Dangote says his refinery currently stores N600bn petrol – Newstrends
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Dangote says his refinery currently stores N600bn petrol

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Dangote Refinery

Dangote says his refinery currently stores N600bn petrol

President of Dangote Industries Limited (DIL), Aliko Dangote, has assured that the Dangote Petroleum Refinery has sufficient Premium Motor Spirit (PMS), commonly known as petrol, in storage to meet Nigeria’s domestic demand.

Speaking over the weekend, Dangote disclosed that the refinery currently holds more than half a billion litres of petroleum products, valued at over N600 billion.

He stated, “…as we speak right now we have more than half a billion litres. The Refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements.”

Dangote emphasized that the refinery project is not solely for Nigeria but serves the African continent as well. He said, “This refinery is not only for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) deal. We are trying to see how we trade with other African countries.”

His remarks followed a tour of the refinery complex by a delegation from Zambia, led by the country’s Minister of Energy, Mr. Makozo Chikote. The visit was aimed at exploring potential collaborations in the energy sector.

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After the tour, Chikote commended Dangote’s vision, saying, “In Zambia, we created an environment for the private sector to participate in the growth and development of our country. Currently, 100 per cent of our petroleum is done by the private sector. We are targeting increased productivity in mining, agriculture, and other sectors. Your presentation is an immediate solution to our energy needs. We are trying to promote competition among our private players.”

He further stated, “We are looking at Dangote coming on board, which would lead to efficient, reliable, quality, and competitive products, and we want these done like yesterday.”

Expressing optimism about intra-African trade, Chikote added, “From what we have seen, we need to promote trade within Africa to promote each other. We need these countries together to make Africa efficient, and a reliable trade hub. We have seen here that we can learn from what Dangote has done, and this would lead Africa and Africans to stand on their feet and not depend on overseas support in terms of trade.”

Another member of the Zambian delegation, Samuel Maimbo, Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, echoed similar sentiments, emphasizing the need for private-sector-led development.

“There is also not enough government funding to develop Africa. The only way we can finance Africa’s growth at a pace and scale that solves our problem is by working through the private sector, which is why we are here today, to learn and to see what an ambitious programme looks like,” he stated.

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Speaking on the refinery’s production capacity, the Vice President of Dangote Industries Limited, Edwin Devakumar, highlighted its ability to produce high-quality refined products.

“The project concept was to process the crude from Nigeria and add value. But we also wanted to provide some flexibility to process most of the African crudes and some of the Middle Eastern crudes,” he said.

Devakumar explained, “In another concept, what we did was maximum value extraction. That is a process where every barrel of crude which goes in, the value addition should be the best.”

According to him, the refinery is well-positioned to supply both local and international markets. “The Refinery can meet all our requirements. 44 per cent can meet the entire requirements of Nigeria, and 56 per cent of the production would be exported. Every day, we produce lighter products of 104 million litres; 57 million litres of petrol every day; 20 million litres of jet fuel; and 27 million litres of diesel production.”

He further noted, “The local consumption is just around 46 million litres, and the remaining 58 million litres will be exported daily.”

The visit by the Zambian delegation underscores the growing recognition of Dangote Refinery’s role in Africa’s energy landscape and the potential for greater intra-African trade in the petroleum sector.

 

Dangote says his refinery currently stores N600bn petrol

Auto

Massilia Motors launches new Mitsubishi L200 with low fuel consumption, advanced engineering 

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Massilia Motors launches new Mitsubishi L200 with low fuel consumption, advanced engineering 

L-R: CFAO Nigeria Country Delegate, Mr. Regis Tromeur; GMD/CEO, Kewalram Chanrai Group, Mr Siva Subramaniam; Deputy Managing Director, CFAO Mobility, Mr. Kunle Jaiyesimi; Managing Director of Massilia Motors, Olivier Lamoure; and General Manager, Sales, Massilia Motors, Mr. Tunji Itiola at the launching of the All-New Mitsubishi L 200 at Eko Atlantic, Lagos …on Friday, April 11, 2025

 

The all-new Mitsubishi L200 pickup, a 2025 edition, has been formally unveiled in Nigeria, courtesy of Massilia Motors.

