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Dangote Refinery exports petroleum products to ten countries

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By Kayode Sanni-Arewa

The United States of America, Spain, France, South Korea, Angola, Togo, Guinea, Belgium, Israel, and Singapore, have been listed as the top 10 importers of petroleum products from Nigeria’s $20 billion Dangote Refinery.

This is even as students across tertiary institutions in the country under the aegis of the National Association of Nigerian Students, NANS, have passed a vote of confidence on the Dangote Refinery.

However, the products that have been shipped to the countries at different times include fuel oil, gasoline, jet fuel and Naphtha, thus attracting additional foreign exchange to the nation.

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In its presentation – Nigeria’s Dangote Refinery – What it Means for Trade Flows and Price Benchmarks, at a recent virtual event, obtained by Vanguard, Argus Group, United Kingdom, disclosed that the refinery has changed the direction of petroleum products trade flows between West Africa and other regions while creating many multiplier effects, including jobs.

Nigeria’s fuel importation to drop 60% to 160,000 bpd
It noted that as a result of the coming onstream of the refinery, Nigeria’s petrol importation has been projected to drop by 60 per cent to the equivalent of 160,000 barrels per day, b/d by 2025, from 400,000 b/d in 2023.

The forecast has it that Nigeria would need to import only 75,000 b/d in 2025 compared to 350,000 b/d in 2023, adding that from 2026, it will start to import more following the expected population growth and rising domestic demand.

According to Argus Group, the nation is also expected to start exporting diesel and aviation fuel from 2025, thus enhancing the inflow of additional foreign exchange into Nigeria.

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It stated: “After years of anticipation, Nigeria’s 650,000 b/d Dangote refinery has been ramping up operations since the start of 2024, including loading regular refined product cargoes.

“The scale of the refining operation, in a region that has produced a lot of crude historically but refined little of it, will change global product trade flows and require new price benchmarking solutions for the West African market.

”Nigeria will go from an almost 400,000 b/d net import (short) position in 2023 to 160,000 b/d net export (long) position in 2025.

“Gasoline remains short, but the country will need to import just 75,000 b/d in 2025 compared to 350,000 b/d in 2023. From 2026 onwards net gasoline short however will start growing again and by 2040 it is forecast to be 220,000 b/d.

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“Diesel flips from short to long, with the country able to export 130,000 b/d in 2025, and maintaining exports of above 100,000 b/d throughout the forecast period. Jet-kerosine surplus of around 20,000 – 30,000 b/d for most of the forecast period. But overall, by 2035, due to forecast strong demand growth, Nigeria’s total net export position is eroded, and by 2040, is 120,000 b/d net short.”

Sector gasps for continuous investment
The organization harped on the need for continuous investment in the midstream and downstream sectors, adding “West Africa’s net import position more than halves in 2025 but net short grows again from 2026 onwards and out to 2040.

”But the net import position will start rising again as soon as 2026, and then steadily increase out to 2040 at 1 million b/d, with gasoline 500,000 b/d short, diesel 300,000 b/d and jet 100,000 b/d. Dangote refinery timeline.”

NANS backs Dangote
On its part, speaking after a tour of the Refinery, NANS Senate President, Akinteye Babatunde Afiz, said: “We had a meeting on the situation in the country vis a vis the uncertainty in the oil and gas industry, especially the current fuel scarcity and we resolved to visit Dangote refinery to see things for ourselves.

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“Having gone round the facility, our heart melted at the humongous size of the refinery.

“We have seen the refinery laboratory and we could see that it is world-class. We can’t allow this type of project that holds great potential for Nigeria’s economy to go down.”

Also, the Vice-President, Dangote Industries Limited, Devakumar Edwin while welcoming the student leaders to the Refinery thanked them for their concern for the facility and their resolve to stand for the truth by rejecting the monetary inducement.

He told the students that President Tinubu had intervened and commended the President for the directive for crude to be sold to Dangote Refinery in Naira currency, saying it is a good development for all Nigerians.”

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We receive repeated orders — Magt
President of Dangote Group, Aliko Dangote, had revealed that Dangote Petroleum Refinery has continued to receive repeated orders for its products from all those who have purchased the same since the commencement of production. The refinery has so far exported its products to some European countries, Singapore and offshore Lome.

