Dangote refinery to begin new product export after capacity boost
The Dangote Petroleum Refinery and Petrochemicals announced a partnership with Vinmar Group, a global petrochemicals distributor, to introduce Dangote polypropylene to international markets.
Dangote Petroleum Refinery announced a partnership with Vinmar Group to introduce polypropylene internationally.
The petrochemical plant in Lagos, with an 830 metric tonne capacity, began polypropylene production in March.
The facility aims to satisfy local demand and export surplus, advancing Nigeria's self-sufficiency.
The Dangote Petroleum Refinery and Petrochemicals announced a partnership with Vinmar Group, a global petrochemicals distributor, to introduce Dangote polypropylene to international markets.
Dangote's $2 billion Petrochemical Plant in Lagos, which has a production capacity of 830 metric tonnes, started producing polypropylene in March, packaging it in 25kg bags for the local market.
Fatima Aliko Dangote, group executive director (commercial), of Dangote Group, said the deal reflects the company's drive to make Dangote Polypropylene a world-class brand.
'We're pleased to partner with Vinmar to introduce Dangote Polypropylene to the global markets. It will follow other Dangote products to become a global brand known for quality and reliability,' she said.
Polypropylene is a type of plastic polymer made from the chemical compound propylene. The polypropylene grades produced are tailored for key sectors such as packaging, automotive, textiles, and construction, thanks to their durability, lightweight nature, and chemical resistance.
Scaling up production
Nigeria currently imports 90% of its annual polypropylene needs, totaling around 250,000 metric tonnes per year. Nigerian manufacturers estimate that Dangote's new polypropylene production could save the country $267 million.
The Dangote facility aims not only to meet local demand but also to become a net exporter.
Earlier this month, the company said it is increasing its production from 36 million to 52 million polypropylene bags per month and is on course to increase that figure in the coming years.
With this increased capacity, Dangote Petroleum Limited (DPL) will expand its reach into markets across West, Central, and Southern Africa.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
32 minutes ago
- Yahoo
Tigran Gambaryan, Binance Exec Who Was Detained in Nigeria for Nearly a Year, Departs Crypto Exchange
Tigran Gambaryan, the former U.S. federal agent who led Binance's financial crime compliance efforts, announced that he is leaving the company after a tumultuous four-year tenure. Gambaryan, once a IRS investigator, joined Binance in 2021 when the crypto exchange was under growing scrutiny for its lax compliance with anti-money laundering regulations. At the time, Binance had no investigations team. Under his leadership, the company built a 100-person global unit staffed with former prosecutors and federal agents, he said on social media. However, His tenure at Binance took a dramatic turn in 2024, when Nigerian authorities detained him on allegations tied to the exchange's operations. Gambaryan spent eight months in prison before being released on humanitarian grounds following bipartisan U.S. political pressure. He was ultimately cleared of charges, though Nigeria continued to pursue penalties against Binance. Later on, he said it would be an honor to serve his country again, if asked to do so. In his departure message, Gambaryan reflected on his time at Binance and expressed a desire to continue bridging the worlds of enforcement, technology, and compliance. 'There's a growing need for trusted, experienced operators, people who understand how to translate between technology, enforcement, and compliance,' he wrote. 'That's where I intend to continue making a difference,' he in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
5 hours ago
- Business Insider
Crypto is going mainstream in Africa, and Monica.cash is building the bridge
is transforming cryptocurrency into a practical financial tool for everyday Nigerians, offering fast crypto-to-Naira conversion, seamless local payments, and global spending access, all within one secure mobile app. Its relevance continues to grow, especially now in June 2025. Across Africa, more people are turning to cryptocurrency not just as an investment, but as a faster and cheaper way to manage money. In Nigeria, one of the world's most active crypto markets, a rising platform is leading this shift by solving a key problem: how to use crypto for everyday needs without the usual complications. That platform is a Nigerian-built app that makes it easy for anyone to convert crypto into local currency, pay bills, and spend money both online and offline. With over $100 million in crypto converted and more than ₦150 billion in payouts, it is rapidly becoming one of the most trusted tools for crypto-powered finance in Africa. At the heart of Monica's platform is its instant crypto-to-Naira engine. This feature allows users to deposit popular cryptocurrencies like Bitcoin, Ethereum, and USDT into their Monica wallet and instantly receive the equivalent amount in Nigerian Naira. From there, users can either withdraw to their bank accounts or use the balance to make payments directly inside the app. This process, known as a crypto off-ramp, turns digital assets into real-world money. Monica sets itself apart with its speed and simplicity. Transactions are processed in minutes, and the app connects directly to over 30 Nigerian banks, making withdrawals seamless. 