Dangote refinery dismisses PMS round-tripping claims as economically unviable - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Management of Dangote Petroleum Refinery and Petrochemicals has stepped forward to debunk viral allegations suggesting that its Premium Motor Spirit (PMS) and other refined petroleum products are being exported to Lomé, Togo, only to be round-tripped and re-imported into Nigeria, reports ITREALMS.

In an official statement released to ITREALMS, clarified the situation, stating that the company broke its standard policy of ignoring unsubstantiated rumors, citing the need for transparent corporate governance and public accountability. 

ECCIMA Applauds FG’s “Nigeria First” Policy, says 15% Import Tax on PMS and Diesel Will Boost Jobs and Economic Growth - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has commended the Federal Government’s decision to impose a 15% tax on imported petrol and diesel, describing it as a bold and strategic move that will stimulate economic growth, encourage local production, and create employment opportunities for Nigeria’s growing youth population.

ECCIMA has long maintained that the naira cannot appreciate while over 80% of the nation’s needs remain import dependent. Excessive importation of finished goods continues to weaken the currency, especially when these goods can be produced locally. By imposing higher tariffs on products that can be manufactured within Nigeria, the government is taking a critical step toward protecting and revitalizing local industries.

Dangote refinery debunks shutdown rumour, says PMS’s gantry price remains N850 - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Dangote Petroleum Refinery has firmly dismissed recent reports alleging a shutdown of its operations, reassuring the public and market stakeholders that its activities remain fully active and stable.

In an official statement by the Group Chief Branding and Communications Officer, Anthony Chiejina, the refinery’s management categorically denied claims that truck loading has been suspended or that production has been interrupted. “The Dangote Petroleum Refinery is fully operational. There has been no shutdown, nor has there been any suspension of truck loading activities” the statement reads.

Dangote offers transport-free deliveries of PMS, diesel. aviation fuel to all marketers, petrol dealers - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

… Analysts say the initiative will reduce inflation and create jobs

A recent initiative by the Dangote Petroleum Refinery, which includes the distribution of Premium Motor Spirit (PMS) and diesel to marketers, petrol dealers, manufacturers, telecommunications companies, the aviation sector, and other large-scale users across the country, with free logistics support to enhance the distribution network, has the potential to reduce inflation, create employment opportunities, and lower the prices of petroleum products.

Experts said that the refinery’s decision to deploy 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers could also dismantle the monopoly held by intermediaries and contribute to a cleaner environment.

Dangote PMS now N875/litre - ITREALMS

ITREALMS ... making leadership SENSE with digital news!


Dangote Petroleum Refinery & Petrochemicals has announced another reduction of N15 in the price of its high-quality Premium Motor Spirit (PMS).

As a result of this reduction, Nigerians will now purchase the product at the following prices: N875 per litre in Lagos; N885 per litre in the South West; N895 per litre in the North West and North Central, while it will be sold for N905 per litre in the South East, South South, and North East.

Dangote: Purchase PMS above advertised rates @key partners, get refund - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

... Absorbs N16bn loss by refunding N65/litre to marketers for Nigerians to benefit from cheaper fuel

The Dangote Petroleum Refinery & Petrochemicals has announced that it will refund customers who purchase Premium Motor Spirit (PMS) at rates higher than the advertised prices from any of its key partners – AP (Ardova Plc), Heyden, or MRS – across Nigeria.

This move follows the refinery's recent reduction of its gantry price from N890 per litre to N825 per litre. The refinery stated that this is part of its ongoing efforts to ensure that Nigerians are the primary beneficiaries of the price reduction and in line with President Bola Tinubu's Renewed Hope Agenda, which aims to stimulate the economy.

N825 per litre: Dangote crashes PMS price twice in Feburary - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

Dangote Petroleum Refinery & Petrochemicals has slashed the price of Premium Motor Spirit (PMS), or petrol, for the second time this month. It has cut N65 off the previous price of N890, bringing it down to N825 per litre at the gantry (ex-depot). This follows a N60 reduction on February 1.

The ex-depot price has thus decreased from N950 per litre in January to the current price of N825 per litre, representing a reduction of N125 per litre within 26 days.

Dangote refinery exports PMS to Cameroon - ITREALMS

ITREALMS ... making leadership SENSE with digital news!


In a landmark move for regional energy integration, Dangote Refinery and Neptune Oil jointly announced the first-ever export of Premium Motor Spirit (PMS) from Dangote Refinery, Africa's largest oil refinery, to Cameroon.

This milestone, resulting from a strategic collaboration between the two companies, underscores their commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region's growing energy demands… Alhaji Aliko Dangote, President and CEO of the Dangote Group, stated: “This first export of PMS to Cameroon is a tangible demonstration of our vision for a united and energy-independent Africa. With this development, we are laying the foundation for a future where African resources are refined and exchanged within the continent for the benefit of our people.”

Price war: NNPC Ltd releases estimated pump prices of PMS from Dangote Refinery - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Nigerian National Petroleum Company Limited (NNPC Ltd) has released the estimated prices of Premium Motor Spirit (PMS), also known as Petrol obtained from the Dangote Refinery in its retail stations across the country, reports ITREALMS.

A press statement available to ITREALMS signed by the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, disclosed they have released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country.

Dangote, NNPCL at war over N898 PMS price - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

Dangote Group has refuted claims that it sales Premium Motor Spirit (PMS) at N898 per litre to the Nigerian National Petroleum Corporation Limited (NNPCL), drawing a battle line, reports ITREALMS.

Group Chief Branding and Communications Officer, Mr. Anthony Chiejina in a press statement available to ITREALMS, described such as both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years.

Financial strain hits NNPCL over PMS supply costs, impacting sustainability - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The NNPC Ltd has acknowledged recent reports in national newspapers regarding the company's significant debt to petrol suppliers, reports ITREALMS.

According to the Chief Corporate Communications Officer, NNPC Ltd, Olufemi Soneye, this financial strain has placed considerable pressure on the company and poses a threat to the sustainability of fuel supply.

NNPC insists 'No increase in PMS prices,' assures Nigerians - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Nigerian National Petroleum Company (NNPC) Ltd. has insisted that there no increase in the cost of Premium Motor Spirit (PMS) also known as petrol locally, reports ITREALMS.

The Chief Corporate Communications Officer, NNPC Ltd, Mr. Olufemi Soneye made this declaration in a press statement available to ITREALMS, assuring the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol in the country.

No increase in PMS prices, says NNPC Ltd - ITREALMS

ITREALMS ... making leadership SENSE with digital news!

The Nigerian National Petroleum Company (NNPC) Limited has assured the public that there is no imminent increase in the cost of Premium Motor Spirit (PMS), commonly known as petrol, reports ITREALMS

The Chief Corporate Communications Officer, NNPC Ltd, Mr. Olufemi O. Soneye in a press statement available to ITREALMS in Abuja urged Nigerians to disregard unfounded rumours and assures them that there are no plans for an upward review of the PMS price.

Its official, petrol now sales for N145 per litre - FG

ITRealms:

The Federal Government today, Wednesday removed subsidy from sale the Premium Motor Spirit (PMS), otherwise known as petrol or fuel, which will henceforth sale for N145 per litre, reports ITRealms.

Announcing this after a meeting in Abuja today, monitored through the African Independent Television (AIT), ITRealms gathered that the Minister of State for Petroleum, Dr. Emmanuel Ibe-Kachikwu made this disclosure.

According to him, the Federal Government at the same time opens the space for independent marketers to import petrol into the country.

He explained that marketers are now free to bring in cargoes and sell, subject to meeting standard quality control.

ITREALMS ... everything news digitally!