He said the conglomerate had invested about ₦2 trillion in trucks and logistics to strengthen distribution and stabilise fuel supply nationwide.

According to him, the new fleet has created 24,000 jobs, with salaries four times the minimum wage.

“We are not here to take anyone out of the market. Every day, trucks will be arriving. By the end of November, we will have 10,250 CNG trucks in operation,” Dangote said.

He added that the company had purchased 10,000 trucks, including CNG and dry cargo carriers, to modernise the country’s transport system.

Dangote further disclosed plans to introduce electric vehicles by January 2026 as part of the group’s expansion drive. He said Nigeria was on track to become the largest fertiliser producer in the world, describing it as “a big celebration for the country.”

“Our aim is to modernise, generate jobs every day, and make life easier for Nigerians. We will not be distracted by the noise of unions,” he stated.

He revealed that Dangote Refinery currently lifts 40,000 tonnes of diesel monthly, with over 1.6 billion litres of fuel already exported.

Meanwhile, the newly acquired trucks began operations on Monday, loading petroleum products at the refinery for direct supply to filling stations across the country.

The refinery had in August announced the arrival of the first batch of its 4,000 CNG trucks, with distribution earlier scheduled for August 15.

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The Dangote Petroleum Refinery has begun the phased receipt of 4,000 Compressed Natural Gas (CNG) trucks ahead of the commencement of its nationwide petroleum product distribution operations.

The initiative, part of the company’s logistics programme, is expected to transform product distribution across Nigeria, reduce costs, and improve efficiency for customers.

In June, the refinery announced it had invested over ₦720 billion to implement the scheme, projected to save Nigerians more than ₦1.7 trillion annually. The programme will also benefit over 42 million Micro, Small and Medium Enterprises (MSMEs) by cutting energy costs and boosting profitability.

From August 15, Dangote will begin direct delivery of petrol and diesel to filling stations, industrial facilities, and other high-volume consumers. The refinery said it will meet Nigeria’s daily demand of 65 million litres of refined products—45 million litres of Premium Motor Spirit (PMS), 15 million litres of diesel, and five million litres of aviation fuel.

With average logistics costs estimated at ₦45 per litre, the refinery will absorb over ₦1.07 trillion yearly in free distribution expenses. The ₦720 billion investment also covers the establishment of nationwide CNG “mother and daughter” stations and other infrastructure to sustain the free delivery initiative.

The company described the scheme as a strategic move to eliminate distribution bottlenecks, enhance energy efficiency, promote environmental sustainability, and support economic growth. It is expected to revive dormant filling stations, create over 15,000 direct jobs, curb cross-border smuggling, and promote an environmentally friendly distribution system.

The Presidency hailed the initiative as a major boost to the Federal Government’s drive to mainstream gas-powered transportation. Commercial Coordinator of the Presidential Compressed Natural Gas Initiative (PCNGI), Tosin Coker, said the move underscored the viability of CNG as a cost-effective, low-emission energy source.

“Dangote Group’s acquisition of 4,000 CNG trucks is not only impressive in scale but also highly strategic. It signals that CNG is no longer a distant prospect but a practical solution to high energy costs, emissions, and supply chain challenges,” he said.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) described the development as a timely intervention in the downstream sector. IPMAN National Publicity Secretary, Chinedu Ukadike, said it would ease the logistical burden on independent marketers, who have faced high transport costs due to non-functional pipelines and depots.

Development Economist, Prof. Ken Ife, said the move would help drive down PMS prices and deliver broad economic benefits, while Financial Derivatives Company CEO, Bismarck Rewane, said it would break the grip of middlemen on the sector by eliminating bridging costs and enabling uniform pricing nationwide.

Energy experts Kelvin Emmanuel and Ibukun Phillips also commended the initiative, describing it as a turning point that could enhance access, affordability, and equitable distribution, particularly in rural areas.

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Dangote made the remarks at the weekend during a visit by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, to the $20bn Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited, located in Ibeju-Lekki, Lagos.

