By Adedapo Adesanya

Dangote Refinery will begin to export premium motor spirit (PMS), also known as petrol, with the first destination bound for Asia this month.

According to Reuters, a 90,000 metric ton cargo of petrol from the refinery will be sold out of the region for the first time and bound for the Asian continent, without specifying which country.

Citing a source, Mercuria – a Switzerland-based global commodity trading firm – is due to load the cargo on June 22

This development will change the export strategy of the 650,000 barrels per day refinery which started exporting petrol last year. However, the cargoes have stayed in West Africa.

The Asia route also points to the fact that the $20 billion Dangote refinery is growing and can take upon the global market as a petrol supplier.

It also indicates the company’s confidence that production is now stable enough to meet Nigeria’s domestic needs and also export beyond the African region.

“We sell our products to those who are willing to give us the highest price. It’s the buyer’s right to take the products to any destination of their choice,” a spokesperson for the Dangote refinery said to the publication.

Even at home, the refinery is making moves as it announced plans to begin nationwide distribution of petrol and diesel from August 15, 2025 with a targeted customers including marketers, petrol dealers, manufacturers, telecoms firms, aviation, and other large users across the country.

The company is deploying 4,000 brand-new Compressed Natural Gas-powered tankers to boost delivery capacity and improve access to fuel across the country.

The offer, according to a statement released on Sunday, is open to marketers, petrol station dealers, manufacturers, telecoms operators, aviation firms, and other large-scale fuel users.

The firm also disclosed plans to support distribution through the establishment of daughter booster CNG stations and a dedicated fleet of over 100 gas-powered tankers. It noted that the logistics support, including free product delivery, was designed to eliminate distribution bottlenecks and bring down operational costs in key sectors of the Nigerian economy.

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange appreciated by 1.00 per cent on Tuesday, June 17 after four stocks ended in green territory.

Central Securities Clearing System (CSCS) Plc gained N2.90 to close at N31.90 per share compared with the previous day’s N29.00 per share, FrieslandCampina Wamco Nigeria Plc improved its value by N2.81 to settle at N71.31 per unit compared with Monday’s price of N68.50 per unit, Air Liquide Plc appreciated by 89 Kobo to end at N9.97 per share versus the N9.08 per share it was sold a day earlier, and UBN Property Plc added 6 Kobo to its value to finish at N2.24 per unit, in contrast to the preceding day’s N2.18 per unit.

As a result, the market capitalisation of the platform rose by N19.42 billion to N1.967 trillion from N1.947 trillion and the NASD Unlisted Security Index (NSI) increased by 33.17 points to 3,359.50 points from the previous session’s 3,326.33 points.

Yesterday, the volume of securities jumped by 33.3 per cent to 639,427 units from the 479,638 units traded in the previous trading day, the value of securities went up by 8.3 per cent to N23.6 million from N21.8 million, and the number of deals declined by 5.4 per cent to 35 deals from 37 deals.

At the close of business, Impresit Bakolori Plc remained the most traded stock by volume on a year-to-date basis with 536.9 million units worth N524.7 million, followed by Air Liquide Plc with 507.2 million units sold for N4.2 billion, and Geo-Fluids Plc with 268.4 million units valued at N475.7 million.

Also, Okitipupa Plc was the most active stock by value on a year-to-date basis with the sale of 153.7 million units for N4.9 billion, trailed by Air Liquide Plc with 507.2 million units traded for N4.2 billion, and FrieslandCampina Wamco Nigeria Plc with a turnover of 39.5 million units valued at N1.6 billion.

By Adedapo Adesanya

The Naira appreciated against the United States Dollar by N0.59 per cent or N9.28 in the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment on Tuesday, June 17 to N1,545.29/$1 from the previous day’s value of N1,554.57/$1.

Also, the Naira gained against the Pound Sterling in the spot market during the session by N6.54 to sell for N2,094.92/£1 versus the preceding day’s N2,101.46/£1 and strengthened against the Euro by N5.59 to trade at N1,786.33/€1, in contrast to Monday’s value of N1,791.92/€1.

Similarly, the Nigerian currency improved its value on the greenback in the parallel market yesterday by N5 to quote at N1,585/$1 compared with the N1,590/$1 it was traded a day earlier.

It was observed that the domestic currency has started to regain its feet in the forex market segments because of the cooling inflation.

Nigeria’s headline inflation rate eased further to 22.97 per cent in May 2025, according to the National Bureau of Statistics (NBS), compared with the 23.71 per cent it recorded in April 2025.

This development will support sustained investor confidence and market optimism boosted by offshore FX inflows as well as boosting local production, easing FX pressure, and strengthening non-oil exports over the last few months.

Also, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, assured that the federal government was committed to deepening alignment of Nigeria’s fiscal and monetary policies to stimulate economic growth following discussions with the Governor of the Central Bank of Governor (CBN), Mr Yemi Cardoso.

Meanwhile, the cryptocurrency market turned red on Tuesday, triggered by military escalation between Israel and Iran. This kept traders cautious especially as President Donald Trump threatened Iran’s supreme leader amid the Middle East clash.

Solana (SOL) fell by 3.8 per cent to $147.14, Ripple (XRP) lost 3.5 per cent to trade at $2.15, Cardano (ADA) went down by 2.8 per cent to $0.6142, and Ethereum (ETH) fell by 2.3 per cent to $2,524.69.

Further, Bitcoin (BTC) declined by 1.8 per cent to $105,001.59, Dogecoin (DOGE) slumped by 1.8 per cent to sell at $0.1704, Litecoin (LTC) depreciated by 1.6 per cent to $84.94, and Binance Coin (BNB) slid by 0.9 per cent to $651.63, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 each.