Massilia Motors, the sole distributor of Mitsubishi brand of vehicles in the country and a joint venture with CFAO Mobility, says the new L200 pickup is coming with low fuel consumption, advanced engineering and ultra-tough characteristics, making it a versatile vehicle for various terrains and conditions.

The unveiling event took place at Eko Atlantic, Victoria Island, Lagos, where guests had the opportunity to experience the new pickup firsthand.

The new L200, already recognized worldwide and well-known in Nigeria, has been completely redefined in this latest model.

It features advanced engineering and ultra-tough characteristics, making it a versatile vehicle for various terrains and conditions.
The L200 is equipped with an All-New Chassis frame for improved ride and handling; lessen noise and vibration; durability; anti-corrosion; crash safety; better body size and wider interior.
The chassis frame is built with high-tensile materials to withstand tough terrain and ensure reliable performance in any condition, complemented by a redesigned suspension system.

Inside, the L200 is designed for comfort, even during long trips, with advanced technology and a thoughtfully crafted living space, according to Massilia.
The new suspension fine tune has some unique features that include Front – Double wishbone that is optimized longer stroke by geometry; Rear – Leaf spring (3 layers) with less friction.

The vehicle, powered by a six-speed manual gearbox on a 2.4-litre petrol engine, features a distinctive grille and appearance, and has won several awards, including the 2024-2025 Japan Car of the Year Design Award.
Built on inherited Pajero DNA with 4WD performance for reliability and ruggedness, Mitsubishi’s Anti-lock braking system (ABS) and Electronic Brake Force Distribution applies brake force while cornering to maintain vehicle stability and optimize traction, preventing torque loss.

The system adjusts engine output and applies brake force to spinning wheels as needed, always ensuring driver safety.
Mitsubishi has also focused on driver and passenger comfort with newly designed seats inspired by their rally heritage, providing excellent body support.

The upgraded air-conditioning system offers adjustable airflow for personalized comfort. Ample storage space and a bucket space of up to 2340mm x 1580mm makes it ideal for various tasks.

Other interior features include a 9-inch infotainment system and a new 7-inch multi-information display and outstanding cabin comfort because of better head and leg room for passengers.

The vehicle is designed to provide slip-resistant footing for safe and easy entry and exit, even in wet or slippery conditions.

The rear bumper corner allows for more foot space when the tailgate is open, featuring the largest step area in its segment.
Managing Director of Massilia Motors, Olivier Lamoure, highlighted the fact that the new L200 comes with lower fuel consumption aided by improved Aero Dynamics with roof and rear spoiler combination.

Another striking feature of the new vehicle is its enhanced cargo and payload capacity with improved turning radius of 6.2m from 5.9m, as well as higher ground clearance from 200mm to 212mm all to guarantee better driver manoeuvrability.
Lamoure added, “At Massilia Motors, it is important for us to give the keys to the customer so they can personally test the vehicle and share their impressions.

“Whether for personal use or for their business, performance and reliability are proven in the field, not in a showroom. This hands-on approach allows customers to truly experience the vehicle’s capabilities.”

Massilia Motors says it also offers prospective customers free test drive which can be booked via www.mitsubishi-motors.com.ng , where further information about the vehicle can also be obtained.
The L200 has a rich history, tracing its roots back to the Forte launched in 1978. Over the past 47 years, about 5.7 million units have been produced across five generations and sold in approximately 150 countries. The latest model continues this legacy with its high-rigidity RISE body, designed to absorb energy and minimize cabin deformation in the event of a crash.
The L200 has also received international accolades, including a five-star rating from Latin NCAP and recognition at the 2024 Arab Car of the Year awards, where it was named “Best Mid-size Pickup”.

Massilia names variants available for the Nigerian market as the Double Cab and Single Cab, adding that it offers genuine spare parts, after-sales services, and a warranty of three years or 100,000km.

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NRC suspends Warri-Itakpe train after multiple engine failure

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NRC suspends Warri-Itakpe train after multiple engine failure

 

The Nigerian Railway Corporation (NRC) on Thursday announced the suspension of its Warri-Itakpe train service, after it experienced multiple technical issues.

