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MR ABDULSAMAD Rabiu’s wealth soared by 86.3 percent in 2025, the fastest billionaire wealth growth in Africa, pushing the combined net worth of Nigeria’s billionaires ahead of their South African counterparts for the first time in years. Forbes World’s Billionaires wealth tracker shows that Mr Rabiu, who is the founder of BUA Group, saw his […]
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DANGOTE Petroleum Refinery failed to meet its 35 million litres of petrol daily projection in November 2025, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). In its November 2025 ‘State of the Midstream and Downstream Fact Sheet,’ NMDPRA said despite a projected output of 35 million litres of petrol per day, Dangote […]
NIGERIANS are asking for a full investigation into the tenure of the ex-Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Ahmed Farouk. Mr Ahmed resigned on Wednesday following corruption allegations from Africa’s richest man, Mr Aliko Dangote, who accused him of paying the school fees four of his children in […]
PRESIDENT of Dangote Group, Mr Aliko Dangote, has filed a petition against Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Ahmed Farouk, to the Independent Corrupt Practices and Other Related Offences Commission, accusing him of corruption. In the petition, dated and submitted on December 16 through his lawyer, Mr Ogwu […]
AFRICA’S richest man and President of Dangote Industries Limited, Mr Aliko Dangote, has accused Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr. Farouk Ahmed, of corruption and economic sabotage, noting that his activities are undermining domestic refining in Nigeria. This is barely 17 months after Mr Ahmed had accused […]
FOR the 20th time this year, Dangote Petroleum Refinery has reduced the price of petrol for Nigerians. This time, he has cut the gantry price of petrol, also known as the premium motor spirit (PMS), from N828 to N699 per litre, marking a N129 per litre reduction. Data published on Petroleumprice.ng on Friday indicated that […]
The 2026 could be a turnaround year for the Nigerian economy and the naira in more than a decade, according to an economist, Mr Bismarck Rewane. Mr Rewane, who is the Chief Executive Officer of Financial Derivatives, said a combination of easing inflation, rising investment, major corporate listings and stabilising monetary conditions could propel Africa’s […]
PRESIDENT AND CHAIRMAN of Dangote Group, Mr Aliko Dangote, on Friday, assured Nigerians that the era of fuel queues had ended, declaring that his refinery could supply 50 million litres of premium motor spirit (PMS) daily ahead of the 2025 festive season. Speaking to State House correspondents after meeting President Bola Tinubu, Mr Dangote, Africa’s […]
THE Dangote Petroleum Refinery will begin delivering 50 million litres of Premium Motor Spirit (PMS) per day to the Nigerian market from today, December 1, as part of a broader plan to supply 1.5 billion litres throughout the festive season and into early 2026. The announcement, made over the weekend by Africa’s richest man and […]
AFRICA’S richest man Aliko Dangote has begun expanding his refinery in Lagos from 650,000 barrels per day (bpd) to 1.4 million bpd, targeting to establish the largest refinery in the world ever built at a single site in 2028. Speaking about his expansion plan on Sunday, President of Dangote Group said the expansion reflected his […]