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Marketers Will Pay Naira for Dangote Fuel -IPMAN

Aliko Dangote Refined petroleum products from the $20bn Dangote Petroleum Refinery are to be sold in naira and not in the United States dollar as speculated in some quarters, oil marketers clarified on Monday. Dealers in the downstream oil sector also stated that the registration process for marketers at the refinery was still ongoing, as many operators had continued to register with the plant. It was further gathered that officials of the Nigerian Midstream and Downstream Petroleum Regulatory Authority were meeting with the management of the refinery to perfect the pricing template for products produced by the facility. On January 12, 2023, the Dangote Petroleum Refinery announced the commencement of production of Automotive Gas Oil, also known as diesel, and JetA1 or aviation fuel. The President, Dangote Group, Aliko Dangote, had in a statement issued by the firm, said, “We have started the production of diesel and aviation fuel, and the products will be in the market within this mon
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German government gives Nigeria €47.6m to resettle Boko Haram victims

e German government has dolled out €47.6m as financial support to Nigeria to resettle victims of Boko Haram attacks.

Leader of a German delegation, Mrs. Renate von Boddien, made this revelation during a meeting of the Nigeria-Germany Consultations on Development Cooperation, hosted by the Federal Ministry of Budget and National Planning in Abuja on Thursday.

According to a statement issued by the ministry, Boddien was quoted as saying that the commitment was part of bilateral technical cooperation and special project initiative aimed at tackling the root causes of displacement of refugees and speed up their integration under the ‘One World No Hunger Green Innovation’.

She said the action will also strengthen Germany’s support for the Green Innovation Centre for Agriculture and Food Sector.

She explained that €22.6m was earmarked for bilateral technical cooperation and special funding lines; €19.9m for special initiatives to tackle the root causes of displacement/reintegrating of refugees; and €6m for special initiatives for the ‘One World No Hunger’ project initiated to strengthen its support for the Green Innovation Centre.

She was quoted to have said that the “technical cooperation is being implemented through the pro-poor growth and employment promotion programme in Nigeria, which was inaugurated by the German Ministry of Economic Cooperation and Development and is co-financed by the European Union.

“The objective is to increase employment and income generation for Micro, Small and Medium-sized Enterprises in the three states of Niger, Ogun and Plateau.”

She further stated that other areas Germany was planning to also commit funds included humanitarian support in the North-East, the fight against polio disease and to support technical and vocational education.

The Minister of Budget and National Planning, Senator Udo Udoma, lauded the German government for its support and told the German Ambassador to Nigeria, Mr. Schlag Heck, that the Federal Government was working hard to diversify the Nigerian economy.

This, he said, would stimulate growth through agriculture, solid minerals, manufacturing and development of processing zones.




Source;Dailypost

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