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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

Reps to Buhari: Declare State of Emergency on Power Sector





House of Reps


The House of Representatives has urged President Muhammadu Buhari to declare a State of Emergency on the power sector.

The decision followed a motion of Urgent Public Importance moved by Rep. Nnolim Nnaji (PDP-Enugu) during plenary presided over by the Speaker, Mr Femi Gbajabiamila on Thursday.

Presenting the motion tagged “Urgent Need to Declare State of Emergency in the Power Sector”, Nnolim emphasised that the challenges in the sector were connected to most of the country’s problems.

“Absence of electricity for long periods causes discomfort and hampers productivity. It is also a known fact that electricity consumption has become a parameter by which the standard of living as well as the level of industrialisation of a nation is measured.

“There is an ongoing failure of the sector to provide adequate electricity supply to domestic households and industrial producers, despite being a rapidly growing economy.

“At best, average daily power supply is estimated at four hours, although several days can go by without any power at all. We are having a serious decline in power generation, thus the idea of our great nation generating 2,000 to 3,000 MW or less is highly unacceptable,” he said.

The lawmaker said that fixing the energy crises in Nigeria was of paramount importance.

“It will help to reduce crime rate, create employments, reduce health hazards, reduce urban migration, reduce high production costs in our industries, reduce post-harvest losses in agriculture, increase the generation and distribution of water supply, boost small and medium scale entrepreneurs, eradicate poverty, attract foreign investors and generally revitalise the economy and developmental agenda of our nation, ” he said.

He recalled that the National Electric Power Authority (NEPA) created in 1972 to generate and distribute electricity failed to live up to its mandate.

“This necessitated the 2005 Electricity Power Sector Reforms (EPSR) Act that gave birth to the Nigerian Electricity Regulatory Commission (NERC), with powers to regulate the sector, thus NEPA was renamed Power Holding Company of Nigeria (PHCN),” he said.

Some of the lawmakers also accused the Electricity Distributing Companies (DisCos) of under performing and called for a review of the power sector privatisation.

The house, however, mandated the Committee on Power to urgently call for a public hearing on the current state of electricity generation, transmission and distribution.

“This is to evaluate the real problems and come up with ideas on how we can expand our energy sources beyond hydro and gas plants to include coal, solar and other renewable sources of energy.

“The committee should exercise their oversight powers by visiting NERC and other relevant agencies under the Ministry of Power, with a View to ensuring absolute compliance with all the provisions of the existing Acts.”

The house further directed the committees on Power and on Legislative Compliance to ensure prompt implementation of the motion and report back within six weeks for further legislative action. (NAN)

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