The standard gauge train was said to have broken down midway on Tuesday, creating some panic situation among passengers on board.
It said in a statement that the decision to suspend the train operation would allow its technical team “to conduct a full audit, resolve all identified issues, and restore safe and reliable service.”
The NRC statement signed by Henrietta Eregare of the NRC Public Relations Department, read in part, “The Nigerian Railway Corporation (NRC) wishes to inform the general public and our valued passengers that a significant disruption occurred on the Warri-Itakpe rail line on Tuesday, April 9, 2025, due to multiple technical issues involving a train engine failure.
“Management has consequently suspended train services on the route for 72 hours.
“The disruption commenced at approximately 1:38pm and affected both the 8am departure from Warri and the 2pm train from Itakpe.
“Emergency recovery protocols were immediately activated but also suffered a setback due to engine failures.”
It recalled how the corporation swiftly arranged for the safe evacuation of all passengers through road transportation with adequate security presence.
“Passengers were guided off the affected train to waiting cars approximately 500 meters from the track.
It stated, “Some Passengers chose to arrange their own transportation before the arrival of official recovery vehicles—a decision NRC understands given the delay.”
The corporation also disclosed that adequate arrangements had been made for a full refund of the value of tickets to passengers involved in the disrupted trains.
Those interested in using their tickets for future trips can take advantage of the revalidation option, according to the NRC.
“Refund and revalidation process is available on our online ticketing platforms, via our customer service lines, and at all NRC stations,” the statement added.
It expressed regret for the inconvenience caused by the unexpected disruption.
It said, “The Nigerian Railway Corporation takes full responsibility and is actively working to restore normal operations as quickly as possible. We remain committed to the safety, reliability, and comfort of our passengers.”

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Business

BREAKING: Dangote Refinery slashes petrol price to ₦865

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BREAKING: Dangote Refinery slashes petrol price to ₦865

The Dangote refinery has informed marketers and its customers of a downward review of its ex-gantry loading cost to ₦865 per litre.

The new price is N15 less than the facility’s previous price of N880 per litre sold Wednesday.

Our correspondent learnt that the refinery alerted its clients via a notification sent out on Thursday morning.

Our correspondent gathered that the Dangote refinery informed its customers in a notice sent out on Thursday morning.

Remember that marketers had exclusively informed that the 650,000-barrel Dangote refinery was expected to reduce its petrol loading costs by the end of this week, further adding to the decline in fuel prices.

Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria, reassured the public about the price drop while responding to the Federal Executive Council’s direction on the naira-for-crude arrangement.

Following an initial delay, the Federal Executive Council directed on Wednesday that the suspended Naira-for-Crude arrangement with local refiners be fully implemented.

It stated that the initiative with local refineries is not a temporary measure but a “key policy directive designed to support sustainable local refining”.

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The Ministry of Finance announced this in a statement published on its official X handle titled “Update on the Crude and Refined Product Sales in Naira Initiative”.

The statement was released following a meeting on Tuesday between the Minister of Finance, Wale Edun, and representatives from Dangote Refinery, a major beneficiary of the agreement, to review progress and address ongoing implementation matters.

The committee stated that the policy is not a temporary measure but rather a long-term strategy to reduce Nigeria’s reliance on foreign currency for petroleum.

It further stated that the effort is not a one-time or limited intervention but rather a fundamental policy direction aimed at promoting sustainable local refining and bolstering energy security.

The statement read, “The Technical Sub-Committee on the Crude and Refined Product Sales in Naira initiative convened an update meeting on Tuesday to review progress and address ongoing implementation matters.

“The stakeholders reaffirmed the government’s continued commitment to the full implementation of this strategic initiative, as directed by the Federal Executive Council.

“Thus, the Crude and Refined Product Sales in Naira initiative is not a temporary or time-bound intervention but a key policy directive designed to support sustainable local refining, bolster energy security, and reduce reliance on foreign exchange in the domestic petroleum market.”

BREAKING: Dangote Refinery slashes petrol price to ₦865

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