He specifically praised the Federal Government’s recent efforts at addressing crude oil supply challenges facing domestic refineries.

According to him, the Naira-for-Crude initiative and the Nigeria First policy introduced under the Tinubu administration are commendable and could significantly fast-track Nigeria’s economic recovery.

“I believe we must sincerely thank His Excellency, President Bola Ahmed Tinubu, for ensuring that there have been improvements in the supply of crude oil. His insistence that all crude oil transactions be conducted in naira has been particularly commendable,” Dangote said.

He stressed the importance of pricing and purchasing crude oil in the local currency to enable domestic refineries meet market demand efficiently.

“For us to effectively meet market demand—which we have the capacity to do—it is essential that crude is priced and purchased in our local currency,” he added.

The business mogul further described Tinubu as “a listening president” whose economic policies are already yielding positive results in the private sector.

The Dangote Refinery, which began operations recently, is one of the largest single-train refineries in the world and is expected to play a key role in meeting local fuel demands and reducing Nigeria’s dependence on imported petroleum products.

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• EFCC, ICPC strong in law, weak in action – Akande

• Online publishers must rescue Nigeria’s democracy – Farounbi

As Nigeria inches closer to the 2027 general elections, prominent voices in media, governance, and civil society have expressed concern over the country’s deepening leadership deficit, warning that continued public distrust, systemic corruption, and elite capture could threaten democratic consolidation.

The alarm was sounded on Wednesday at the 9th Anniversary Lecture and Award Ceremony of the South West Guild of Online Publishers (SWEGOP), held at the International Conference Centre, University of Ibadan, Oyo State. The event drew a cross-section of journalists, academics, diplomats, and public policy experts who gathered to reflect on the theme of good governance and national rescue.

Delivering the keynote on behalf of the Guest Lecturer, Prof. Adeolu Akande, a respected journalist, editor, and former presidential spokesperson, Dr. Idowu Johnson presented a critical evaluation of Nigeria’s governance architecture, warning that the country has been “captured by the bourgeoisie,” leaving democratic ideals hollow and leadership without legitimacy.

“The Nigerian state has been hijacked by an elite class whose primary interest is accumulation and self-preservation,” Johnson said. “Until we address this structural distortion, we cannot talk about good governance, justice, or national development.”

He noted that more than sixty years after independence, millions of Nigerians still lack access to basic social services such as education, healthcare, housing, and food. Johnson recalled a time in the 1970s when modest salaries could afford decent living and personal growth, contrasting it with today’s harsh economic realities.

According to him, Nigeria’s progressive decline in service delivery is evident in the education sector, where PhD tuition at the University of Ibadan has risen from ₦19,000 in 2003 to over ₦300,000 in recent years, while academic staff salaries have barely moved. This, he said, has made education inaccessible to many and worsened the brain drain.

Johnson described the state of healthcare as equally worrisome, recalling how Lagos once had functional and free primary healthcare centres during his childhood. He lamented that the collapse of such essential systems has pushed the country deeper into poverty, insecurity, and underdevelopment.

The speaker identified corruption, lack of accountability, money politics, ethno-religious manipulation, and abuse of the rule of law as major barriers to good governance. He criticized the failure of anti-corruption agencies like EFCC and ICPC, noting that despite having strong legal frameworks, they remain weak in execution and selective in enforcement.

“Impunity thrives because nobody has been punished. Those who destroyed the economy still walk free and even contest elections. The institutions exist, but they lack political will and courage,” Johnson said.

The Don stressed that the 2027 elections represent a critical opportunity to reform Nigeria’s democratic process and rebuild public trust. Among his recommendations were electoral reforms, including electronic transmission of results, recovery of looted funds, institutional strengthening, and the enforcement of campaign finance laws.

Johnson also challenged journalists and citizens to go beyond commentary and actively participate in politics. “Why can’t media professionals or the average Nigerian run for governor or president?” he asked. “Because politics has been monetized. A governorship race can cost up to ₦50 billion—this must change.”

