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“I generate about 15% of the electricity used in Nigeria” – Davido’s dad, Adedeji Adeleke, reveals as he announces he is building the largest thermal power plant in the country, valued at $2 billion and set to launch in January 2025.

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Adedeji Adeleke, Davido’s father, is indeed a powerhouse in Nigeria’s business scene. As the CEO of Pacific Holdings Limited, he’s been making waves in various industries.

Now David’s father is taking on the energy sector with an impressive project – building the largest thermal power plant in Nigeria, valued at $2 billion and set to launch in January 2025.

Ekwutosblog gathered that his  new venture will reportedly generate about 15% of the electricity used in Nigeria, significantly contributing to the country’s power needs.

Given Adedeji Adeleke’s track record as a successful entrepreneur, it’s no surprise he’s taking on this ambitious project.

Some of Nigeria’s current top thermal power plants include:

•⁠ ⁠_Egbin Power Station_: a 1,320MW thermal power project located in Lagos
•⁠ ⁠_Alaoji Power Station_: a 1,074MW thermal power project located in Abia
•⁠ ⁠_Afam Power Station I-V_: a 987.20MW thermal project located in Rivers
•⁠ ⁠_Ughelli Delta Power Plant_: a 964.68MW thermal project located in Delta
•⁠ ⁠_Olorunsogo II Power Plant_: a 750MW thermal project located in Ogun

Adedeji Adeleke’s new power plant will likely join this list, further solidifying his impact on Nigeria’s energy landscape.

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Port-Harcourt Refinery Fully Operational

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December 21, 2024

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Port-Harcourt Refinery Fully Operational
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PRESS RELEASE

Port-Harcourt Refinery Fully Operational

The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.

We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.

Preparation for the day’s loading operation is currently ongoing.

Members of the public are advised to discountenance such reports as they are the figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.

Olufemi Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja

21st December, 2024

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Business

Competition is affecting Dangote Refinery, Dangote is ready to sell on Credit to any marketer that can buy a truck and the marketer will get the second truck on credit.

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December 19, 2024

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Dangote Refinery faces competition from several sources, including: 

  • Fuel importers
    The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) continues to issue licenses for refined product imports, which can make it harder for Dangote to meet local demand. 

  • Marketers
    Marketers have different views on whether to pay Dangote in advance for petrol. Some say that advance payments can put financial pressure on marketers, especially those with limited capital. Others say that advance payments are necessary to ensure the refinery’s operations run smoothly. 

  • Legal disputes
    Oil marketers are in a legal dispute with Dangote over the refinery’s request to restrict import licenses. 

  • Direct purchasing
    Marketers can now purchase petrol directly from Dangote Refinery and other local refineries. This allows marketers to negotiate commercial terms directly with the refineries, which can create a more competitive market environment. 

The start of operations at the Dangote Petroleum Refinery and other refineries has increased transparency and market competition in West Africa. 

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Yuletide: Dangote Refinery slashes petrol price to N899.50

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December 19, 2024

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Dangote Petroleum Refinery has announced a reduction in the price of Premium Motor Spirit to N899.50 per litre, in a bid to offer Nigerians some relief as the holiday season approaches.

The refinery had previously cut the price to N970 per litre on November 24.

The latest reduction aims to ease transportation costs during the festive period, a time when Nigerians often face increased travel expenses.

This was disclosed in a statement issued by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, on Thursday.

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