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Tag: Dangote Refinery

  • Dangote Refinery Eases Petrol Pump Price 

    Dangote Refinery Eases Petrol Pump Price 

    Nigerians may soon heave a heavy sigh of relief as Dangote Petroleum Refinery announced a cut in petrol pump price from N990 per litre to N970 per litre for marketers.

    The company stated that this price cut is a gesture of appreciation to Nigerians for their continued support in making the refinery a reality.

    As the year draws to a close, Dangote Refinery also expressed its gratitude to the Nigerian government for its unwavering support, highlighting that the reduction aligns with efforts to strengthen domestic industries for the benefit of all.

    In its statement, Anthony Chiejina, Group Chief Branding and Communications Officer, emphasized that while the refinery is committed to reducing costs, it will not compromise on the quality of its products. 

    The refinery assures the public of high-quality, environmentally friendly, and sustainable fuel.

    Looking ahead, Dangote Refinery is focused on increasing production capacity to meet and exceed the nation’s fuel demands, ensuring stability and security in the domestic fuel supply chain.

    In the Nigerian economy that is heavily challenged by deficit in transportation infrastructure, especially the near absence of reliable mass transport system, this marginal cut is expected to have a cascading effect on inflationary trend and the price of ancillary services.

  • IPMAN Partners with Dangote Refinery for Direct Product Supply

    IPMAN Partners with Dangote Refinery for Direct Product Supply

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) has reached an agreement with Dangote Refinery to procure petroleum products directly for distribution. 

    Abubakar Garima, IPMAN’s National President, made the announcement in Abuja after a meeting with the Association’s National Working Committee.

    The partnership aims to guarantee a consistent and affordable supply of petrol, kerosene, and diesel across the country. 

    Garima shared that following discussions with Aliko Dangote and his team in Lagos, Dangote Refinery will provide IPMAN with products directly for its depots and retail outlets.

    Garima encouraged members of IPMAN to support Dangote Refinery, highlighting the benefits of using local refineries, which will create jobs and boost the nation’s foreign exchange. 

    He also expressed confidence that the partnership would lead to competitive pricing.

    Regarding the shift to Compressed Natural Gas (CNG), Garima mentioned that IPMAN is preparing for the establishment of CNG refueling stations across Nigeria. 

    He emphasized the potential economic benefits of CNG and reaffirmed IPMAN’s commitment to working with the Federal Government to ensure the success of the transition.

    This partnership between IPMAN and Dangote Refinery is set to improve the efficiency and affordability of Nigeria’s petroleum sector while fostering economic growth.

  • It is cheaper to import petrol than buy from Dangote refinery – IPMAN chieftain

    It is cheaper to import petrol than buy from Dangote refinery – IPMAN chieftain

    Yakubu Suleiman, the National Assistant Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has disclosed that buying petrol is cheaper when they import than buying from Dangote Refinery.

    He recounted that as at last week, the local refinery was selling PMS at a bulk price of N995/Litre.

    Suleiman said this during an interview session he had with Arise Tv, on Friday, November 1.

    He said: “Dangote’s price is higher than other places. As at last week, Dangote gives at N995/litre and you have to bring your cargo to load.

    “How much will you pay the cargo? How much will you pay other charges to your depot? We have to pity Nigerians.

    “The Independent Petroleum Marketers Association of Nigeria (IPMAN), are trying their best to salvage this country at this particular time when people are suffering.

    “So let us go for products that are cheaper that when we sell it to the people, the people appreciates. Most people don’t understand the whole dynamics that is going on at the moment.

    “So when we go and buy the higher price we come and sell it as higher as what people are not expecting and they’ll start calling ‘IPMAN’. We are tired.

    “If people understand the dynamics they will have praised IPMAN, because we are truly patriotic to Nigerians.”

  • Dangote Refinery counters IPMAN on challenges faced loading its petrol

    Dangote Refinery counters IPMAN on challenges faced loading its petrol

    The Dangote Petroleum Refinery has said that it is misleading to suggest that the Independent Petroleum Marketers Association of Nigeria (IPMAN) are experiencing difficulties loading refined products from its refinery.

    The company’s statement signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, on Thursday, was in response to a claim by IPMAN on Wednesday that its members can’t load petrol from the Dangote Refinery in Lagos despite having paid ₦40bn to the Nigerian National Petroleum Company Limited (NNPCL).

    IPMAN President Abubakar Garima, who stated this on Channels Television’s Sunrise Daily programme, expressed surprise that Aliko Dangote, the owner of the $20bn refinery, said marketers were boycotting his refinery to buy imported petrol.

    However, the Dangote Refinery in its statement clarified that it has not received any payments from IPMAN to purchase refined petroleum products.

    It stated that although discussions are ongoing with IPMAN, “it is misleading to suggest that they (IPMAN Members) are experiencing difficulties loading refined products from our Petroleum Refinery, as we currently have no direct business dealings with them.”

    Consequently, the company said it cannot be held responsible for any payments made to other entities, as the payment in mention has been made through NNPCL, and not Dangote Refinery.It added that in the same vein, NNPCL has neither approved, nor authorised the company to release our Premium Motor Spirit (PMS) to IPMAN.