'Most platforms make you move money across multiple wallets, wait hours for confirmations, or face high fees,' said Monica's CEO. 'We've removed those barriers. With Monica, you log in, send your crypto, and get Naira in your bank account quickly and easily.' Monica goes far beyond basic wallet functions. It is designed as a complete financial toolkit for Nigerians. Once a user has Naira in their Monica balance, they can recharge airtime or mobile data, pay electricity, cable, and internet bills, buy from a library of over 1,000 digital gift cards, send money to other users or bank accounts, and create a virtual dollar card for international payments. The virtual dollar card is especially useful in Nigeria, where many traditional cards are blocked from international websites. Monica's card works with any platform that accepts Visa or Mastercard, allowing users to pay for subscriptions, ads, shopping, and software globally. Despite the advanced infrastructure behind it, Monica is built to feel effortless. The app uses biometric logins, real-time alerts, and strong encryption to protect users. It works well on low-bandwidth connections and is optimized for mobile, which is crucial in a country where most people use smartphones for financial access. 'People shouldn't need to be tech experts to use crypto,' said the CEO. 'We've built Monica to work for everyday people, not just developers or traders.' In many parts of the world, crypto is still viewed as speculative or risky. But in Nigeria, the technology is being used out of necessity, for payments, savings, and protection from inflation. Monica is tapping into that demand, not by promising future possibilities, but by delivering practical, usable tools today. The platform also rewards adoption through a ₦1500 welcome bonus for new users and ₦200 referral rewards when invited users deposit crypto. But the real incentive is usability, the ability to make crypto work like money should: fast, reliable, and useful. 'Crypto doesn't need to be complicated,' the CEO added. 'It needs to be helpful. That's what Monica is here to do.'
Axios
6 hours ago
- Axios
Check out these new shops and restaurants in Philadelphia
If you're in the mood to treat yourself or splurge, the latest lineup of new restaurants and businesses in Philadelphia has you covered. Why it matters: From big-name companies to newcomers to local expansions, Philly's business scene has plenty of new offerings to mix up your routine. Here is a rundown of businesses that have already opened and are planning to in the coming months. Now open 🐔 Dave's Hot Chicken: This restaurant chain is among the leaders of the nationwide hot chicken craze and adds to its growing empire with a Center City location. 1731 Chestnut St. 🏌️ Five Iron Golf: Perfect your swing at the top-tier golf simulator and then stick around for a few drinks at the outdoor patios at this new location in Logan Square. 1717 Arch St. 💇♀️ Hair Vyce Studio: This University City salon has expanded to Rittenhouse. Services range from hair extensions to nail enhancements. 1722 Sansom St. 🇳🇬 New Era Cuisine: Taste Nigerian dishes at this restaurant located in the lower-level concourse under Two Penn Center. 1500 John F Kennedy Blvd 🛋️ 7th Avenue: Boasting the "world's greatest modular sofa," the furniture brand offers high-end indoor and outdoor seating options. 1427 Walnut St. ⚒️ Alloy Atelier: Get your craft on when you book a workshop or class focused on jewelry making at this new space inside the Bok Building in South Philly. 821 Dudley St., Suite 107A 🍷 Supérette: Find your new favorite wine or join a wine club at this bottle shop and market in East Passyunk. 1538 E. Passyunk Ave ☕ Haraz Coffee House: A Yemeni coffee shop where you can hang out and enjoy the vibe in University City. 3401 Chestnut St. Coming soon 🇵🇷 Casa Borinqueña: A Puerto Rican vegan restaurant from San Francisco opens a new location in Kensington on Saturday. 2557 Amber St. 🍭 All Aboard Candy: Satisfy your sweet tooth when the company's first brick-and-mortar store opens in Rittenhouse. 233 S. 20th St. 🌮 El Chingón Fishtown: This notable South Philly Mexican restaurant will expand into Fishtown with some of its signature dishes and adds cocktails to the menu. 1431 Frankford Ave.
