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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

Crude Oil in the North





By Ibrahim Mustapha

SIR: The discovery of hydrocarbon deposit (crude oil) in the Kolmani River 11 well on the upper Benue trough Gongola Basin, in Northeast is a cheering news and welcome development. The discovery would not have become possible without the support of President Muhammadu Buhari and the strong commitment of the erstwhile group managing director of NNPC, Maikanti Baru. Now, northern Nigeria has joined the league of oil producing states. The discovery of crude oil in the region as stated by government would provide or create job opportunities, revenue generation and above all attract investments. If the exploration begins and oil start flowing, the once booming agricultural region will start enjoying petro-dollars. Like the Niger-delta region and other oil producing states, these states will get the 13% derivation revenue. Besides, the oil companies, through their corporate social responsibilities will intervene in some areas such as education, health and economic empowerment. Added to this, is the possibility of having a ministry for north east similar to the ministry of Niger Delta. Although, recently the government created Northeast Development Commission to accelerate and foster economy development of the region.

Historically, northeast is being considered as economically disadvantaged region with the high rate of poverty and unemployment. In the last one decade, the region has been experiencing Boko Haram insurgency, communal violence, kidnapping and violent attacks by suspected herdsmen. Looking at the menace of militancy in most of the oil producing states with its attendant negative consequences, one expresses the fear that the region’s insecurity may increase with the discovery of crude oil. The youths which rely on agriculture to eke out a living may abandon their farms and age-long farming practice to embrace the lucrative oil sector.

It is on record, northeast contributes nearly about 40 percent of foods we consume in the country. With the discovery of oil, it may likely affect farming activities and food production. Another fear being expressed in various quarters is the environmental hazard associated with oil exploration. For instance, in Niger Delta, environmental pollution and gas flaring have become their major challenges and nightmare in the last five decades. These problems have continued to affect their means of livelihood such as farming and fishing. It has also affected their healthy living. Indeed, the oil drilling or exploration will create these environment challenges to the new oil producing communities.

Whatever may be the challenges of oil exploration in the region, the federal government and other stakeholders should take a cue and learn a lesson from Niger delta experience. For the North, being an oil producing region offers it the greater advantages to address the problems of poverty, unemployment and infrastructural development.
Ibrahim Mustapha,

Pambegua, Kaduna State.
Source; The Nation

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