Earlier in his welcome address, SWEGOP President, Pastor Bisi Oladele, described the lecture as a timely intervention to address the widening gap of trust between government and the governed. The ex-Nation Newspaper Southwest Bureau Chief  said SWEGOP remains committed to professionalising online journalism, defending press freedom, and promoting civic education.

“We are building a Guild that holds power accountable and empowers the people,” Oladele said. “We want to transform online publishing in Nigeria into a credible, ethical, and development-focused sector.”

Also speaking, former Nigerian Ambassador to the Philippines and veteran journalist, Dr. Yemi Farounbi, underscored the media’s central role in shaping the nation’s democratic future. He urged online publishers to become watchdogs of democracy by fact-checking claims, investigating corruption, and tracking campaign promises.

“You cannot recycle the same politicians and expect different results,” Farounbi said. “Online media must educate the masses, mobilise the youth, and expose the rot in the system. That is the only way to reclaim Nigeria.”

He also emphasized the need to amplify the voices of minority groups, women, and the opposition, while discouraging hate speech and promoting issue-based campaigns that strengthen national unity.

In a goodwill message, Mr. Awowole Brown, representing Alhaji Aliko Dangote, commended SWEGOP for its resilience and reaffirmed Dangote Group’s support for independent media. He acknowledged the financial struggles faced by journalists and praised their continued commitment to public interest.

“Despite poor remuneration and hostile working conditions, journalists remain undeterred. Their contributions are invaluable, and as a brand, we recognise their growing influence and integrity,” Brown stated.

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The event, which is one of the most prestigious gatherings of digital media professionals in the South West, will take place at the International Conference Centre, University of Ibadan, by 2:00 PM.

A statement jointly signed by SWEGOP Chairman, Bisi Oladele, and Publicity Secretary, Remi Oladoye, noted that the anniversary lecture will explore the impact of online journalism on national development, with media professionals, policymakers, captains of industry, and other stakeholders expected in attendance.

Former Chairman of the Nigerian Communications Commission, Prof. Adeolu Akande, will deliver the anniversary lecture, adding intellectual depth to the discourse on digital media and governance in Nigeria.

As part of the celebration, the guild will honour select Nigerians who have made notable contributions to journalism, governance, and public service. The awardees include the Oyo State Commissioner for Information and Orientation, Prince Dotun Oyelade; businessman and media entrepreneur, Mogaji Wole Arisekola; and Dr. Babatunde Olomu, the Customs Area Controller, Apapa Port Command, Lagos.

The statement added, “SWEGOP remains committed to using its platforms to promote transparency, accountability, and democratic engagement in Nigeria’s evolving digital media landscape.”

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For the second time in April, Dangote Petroleum Refinery and Petrochemicals has again reduced the ex-depot (gantry) price of petrol, lowering it from ₦867 to ₦835 per litre.

The Lagos-based $20 billion refinery informed its marketers and customers of the price adjustment on Wednesday. This fresh slash follows an earlier downward review earlier in the month, signifying a continued intervention by the private refinery in stabilising fuel prices in the country.

A senior official of the company, who spoke on condition of anonymity, had earlier confirmed the new price, disclosing that a formal statement would be issued in due course.

Further checks on the petroleumprice.ng portal also corroborated the development, confirming that the ex-depot price had indeed been reviewed to ₦835 as of Wednesday afternoon.

Following the reduction, petrol pump prices in retail outlets with special supply arrangements with Dangote Refinery — including major marketers such as MRS Oil & Gas, Ardova Plc, and Heyden Petroleum — are expected to drop below ₦900 per litre, reflecting the marginal cut in the gantry price.

 

Later in the day, the company’s official spokesperson, Mr Anthony Chiejina, released a formal statement confirming the price reduction. He noted that outlets in Lagos with special agreements would sell petrol at ₦890 per litre, offering some relief to consumers amid economic hardship.

