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President of the Dangote Group, Aliko Dangote, has announced plans by his business group to invest more than $10 billion in Africa’s power sector over the next three to four years, as he identified electricity supply as critical to industrialisation and economic growth on the continent. Dangote disclosed the proposed investment during an interview with…
The Dangote Petroleum Refinery and Petrochemicals FZE has officially opened its initial public offering (IPO), giving Nigerians and other investors an opportunity to acquire shares in one of Africa’s most ambitious industrial projects. The offer, valued at approximately N2.15 trillion, is expected to become one of the largest transactions in the history of Nigeria’s capital…
Aliko Dangote, President of the Dangote Group, has expressed optimism that shares of the Dangote Petroleum Refinery and Petrochemicals business, being offered at ₦525 per share, could rise significantly in value in the future, potentially reaching ₦10,000. Dangote reportedly made the projection during an interview ahead of the company’s planned initial public offering (IPO), which…
Dangote Petroleum Refinery has achieved a significant milestone in its journey toward a public listing, with the facility now being valued at approximately $39.1 billion through its ongoing private placement exercise. The development comes amid growing investor appetite for a stake in the refinery, which is widely regarded as one of Africa’s most transformative industrial…
Africa’s richest industrialist, Aliko Dangote, has taken his corruption allegations against former Managing Director of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, to the Economic and Financial Crimes Commission (EFCC), intensifying a high-profile accountability showdown. In a statement released on Friday by the Dangote Group, the conglomerate confirmed that it formally…
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has reaffirmed its commitment to investigate allegations against Engineer Farouk Ahmed, the immediate past Director-General/Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), even after billionaire industrialist Aliko Dangote officially withdrew his petition against him. According to a statement issued by…
Read More “ICPC Will Continue Probe of Ex-NMDPRA Boss Despite Dangote Withdrawing Petition” »
The House of Representatives has told Aliko Dangote, the owner Dangote Refinery, to disclose the cost he is selling petroleum from his refinery to NNPC Limited and other major marketers. The lawmakers also asked NNPC to disclose the amounts the refinery is paying for crude oil. This resolution followed a motion moved by Oboku Oforji…
Read More “Tell Nigerians The Cost Of Your Petrol’ — Reps Tell Dangote Refinery” »
Chairman of Dangote Group, Aliko Dangote, has said it’s time for the Nigerian Government to end the fuel subsidy regime. Dangote said fuel subsidy would lead to the Nigerian government “paying what they are not supposed to be paying,” hence the need to end it. In an interview with Bloomberg TV on Monday, the business…
Read More “Dangote Tells FG It’s Time To End Fuel Subsidy Payment” »
Chairman of Dangote Group and Africa’s richest man, Aliko Dangote, has declared that the Federal Government did not give him any incentive to build his $20 billion refinery located at the Lekki Free Trade Zone.He further stated that he paid $100 million for the land the refinery sits on. Dangote disclosed this on Saturday when…
Read More “Refinery: Dangote Declares “I Got No FG Incentive, Paid $100 Million For Land “” »
The Chairman of Dangote Group, Aliko Dangote, has condemned the increase of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN). Dangote at the Banquet Hall of the State House, Abuja, during the opening session of a three-day summit organised by the Manufacturers Association of Nigeria (MAN), on Tuesday. He…
Read More “Dangote Condemns CBN’s Interest Rate, Urgess FG To Protect Existing Businesses” »