Dangote Industries Limited

Welcome to 2025!

Season's greetings from all of us at Dangote Group.

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal ...As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country. To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers. “To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday. In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.” According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets. Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency. Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.

Holiday Bonanza: Dangote Reduces PMS Price to N899.50k …Introduces special purchase offer for consumers Dangote Petroleum Refinery has reduced the price of its Premium Motor Spirit (PMS) product to below N900 per litre, to provide much-needed relief for Nigerians ahead of the holiday season. Africa's first privately-owned oil refinery, which previously lowered the price to N970 per litre on November 24, has now announced a new price of N899.50 per litre. This reduction is designed to ease transport costs during the festive period. In a statement issued by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, the company also introduced a special offer to further benefit consumers. In addition to the holiday discount, Dangote Petroleum Refinery is allowing consumers to purchase an additional litre of fuel on credit for every litre bought on a cash basis. “To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM. Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” said Chiejina. The refinery also expressed its gratitude to Nigerians for their continued support as the country enters the festive season. Chiejina further emphasised the refinery’s commitment to ensuring Nigerians have access to premium quality petroleum products that are competitively priced, as well as environmentally and engine friendly. He highlighted that the refinery’s operations mark the end of Nigeria being a dumping ground for substandard and ‘blended’ imported products, which have posed significant risks to human health, machinery, and the environment. The Dangote Refinery, with a capacity of 650,000 barrels per day (BPD), is the largest single-train refinery in the world. It is fully capable of meeting 100% of Nigeria's refined petroleum product requirements, with a surplus available for export.

ADDRESSING NNPCL'S MISINFORMATION   We have received numerous inquiries from the media and other concerned stakeholders seeking clarification on a recent report attributed to the Nigerian National Petroleum Company Limited (NNPCL) that their decision to secure a $1 billion loan backed by its crude was instrumental in supporting the Dangote refinery during liquidity challenges.   We would like to clarify that this is a misrepresentation of the situation as $1bn is just about 5% of the investment that went into building the Dangote Refinery.   Our decision to enter into a partnership with NNPCL was based on recognition of their strategic position in the industry as the largest offtaker of Nigerian crude and at the time, the sole supplier of gasoline into Nigeria.   We agreed on the sale of a 20% stake at a value of $2.76 billion. Of this, we agreed that they will only pay $1 billion while the balance will be recovered over a period of 5 years through deductions on crude oil that they supply to us and from dividends due to them. If we were struggling with liquidity challenges we wouldn't have given them such generous payment terms. As at 2021 when the agreement was signed, the refinery was at the pre-commission stage. In addition, if we were struggling with liquidity issue, this agreement would have been cash based rather than credit driven.   Unfortunately, NNPCL was later unable to supply the agreed 300 thousand barrels a day of crude given that they had committed a greater part of their crude cargoes to financiers with the expectation of higher production which they were unable to achieve.   We subsequently gave them a 12-month period for them to pay cash for the balance of their equity given their inability to supply the agreed crude oil volume. NNPCL failed to meet this deadline which expired on June 30th 2024. As a result, their equity share was revised down to 7.24%. These events have been widely reported by both parties. It is, therefore, inaccurate to claim that NNPCL facilitated a $1 billion investment amid liquidity challenges. Like all business partners, NNPCL invested, $1 billion in the Refinery to acquire an ownership stake of 7.24% stake that is beneficial to its interests.   NNPCL remains our valued partner in progress, and it is imperative for all stakeholders to adhere to the facts and present the narrative in the correct context, to guide the media in reporting accurately for the benefit of our stakeholders and the public.   Anthony Chiejina Group Chief Branding and Communications Officer 18th December, 2024

From left: Trade Commissioner/Managing Director, Japan External Trade Organisation (JETRO) Lagos, Takashi Oku; Group Executive Director, Dangote Cement Plc, Knut Ulvmoen; Vice President, Oil & Gas, Dangote Industries Limited, Devakumar Edwin; Ambassador - Designate of Japan to Nigeria, Suzuki Hideo; Director - Service, Yokogawa Nigeria Limited, Olushola Olanlehin, during the visit of Japanese Business Community in Nigeria, to Dangote Petroleum Refinery & Petrochemicals and Fertiliser complexes in Lekki, on Friday December 13, 2024.

The President/CE, Dangote Industries Limited, Aliko Dangote (5th from left), recently visited the Dangote Leadership Development Programme (DLDP) Cohort 11 undergoing a two-week mandatory training at the Eko Hotels and Suites in Lagos. Among other top executives that accompanied the President/CE are Vice President, DIL, Mr. Olakunle Alake (4th from left); Group Executive Director, Commercial, DIL, Fatima Aliko Dangote (6th from left); Group Chief Strategy Officer, DIL, Aliyu Suleiman (3rd from left).

Driving Nigeria Forward! 🚛🔧 Dangote-Sinotruk is revolutionizing Nigeria’s automotive landscape with its local truck assembly operations, boosting manufacturing and reducing reliance on imports. From construction to logistics, our high-quality trucks are supporting industries and meeting Nigeria’s transport and logistics needs, one vehicle at a time. 💪🇳🇬 hashtag#DangoteSinotruk  hashtag#MadeInNigeria hashtag#AutomotiveExcellence  hashtag#LogisticsRevolution

Empowering Africa’s Agriculture! 🌱🌍 With a production capacity of 3 million metric tons of urea annually, Dangote Fertiliser is driving agricultural transformation across the continent. By providing affordable and high-quality fertiliser to farmers, we’re improving crop yields, enhancing food security, and fostering sustainable development. 💪🌾 Together, we’re building a stronger, greener future for Africa. #Dangote Fertiliser #FoodSecurity  #AgricultureInnovation  #SustainableDevelopment