    While emphasizing that it can meet Nigeria’s demand for all petroleum products, Dangote Refinery advised IPMAN to register directly with the company and make payments for petroleum products.

    “We would like to emphasise that we can meet the nation’s demand for all petroleum products, including petrol, diesel, and aviation fuel.

    At present, we can load 2,900 trucks per day and we have also been evacuating petroleum products by sea.

    We advise IPMAN to register with us and make direct payment as we have more than enough petroleum products to satisfy the needs of their members.

    “Furthermore, we believe it is instructive for all stakeholders to refrain from making unfounded statements in the media, as that could undermine the economic re-engineering efforts of His Excellency, President Bola Ahmed Tinubu.

    Conducting business through public speculation is counterproductive and unpatriotic.

    “In the interest of our country, we encourage all stakeholders to collaborate and heed the advice of President Tinubu, while promoting a unified approach, rather than engaging in media conflicts and needless propaganda,” the statement read in part.

  • Senate Reconstitutes Ad-hoc Committee to Probe Economic Sabotage in Petroleum Industry

    Senate Reconstitutes Ad-hoc Committee to Probe Economic Sabotage in Petroleum Industry

    The Senate has reconstituted its Ad hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry contrary to reports that some stakeholders were working to stop the oil probe.

    The upper chamber also communicated the decision to reconstitute to the House of Representatives with a view to conducting a more holistic investigation that would sanitise the petroleum industry.

    At a session presided by the Deputy President, Senator Barau Jubrin, announced these decisions yesterday after the Leader of the Senate/Chairman of the Ad-hoc Committee, Senator Opeyemi Bamidele sponsored a motion on the need for the two chambers to jointly conduct the oil probe.

    In his motion yesterday, Bamidele observed that the House of Representatives had debated on the same subject and also constituted its ad-hoc committee to investigate it.

    He observed that there “is need for the Ad-hoc Committees of the two chambers to work together to avoid duplication in the discharge of their constitutional responsibilities.”

    He further called for the committee to be reconstituted and be named as “National Assembly Joint Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry”.

    After Bamidele’s presentation, the Senate recaptioned the title to “National Assembly Joint Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry”.

    The upper chamber also resolved “to communicate its decision to the House of Representatives for the purpose of constituting the equal number of an ad-hoc committee that will working with the Senate.”

    While Senator Opeyemi Bamidele will still chair the National Assembly Joint Ad-hoc Committee to Investigate Alleged Economic Sabotage, its members include Senator Asuquo Ekpenyong, Senator Yahaya Abdullahi; Senator Mohammed Monguno and Senator Solomon Olamilekan.

    Other members include: Senator Plang Diket, Senator Ipalibo Banigo; Senator Khabeeb Mustapha; Senator Adams Oshiomhole; Senator Williams Eteng Jonah; Senator Adetokunbo Abiru; Senator Osita Izunaso; Senator Sahabi Ya’u; Senator Ahmed Abdul Ningi and Senator Suleiman A. Kawu.

    The lawmakers agreed further that the resolution of the Senate be communicated to the House of Representatives, following which the Joint Ad-hoc Committee will be inaugurated by the presiding officers of both chamber

    The Senate had on Wednesday, 3rd July 2024 debated a motion on the urgent need to investigate the Importation of Hazardous Petroleum Products and Dumping of Substandard Diesel into Nigeria moved by Sen. Asuquo Ekpenyong (Cross River North).

    The Senate had on Thursday, 11th July 2024 recaptioned the title of the Ad-hoc Committee to Ad-hoc Committee to Investigate Alleged Economic Sabotage in the Nigerian Petroleum Industry.

    After holding meetings with key stakeholders in the petroleum sector, the Bamidele Committee put its activities on hold with conducting a joint session with the lower chamber and providing workable antidotes to a myriad of challenges in the industry.

  • FG to supply Dangote Refinery 12m barrels of crude in October

    The Federal Government and Dangote Refinery have finalized an agreement for the supply of 12 million barrels of crude oil to the facility in October.
    Aliko Dangote, the chief executive officer of Dangote Refinery, confirmed this information during an interview with Bloomberg TV in the United States.
    He stated that the crude oil supply is a component of an ongoing agreement with the federal government, aimed at allowing the refinery to process crude domestically and produce petrol, diesel, and jet fuel for the local market.
    This arrangement is part of the “Crude Oil for Naira” initiative, which represents a strategic collaboration between the Dangote Group and the Nigerian government.
    “We are working towards a solid agreement with the federal government that ensures energy security for the country. This means no more fuel queues,” Dangote stated.
    “The government has committed to providing us with crude oil, and in October, they will deliver 12 million barrels, which translates to roughly 390,000 barrels a day. We will refine this crude to produce gasoline, diesel, and aviation fuel for the local market. Any surplus will be exported.”
    Dangote further noted that it will help bring 50 to 60 per cent of currently non-operational filling stations back into service, drastically improving access to fuel across the country.
    “The deal with the government ensures that we sell the refined products to all marketers, which will mean the reopening of 50 per cent to 60 per cent of our petrol stations that have been idle. This will also reduce the costs tied to having ships floating off the coasts of Lomé and elsewhere. In terms of demurrage alone, we are looking at saving over $1 billion,” Dangote added
  • Wale Edun flags off Commencement Fuel Lifting from Dangote Refinery

    Wale Edun flags off Commencement Fuel Lifting from Dangote Refinery

    History was made this afternoon, Sunday, September 15, 2024 as the the Nigerian National Petroleum Company Ltd (NNPCL) commences lifting of fuel from the Dangote Refinery.

