Dangote refinery will address supply shortages, price hikes – IPMAN

*Calls for revival of all moribund refineries in Nigeria The new Dangote refinery will address issues of fuel shortages and price hikes in the country, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has said. Chairman of IPMAN, Enugu Community depot in charge of Anambra, Ebonyi and Enugu states, said in an interview that the 18.5 billion dollar Dangote refinery, with 650, 000 barrel production capacity which was inaugurated by President Muhammadu Buhari on Monday, will go a long way in repositioning the country’s economy.. Anyaso however envisaged an initial increase in fuel pump price, but said it would decrease in the long run. “They will buy locally, refine and sell locally and we will no longer need forex to import products but rather, it will sell refined products and earn us forex. “It is a welcome development,” he said. The IPMAN chairman urged the Federal Government to revive its four refineries and optimise their production to support what Dangote would produce, to ensure full sufficiency of the products. He thanked the President Muhammadu Buhari administration for signing the Petroleum Industry Act (PIA) which encouraged private sector investment in the oil and gas industry. Anyaso cautioned against monopoly, saying it would leave Nigerians worse off if left at the mercy of one supplier. “We need more players to come in because the market is there, so there should be competition; the Federal Government should ensure a monopoly is not created. “The PIA which this administration graciously signed encourages private sector involvement, people who have the capacity should be encouraged to follow the Dangote example,” he added. Anyaso called for revitalisation and operationalisation of all moribund depots, including that of Enugu for easy distribution of petroleum products. He said this would reduce the challenges of sourcing products and drive down prices.
Dangote promises constant availability of high-quality fuels

Africa’s richest man, Alhaji Aliko Dangote, has promised to constantly make available high-quality fuels for Nigeria’s transportation sector. Speaking at the commissioning of the Dangote Petroleum Refinery & Petrochemicals on Monday, Dangote explained the drive behind the Group’s corporate vision. “Beyond today’s ceremony, our first goal is to ramp up production of the various products to ensure that within this year, we are able to fully satisfy the nation’s demand for quality products. “There will be constant availability of high-quality fuels for our transportation sector, the refinery will also make available to our industries vital raw materials for wide range of manufacturing. “Our Group’s corporate vision is driven by our mission to produce what we consume and to promote self-sufficiency in the basic needs of our people. “We decided on a plant designed with state-of-the-art technology and a scale in a capacity that will be a game-changer in Africa and the global market. “We have built a refinery with a capacity to process 650k barrels per day in a single train – which is the largest in the world. We have selected the best plants, equipment and the latest technologies from across the world. “Overall, we are committed to operating our plant in line with int’l best practice, recognising the importance of protecting the environment, we have adopted stringent environmental, health & safety policies,” he said at the ongoing epoch-making event. Nigerian Anchor reports that five presidents, including: President Gnassingbé Eyadéma of Togo; President Nana Akufo-Addo of Ghana, President Macky Sall of Senegal, President Mohamed Bazoum of Nigeria Republic, and President Mahamat Déby of Chad are in Nigeria for the big occasion. President Paul Kagame of Rwanda, who will not be physically present, will, however, present his goodwill message virtually. The petroleum refinery, with a capacity to process 650,000 barrels per day (bpd), is sitting on 2,635 hectares of land located in Dangote Industries Free Zone in Ibeju-Lekki, Lagos State, and will provide employment to over 100,000 persons. The coming on stream of the gigantic project is expected to mark Nigeria’s exit from the league of oil rich nations, but which are heavy importers of the petroleum products.
