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Again, Dangote Refineries complains over Naira – Crude oil initiative, slams NNPCL
The Federal Government’s initiative to sell crude priced in naira is losing momentum, the vice-president of Dangote Industries Limited, Edwin Devakumar, said in an interview with Reuters on Friday.
Early last month, Nigeria officially commenced the sales of crude oil and refined petroleum products in naira, with Dangote refinery focusing on local supply.
The refinery received four cargoes of crude oil from the NNPC under the naira-for-crude sale agreement a few weeks later.
However, according to Devakumar, the plant is still unable to secure adequate supplies despite the scheme.
“We need 650,000 barrels per day, (state oil firm NNPC Ltd) agreed to give a minimum of 385,000 bpd but they are not even delivering that,” he said.
He described the deliveries from Nigerian National Petroleum Company (NNPC) Limited under the scheme as “peanuts”.
Also commenting, an Acting Executive Director of the Crude Oil Refinery-owners Association of Nigeria (CORAN), Mathins Obaze, said Dangote is the only one of 8 operational refineries in Nigeria to have benefited from the naira-denominated crude sale arrangement.
“Members are still unable to access crude in naira and are currently engaging the government for a resolution,” Obaze said.
The 650,000 barrels per day capacity refinery was greeted by crude challenges when it began operations some months ago.
President of the Dangote Group, Alhaji Aliko Dangote, had cried out, saying some international oil companies were planning to sabotage the investment by refusing to supply crude.
The Dangote Group had alleged that the International Oil Companies (IOCs) insisted on selling crude oil to its refinery through their foreign agents.
According to the company, the local price of crude would continue to increase because the trading arms offered cargoes at $2 to $4 per barrel, above the official price.
The group also alleged that the foreign oil producers seem to be prioritising Asian countries in selling the crude they produce in Nigeria.
Despite the intervention of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in July, the group insisted that the IOCs were still frustrating the refinery. (Daily Trust)
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Just in: Tinubu exposes those behind deadly stampedes
President Bola Tinubu has accused organisers for the deadly stampedes that occurred during the distribution of relief materials in three states.
Recall in the past week, chaotic scenes in Ibadan, Anambra and Abuja led to the deaths of over 60 people, including children, as crowds scrambled for food items.
During a Presidential Media Chat on Monday, Tinubu described the events as a critical failure in planning and execution.
Condolences to those who lost a family member, but it is good to give. I have been giving out food stuff, commodities, etc. in Bourdillon.
“I am an organized person and that’s why I have been giving people food for the past 25 years and no incident has happened.
“Let this tragedy not affect us”, the Nigerian leader said.
The president also said he has no plans to reduce his cabinet or sack more ministers.
For the controversial tax reform bills, he said it has come to stay.
He also revealed he has no regrets removing fuel subsidy.
He declared utmost confidence in his security chiefs saying over the past decades, wanton killings has reduced drastically.
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Tinubu To Hold Maiden Presidential Media Chat Tonight
President Bola Tinubu will hold first presidential chat since assuming office on Monday night.
Accoding to a statement released by presidential spokesperson, Bayo Onanuga, the chat will be broadcast at 9 p.m. on the stations of Nigerian Television Authority (NTA) and Federal Radio Corporation of Nigeria (FRCN).
All television and radio stations are requested to hook up to the broadcast.
“The first Presidential Media Chat with President Bola Ahmed Tinubu will be broadcast at 9 p.m. on Monday, December 23, on the Nigerian Television Authority and Federal Radio Corporation of Nigeria.
“All television and radio stations are requested to hook up to the broadcast,” the statement.
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‘Putin waiting to meet me as soon as possible’ to end Ukraine war – Trump
The US President-elect took to the stage AmFest in Phoenix to talk about his contact with the Russian leader.
He told the crowd: “President Putin has said he want to meet with me as soon as possible.”
Trump went on to brand the war “horrible” and stated it needed to end. It is not known whether or not this meeting will take place in person. His comments at the event in the US come as Putin met with another world leader.
Putin held talks in the Kremlin today (December 22) with Slovakia’s prime minister, Robert Fico, in a rare visit to Moscow by an EU leader since Russia’s all-out invasion of Ukraine in February 2022.
Fico arrived in Russia on a “working visit” and met with Putin one-on-one. Kremlin spokesman Dmitry Peskov told Russia’s RIA agency that the talks would focus on “the international situation” and Russian natural gas deliveries.
Visits and phone calls from European leaders to Putin have been rare since Moscow sent troops into Ukraine, although Hungary’s PM Viktor Orban visited Russia in July. Orban’s visit drew condemnation from Kyiv and European leaders.Fico’s views on Russia’s war on Ukraine differ sharply from most other European leaders. The Slovakian PM returned to power last year after his leftist party Smer (Direction) won parliamentary elections on a pro-Russia and anti-American platform. Since then, he has ended his country’s military aid for Ukraine, hit out at EU sanctions on Russia, and vowed to block Ukraine from joining NATO.
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