This latest adjustment comes in the wake of a strategic meeting held last week between top executives of Dangote Refinery and the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun. The meeting reportedly reaffirmed the Federal Government’s commitment to the naira-for-crude initiative.

The Ministry clarified that the policy was not a temporary intervention, but a “key policy directive designed to support sustainable local refining” and was to be continued immediately — overriding the earlier decision by the Nigerian National Petroleum Company Limited (NNPCL) under its former Group CEO, Mele Kyari, which had suspended the initiative.

Nigeria, Africa’s most populous nation, continues to battle chronic energy challenges, with erratic power supply stifling industrial and domestic productivity. For decades, the nation relied on imported refined petroleum products due to the comatose state of its government-owned refineries.

The emergence of the Dangote Refinery has been seen as a potential game-changer in Nigeria’s petroleum landscape, especially since the removal of petrol subsidy by President Bola Ahmed Tinubu in May 2023, which triggered a steep rise in pump prices from around ₦200 to nearly ₦1,000 per litre.

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Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has predicted that the cost of Premium Motor Spirit (PMS), popularly known as petrol, will continue to decline until June 2025.

The recent price reductions led by Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) have provided relief for millions of Nigerians who rely on petrol for their daily energy needs. Speaking on Channels Television’s Business Morning on Tuesday, Rewane noted that the ongoing downward trend in pump prices is expected to persist until mid-year.

“So, generally between now and June, we will see prices begin to decline. But after June, as things stabilize, depending on what happens in the global oil and currency market, we might begin to see some stabilization,” Rewane stated.

He described the current price war between Dangote Refinery and NNPCL as a development that ultimately benefits consumers.

“In a price war, nobody wins. The consumers win in the short run, then eventually, the market goes back to where it should be. But at the end of the day, between now and June, the price leadership will be firmly established,” he added.

Dangote, NNPCL Cut Prices Further

Dangote Refinery has attributed its recent price reduction to improved production cost efficiency, among other factors. The company slashed its gantry price from ₦890 to ₦825 per litre, promising refunds to customers who purchased fuel at higher rates from its key partners.

As part of its price adjustments, the refinery announced that MRS Holdings stations would sell petrol at:

• ₦860 per litre in Lagos
• ₦870 per litre in the South-West
• ₦880 per litre in the North
• ₦890 per litre in the South-South and South-East

Similarly, AP (Ardova Petroleum) and Heyden stations set their prices at:

• ₦865 per litre in Lagos
• ₦875 per litre in the South-West
• ₦885 per litre in the North
• ₦895 per litre in the South-South and South-East

Meanwhile, NNPCL has also reduced its pump price to ₦860 per litre across its stations in Lagos, though it has yet to issue an official statement confirming the adjustment.

With both Dangote and NNPCL engaged in a price battle, industry analysts believe that competition could drive further reductions in the coming months, offering more relief to consumers amid Nigeria’s challenging economic climate.

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Speaking on Channels Television’s Sunrise Daily show on Wednesday monitored by Mega Icon Magazine, Shittu emphasised that the success of this ambitious project, which is set to process 650,000 barrels of crude oil per day, is crucial for reducing Nigeria’s long-standing dependence on fuel subsidies.

Dangote refinery to generate 12,000 megawatts of electricity – CBN hints

Nigeria, Africa’s most populous nation, grapples with severe energy issues.

The country’s state-owned refineries are currently non-operational, and it relies heavily on imported refined petroleum products. The Nigerian National Petroleum Corporation (NNPC) remains the primary importer of these essential goods.

The situation has led to frequent fuel shortages, with petrol prices soaring from approximately N200 per litre to around N700 per litre since the subsidy removal in May 2023.

This surge has further exacerbated the struggles of Nigerian citizens, who rely on petrol to power their vehicles and generators amidst persistent electricity supply challenges.

Addressing questions about the possibility of reinstating the subsidy regime, the former minister acknowledged he didn’t have all the details but emphasised, “What I do know over the years is that we have been borrowing for subsidy.”