Dangote Refinery is Nigeria’s economy game changer- Buhari

*First Refined Petroleum Products to Hit Market End of July The new Dangote Refinery will mark a turning pointin Nigeria’s economic fortunes, President Muhammadu Buhari said Monday when inaugurating the Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, the largest petrochemical company in the world. The company is expected to make Nigeria self-sufficient in refined petroleum products and have a surplus for export. Speaking at the inauguration ceremony, the president described the feat as a significant milestone for Nigeria’s economy and a game changer for the downstream petroleum products market in Africa. The event was attended by Heads of State of Ghana, Togo, Niger and Senegal and a representative of the President of Chad. Buhari said: “This mega industry we are commissioning today is a clear example of what can be achieved when entrepreneurs are encouraged and supported and when an enabling environment is created for investments and for businesses to thrive. ‘‘I am confident that my successor, His Excellency Asiwaju Bola Ahmed Tinubu will sustain the improvement in our economic and business environment and strengthen the framework of our public-private partnership policies to accelerate the pace of our economic growth and development. ‘‘I am happy to leave our economy in very competent hands.’’ The president, who commended Alhaji Aliko Dangote’s leadership in executing the 650,000 barrels per day refinery, urged other entrepreneurs to emulate his example in driving economic growth and realizing Nigeria’s economic potential. He stressed the need for African countries to come together, integrate their economies, eliminate trade barriers, and rally their populations to achieve Agenda 2063, for the continent’s prosperity. ‘‘I urge and encourage our other great entrepreneurs to emulate this iconic Nigerian industrialist and join the Government in accelerating our growth in order to realize our country’s globally recognized economic potential. ‘‘When I travel around Africa and meet and engage my brother Heads of State (and I am delighted some of their Excellences are here) I often sense a quiet expectation that our country is blessed with resources and human capacity to lead Africa’s rise to economic prosperity and the attainment of Agenda 2063 – ‘The Africa we all want.’ ‘‘But to achieve the goals of Agenda 2063, Africa must come together – we must integrate our economies, eliminate barriers to trade and energize our youthful population to scale up our production capacity. ‘‘We must create necessary conditions for our private sector to grow and partner with the public sector to accelerate economic growth across the continent. ‘‘We must not allow outside powers to use some of our leaders to destabilize our economic and political trajectory,’’ he said. Buhari acknowledged the visionary investments made by the Dangote Group in transforming Nigeria’s economy through involvement in critical industries such as cement and fertilizer. He noted that investment in these sectors had played a crucial role in shifting Nigeria from heavy import dependence to becoming a net exporter. The president acknowledged that Nigeria’s economy has faced significant challenges over the years, including deficits in economic infrastructure and insurgency. He added that the country also faced external crises such as the global financial crisis, collapse of oil prices, massive disruptions caused by COVID-19 pandemic, and the Russia-Ukraine war. ‘‘The consequence of these challenges constitute a severe strain on our economy, limiting Government’s ability to provide basic infrastructure without resorting to huge borrowings. ‘‘Our Government, therefore, took the decision to focus attention on creating an enabling environment for the private sector to thrive and fill the enormous gap in investments not only in infrastructure but also in all critical sectors. ‘‘We recognize that without the active participation of the private sector and a strong commitment to public private partnership, our economy would continue to remain severely challenged and our economic growth impeded. ‘‘Government therefore, will and should continue to provide an enabling environment and encourage innovative public private partnerships in all sectors of our economy,’’ he said. Buhari emphasized the administration’s commitment to this approach, citing Executive Order 007 of 2019 which facilitated the rehabilitation and construction of many roads by private sector investors using a Tax-credit scheme. ‘‘It is my hope that the succeeding Administration will continue to apply such innovative schemes in partnership with the private sector to accelerate the provision of critical infrastructure, in particular roads, power, and gas pipelines,’’ he said. In his remark, Dangote said that the refinery fulfills the group’s corporate vision of promoting self-sufficiency and global competitiveness. ”We have built a Refinery with a capacity to process 650,000 barrels per day (plus 900,000 tonnes of polypropylene) in a single train – which is the largest in the world. We have selected the best plants and equipment and the latest technologies from across the world. ”Our products slate is designed to meet the highest quality standards and high-value products including Premium Motor Spirit (PMS), Automotive Gas Oil (Diesel), Aviation Turbine Kerosine (ATK); all of Euro V Standards that will enable us not only meet our Country’s demand