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Economy

Dangote Refinery purchases 4,000 CNG tankers for direct distribution of petrol, diesel to marketers, dealers 

Funso OLOJO 
The Dangote Refinery has concluded plans to commence direct sales and distribution of Petroleum Motor Spirit(PMS) known as petrol and Automotive Gas Oil(AGO) known as diesel to consumers nationwide.
This initiative, said the management of the Refinery, is meant to make the products accessible and cheaper to the final users as the cost of logistics will be borne by the Refinery.
To this end, the Refinery has purchased a total of 4000 CNG – powered tankers for this purpose.
The initiative, declared the Refinery management, is designed to transform Nigeria’s fuel distribution landscape.
“Effective 15th of August 2025, the Refinery will begin the distribution of Premium Motor Spirit (PMS) and diesel to marketers, petrol dealers, manufacturers, telecoms firms, aviation, and other large users across the country, with free logistics to boost distribution network.
“To ensure smooth take-off of this scheme, Dangote Refinery has invested in the procurement of 4,000 brand-new Compressed Natural Gas (CNG)-powered tankers.
“This phase of the programme will continue over an extended timeframe.
“The refinery is also investing in Compressed Natural Gas (CNG) stations, commonly referred to as daughter booster stations, supported by a fleet of over 100 CNG tankers across the country to ensure seamless product distribution.
“This strategic programme is part of our broader commitment to eliminating logistics costs, enhancing energy efficiency, promoting sustainability and supporting Nigeria’s economic development.
“It affirms our dedication to improving the availability and affordability of fuel, in support of broader efforts to strengthen the economy and improve the well-being of all Nigerians.
“Under this initiative, all petrol stations purchasing PMS and diesel from the Dangote Petroleum Refinery will benefit from this enhanced logistics support.
“Key sectors such as manufacturing, telecommunications, and others will also gain from this transformative initiative, as reduced fuel costs will contribute to lower production costs, reduced inflation, and foster economic growth.
“Players in these key sectors and others can purchase directly from the Dangote Petroleum Refinery.
“In addition, the refinery will offer a credit facility to those purchasing a minimum of 500,000 litres—allowing them to obtain an additional 500,000 litres on credit for two weeks, under bank guarantee.
“This pioneering effort marks a major milestone in our vision to revolutionise Nigeria’s energy sector.
“Dangote Refinery is dedicated to ensuring that no place is left behind.
 “Our goal is to provide equitable access to affordable fuel for all Nigerians, regardless of location, making energy more accessible and sustainable for everyone, wherever they may be.
“It is expected to revitalise previously inactive petrol stations, thereby driving job creation, stimulating small and medium-sized enterprises (SMEs), increasing government revenue, improving fuel access in rural and underserved communities, and strengthening investor confidence in Nigeria’s downstream petroleum sector.
“This initiative is inline with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, reflecting our shared commitment to economic progress, stability, and inclusive development.
“We sincerely thank the Federal Government for its continued support, especially through the Naira-for-Crude scheme, which has helped stabilise fuel supply amid global price volatility.
“It marks a major revolution in the midstream and downstream sectors and stands as a key example of President Bola Tinubu’s bold and reformative economic policies.
“We invite marketers, petrol dealers, manufacturers, telecom companies, and all key stakeholders to embrace this landmark initiative.
“The registration process, including Know Your Customer (KYC) verification, will take place from 16 June to 15 August, spanning a total of 60 days” the management of the Refinery declared in a statement.
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Economy

News Alert! Tinubu sacks Wale Edun as Finance Minister in cabinet reshuffle, appoints Taiwo Oyedele as replacement 

Funso OLOJO, Editor 
President Bola Ahmed Tinubu has carried out a major reshuffle exercise in his cabinet in which he dropped the Minister of Finance and the Coordinating Minster, Mr Wale Edun.
Taiwo Oyedele, who was recently appointed as the Minister of State for the Ministry, has now replaced the sacked Edun.
Also removed in the reshuffle exercise was the Minister of Housing and Urban Development, Ahmed Dangiwa.
A statement on Tuesday, April 21st, 2026,by the Special Adviser, Media and Publicity to the Secretary to the Government of the Federation, Yomi Odunuga, said the development was contained in a memo signed by the
Secretary to the Government of the Federation, George Akume.According to the memo, Taiwo Oyedele has been appointed as the new Minister of Finance and Coordinating Minister of the Economy.
Also appointed was Dr. Muttaqha Darma as Minister-designate for Housing and Urban Development.