    Flagging off the epoch making exercise, Finance Minister and Coordinating Minister of the Economy, Wale Edun thanked Alhaji Aliko Dangote for the initiative that positions Nigeria for the attainment of energy efficiency.

    Nigeria, a prominent member of the OPEC is currently going through crippling fuel supply emergency running into weeks.

     

     

     

  • Still on the Dangote Refinery ‘Clearer Fuel’

    Still on the Dangote Refinery ‘Clearer Fuel’

    President of Dangote Group, Alhaji Aliko Dangote, has shed light on why the first batch of Premium Motor Spirit (PMS), commonly known as petrol, produced at his refinery appears noticeably clearer than the petrol currently available in the market.
    During a broadcast from his refinery in the Ibeju-Lekki area of Lagos State, Dangote explained that the clarity of this petrol is indicative of its higher environmental standards.
    He emphasized that the cleaner petrol is designed to be more eco-friendly, potentially reducing health risks associated with the pollutants found in traditional petroleum products.
    Dangote also highlighted the benefits of this refined petrol in protecting vehicle engines from the damage typically caused by the lower-quality petrol available on the market.
    “This is the sample of the petrol. You see it as a different colour but that is the real deal. You are now going to have a good and real product,” Dangote stated.
    Speaking about the diesel produced at the refinery, Dangote added, “I am sure Nigerians have not seen this colour of diesel before.
    “This is called Euro-5 diesel. It contains less than 10 parts per million (PPM) of sulfur. This will help vehicles, engines, and generators last longer.”
    He further emphasized the importance of this development for public health and environmental safety, stating, “The health of the people and the environment will not be compromised. This is the real deal.”
  • Dangote Refinery: End of fuel queues

    Dangote Refinery: End of fuel queues

    For the first time in 28 years, Dangote Refining and Petrochemical Company commences the production of fuel in Nigeria.

    “This marks the end of fuel scarcity and fuel queues in Nigeria” Alhaji Aliko Dangote, the President of Dangote Refining and Petrochemical Company said.

    “No more foreign exchange woes to import fuel,” he said.

    Seeing, it is claimed in Nigeria, is believing and Alhaji Aliko Dangote has demonstrated that axiom as he lifted a sample of petrol produced in his factory today, at Ibeju Lekky, Lagos.

    “I hope the attainment of this milestone by the refinery will change the dynamics not only in Nigeria but the entire sub-saharan Africa” an elated Dangote said.

    He drew attention to the unique crystal clear colour of the product and said that it represents “the highest quality which is friendly with car engines and meets the best international standards.”

    He appreciated President Tinubu for the support of his government which has enabled the commencement of the refining activities in the factory.

    With this major breakthrough the Dangote Refinery has broken the jinx about petrol refining in Nigeria which happened for the last time 28 years ago.

    Dangote also posited that with the commencement of this operation, the refinery had assisted Nigeria to kill several birds with one stone.

    Linking it to the leadership of the country, he said the refinery now has an opportunity to produce energy for growth and productivity.

    Hopes that the move will stabilise the Naira, reduce inflation and improve the quality of life.

    He asserted also that there will be no more import of polypropylene.

    Also appreciated the government for the opportunity to purchase crude in Naira.

     

  • Petroleum industry probe: House Speaker appoints more members

    Petroleum industry probe: House Speaker appoints more members

     

    Apparently determined to get it right this time, House of Representatives Speaker, Tajuddeen Abbas, PhD, has appointed more hands to beef up the Joint Senate/House Committee  investigating economic sabotage within the petroleum industry.
    Akin Rotimi Jr., House of Representatives Spokesman made this known in a statement on Friday in Abuja.
    Leading the pack of new additions is Hon. Prof. Julius Inhovbere (Co-Chairman/House Leader).
    The other members include;  Hon. Iduma Ighariwey, Hon. Gboyega N. Isiaka Hon. Sada Soli, Hon. Fatima Talba, Hon. Tunji Raheem, Hon. Patrick Umoh, PhD.
    In the statement it was added:
    “The urgency and importance of this matter have necessitated close collaboration between the Senate and the House of Representatives.
    “This new structure aims to ensure synergy, a holistic approach to addressing the issues, and ease of administrative coordination, resulting in a harmonized and efficient investigation.
    “The Committee is expected to commence its duties immediately, with a clear mandate to ensure accountability and transparency in the sector,”.