but also to become a key player in the African and global market. ”Our coastal location and offshore loading and offloading (SPM) facilities with a capacity to receive all our crude oil supplies and evacuate up to 75% of our liquid products give us direct access to the rest of Africa and the global market for exports. “In addition, 80 percent of our production can be discharged through trucks nationwide.” He disclosed that the huge investment of over $18.5 billion in the industry was prompted by the company’s desire to support and contribute to transforming Nigeria’s economy and reposition the country as a respected emerging economy in the world. According to him, apart from ensuring consistent supply of high-quality fuels for the transportation sector, the refinery will provide essential raw materials to a wide range of manufacturing sectors, including plastics, pharmaceuticals, food and beverages, packaging, construction, and more. He further stated that the refinery’s operation and related businesses would generate a substantial number of job opportunities. He stated that the downstream supply and distribution of its products would
Petrol price drops slightly to N254 per litre in April 2023 – NBS

The average retail price of a litre of petrol witnessed a drop from N264.29 in March to N254.06 in April 2023, the National Bureau of Statistics (NBS) has said. This is according to the NBS Petrol Price Watch released in Abuja on Friday. It stated that the April 2023 price of N254.06 represented a 3. 87 percent decrease over the price of N264.29 recorded in March 2023. However, the average retail price of a litre of petrol increased on a year-on-year basis from N172.61 recorded in April 2022 to N254.06 in April 2023. It stated that the April 2023 price of N254.06 represented a 47.18 percent increase over the price of N172.61 recorded in April 2022. “On state profiles analysis, Taraba paid the highest average retail price of N320.00 per litre, followed by Imo at N310.55 and Jigawa at N305.00. “Conversely, Sokoto paid the lowest average retail price of N195.00, followed by Benue at N198.13 and Kogi with N206.11,” it stated. Analysis by zone, the NBS said, showed that the South-East recorded the highest average retail price in April 2023 at N291.15, while the North-Central recorded the lowest at N208.88. The NBS also stated in its Diesel Price Watch Report for April 2023 that the average retail price paid by consumers increased by 28.69 per cent on a year-on-year basis. It explained that the retail price moved from a lower cost of N654.46 per litre recorded in April 2022 to a higher cost of N842.25 per litre in April 2023. “On a month-on-month basis, the price increased by 0.17 per cent from N840.81 per litre recorded in March 2023 to an average of N842.25 in April 2023,” it added. On state profiles analysis, the report said the highest average price of diesel in April 2023 was recorded in Adamawa at N980.33 per litre, followed by Bauchi at N934.46, and Borno at N900.50. On the other hand, the lowest price was recorded in Bayelsa at N708.04 per litre, followed by Kebbi at N773.33 and Anambra at N773.56. In addition, the analysis by zone showed that the North-East had the highest price at N895.42 per litre, while the South-South Zone recorded the lowest price at N807.59 per litre.
Troops destroy 38 illegal refineries, apprehend 29 oil thieves

Troops of Operation Delta Safe (OPDS) have destroyed 38 illegal refining sites and apprehended 29 suspected oil thieves in the last two weeks, the Defence Headquarters has said on Thursday. The Director, Defence Media Operation, Maj.-Gen. Musa Danmadami, who said this in Abuja at the bi-weekly news conference on the operations of the armed forces, said the troops conducted patrols, raids, anti-illegal oil refining and swap buggies operations at different locations within Bayelsa, Delta and Rivers states. He said this was aimed at denying oil theft and other criminal elements freedom of action. Danmadami said the troops, in the conduct of Operation Octopus Grip and other operations, discovered and destroyed illegal refining sites with 24 wooden boats, 169 storage tanks, 152 ovens and 19 dugout pits. According to him, the troops also recovered 551,500 litres of crude oil, 394,500 litres of Automotive Gas Oil (AGO), 16 vehicles, four motorcycles and one tricycle. Other items recovered were two pumping machines, one outboard engine, one generator, one speed boat, four weapons and 132 assorted ammunition, while 29 economic saboteurs were also arrested. “All recovered items and apprehended suspects have been handed over to the appropriate authority for further action. “Additionally, it is worthy to mention that the sum of N448.3 million were denied to the oil thieves. “Relatedly, the air component conducted a series of air operations within the joint area of operation. “Notably, an air interdiction was conducted at Abacheke general area, observed to be active with illegal oil bunkering activities. “Consequently, the target was struck, destroying all illegal refining equipment at the location,” he added. In the South-East, Danmadami said the troops of Operation UDO KA had sustained an offensive against the outlawed Indigenous People of Biafra/Eastern Security Network and other criminal activities in the zone. He said the operational activities resulted in killing of two terrorists, arrest of seven suspected terrorists and rescue of four kidnapped victims within the period under review.
