Refinery

Some Nigerians and economic experts have called for the speedy rehabilitation and restart of refineries to strengthen domestic petrol supply and reduce pump prices.

Nigerian billionaire and President of Dangote Group, Aliko Dangote, has blamed local petroleum marketers and international oil companies (IOCs) for protests surrounding his proposed $16 billion refinery in Lamu, Kenya.

The Federal Government has said Nigeria must progressively move away from an economy centred on crude oil exports and capture more value through domestic refining, petrochemicals and related industrial activities.

Nigeria can produce more of its own petrol and still pay more for it. The cost of the crude entering a refinery remains exposed to international markets, even when the finished fuel never crosses a border.

The July figure represents an 8.8 percent month-on-month increase and a 233.9 percent jump from May, when imports accounted for only 12.4 percent of total recorded petrol receipts.

Nearly seven out of every 10 barrels produced during the period were sold overseas despite persistent concerns over crude supply to domestic refineries. Higher international oil prices, rather than a sharp rise in export volumes, drove the surge...

June 3 (THEWILL) — Dangote Refinery is positioning itself as a major player in the global aviation fuel market, unveiling plans to add 700,000 barrels per day (bpd) of refining capacity by 2028 as it seeks to capitalise on...

May 21, (THEWILL) — Billionaire businessman and philanthropist, Femi Otedola, has revealed plans to invest $100 million in the forthcoming Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals, further signalling growing investor confidence in the mega refinery...

July 07, (THEWILL) — If anything aptly depicts Nigeria’s lingering macroeconomic instability and volatility, it is the raising and reduction in the pump prices of fuel (Premium Motor Spirit, PMS). Hardly has there been any month in 2025 that...

April 13, (THEWILL) – Internet users are growing at unprecedent rate and in Nigeria for instance internet users have expressed concerns and frustration over the data price increase in recent time, with many feeling its negative impact on their...