The memo directed the outgoing ministers to complete handover processes to their respective successors or supervising officials.It stated that all handing over and taking over activities must be concluded on or before the close of business on Thursday, 23rd April, 2026.

Explaining the decision, Akume said the changes were aimed at improving coordination and strengthening delivery across key sectors of the economy under the Renewed Hope Agenda.

“These changes are aimed at strengthening cohesion, synergy in governance as well as achieving more impactful delivery on the economy to Nigerians, through the Renewed Hope Agenda,” Akume stated.

He added that President Tinubu acted in line with his constitutional powers as provided under Sections 147 and 148 of the 1999 Constitution (as amended).

The SGF also conveyed the President’s appreciation to the outgoing ministers for their service to the nation and wished them well in their future endeavours, noting that the process of cabinet reinvigoration would remain continuous.

The statement further noted that Taiwo Oyedele was appointed as Minister of State for Finance in March 2026, while Edun was among the ministers appointed on August 16, 2023.

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Economy

Tinubu assents to 2026 Appropriation bill , extends 2025 budget implementation 

Funso OLOJO, Editor
President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion.
He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.
The N68.32 trillion budget for this year earmarks N4.799 trillion for statutory transfers and N15.8 trillion for debt service.
It allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.
According to the statement signed by Bayo Onanuga, the Special Adviser to the President on information and Strategy, with capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.
The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.
Additionally, the President has assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026.
The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure.
With the 2026 Appropriation Act coming into force on April 1, the Federal Government will commence full implementation in line with the Renewed Hope Agenda.
President Tinubu directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery.
He commended the leadership and members of the National Assembly for their diligence, cooperation, and patriotism in expeditiously considering and passing the budget.
The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives.
He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms.
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Economy

NNPC attributes increased crude oil production to enhanced security surveillance of pipelines in Niger- Delta

Funso OLOJO, Editor

The Nigerian National Petroleum Company Limited (NNPC) has confirmed that national crude oil production has grown from a historic low of 960,000 barrels per day in 2022 to an average of 1.71 million barrels per day and a peak production of 1.84 million barrels per day in 2025, owing to the establishment of the integrated energy security for pipelines in the Niger Delta.

Group Chief Executive Officer of NNPC Ltd, Engr. Bashir Bayo Ojulari, made the disclosure at the Parliamentary Roundtable on the State of Pipelines Security which held at the National Assembly, in Abuja, on Wednesday, April 8th, 2026.

Speaking on the success of the security arrangement, Ojulari explained that it was not accidental, and that it involved an “integrated energy security model that combines legislative and executive policy alignment, actionable intelligence, kinetic deployment capabilities, regulatory oversight, industry cooperation, and community‑embedded surveillance mechanisms”.

He said the resurgence of production due to the effective tackling of the twin menace of oil theft and pervasive pipeline sabotage has led to the restoration of investors’ confidence in the nation’s oil and gas sector.

In his welcome address, the President of the Senate, Sen. Godswill Akpabio, represented by Senator Jimoh Ibrahim, called for collaboration among agencies and stakeholders in resolving all challenges impeding production growth.

On his part, the Speaker of the House of Representatives, who was represented by the Leader of the House, Hon. (Prof.) Julius Ihonvbere, urged the forum to evaluate the progress made so far with a view to ensuring fairness and equity.

The Parliamentary Roundtable on the State of Pipelines Security was convened by the Joint Senate and House of Representatives Committee on Petroleum Resources.

It had in attendance the Senate President, Speaker of the House of Representatives, National Security Adviser, Minister of Defence, and representatives of oil industry regulatory agencies.

The Roundtable also featured presentations by the Chief of Defence Staff, Inspector General of Police, Director General of the Department of State Services, Commandant General of the Nigerian Security and Civil Defense Corps, and private security companies.

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