He explained, “It’s a very clear thing to understand. If you produce crude oil at say, N100 per litre because you don’t have refining facilities, you take it overseas. You pay in dollars to transport it overseas to refineries there. You pay in dollars to refine there. You pay in dollars to bring it back. Can the cost of that one litre of fuel remain N100 or even N200?”

Dangote refinery’s first product to hit market by end of July 

Shittu continued, “So, unless we can refine locally. And that is why I am complimenting Dangote and I urge that everybody should give Dangote Refinery all the support so that, for once, we can stop exporting our crude oil for refining to bring it back because it would certainly add to the cost. And if we do not want to add to the cost, then we must subsidise. To subsidise, you have to take loans.”

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The President of the Dangote Group, Aliko Dangote, announced plans to increase the storage capacity of the Dangote Petrochemical Refinery by 600 million litres, bringing the total capacity to 5.3 billion litres.

Speaking at the Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas, Dangote highlighted the significance of this expansion in bolstering the refinery’s role as a strategic reserve for Nigeria’s petroleum products.

“We currently have 4.78 billion litres of storage capacity for refined petroleum products. With the additional 600 million litres, our refinery will effectively serve as the strategic reserve for the country,” Dangote stated.

Addressing questions about potential impacts on fuel prices, particularly petrol, Dangote referenced the refinery’s success in reducing diesel prices upon its introduction to the market.

“When we first started with diesel, prices dropped significantly from ₦1,700 to ₦1,200 per litre,” he noted, underscoring the refinery’s potential to stabilize and potentially lower fuel costs.

However, Dangote acknowledged that challenges remain in influencing petrol prices directly, stating, “The issue of gasoline is being handled by the government.” Despite these challenges, he expressed confidence in the refinery’s ability to contribute positively to Nigeria’s energy landscape.

Dangote also discussed regulatory concerns regarding the quality of imported fuels, advocating for stricter enforcement to prevent the entry of substandard products into the market.

“Dirty fuels have been linked to health issues such as cancer in Nigeria and across Africa,” he emphasized, calling for international cooperation to uphold fuel quality standards.

Reflecting on the journey of building the $19 billion refinery, Dangote revealed encounters with international oil companies and financial challenges, including attempts to disrupt the project’s progress.

“The mafia in the oil sector is stronger than in drugs,” he remarked, highlighting persistent efforts to impede the refinery’s development.

Despite these hurdles, Dangote remains steadfast in his commitment to advancing energy independence and economic growth, both in Nigeria and beyond.

He outlined plans to supply cheaper fuel to the Caribbean region, leveraging bilateral agreements and setting up terminals to facilitate energy accessibility.

As the refinery progresses towards full operational capacity, Dangote assured stakeholders of continued efforts to fulfill Nigeria’s energy needs responsibly.

“We’ve made significant strides in project financing and infrastructure development,” he concluded, affirming the refinery’s pivotal role in transforming Nigeria’s energy landscape.

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Director of Army Public Relations, Onyema Nwachukwu, affirmed this disciplinary action in a statement released on Monday.

Corporal Innocent Joseph and Lance Corporal Jacob Gani have been relieved of their duties and handed over to the police for further investigation.

“As a demonstration of NA’s zero-tolerance for misconduct and criminality within its ranks, the two soldiers have been dismissed from the NA with immediate effect and handed over to relevant authorities for further prosecution,” Nwachukwu stated.

Major General Nwachukwu outlined the charges against the soldiers, citing their abandonment of duty post and unauthorized possession of materials. He noted that they were summarily tried and found guilty in accordance with military laws.

“This decisive action underscores the NA’s resoluteness in maintaining its institutional integrity and reputation,” Nwachukwu added. “The NA reassures the general public of its dedication to upholding integrity, discipline, and accountability at all levels.”

“We remain resolute in our duty to protect and serve the nation with honor and dignity,” he concluded.

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