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Dangotes

African Financial Leader Unveils $4B Investment in Dangote’s Oil Refinery

Afreximbank: A Catalyst for Change in Africa’s Energy Sector In a noteworthy development, Prof. Benedict Oramah, President and Chairman of the Board at Afreximbank, recently shared significant strides the organization has made during the closing session of its 32nd Annual Meetings. His insights offered a profound glimpse into how targeted financial interventions can reshape an entire continent's energy landscape. Oramah introduced the concept of what he refers to as “African Best…

Transforming Africa: Dangote’s Vision for a Thriving Future

Aliko Dangote, renowned as Africa's wealthiest individual, recently encouraged the continent to embrace a mindset rooted in bold aspirations and long-term vision. He believes that Africa holds the potential to transform into a “heaven” in a span as brief as five years. It’s a provocative thought—what if we actually could? This question resonates with many who are eager for change and growth. During his address at the 32nd Annual Meeting of the African Export-Import Bank (Afreximbank), Dangote emphasized the…

Revolutionizing Nigeria’s Fuel Landscape: The Impact of Dangote’s 4,000 CNG Trucks

What’s Driving This At present, Dangote’s refinery operates at an impressive capacity of about 85 percent, translating to 550,000 barrels per day from a potential 650,000. This makes it stand out as one of the largest single-train refineries in the world—a title that carries considerable weight in the industry. Why does size matter? A larger operation reduces the cost per barrel, and that’s just the beginning of the benefits. Pair this with the strategic introduction of Compressed Natural Gas (CNG) trucks, which…

Concerns Over Dangote’s Fuel Strategy Ignite Backlash and Debate

Impact of Dangote's Supply Strategy on the Petroleum Industry In a bold move that some are heralding as revolutionary, the company announced its intent to supply Premium Motor Spirit (PMS) and diesel to a wide array of customers. This includes fuel marketers, gasoline dealers, manufacturers, telecom firms, aviation companies, and other sizable consumers. To sweeten this deal, they promised free logistics, enticing many stakeholders to take notice. Yet, as…

Concerns Over Dangote’s Fuel Strategy Ignite Backlash on Monopoly Fears

In a bold move designed to enhance distribution, a prominent company recently announced the provision of complimentary logistics to a diverse array of customers. This initiative will allow them to supply Premium Motor Spirit (PMS) and diesel to fuel marketers, gasoline dealers, manufacturers, telecommunications firms, aviation companies, and other significant users. It appears to be a strategic step aimed at consolidating market share and expanding the customer base. Yet, this announcement has provoked swift backlash from…

Dangote’s $20B Refinery Taps U.S. Crude, Sparking Nigerian Output Concerns

It’s an interesting time in the world of oil, particularly in Nigeria, where the national petroleum company and the Dangote refinery— the country’s pride, with a staggering $20 billion investment and an impressive capacity of 650,000 barrels per day (bpd)— have recently shifted their sourcing strategy. In a surprising twist, they are now turning to the U.S. crude oil market. According to data from Bloomberg's ship tracking, this decision is set to take effect in 2025, marking a significant change in their operational…

Dangote’s Choice: Forgoing $120B in Big Tech to Invest in Nigeria

The Visionary Legacy of Aliko Dangote and the Nigerian Economy The Nigerian government has recently made headlines for honoring billionaire industrialist Aliko Dangote, commending him for his unwavering commitment to national development. This tribute notably accentuates the significance of the $19 billion Dangote Refinery, a monumental project that has implications far beyond its economic metrics. The narrative surrounding this commitment is as much about resilience and vision as it is about financial gain. At the Taraba…

Dangote’s Fortune Soars 72%, Leading Africa’s Wealthiest

Aliko Dangote, a name synonymous with monumental wealth in Africa, has made waves across various industries, from petroleum to cement, sugar, and beyond. His financial empire not only underscores his business acumen but also positions him as a pivotal figure in Africa's ever-evolving economic narrative. In the world of business, success is often measured by strategic foresight and the expansion of industries. Dangote's staggering fortune is a living testament to these…

Nigerian Manufacturers Claim Dangote’s Innovation May Save $267M

Nigeria's Polypropylene Revolution: A New Dawn in Industrial Resilience An intriguing transformation is brewing within Nigeria's industrial landscape. With strategic investments from leading industrial conglomerates such as the Dangote Group, the country is poised to significantly diminish its dependency on imported raw materials, especially within the textile sector. But what does this shift truly signify for the nation at large? Imagine being able to save a staggering $267 million in…

Dangote’s Move Impacts Revenue from Fuel Imports

Edited By Ali Musa Axadle Times International–Monitoring. In a move that has reverberated across the fuel market, the Dangote Refinery made headlines on Wednesday by announcing a significant reduction in the ex-depot price of petrol. The price has been slashed by N65, bringing it down from N890 to N825 per liter. At first glance, this may appear as just another business decision, but as with many things in life, the ripple effects reach far and wide. Starting…

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