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JUST IN: Dangote Refinery Cuts Petrol Price To N865 Per Litre

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The Dangote Refinery has announced a N15 reduction in its ex-gantry loading cost, bringing it down to N865 per litre from the previous price of N880.

The new price, confirmed by a pro forma invoice and verified by petroleumprice.ng, was communicated to customers in a notice on Thursday morning.

This price adjustment follows earlier reports that the 650,000 barrels-per-day refinery was expected to lower its petrol loading costs by the end of this week.

The reduction is expected to further drive down fuel prices in the country, providing some relief to consumers.

READ MORE: ECCIMA Applauds Dangote’s Impact On Nigeria’s Economy

Chinedu Ukadike, National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), assured the public that the price drop aligns with the Federal Executive Council’s recent directive on the Naira-for-Crude agreement.

“We are confident that this price reduction will be beneficial for the Nigerian people,” Ukadike said.

In a related development, the Federal Executive Council has authorized the full implementation of the long-suspended Naira-for-Crude agreement with local refiners.

This policy aims to reduce Nigeria’s reliance on foreign exchange for petroleum imports and boost local refining capacity.

The Ministry of Finance released a statement following a meeting between Finance Minister Wale Edun and Dangote Refinery officials.

The statement emphasized that the Naira-for-Crude initiative is a long-term policy, not a temporary measure.

“The initiative is designed to support sustainable local refining, enhance energy security, and reduce the country’s dependency on foreign currency for petroleum products,” the Ministry’s statement read.

 

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Dangote, CNN Seal Multi-Year Partnership, Launch New ‘Africa Inc.’ Show

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Dangote Industries Limited and CNN International Commercial (CNNIC) have entered into a multi-year global partnership to showcase African businesses, innovation and industrial development to audiences around the world.

A key part of the partnership is Dangote’s sponsorship of Africa Inc., a new half-hour programme on CNN International that will highlight African companies competing and expanding on the global stage.

SEE ALSO: Tanzania Eyes Expanded Dangote Investments in Fertiliser, Energy, Infrastructure

Hosted by Adefemi Akinsanya, Africa Inc. will examine businesses across sectors including technology, hospitality, manufacturing and entertainment, while exploring Africa’s growing influence on global commerce, innovation and consumer trends.

The programme is scheduled to premiere on CNN International on August 29, 2026, with four additional episodes planned for the remainder of 2026 and into 2027.

Bespoke Africa Inc. segments will also air every two months on CNN International, supported by digital and social media content.

The partnership will further feature branded content produced by CNNIC’s in-house studio, Create, under the Africa First series.

The series will focus on Africa’s drive towards energy independence and economic transformation through films, data-driven articles and social media content highlighting the continent’s industrial development.

Dangote Industries will be featured as one example of Africa’s industrial transformation.

The campaign will run across CNN International, CNN.com and CNN Arabic, as well as CNN Business platforms on Facebook, Instagram and LinkedIn. The Africa First content will also feature across CNN’s US television and digital platforms.

Beyond television and digital media, Dangote Industries will sponsor three editions of CNN’s new Global Perspectives events franchise over the next 12 months.

CNN International Commercial Senior Vice President for Advertising Sales, Cathy Ibal, said the partnership would help bring stories of African innovation, resilience and leadership to CNN’s international audience.

“We are pleased to once again be working with Dangote Industries Limited to tell the stories of a self-sufficient Africa,” Ibal said.

Dangote Industries Group Chief Branding and Communications Officer, Anthony Chiejina, said the collaboration was part of the conglomerate’s global brand positioning strategy.

He added that the partnership would provide a platform to showcase Dangote Industries’ Vision 2030 economic blueprint and industrialisation drive to a global audience.

The Africa First branded content is expected to launch this week, ahead of the August 29 premiere of Africa Inc. on CNN International.

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NEWS

How Nigerian Twins Defied Recruitment Rumours to Secure NNPC Jobs

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Identical Nigerian twins, Hussaini and Hassan Malami, have secured employment with the Nigerian National Petroleum Company Limited as members of the NNPC Tigers Class of 2026, after overcoming a misconception about the company’s recruitment process.

Their inspiring story was contained in a profile by Adaobi Oniwinde, Senior Communications Advisor at NNPC Limited, on Monday.

Hussaini, who had always aspired to work with NNPC, applied when the company opened its recruitment exercise and encouraged his twin brother, Hassan, to do the same.

SEE ALSO: NNPC Ltd Considers Commissioning, as AKK Gas Pipeline Lands Abuja

Hassan initially hesitated because he believed NNPC recruited only one person from a family. Concerned that applying could jeopardise his brother’s chances, he decided against it at first.

He was also more interested in joining the Nigerian Air Force and already had a job in the banking sector.

However, with the application deadline approaching and following persistent encouragement from Hussaini, Hassan eventually applied.

