petroleum Refinery has warned that a return of petrol subsidies or fuel price controls could squeeze its refining margins, disrupt demand and make revenue forecasting more difficult. The warning was contained in the refinery’s prospectus for its proposed initial public offering (IPO), released on Thursday, where the company identified uncertainty in government fuel-pricing policies …
The Dangote Refinery’s planned initial public offering (IPO) will widen its shareholder base without significantly altering its ownership structure. As existing major shareholders will retain their holdings, the new public investors will take up a small stake in the enlarged company, Pinnacle Daily analysis shows. According to the Dangote Petroleum Refinery and Petrochemicals Free Zone …
Nigerian motorists may face another round of petrol price hikes as international crude oil prices surge above $100 per barrel, amid deepening tensions in the Middle East. The sharp rise in global oil prices is putting renewed pressure on Nigeria’s downstream petroleum market, where petrol prices are increasingly influenced by crude acquisition costs, foreign exchange …
Dangote Petroleum Refinery and Petrochemicals Free Zone Enterprise (DPRP) is positioning its planned ₦2.11 trillion initial public offering (IPO) as growth capital rather than a means of extracting cash from the business. A review of the refinery's prospectus seen by Pinnacle Daily shows that the entire net proceeds will be invested in expanding its refining …
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 …
