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The three publicly traded entities owned by Aliko Dangote grew their combined net profit by 52.3 percent during the first quarter of 2026. Financial statements submitted to the Nigerian Exchange Group show that Dangote Cement, Dangote Sugar Refinery, and NASCON Allied Industries generated N161.43 billion in profit after tax. This corporate surge follows a combined…
Former Head of State General Yakubu Gowon has finally published his long-awaited autobiography. The book presentation, My Life of Duty and Allegiance, launched in Abuja on Tuesday, drew a vast assembly of veteran rulers, diplomats, and senior government officials to the Bola Tinubu International Conference Centre. Vice President Kashim Shettima represented the head of state, sitting…
Aliko Dangote plans to construct a 650,000 barrels-per-day refinery in East Africa, aiming to replicate the scale of his Lagos-based facility. The billionaire industrialist announced this intent at the “Africa We Build” summit in Nairobi on Thursday. He stated that his group is ready to proceed if regional governments provide the necessary support. The proposed…
A ten percent stake in Africa’s largest single‑train refinery will be offered to public investors through a Pan‑African Initial Public Offering scheduled for 2026, Alhaji Aliko Dangote has confirmed. The share sale, which analysts estimate could raise approximately two billion dollars based on the facility’s twenty billion dollar valuation, marks the first time equity…
The Dangote refinery has emerged as a critical energy lifeline for Africa as the conflict between the United States and Iran paralyses Middle Eastern shipping. Operating at its full 650,000-barrel-per-day capacity, the Lagos-based facility recently exported 17 cargoes of petrol to nations across West, Central, and East Africa. This surge in regional trade follows the…
The Dangote Petroleum Refinery has commenced large-scale exports of refined fuel to five African nations, marking a shift in West Africa’s energy dynamics. International traders recently moved 12 cargoes totalling 456,000 tonnes of petroleum products to markets in Côte d’Ivoire, Cameroon, Tanzania, Ghana, and Togo. This milestone follows the facility reaching its full processing capacity…
South Africa, Ghana, and Kenya have approached the Dangote Petroleum Refinery to secure emergency fuel contracts as the Middle East energy crisis threatens continental supplies. Bloomberg reported on Friday, 20 March 2026, that Pretoria is seeking a 12-month supply deal to insulate its economy from the fallout of the Iran-Israel conflict. The 650,000-barrel-per-day facility in…
The Dangote Petroleum Refinery has announced a sweeping reduction in the prices of petrol and diesel, effective March 10, 2026. In a move described by management as a reflection of “economic patriotism,” the gantry price of petrol (PMS) has been cut by ₦100, falling from ₦1,175 to ₦1,075 per litre. Diesel (AGO) saw an even…
Africa’s wealthiest citizens have seen their collective fortunes surge by 21 per cent over the past year. The continent’s 23 billionaires are now worth a combined $126.7 billion, according to the 2026 Forbes rankings. This $20.3 billion jump reflects a period of stabilizing regional currencies and a broad rally across major African equity markets. Nigeria…
The Dangote Petroleum Refinery has raised the ex-depot price of petrol to ₦1,175 per litre. This marks the third price increase in a single week. The refinery communicated the new gantry rate to marketers on Monday morning. This latest jump represents an 18 per cent surge in just three days. It follows a Friday adjustment…
