Business

Ownership: Kogi, Dangote Cement Management Trade Words

Published

3 years ago

October 9, 2022

The Kogi government and the management of Dangote Cement Plc. are at loggerheads over the ownership of the company.

The previous temporary closure of the company by some youths recently has caused a stand-off between the state government and the company, located in Obajana, near Lokoja.

On Saturday, the state government alleged that the management of the company was plotting to disrupt public peace in the state.

The state government in a statement issued by the state Commissioner for Information, Kingsley Fanwo in Lokoja, said that the government was in possession of evidence to prove its allegations.

“We have uncovered certain plans by the company at a meeting held last night to cause chaos across the state as a fight back strategy against the state government’s decision to get its own legally supported equity from the cement company” the commissioner said.

The commissioner further alleged that the management of the company intended to engage other security means to harrass some government officials.

“They resolved to block all the major highways across the state with their trucks to make traffic unfriendly in the state.

“If the company attempts to carry out any of his threats or deny our claims which are supported by facts, we will release visuals and audio of their meeting on this,” Fanwo said.

One of the company’s public relations officiald, Mr Abubakar Jibrin, would not comment on any issue related to the matter.

But the management of Dangote Cement Plc. said that the state government allegedly used some groups of persons to destroye the company’s assets and inflict injuries on some staff.

In a statement issued by the Corporate Communications Department of Dangote Cement Plc. in Lokoja, the management of the company alleged that some people invaded the cement plant on Wednesday.

“No fewer than 27 staff of the company are currently in bad conditions after the invasion.

“Cement trucks were also burnt, and many others were vandalised, as they forcefully took the company’s buses and vans.

“Since the attack, our vehicles carrying diesel have been attacked on Anyigba road,” the statement alleged.

The statement said that some victims of the invasion were currently admitted to the emergency section of the Kogi State Specialist Hospital in Lokoja.

Business

NNPCL Reduces Fuel Price After Dangote Refinery’s Adjustment

Published

2 weeks ago

August 14, 2025

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.

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.

Business

Dangote Refinery Reduces Fuel Price

Published

2 weeks ago

August 12, 2025

Editor

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.

Business

Indian Refiners Abandon Russia For Nigerian Crude, As Dangote Refinery Relies On US

Published

3 weeks ago

August 11, 2025

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.

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.