Business News of Monday, 28 April 2025

Source: www.legit.ng

Dangote Refinery reacts to reports of shutting down petrol processing unit for repairs

Dangote Refinery Dangote Refinery

Reports made the rounds over the weekend that the Dangote Petroleum Refinery, Lekki, had shut down its petrol processing unit for maintenance.

The report claimed that the unit had to undergo some repairs, and would be shut down till the exercise was completed.

It added that this included the residue fluid catalytic cracker, a core part of the gasoline-making unit at the refinery.

It noted that given the size of the unit, the scheduled maintenance could cause a major disruption in regional trade flows.

A senior official from the Dangote Refinery has spoken on the report.

Dangote Refinery responds to reports

The Dangote Petroleum Refinery described as untrue the reports that it had shut down its petrol processing unit for maintenance.

A senior spokesperson who spoke with the PUNCH on Sunday noted that activities are still ongoing in the unit, and that millions of litres of Premium Motor Spirit were being loaded.

The spokesperson debunked the Bloomberg report that claimed the fuel unit was undergoing repairs.

The spokesperson invited members of the public to go to the refinery and see the number of trucks being loaded with premium motor spirit daily, rather than depend on unconfirmed reports.

Dangote Refinery continues price war, releases new price list
Meanwhile, Dangote Petroleum Refinery has released the official petrol prices for all its partner filling stations across the country.

These major downstream players are Ardova Plc, MRS Oil Nigeria Plc, Technooil, Optima Energy, Hyde, and Heyden.

According to a price list shared on X on Tuesday, April 23, Dangote said that all its partner filling stations would sell fuel at N890 per litre to Nigerians in Lagos.

This continues the ongoing price war with Dangote Refinery now offering the cheapest prices for the product.

Nigeria has 5th-cheapest fuel in Africa

The prices have also placed Nigeria among the countries with the cheapest fuel globally.

According to data published by Global Petrol Prices, Nigeria's fuel was the 5th cheapest in Africa and 12th cheapest in the world as of Monday, April 21, 2025.

The federal government's deregulation of the downstream sector has yielded many positive returns, including the price war.

Nigerians are the ultimate beneficiaries as stakeholders have stated that the price war will ensure that Nigerians always get the best deal.

Dangote Group set to end fuel importation

In related news, Legit.ng reported that the Dangote Group has unveiled plans to end the importation of critical commodities, including fuel.

The group shared a strategy to accelerate its backwards integration programme, boost local production and eliminate imports.

This cuts across its fuel production, sugar, and other agricultural production activities.