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Dangote Refinery Begins Distribution of PMS Sunday – Minister

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The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, says the Dangote Refinery will begin the distribution of Premium Motor Spirit (PMS) on Sunday.Edun, who was represented by the Executive Chairman, Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, said this at a news conference in Abuja on Friday.

“I am glad to announce that all agreements have been completed and loading of the first batch of PMS from the Dangote Refinery will commence on Sunday, Sept.
15.“From Oct. 1, NNPC Ltd. will commence the supply of about 385kbpd of crude oil to the Dangote Refinery, to be paid for in Naira. In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market, to be paid in Naira.
“Diesel will be sold in Naira by the Dangote Refinery to any interested off-taker. PMS will only be sold to NNPC, NNPC will then sell to various marketers for now,” he said.Edun said that all associated regulatory costs (NPA, NIMASA, etc.) would also be paid for in Naira.“We are also setting up a one-stop shop that will coordinate service provision from all regulatory, and security agencies, and other stakeholders to ensure a smooth implementation of this initiative. This will be located in Nigeria Ports Authority (NPA). Lagos.“The technical committee that worked to flesh out this initiative will transition to an implementation execution and monitoring committee that will be working out of Lagos for the next three to six months,” he said.Edun recalled that the Federal Executive Council (FEC) , under the leadership of President Bola Tinubu, approved the sale of crude oil to local refineries in Naira and corresponding purchase of petroleum products in NairaHe said that the initiative would help reduce pressure on the Naira, eliminate unnecessary transaction costs, and improve availability of petroleum products in the country.The minister said that the implementation committee chaired by him, and the other technical committee had worked intensely with NNPCL and Dangote Refinery, to fashion out the details of the modalities for the implementation of FEC approval.“We would sincerely like to thank President Tinubu for championing this novel initiative and assure him that he can count on us to implement his vision.“I will also like to thank everyone for the hardwork and patriotism exhibited over the last couple of weeks,” he said.Report says that Edun chaired the presidential committee on the sales of crude oil and refined products for domestic consumption in Naira. (NAN)

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Fresh Terrorists Attack Kills One, Injures Two in Kogi

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From Joseph Amedu, Lokoja

A yet to be identified gunmen suspected to be armed terrorists have attacked two communities in Kogi state killing one resident and injuring two others.

The affected communities are Edede and Ojapata communities both in Oganenigu, Dekina local government of Kogi state.

The gunmen who stormed the communities at about 3:30pm on Tuesday shot dead one Nasiru Ulayi and also razed several residential houses in Ojapata and Edede, rendering many homeless and forcing them into displaced camps.

In a similar attack, gunmen ambushed two members of the local Vigilante in Onitcha-Igo in Ofu local government of the state.

The vigilante members who were on routine patrol unconsciously walked into the ambush and the gunmen opened fire on both of them.

The vigilante members skillfully escaped the rain of bullets, but were fatally wounded during the attack.

DAILY ASSET learnt that the vigilante men were rushed to the Federal University Teaching Hospital (FUTH) Lokoja for urgent medical attention.

One of the victims is said to be currently undergoing surgery as the medical personnel battle to treat bone fracture.

Eye witness said there are growing activities of kidnappers in the affected communities. “The kidnappers in this local communities are brazen and determined to flourish in their trade not minding the presence of security”

However, the Kogi State Police Command is yet to confirm the incident as efforts to reach the Police Public Relations Officer Afusat Oyiza Saliu failed.

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Foreign News

Boko Haram Militants Kill 23 Soldiers in Chad

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The Chadian armed forces on Tuesday said that 23 soldiers were killed and 26 hurt in an attack by Islamist militant group Boko Haram on a base on the shores of Lake Chad.

Army spokesman Issakha Acheikh Chanane said that the attack late on Monday on the island of Barka Tolorom in Lake Chad was repelled by Chadian forces and that “a significant number of militants were neutralized.

Chadian President Mahamat Idriss Déby Itno called the attack “cowardly” in a post on Facebook.

“In the face of barbarism, Chad stands firm, united, and unyielding,” the president said.

“Obscurantism will never prevail over the Republic. We will continue the fight with renewed determination until this threat is eradicated.”

Boko Haram, which was founded in Nigeria in West Africa, has been carrying out repeated attacks in the neighbouring Central African countries of Chad and Cameroon for years.

The islands in Lake Chad in the common border area of the three countries are now the militia’s main retreat.

The worst attack in Chad occurred in March 2020 on the Bohoma peninsula, where around 100 soldiers were killed. 

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Dangote Cement Grows Exports by 71.6 Per Cent, Posts N421bn Profit

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By Tony Obiechina, Abuja

Dangote Cement Plc delivered a strong first-quarter performance in 2026, with cement and clinker exports from Nigeria rising by 71.6 per cent as the company expanded its footprint across Africa.

The cement giant disclosed in its unaudited Q1 2026 financial results that it completed 10 clinker shipments from Nigeria to neighbouring markets during the period, reinforcing its status as Africa’s leading cement exporter.

Group installed production capacity also climbed to 55 million tonnes per annum (MTA) across the continent, while total sales volumes grew by 13.8 per cent year-on-year.

This growth was driven by an 11.

5 per cent increase in Nigerian operations and a 19.5 per cent rise across pan-African markets.

Group Managing Director and Chief Executive Officer, Arvind Pathak, described the performance as an exceptional start to the year.

According to him, revenue rose by 20.4 per cent year-on-year to ₦1.198rn, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 22.8 per cent to N567.1bn.

He said the company’s disciplined cost management and efficient operating model were instrumental in converting sales growth into stronger profitability.

Profit before tax for the quarter stood at N421.1bn, marking a 35 per cent increase from N311.9 billion recorded in Q1 2025. Earnings per share also rose significantly to N19.14 from N12.29.

Pathak highlighted the rapid expansion of the company’s export business, noting that growing clinker shipments from Nigeria further strengthened Dangote Cement’s strategic leadership in regional trade.

He also revealed progress on key expansion projects, including the newly commissioned 3MTA grinding plant in Côte d’Ivoire, alongside ongoing projects in Itori, Ethiopia, and other strategic African markets.

The company aims to increase total production capacity to 80MTA by 2030 as part of its long-term growth strategy.

Dangote Cement currently operates 35.25MT capacity in Nigeria, with major plants located in Obajana, Ibese, Gboko, and Okpella.

Through sustained investment in local manufacturing, the company has successfully transformed Nigeria from a cement-importing nation into a net exporter, supplying clinker and cement to countries across West and Central Africa.

With resilient demand across its markets and ongoing expansion initiatives, Dangote Cement says it remains optimistic about maintaining strong growth and delivering long-term shareholder value throughout 2026.

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