The brothers later took the computer-based recruitment test on the same day but at different locations, with Hussaini sitting for his test in Sokoto and Hassan taking his in Kaduna.

After going through interviews and other stages of the recruitment process, both brothers received employment letters on the same day.

Hussaini said he discovered his employment offer after midnight and was eager to share the news with his family.

“I opened the email after midnight and wanted to wake everybody up to tell them,” he said.

Hassan said he learnt about his successful application through the family WhatsApp group when he woke up.

“That’s when the pressure hit me. I was now nervous about the possibility of not being successful once Hussaini shared his news,” he said.

The twins eventually secured positions in different NNPC subsidiaries. Hussaini joined NNPC Exploration & Production Limited, while Hassan joined NNPC Gas Infrastructure Company.

For Hassan, the new job has exposed him to aspects of Nigeria’s gas industry that were previously unfamiliar to him.

“I didn’t know there was a whole business dedicated to transporting gas,” he said, explaining that his experience had given him a clearer understanding of how gas powers plants and supports manufacturing companies.

Although Hassan had initially hoped to pursue a career in the military, he now considers his role in the energy sector another form of national service.

He also said he still hoped to explore military service before reaching the age limit in 2030.

Hussaini, on his part, said working at NNPC had strengthened his desire to contribute to the development of Nigeria’s energy sector.

He also expressed interest in becoming a guest lecturer at his university in the future, saying he wanted to share practical industry experience with students.

“When I was in university, I only had one lecturer with field experience,” he said. “I want to share practical experience with students someday.”

The brothers also identified different NNPC culture transformation pillars that reflected their individual approaches to work.

Hussaini chose “Enterprise First,” saying, “Giving your best to the company is giving your best to the country.”

Hassan, a civil engineer, selected “Execution Excellence,” explaining, “I’m a civil engineer. I like seeing things come to life from concept to completion.”

The twins urged young Nigerians interested in working with NNPC to ignore rumours about the recruitment process and apply whenever opportunities arise.

“You don’t need to know anybody at NNPC. Apply. Take the test and earn your place,” they said.

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Iran Rolls Out Terms for Hormuz Reopening

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New concerns have emerged that disruption to one of the world’s most critical oil routes might continue, as Iran has laid terms of reopening the Strait of Hormuz on the table before the United States of America (USA).

Biztellers reports that Iran is demanding six things, touching on military operations, sanctions, compensation and access to her frozen assets, as conditions precedent to the reopening of the route.

According to Mohammad Baqer Zolghadr, Secretary of Iran’s Supreme National Security Council (SNSC), Tehran expected Washington to end what it described as hostile actions before the strategic waterway could be reopened.

Iran’s conditions include an end to US threats and military operations, a permanent cessation of the war, the withdrawal of American naval and air forces from areas around Iran, compensation for damage caused by the conflict, the removal of sanctions and the release of frozen Iranian assets.

READ ALSO: NMDPRA Moots New Policy to Improve Energy Security, Stem Fuel Price-fixing

The demands indicate that Tehran does not consider the draft agreement being discussed with Washington sufficient to restore normal shipping through the strait.

Any eventual agreement would also require approval from Iran’s SNSC, suggesting that the reopening of the waterway could remain tied to wider political and security negotiations.

The development comes as shipping activity through the Strait of Hormuz remains significantly below previous levels, with only 33 vessels crossing the waterway from Monday through Thursday, compared with 50 during the corresponding period a week earlier.

Crude tanker movements have been particularly limited, with only six crude oil tankers reportedly exiting the strait so far this week.

The subdued traffic has persisted despite expectations that Iran and Oman could reach an arrangement to facilitate a shipping corridor through the waterway.

Further uncertainty surrounds the treatment of vessels linked to the USA and Israel, with Tehran considering restrictions on such ships. Earlier proposals for charging transit fees have also heightened concerns among shipping operators.

In a related development, the European Union (EU) has accused Iran’s Islamic Revolutionary Guard Corps Navy of operating a screening and toll system for vessels transiting the strait, adding to concerns over the security and cost of commercial shipping.

Washington, however, has struck a more optimistic tone.

US Vice President, JD Vance, said the administration expected oil and gas flows from the Gulf to eventually return to levels recorded before the conflict.

Vance also said Iran had informed Washington that it did not intend to impose transit tolls, although he acknowledged that the United States remained cautious about relying on Tehran’s assurances.

The conflicting positions have left the outlook for a return to normal shipping through Hormuz uncertain.

While Washington is projecting a restoration of Gulf energy flows to pre-war levels, Iran has now linked the reopening of the strait to broad military, political and financial concessions from the United States.

The Strait of Hormuz is a critical artery for global energy markets, making the duration of the disruption particularly significant for crude oil, refined products and natural gas supplies.

The outcome of the negotiations could therefore determine whether the current disruption remains a short-term shock or develops into a prolonged threat to global energy supplies, with potential implications for oil prices, tanker markets and energy security worldwide.

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