NNPCL nabs 6 suspected crude oil thieves, destroys barge

The Nigerian National Petroleum Company Limited (NNPCL) has intercepted an illegal Crude Oil Barge and arrested six suspected crude thieves in Warri, Delta State. Tantita Security Services Nigeria Limited, a private security contractor, engaged by NNPCL made the arrests. Speaking, Captain Warredi Enisuoh, Executive Director, Operations and Technical of the Security firm said MAWE Services had approval from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to provide services within the confines of lifting sludge. The security contractor and the Nigerian Security Operatives also set ablaze the 1,000 metric tonnes capacity barge at a final execution point in Oteghele, Delta state. The barge was destroyed shortly after an inspection of the sites of Mawe Service Limited and associated barge with illegal crude oil. On the inspection were some officials of NNPC Ltd. and Tantita Security Services, Journalists, the Nigerian Army and Naval officers, among others. The team visited the Mawe Services Jetty, illegal crude oil dump site and Fenog Jetty for Illegal Crude Oil Barge inspection. Enisuoh said on the fateful voyage, intelligence reports received by Tantita Security Services Nigeria Ltd and Mason Engineering indicated that the MAWE Yard was being used for activities outside its approval limits. He said surveillance and intelligence also revealed that a 1000 metric tonnes capacity barge (FP AMANGWU) was coming to berth alongside its jetty, loaded with illegal crude oil declared as sludge. The captain explained that the barge was towed by an unknown Tugboat into Mawe Services Limited’s Jetty and left. “A team of Tantita Security Services Operatives continued to monitor the Jetty for suspicious activities. It was observed that a Sewage Truck with Plate No. JR7750XA visited the Jetty twice. “During its third visit on May 12, 2023, the Truck was accosted by the Tantita Security Operatives keeping constant vigil over the area. Upon inspection, the substance found inside the tank was not sewage, rather, crude oil. “The driver was arrested and handed over to government security operatives. “The driver later revealed the destination of the contents, which took us to another yard inland, also operated by Mawe Services Limited. “Within the Mawe Services Limited’s premises, there were two metallic cylindrical tanks of about 45,000 liters capacity, each. “Both tanks were inspected and one was found to be filled up with Crude Oil,”. He said the driver of the Truck confirmed that he had been transferring the contents of the barge into the tank that was filled. He said that an inspection of the Yard Security Logbook showed that the Truck visited the location severally while the contents of the Truck were well spelled out as “CRUDE OIL”. He explained that the perpetrators usually loaded the crude from the big barge in small gallons, batch by batch then transfer to illegal refineries. “One new method they use now is that they obtain documentation and authorization from the government to fool security agencies, then go on to do other illegal jobs,” the captain said. The captain further explained that most times when the suspects were being arrested, they would claim to be newly employed by their companies whereas they were already trained to operate in that line. “At the same time I feel sad because the big players always hide behind them while the small errand boys are literally the victims. “I believe the law enforcement agents will get to the root of the matter,” he said. He said that part of the crude had been evacuated while the rest would go through combustion process. Meanwhile, the suspects who were paraded by the combined security team, said they were not aware of any illegal badge of crude oil but were sent by their companies to evacuate waste water with oil from the barge. Mr Daniel Dickson, one of the suspects working with First Priority Research Resources International Ltd, the owner of the barge said the barge was hired through Petralon 54, located at Port Harcourt, Rivers State, to cargo crude from Port Harcourt to Warri in 2022. Dickson, who said that it was not all the compartments in the barge that contained crude said that it had about 700 barrels of crude oil but in the process of evacuation in May 2023, the security agents caught them.