Dangote

By Abdullahi Mukhtar Algasgaini

A serious allegation has been made against Engr. Farouk Ahmed, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

He is accused of spending over $5 million on the foreign secondary and tertiary education of his four children in Switzerland.

According to the allegation, the estimated cost for each child’s secondary education—covering annual tuition, air tickets, and upkeep—is $200,000. Over six years, this amounts to $1,200,000 per child.

For all four children, the total secondary education expense is estimated at $4,800,000.

Furthermore, an additional $210,000 was reportedly spent in 2025 for the MBA education of one of his children, Faisal. This brings the approximate total for tuition and upkeep across all children to around $5,000,000.

The statement, signed by Alliko Dangote, emphasizes that “facts don’t lie” and raises critical questions about the source of these funds.

It contrasts the enormous expenditure with the plight of many parents in Engr. Ahmed’s home state of Sokoto, who are said to struggle to afford school fees as low as ₦10,000 for their own children and wards.

The core demand of the allegation is transparency: “Nigerians deserve to know the source(s) of these sums of money paid by a public officer.”

By Anwar Usman

The Petroleum Products Retail Outlets Owners Association of Nigeria has announced a three-day forewarning of suspension of lifting and dispensing of petroleum products commencing from the early hours of Tuesday.

The National President of PETROAN, Billy Gillis-Harry, in a statement issued on Sunday, said the forewarning on suspension of dispensing petroleum products was in advocacy for healthy competition as against any form of monopoly in the sector.

The News Agency of Nigeria reports that the Nigeria Union of Petroleum and Natural Gas Workers had announced that its members would commence a nationwide strike from Monday, September 8.

The strike is in protest against what it described as anti-union labour practices, linked to the deployment of newly imported Compressed Natural Gas trucks by the Dangote Refinery, for direct distribution of petroleum products.

Dangote’s programme on direct distribution of petroleum products to end users aimed at eliminating logistics costs, enhancing energy efficiency, promoting sustainability, and supporting Nigeria’s economic development.

The president reiterated that the action of NUPENG would be both lawful and peaceful, highlighting the association’s commitment to promoting workers’ rights and benefits through constructive engagement.

He added that, “PETROAN underscores its commitment to advancing the interests of Nigerian citizens in the pricing stability of the petroleum sector and promoting a stable and productive industry”.

He called on President Bola Tinubu, Minister of State for Petroleum (Oil), and the Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, to intervene in the proposed actions of NUPENG and PETROAN.

He also urged the Group CEO of Nigerian National Petroleum Company Limited, the Director-General of DSS, and the Inspector General of Police to intervene urgently in the actions.

The intervention, he said, would avert potential hardship and pain on citizens arising from the suspension of lifting and dispensing of petroleum products.He appealed to the president to find a solution to the crisis and ensure the smooth operation of the oil and gas sector to minimise disruptions to the nation’s economy.

Gillis-Harry further said that pump attendants at PETROAN-member filling stations were equally registered members of NUPENG, hence, the strike by NUPENG would mean these attendants would be absent from duty.

He warned filling station owners not to discipline or sack any pump attendant who would be absent from duty until the end of the strike.

By Abdullahi Mukhtar Algasgaini

The Dangote Group has announced its plan to distribute petroleum products across Nigeria free of charge in an effort to reduce the soaring fuel prices in the country.

A fleet of Compressed Natural Gas (CNG)-powered trucks has already arrived in Lagos, signaling the company’s commitment to easing the fuel supply crisis.

This move comes as the Nigerian government tightens regulations on petroleum distribution, potentially displacing independent marketers from the sector.

Meanwhile, Aliko Dangote has announced his retirement from the cement business to focus entirely on the petroleum industry.

The development has sparked mixed reactions among Nigerians, with many questioning how this shift will reshape the nation’s fuel market dynamics.

By Abdullahi Mukhtar Algasgaini

Aliko Dangote, Chairman of the Dangote Group, on Thursday named the road leading to the Dangote Refinery after President Bola Tinubu.

The honour was announced during President Tinubu’s first visit to the refinery, where he also commissioned the Lekki Deep Sea Port concrete road and flagged off Section 2 of the Lagos-Calabar superhighway.

Dangote disclosed that his company is investing N900 billion in road construction across Nigeria, despite paying N450 billion in taxes last year.

