'Don't mislead Nigerians' - Dangote denies selling fuel to NNPCL at N898 per liter

 

Dangote Refinery has denied selling fuel to NNPC at N898 per liter, calling the statement "both misleading and mischievous, deliberately" . According to Anthony Chiejina, Group Chief Branding and Communications Officer at Dangote Refinery, the claim was aimed at undermining the milestone achievement of addressing energy insufficiency and insecurity in Nigeria .

It's worth noting that the NNPC began loading PMS from the Dangote Refinery on September 15, 2024, after months of delays due to pricing and other business details . The refinery's spokesperson clarified that they sold the products to NNPC in dollars, resulting in significant savings compared to importing .

Chiejina urged Nigerians to disregard the malicious statement and await a formal announcement on pricing by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by President Bola Ahmed Tinubu, which will commence on October 1, 2024 .

Nigeria's Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has hailed the commencement of petroleum lifting from the Dangote Petroleum Refinery and Petrochemicals as a major milestone, marking the country's return to industrialization and local refining. He described the event as "epoch-making" and a renewal of Nigerians hope in industrialization and local refining, noting that it represents a return to what Nigeria once had - local refining and local supply of petroleum products in the Nigerian market .

Edun, who led the government delegation to the refinery, emphasized that this initiative will ensure energy self-sufficiency and security in Nigeria. With the product's availability to Nigerians, he expects perennial scarcity and long queues to become a thing of the past. This development is a significant step towards Nigeria's industrialization and energy security.

As the Minister of Finance and Coordinating Minister of the Economy, Wale Edun brings a wealth of experience to the table. With a background in economics and investment banking, Edun has held various key positions, including Commissioner for Finance in Lagos State and Chairman of Chapel Hill Denham Group . His leadership and expertise are crucial in driving Nigeria's economic growth and development.

The Dangote Refinery, one of Africa's largest, has the capacity to process 650,000 barrels of crude oil per day . This project is expected to significantly reduce Nigeria's reliance on imported fuel and boost the country's economy.

According to Adedapo Segun, Executive Vice President of Downstream, NNPC, the lifting of petrol from the refinery was scheduled to start on September 15 . The NNPC has nearly a thousand filling stations nationwide and is working with marketers to ensure adequate fuel supply to meet the needs of Nigerians.

This development is a testament to the government's efforts to address the country's energy challenges and promote local content. The refinery's operations are expected to create jobs, stimulate economic growth, and reduce the pressure on foreign exchange .

Overall, this is a positive step towards Nigeria's industrialization and energy security, and we can expect more updates on the refinery's progress in the coming days!