BUSINESS

Why NNPC Increased Petrol Price

Daily Dispatch October 9, 2024

A litre of premium motor spirit (PMS) popularly called petrol has hit N977 at the Dangote Refinery, major supplier of the product to the Nigerian National Petroleum Company Limited (NNPCL), Platforms Africa can report authoritatively. Findings exclusively conducted

BUSINESS

Fidelity Bank improves ease of Revenue Collection with Tax Booths

Daily Dispatch October 9, 2024

As part of initiatives towards increasing efficiency in revenue collection in Anambra State, leading financial institution, Fidelity Bank Plc, has donated 10 units of tax booths to the Anambra State Internal Revenue Service (AIRS). Commenting on the donation, the Regional Bank Head, Awka, Fidelity Bank Plc, Dr. Nosa Orumwense, explained that the donation is borne […]

BUSINESS

Foreign Investors set to build four new refineries in Nigeria – Minister

Daily Dispatch October 9, 2024

A consortium of South Korean investors is set to build four refineries, each with a 100,000-barrel-per-day capacity, in various parts of Nigeria. This was disclosed by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, during the first summit organised by the Crude Oil Refineries Owners Association of Nigeria, held in Lagos on Tuesday. […]

BUSINESS

Oil Marketers to begin direct Dangote petrol purchase

Daily Dispatch October 9, 2024

Major oil marketers will soon begin direct purchases of Premium Motor Spirit (PMS), commonly known as petrol, from the Dangote Petroleum Refinery as the Nigerian National Petroleum Company Limited (NNPCL) steps down from its role as the sole off-taker of fuel from the $20 billion facility. The shift is expected to occur between Thursday and […]

BUSINESS

Despite Producing 3.4million bad, Africa still import 3million bpd – Dangote laments

Daily Dispatch October 9, 2024

Nigeria must enhance its crude oil production capacity and effectively manage its crude supply to ensure adequate feedstock for domestic refineries to transit from a net importer to a net exporter of petroleum products. Chairman of Dangote Refinery and Petrochemicals Company Limited, Aliko Dangote, made this assertion during his keynote address at a summit held […]

BUSINESS

NNPC opens market for other marketers to buy petrol directly from Dangote Refinery

Daily Dispatch October 7, 2024

The Nigerian National Petroleum Company Limited (NNPC) is ending its exclusive purchase agreement with Dangote Refinery, opening up the market for other marketers to buy petrol directly from the refinery. This means NNPC will no longer be the sole off-taker, and marketers can now negotiate prices directly with Dangote Refinery. This development aligns with the […]