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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.
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.
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.
“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.
“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.”
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.”
News
BREAKING: Jubilation As PDP Wins All 30 LGs In Osun State(See winners)
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By Kayode Sanni-Arewa
The Osun State Independent Electoral Commission, OSSIEC, has announced that the Peoples Democratic Party, PDP, won all the local government and councillorship positions in the just concluded local government elections in the state.
The Chairman of the Commission, Hashim Abioye, made this announcement via a Facebook Live broadcast on Saturday evening.
Abioye stated that PDP candidates secured all the councillorship seats in all 332 wards in the state, as well as the chairmanship elections in all 30 local government council areas.
The names of the PDP chairmanship candidates and their respective local government council areas:
Babalola Wasiu Kayode – Boripe
Okunade Oluwafemi Adesanya – Egbedore
Adeyenuwo Rotimi John – Ife Central
Agboola Francis Olajire – Obokun
Azeez Lateef Adeniran – Isokan
Aina Abayomi Adesina – Boluwaduro
Sodiq Samuel Oluwapelumi – Ola Oluwa
Ajibade Oluwatoyin S. – Irepodun
Adebanjo Oladiti Tunmininu – Ilesa West
Ibironke Alade Adegboye – Atakumosa East
Aroke Muyiwa Aderemi – Ife South
Kolade Obafemi Kolawole – Olorunda
Moshood Adekunle Kabiru – Iwo
Awotunde Abiodun Sarafadeen – Ifelodun
Akande Taiwo Adekunle – Osogbo
Dada Feyisayo Ajibola – Atakumosa West
Amodu Taiwo – Ede North
Atolagbe Kayode Olayinka – Ifedayo
Akande Michael O. – Ife North
Adeyekun Taiwo Adebayo – Oriade
Adeniran Adenike Felicia – Ayedaade
Afolabi Oyekola Lukman – Ede South
Odunyemi Haruna Bukola – Ife East
Jooda Ambali Babajide – Irewole
Adewale Adeyinka Oluwaseun – Odo Otin
Ogunbiyi Solomon Akinyemi – Ayedire
Raimi Adenike Nafisat – Ejigbo
Adebisi Jayeola Nasir – Ila
Ilesanmi Taiwo Sunday – Ilesa East
Alade Aderemi Fatai – Orolu
News
DSS arrests three for assaulting operatives during LSHA crisis
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By Kayode Sanni-Arewa
The Department of State Services (DSS) has arrested three persons linked to the alleged assault on its officers during the crisis that rocked the Lagos State House of Assembly, following the removal Mudashiru Obasa, as Speaker
Apparently sensing danger, some lawmakers had mobilized their supporters to the Assembly Complex, but these supporters allegedly attacked some DSS officers who were invited by the Assembly leadership to secure the facility. Security sources revealed that “after extensive analysis of CCTV footage, we were able to clearly identify three of the suspects”.
“The suspects, Ibrahim Olanrewaju Abdulkareem, a photographer and two others attached to the Assembly’s Seargent at Arms, Adetu Adekunle Samsudeen and Adetola Oluwatosin Fatimoh, a lady, were consequently tracked and arrested during the week in different parts of Lagos,” The trio have since confessed to the crime and will soon be charged to court, the source said.
It would be recalled that the Lagos Assembly had in a leaked memo dated 14th February, 2025 and addressed to the DSS Director in the State, and Heads of other Security Agencies in Lagos State, told the Security Agencies in Lagos that, there was credible information to the effect that, Obasa had planned to forcefully reinstate himself today, February 18, 2025.
Accordingly, the Assembly management, held the view that, the development posed “a potential security threat” to it and its members.
News
Police seal OSSIEC office, officials nabbed, says chairman
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By Kayode Sanni-Arewa
The chairman of the Osun State Independent Electoral Commission (OSSIEC), Hashim Abioye, has claimed that the police have sealed off the headquarters in Osogbo.
In a video post on the OSSIEC X handle, Abioye accused the police of also arresting election officials and blocking journalists from covering the local government election.
According to him, several OSSIEC officials were detained while on their way to polling units on Saturday.
Attempts by our correspondent to reach Abioye for further details proved abortive as his telephone line was switched off.
The OSSIEC chair, in the post, assured voters that materials had been deployed to affected areas.
So far so good, the reports have been positive and the conduct has been very smooth and peaceful as against the false alarm raised by the police. Everywhere is calm,” Abioye said.
“The only thing is that in some of the areas in which materials are supposed to have arrived for voters to cast their votes, we had reports of police arresting our officials.
“I don’t know on whose order because there is no court order that warranted the arrest of officers of our officials.
“As it is, we have deployed materials to those units because we have enough on the ground.
For our people in the media community, I want to apologise for the inadequacy of the tags and the jackets because we have enough but the police sealed our office and that was not warranted at all.”
Abioye’s comments come after police had called for the local government election to be called off by the state government, citing a security threat.
In a statement by its Public Relations Officer, Olumuyiwa Adejobi, on Friday, the Police said it received credible intelligence indicating a likelihood of violence and significant security threats should the planned elections proceed.
The police explained that reports gathered from joint intelligence gathering revealed that various groups, including political elements and other interested parties, are mobilising to instigate unrest, disrupt public peace and undermine the democratic order.
However, the Osun State government acknowledged the police’s advice but insisted on going on with the election.
Channels Television reports that the election eventually went on as scheduled on Saturday.
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