Speaking during a tour of both Dangote Petroleum Refinery & Petrochemicals and the Dangote Fertiliser Limited complex by members of the House of Representatives, Dangote, said: ”We produce the best diesel in Nigeria. It is disheartening that instead of safeguarding the market, the regulator is undermining it.

“Our doors are open for the regulator to conduct tests on our products anytime; transparency is paramount to us. It would be beneficial for the regulator to showcase its laboratory to the world so Nigerians can compare. Our interest is Nigeria first because if Nigeria doesn’t grow, we have limited capacity for growth.”

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List: FG endorses 33 more universities

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The Federal Government has endorsed 33 new universities across Nigeria, increasing the total number of universities in the country to 309.

The approvals include seven federal universities, six state-owned universities and 20 private universities.

The seven new federal universities are the Federal University of Environment and Technology, Tai, Rivers State; Federal University of Applied Sciences, Kachia, Kaduna State; Tai Solarin Federal University of Education, Ijagun, Ogun State; Federal University of Agriculture and Developmental Studies, Iragbiji, Osun State; Federal University of Technology and Environmental Studies, Iyin-Ekiti, Ekiti State; Federal University of Agriculture and Technology, Okeho, Oyo State; and the Federal University of Health Science and Technology, Tsafe, Zamfara State.

The six new state universities are Abdulsalam Abubakar University of Agriculture and Climate Action, Mokwa, Niger State; Ebonyi State University of ICT, Science and Technology, Oferekpe, Ebonyi State; University of Aeronautics and Aerospace Engineering, Ezza, Ebonyi State; Benue State University of Agriculture, Science and Technology, Ihugh; Cross River University of Education and Entrepreneurship, Akamkpa, Cross River State; and the University of Innovation, Science and Technology, Omuma, Imo State.

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The approvals also include 20 private universities.

Among them are Omega University in Delta State, Regnum Medical University in Lagos State, Transatlantic University of Medicine and Health Sciences in Anambra State, City University in Ogun State, University of Fortune in Ondo State, Eranova University in the Federal Capital Territory, Minaret University in Osun State, Abdulrasaq Abubakar Toyin University in Kwara State, Southern Atlantic University in Akwa Ibom State, Lens University in Kwara State, Monarch University in Ogun State, Tonnie Iredia University of Communication in Edo State, Isaac Balami University of Aeronautics and Management in Lagos State, Kevin Eze University in Enugu State, Bridget University in Imo State, Leadership University in Abuja, Jimoh Babalola University in Kwara State, Greenland University, JEFAP University in Niger State, Azione Verde University in Imo State and Unique Open University in Lagos State.

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FG bars MDAs from awarding contracts without warrants

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Disturbed by the manner Ministries, Departments and Agencies of Government, MDAs flagrantly spend money without adequately aligning with Revised Bottom-Up-Cash Management Policy Framework, to this end, the Federal Government welded the big stick by barring MDAs from awarding contracts without warrants.

Ministry of Finance in a circular has ordered that due process must be followed or heavy sanctions awaits such government bodies.

In a circular signed by the Minister of Finance, Taiwo Oyedele in a sighted by this medium, it was expressly stated that :”The revision of this policy will further ensure that MDAs comply with statutory and regulatory provisions governing public financial management”.

In the memo it was also stated that “It should be noted that Accounting Officers who contravene this policy shall be personally liable for any resultant commitments, in accordance with the provisions of • Financial Regulation 310 (Personal Responsibility for Expenditure • Public Service Rules 030402 (Serious Misconduct • Fiscal Responsibility Act Section 48 (Offences and Penalties – Independent Corrupt Practices and Other Related Offences Act (ICPC Section 22 Sub-sections 4.

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Under the new framework, no MDA is permitted to issue letters of award, sign contracts or enter into financial obligations unless the corresponding Warrant or Authority to Incur Expenditure covering the full or committed portion of the contract sum has been duly released by the Honourable Minister of Finance and Coordinating Minister of the Economy to the Accountant General of the Federation.

The circular also makes it clear that budgetary allocations alone do not constitute legal authority to spend public funds.

According to the directive, “Estimates in the Appropriation Act or budgetary provisions do not confer automatic spending authority. Only duly released Warrants/AIE issued by the Honourable Minister of Finance and Coordinating Minister of the Economy in line with Financial Regulation 301 confer legal authority to incur expenditure.”

