Dangote Refinery Counters Claims of Cheaper PMS Imports by IPMAN, PETROAN In a recent statement, Dangote Refinery has addressed allegations from the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Petroleum Retail Outlet Owners Association of Nigeria (PETROAN), claiming that these associations have circulated misleading information about the refinery’s fuel pricing. IPMAN and PETROAN…
Access Holdings’ Total Assets Reach ₦41.1 Trillion in Q3 2024, with Gross Revenue at ₦3.4 Trillion Access Holdings Plc, a premier financial services group in Africa, has reported impressive unaudited financial results for Q3 2024, showcasing substantial growth across key metrics. The group’s gross revenue surged by 114.5% year-on-year to ₦3.4 trillion, driven by both…
MDGIF Advocates for Government Support to Bolster Nigeria’s Gas Infrastructure The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is urging sustained government incentives to drive investments in Nigeria’s gas sector. At the recent OTLAfrica Summit, themed “New Energy Order: Updates on Gas, CNG, and LPG,” MDGIF Executive Director Mr. Oluwole Adama highlighted the essential…
ECOWAS Ministers Announce Key Progress in African Atlantic Gas Pipeline Project The African Atlantic Gas Pipeline (AAGP), an ambitious initiative to connect Nigeria’s extensive gas reserves with North Africa and Europe, has achieved a significant milestone, as announced by Hon. Ekperikpe Ekpo, Nigeria’s Minister of State for Petroleum Resources (Gas) and Chair of the ECOWAS…
Nigeria Sets Stage for Africa Energy Bank Headquarters, Confirms Operational Launch for Early 2025 Nigeria is moving forward as the host nation for the Africa Energy Bank (AEB) headquarters, following a winning bid in July 2024. The bank, aimed at financing vital energy projects across the continent, is set to become operational in the first…
Dangote Refinery Refutes IPMAN Claims of Payment for Petroleum Products The Dangote Petroleum Refinery (DR) has dismissed recent claims by the Independent Petroleum Marketers Association of Nigeria (IPMAN) regarding payments for refined petroleum products. In a statement, DR clarified that it has not received any funds from IPMAN for the purchase of petroleum products. While…
Petrol Demand Set to Reach 50 Million Litres Daily, Says NMDPRA At the OTL Africa Downstream Energy Week in Lagos, Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), announced a potential rise in daily petrol consumption in Nigeria, which could reach up to 50 million litres as the festive…
MEMAN Cautions Against Panic-Buying, Ensures Steady Petroleum Supply The Major Energy Marketers Association of Nigeria (MEMAN) has addressed recent concerns surrounding petroleum product availability in Nigeria, urging the public to avoid panic-buying. MEMAN reassures stakeholders that it maintains substantial reserves of petroleum products, both in its own storage facilities and in partnership with key suppliers,…
Access Holdings Justifies High Cost-to-Income Ratio, Outlines Growth Strategy Access Holdings PLC has clarified its high cost-to-income ratio, attributing it to strategic investments in growth and expansion. The company is focused on consolidating its presence in key markets and enhancing its service offerings. Key Points: Strategic Investments: Access Holdings is investing heavily in infrastructure, technology,…
Marowin Strengthens Industry with Exclusive Elcometer Partnership Marowin Engineering and Development Limited, a leading indigenous engineering and procurement firm, has announced an exclusive partnership with Elcometer, a global leader in precision measurement instrumentation. This strategic collaboration aims to enhance the reliability and efficiency of Nigeria’s oil and gas industry by providing access to cutting-edge equipment…