The newly named Bola Ahmed Tinubu Road connects the refinery to key infrastructure, including the Sagamu-Benin Expressway.

By Uzair Adam Dangote Petroleum Refinery has once again reduced the gantry price of Premium Motor Spirit (PMS), popularly called petrol, cutting it by 3.5 per cent.

The new rate is now N835 per litre, down from the previous N865, following a steady decline in global crude oil prices, which recently dropped to $64 per barrel from over $70.

This marks the second price cut in recent weeks, after the refinery earlier brought the price down from N880 to N865 per litre.

However, marketers reportedly failed to reflect the reduction at retail outlets.

With a daily refining capacity of 650,000 barrels, the Dangote Refinery continues to shape Nigeria’s downstream petroleum sector and influence market trends.

By Sabiu Abdullahi

By Uzair Adam

Dangote Refinery has approached the court seeking the annulment of import licenses held by the Nigerian National Petroleum Company Limited (NNPCL), Matrix, and four other firms.

The Daily Reality learned that Dangote Refinery is also claiming N100 billion in damages from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for allegedly continuing to issue import licenses to NNPCL and the other companies.

Details later…

By Anas Abbas

The Nigerian National Petroleum Company Limited (NNPCL) Buys Petrol from Dangote Refinery at N898 per Litre, Commences Loading of 300 Trucks on Sunday.

The Daily Reality, reported that, NNPCL’s Chief Spokesperson, Olufemi Soneye, clarified that the initial loading price was N898 per litre, debunking claims of N760 per litre.

As of press time, over 70 trucks had been loaded.This milestone follows the announcement by Finance Minister Wale Edun that NNPCL will be the sole off-taker of refined petrol from Dangote Refinery.

The minister revealed that diesel from the refinery would be sold in Naira to interested buyers, while PMS would be sold exclusively to NNPCL for distribution to marketers.

The Federal Executive Council (FEC), led by President Tinubu, had approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.

This initiative aims to reduce pressure on the naira, eliminate transaction costs, and improve petroleum product availability.

Implementation committees have worked tirelessly to finalize modalities, with NNPCL set to supply 385kbpd of crude oil to Dangote Refinery from October 1.

In return, the refinery will supply PMS and diesel of equivalent value to the domestic market, paid for in Naira.

The government is also establishing a one-stop shop in Lagos to streamline service provision from regulatory agencies, security agencies, and stakeholders, ensuring a seamless implementation of this initiative.

By Uzair Adam

The Federal Government has announced that petrol supply from Dangote Refinery will commence on Sunday, September 15, 2024, following a pricing and supply agreement reached between both parties.

During a press briefing in Abuja, Zacch Adedeji, a member of the Presidential Committee on the Sale of Crude Oil and Refined Products and Chairman of the Federal Inland Revenue Service (FIRS), revealed that the Nigerian National Petroleum Company Limited (NNPC) will serve as the sole buyer of petrol from the refinery.

Other marketers will purchase the product from NNPC.The agreement stipulates that starting October 1, 2024, NNPC will supply 385,000 barrels of crude oil per day to Dangote Refinery, with payments to be made in Naira.

In return, Dangote Refinery will provide petrol and diesel to the domestic market, with diesel available for purchase by any interested buyer, while petrol will be reserved exclusively for NNPC.

The deal is expected to alleviate the ongoing petrol shortages across the country and ensure continued subsidy payments on the product.

The Presidential Committee confirmed that the first batch of petrol from Dangote Refinery will be ready for loading on Sunday.

By Sabiu Abdullahi

Presidential candidate Atiku Abubakar has cautioned against deliberate attempts to hinder the progress of the Dangote refinery, adding that it’s significant in meeting Nigeria’s energy and foreign exchange needs. 

In a statement on his official X handle, Atiku drew an analogy, saying, “Each parent eagerly awaiting the arrival of a child will dutifully undertake the necessary measures to ensure that the nurturing and development of this precious blessing remain a primary focus.” 

He applied this principle to investments, stating, “With this understanding, I am cautious in considering any deliberate attempts to impede the progress of the Dangote Refinery.

“I call upon all Nigerians to take resolute actions to provide reassurance that both internal and external forces are not collaborating to prevent us from reaping the benefits promised by this eagerly anticipated transformative endeavour.” 

Atiku’s warning comes amidst a dispute between the Dangote refinery management and the Nigerian Upstream Petroleum Regulatory Commission over crude oil allocation.