The policy cites Financial Regulation 415, Section 22 of the Fiscal Responsibility Act, 2007, Section 16(1)(b) of the Public Procurement Act, 2007 and relevant provisions of the Independent Corrupt Practices and Other Related Offences Act as the legal basis for the revised framework.

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Government said the new measures are designed to align financial commitments with actual funds availability, strengthen expenditure controls and halt the growing accumulation of unfunded contractual liabilities arising from contracts awarded without the necessary financial backing.

The circular also introduces changes to the cash management process by abolishing the requirement for MDAs to submit monthly cash needs before the issuance of Warrants. Instead, Warrants will be issued based on approved budget implementation priorities and available Capital Development Fund balances.

In addition, all MDAs are required to prepare quarterly cash plans in line with their ministerial priorities and procurement plans for submission to the Office of the Accountant General of the Federation to improve cash flow forecasting and budget execution.

The Federal Government warned that Accounting Officers who disregard the directive would bear personal responsibility for any commitments arising from contracts awarded in violation of the policy.

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It stated that such officers would be held liable in accordance with the Financial Regulations, the Public Service Rules, the Fiscal Responsibility Act and other applicable laws governing public financial management.

The directive takes immediate effect and supersedes all previous instructions inconsistent with the revised framework. It also provides that all 2026 capital projects across Federal Ministries, Departments and Agencies shall be implemented in accordance with the new policy.

The government directed all Accounting Officers, Directors and Heads of Finance and Accounts, as well as Internal Audit Departments and Units across MDAs and other arms of government, to ensure strict compliance with the circular.

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Posterity will judge you well for devt of FCT -First Lady Remi Tinubu

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…Commends Wike’s Green Transformation of Abuja, Urges States to Engage Youth in Environmental Protection

First Lady of Nigeria, Senator Oluremi Tinubu has commended the Minister of the Federal Capital Territory (FCT), Nyesom Wike, for transforming Abuja’s City Gate into a major recreational and environmental landmark.

She was speaking during a ceremony to honour the FCT Administration for its environmental efforts which she said is in line with the just concluded category of the ongoing Green Nigeria Challenge of the Renewed Hope Initiative.

Senator Oluremi Tinubu said she was impressed by the transformation of the City Gate, describing it as “unbelievable.”

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She stated that despite a ₦50 million prize set aside under the Green Challenge to encourage states to reclaim abandoned spaces and dumpsites, no state entered for that category of the competition.

“It was a ₦50 million prize money and they didn’t enter. This was supposed to get our youth involved,” she said.

The First Lady explained that the initiative was designed to encourage states to convert neglected public spaces into clean and attractive environments.

“The transformation reflects the vision behind the just concluded Community Category of the Challenge which was designed to encourage youth groups to transform degraded public spaces, including dumpsites and abandoned areas, into green parks, gardens and other eco-friendly spaces. Our goal is to compliment government’s effort in beautifying our environment and promoting healthier communities towards improving the quality of life of our people.”

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“The remodeled Abuja City Gate is an excellent example of what abandoned public areas can become: a transformed key national landmark that warmly welcomes all Nigerians and visitors to our nation’s capital.”

“When I saw what he did with the City Gate, my God, unbelievable, unbelievable. I want to thank him. He’s done very well.”

“This was to turn around abandoned spaces, dumpsites, and we see a lot of it around the states.”

Senator Oluremi Tinubu also appealed to Wives of State Governors to mobilise the youth to participate in environmental clubs and sustainability initiatives in schools and tertiary institutions.

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“I’m using this opportunity to appeal to our First Ladies: Get our young children into the environmental clubs and environmental societies for our youth in tertiary institutions.”

“I remember when I was in the College of Education, I was a member of the Youth Environmental Programme for West Africa. We travelled from Nigeria throughout West Africa by road. It was a memorable experience for us.”

According to the First Lady Senator Oluremi Tinubu, young people must be encouraged to contribute to national development through environmental stewardship.

“We have to engage our young people and make sure that they can help build. Everybody has something to contribute to this country. It’s a great country and that’s why we are doing all we can.”

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In his remarks, the FCT Minister, Nyesom Wike revealed that the First Lady personally inspired the transformation of Abuja’s City Gate.

“The First Lady has to be commended for the FCT keying into the Renewed Hope Green Initiative because she has always said we have to change our environment and create opportunities where people can gather and relax.”

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