Connect with us

Business

NNPC Ltd Reports NGN7.91tn Statutory Payments, 100% Pipeline Availability

info

Published

on

NNPC Limited Delivers NGN7,913 Billion in Statutory Payments, Sustains 100% Upstream Pipeline Availability for Second Consecutive Month

NNPC Ltd. has released its Monthly Report Summary for July 2026.

Cumulative statutory payments for January to July 2026 reached NGN7,913 Billion, up from NGN6,286 Billion for January to June 2026, reflecting a month-on-month addition of NGN1,627 Billion. Similarly, upstream pipeline availability was sustained at 100% for the second consecutive month.

The post NNPC Ltd Reports NGN7.91tn Statutory Payments, 100% Pipeline Availability appeared first on Business Today NG.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Ethiopia, Djibouti hail Dangote’s $660 million pipeline as energy security boost

info

Published

on

By

Screenshot 2026 05 15 085218.png

Ethiopian Prime Minister Abiy Ahmed and Djibouti President Ismaïl Omar Guelleh have commended Dangote Group’s $660 million Damarjog-Dewele Oil Terminal and Pipeline Project, describing it as a major infrastructure investment capable of transforming regional trade and energy supply.

The leaders spoke at the groundbreaking ceremony for the project at the Damerjog Industrial Development Free Trade Zone in Djibouti.

The project involves the construction of a 120-kilometre multiproduct pipeline connecting marine and coastal storage facilities at Damarjog in Djibouti with inland storage and distribution facilities at Dewele in Ethiopia.

Upon completion, the pipeline is expected to facilitate the movement of refined petroleum products into Ethiopia, reduce transportation bottlenecks and improve the reliability of fuel supplies to the country and the wider region.

Boost to Djibouti

President Guelleh said the project would support Djibouti’s ambition to become a major logistics, industrial and energy hub in Africa.

“Today marks an important chapter in Djibouti’s journey toward becoming a premier centre for logistics, energy, and industrial development. The Damarjog-Dewele Pipeline Project is not merely infrastructure; it is an investment in the future prosperity of our region,” he said.

PT WHATSAPP CHANNEL
Dangote Refinery AD

According to him, the investment would increase trade volumes, expand port operations, attract additional investments and create direct and indirect employment opportunities.

“We are proud to partner with the Dangote Group in delivering a project that demonstrates the strength of African-led investment and practical African solutions to African challenges,” Mr Guelleh said.

On his part, Prime Minister Abiy said the pipeline would strengthen Ethiopia’s energy security by providing a more efficient and reliable channel for transporting refined petroleum products.

“Ethiopia’s continued economic expansion depends on reliable and efficient access to energy resources. This pipeline will provide a modern, dependable, and cost-effective system for transporting refined petroleum products into the country, thereby enhancing our energy security and reducing supply-chain vulnerabilities,” he said.

He said the project would support sectors including aviation, transportation, agriculture, manufacturing and construction by improving access to petroleum products.

The prime minister also said the infrastructure would reduce losses associated with long-distance transportation and improve the efficiency of Ethiopia’s petroleum distribution network.

He described the project as another example of economic cooperation between Ethiopia and Djibouti.

The project will reduce logistics risks

Speaking at the ceremony, Aliko Dangote, President and Chief Executive of Dangote Industries Limited, said the project was part of the group’s broader efforts to develop infrastructure that supports Africa’s economic growth and self-sufficiency.

“This project is designed to enhance energy security, improve supply-chain efficiency, and create sustainable economic value for both Djibouti and Ethiopia,” Mr Dangote said.

He said Djibouti would benefit from increased port activity, revenues and employment, while Ethiopia would gain improved energy security and reduced logistics constraints.

Mr Dangote noted that the Djibouti corridor is a major route for Ethiopia’s imports and exports, including petroleum products.

According to him, the pipeline would reduce dependence on long-distance tanker movements, ease congestion and lower operational risks associated with transporting petroleum products by road.

READ ALSO: Dangote refinery drove Nigeria’s petrol supply in August as NNPC refineries remain shut — Report

The project is also expected to create jobs during construction and operation and provide opportunities for local contractors, suppliers, transport operators and communities.

The Damarjog-Dewele project is part of Dangote Group’s Vision 2030 strategy, under which the conglomerate plans to invest $50 billion across Africa in industrial and energy infrastructure.

Mr Dangote said the group’s objective was to support African countries in reducing dependence on imports and increasing local production.

“Our vision is to support African countries in becoming self-sufficient in products for which they possess the raw materials, market demand, and strategic necessity,” he said.

The project further expands Dangote Group’s investments in Africa’s energy and industrial sectors, following the development of the Dangote Petroleum Refinery in Nigeria and other investments across the continent.


Discover more from Premium Times Nigeria

Subscribe to get the latest posts sent to your email.

Continue Reading

Business

Lagos Police Seal Illegal Alcohol Factory In Badagry, Arrest Suspect

info

Published

on

By

Lagos State Police Command has discovered and sealed a suspected illegal factory allegedly used for the production of adulterated alcoholic drinks in Badagry.

The operation led to the arrest of Anaebo Emeka Hilary, ‘m’, 48 years, at Yafin, Badagry, Lagos State, where the suspected illegal factory was located.

During the operation, the operatives recovered adulterated alcoholic drinks, empty bottles, different wine labels and various production utensils suspected to have been used in the production and packaging of the drinks.

The factory was subsequently sealed, while the suspect was taken into Police custody. The recovered items have been taken to the station for further investigation.

The Commissioner of Police, Lagos State Command, CP Tijani Fatai, psc, mnips, commended the operatives for their vigilance and prompt response to credible information.

He reaffirmed the Command’s commitment to sustaining intelligence-led operations against criminal activities across the state, while urging members of the public to continue providing timely and credible information to the Police through any of the emergency lines: 07061019374, 08065154338, 08063299264, 08039344870, 08080193432 (Marine), 09168630929.

The post Lagos Police Seal Illegal Alcohol Factory In Badagry, Arrest Suspect appeared first on Business Today NG.

Continue Reading

Trending