Business
China Visits Nigeria With 3 Ships, Strengthens Bilateral Relationship
Published
2 years agoon
By
Editor
The Chinese Navy Escort Task Group (ETG) 162, comprising MSL Destroyer NANNING, MSL Frigate SANYA, and Supply Ship WEISHANHU, on Sunday visited Nigeria to strengthen bilateral relationship between the two countries.
The Chinese Ambassador to Nigeria, Mr Chi Jian Chun, said that the visitation of the Chinese envoy, scheduled for July 2 to 6, would also enhance maritime security within West Africa.
The News Agency of Nigeria (NAN) reports that MSL Destroyer NANNING, made the port call at Nigerian Port Authority (NPA) Berth 21, while the other two ships remained at anchorage.
Chun said that the delegation from China was big with more than 700 people and three ships to Nigeria.
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“The visit is to further deepen the relationship the two countries have with one another and also seek to strengthen and improve our relationship and cooperation with each other.
“This visit demonstrates the harmony and symphony between Nigeria and China,” he said.
The ambassador said that China and Nigeria would continue to work together and promote peace and harmony while also seeking ways to make contributions to the international community.
“I believe that this visit will deepen the cooperation between both countries military sector so that we can work together to overcome obstacles.
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“We will continue to do more things to facilitate and promote the relationship between the two countries,” Chun said.
Also, the Flag Officer Commanding (FOC) Western Naval Command, Rear Adm. Joseph Akpan, said the visitation would further help to cement the relationship between the two countries.
This is “especially between the Nigerian Navy and the Chinese Navy as well as the military. This will help us fight crimes, especially in the Gulf of Guinea.
“During their period of stay, our men will be interacting, we will be having some sporting activities, exchange of momentous and gifts.
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“We will also discuss the future of both navies, especially on how we can benefit from each other,” Akpan said.
The FOC added that the term called ‘sea riders’ enabled some of the Nigerian Navy personnel onboard the Chinese ship and they could also have some of their own men onboard our ship.
“This helps to foster friendship across the horizon,” Akpan said.
NAN reports that the Chinese people resident in Lagos came out in their numbers to welcome the Chinese envoy at the NPA.
There was also a rich display of the culture of the Chinese people which could be seen in the colourful display of their synchronised dance routine at the port.
(NAN)
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Business
NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment
Published
2 weeks agoon
August 14, 2025By
Editor
The Nigerian National Petroleum Company Limited has reduced its premium motor spirit pump price on Thursday, according to DAILY POST.
It was confirmed that NNPCL retail outlets in the Federal Capital Territory, Abuja, have reduced their pump price to N890 per litre from N945.
This new fuel price has been reflected in NNPCL retail outlets such as mega station Danziyal Plaza, Central Area, Wuse Zone 4, Wuse Zone 6, and other of its filling stations in the nation’s capital.
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The latest downward review of fuel price in NNPCL outlets represents an N55 reduction in fuel pump price.
“It was reduced to N890 per litre this afternoon, down from N945,” an NNPCL fuel attendant told DAILY POST anonymously on Thursday.
This comes a Nigerian filling station, MRS Empire Energy, on Thursday adjusted their fuel pump price to N885 and N946 per litre, down from N910 and N955 per litre.
The latest fuel price reduction trend is unconnected to Dangote Refinery’s ex-depot petrol price adjustment by N30 to N820 per litre from N850 and the price of crude oil in the international market.

Dangote Petroleum Refinery has announced a reduction in the ex-depot (gantry) price of Premium Motor Spirit, PMS, commonly known as petrol, by N30, from N850 to N820 per litre, effective from August 12, 2025.
This was disclosed in a statement by the company’s spokesman, Anthony Chijiena, on Tuesday.
The 650,000-barrel-per-day plant said the move is part of its unwavering commitment to national development, assuring the public of a consistent and uninterrupted supply of petroleum products.
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“In line with our dedication to operational excellence and sustainable energy solutions, Dangote Petroleum Refinery will commence the phased deployment of 4,000 CNG-powered trucks for fuel distribution across Nigeria, effective August 15, 2025,” said Chijiena.
The announcement comes as the refinery prepares to commence direct fuel distribution nationwide. The development is expected to lead petroleum product marketers to reduce their pump prices in the coming days.
In Abuja, the retail fuel price stood between N885 and N970 per litre as of Tuesday evening.
Business
Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US
Published
2 weeks agoon
August 11, 2025By
Editor
India Refineries have abandoned Russian crude for Nigerian crude, while domestic refiner Dangote Refinery relies heavily on West Texas Intermediate crude from the United States of America.
This followed a recent sanction threat by US president Donald Trump on India over continued patronage of Russian crude.
According to Reuters, industry sources said that Indian Oil Corporation recently bought one million barrels of Nigeria’s Agbami crude for September 2025 delivery in a tender awarded to global trader Trafigura.
Also included are one million barrels of Angola Girassol, one million barrels of US Mars, three million barrels of Abu Dhabi Murban, and two million barrels of Nigerian oil, according to Reuters.
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The report noted that the purchase is part of a broader sourcing spree that has seen Indian refiners secure millions of barrels from non-Russian sources post July 2025.
Meanwhile, Indian refiners secured purchases of Nigerian crude grades; the $20bn Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, is relying on around 60 percent on US and other imoorts to feed its processing units.
Data showed that the refinery imported an average of 10 million barrels in July 2025, saying it was increasingly relying on the US for its feedstock despite the naira-for-crude deal with the Federal Government, which kicked off in October last year.
According to Reuters, the Indian Oil Corp and Bharat Petroleum have bought a million barrels of non-Russian crude billed for delivery in September and October after the US pressured India to halt purchases from Russia.
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Indian state refiners had been largely absent from the Nigerian crude market spotlight since 2022; they have in the past concentrated on Russian crude amid the Russian-Ukrainian war. However, the Indian refiners paused Russian purchases in late July 2025 after pressure from US President Donald Trump.
On the part of Dangote Refinery, data from commodities analytics firm Kpler showed that in July, US barrels accounted for about 60 percent of Dangote’s 590,000 barrels per day of crude intake, with Nigerian grades making up the remaining 40 percent.
In July, the Dangote refinery’s crude imports surged to a record 590 kbd—driven largely by US barrels overtaking Nigerian supply for the first time—amid ongoing domestic sourcing challenges, Kpler reports.
“While WTI has held a significant share in Dangote’s import slate since March, this is the first time US crude has overtaken Nigerian supply—a shift driven by several factors,” Kpler stated.
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