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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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FG To Stop Importation Of Petrol By 2023





The Federal Government has set a 2023 deadline to stop the importation of petrol into the country.

Nigeria, an oil-producing country has been heavily dependent on the importation of petroleum products since its four major oil refineries have been under-utilized.

According to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, while signing the Condensate refinery strategy programme Front End Engineering Design, the strategy is expected to deliver 20 million litres of Petrol when it’s completed.

Mr Kyari explained that President Muhammadu Buhari is concerned that as an oil-producing country, Nigeria is one of the highest importers of petrol in the world.

“For a country that has been producing oil for over 50 years, it is really a difficulty to explain why we are still importing petroleum products.

“We have a clear mandate of Mr. President to stop this and we believe this can be done between now and 2023; it is not a political deadline, it is a realistic, technical deadline that we can deliver on this.”

He listed strategies the corporation hopes to implement to achieve the deadline, including delivering on functional refineries, support to partners on projects that will make gasoline available in the country.

“First, we will deliver on our refineries to make them work and significant work has gone into that and we believe that we can deliver on this.

“Secondly, we will support our partners to deliver on their projects that will make gasoline and other products available which is essentially the many other refinery projects intervention that are going on that we know and we support all of them, particularly the Dangote refinery, we will help them in any way possible to support them to deliver on that.

“Thirdly, which is where we come in, in the upstream as we all know, we haven’t done well, we are busy exploring for oil-producing wells but we haven’t bothered to say what additional value we can add to this country and that’s where the condensate refinery comes in.

In 2017, the Federal Government planned to stop the importation of fuel by 2019 with the approval of a new National Oil Policy by the Federal Executive Council.
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