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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

British And German Remdesivir Stocks Saves the world As US Buys Up Supply

This file photo taken on April 8, 2020 shows one vial of the drug Remdesivir during a press conference about the start of a study with the Ebola drug Remdesivir in particularly severely ill patients at the University Hospital Eppendorf (UKE) in Hamburg, northern Germany, amidst the new coronavirus COVID-19 pandemic.

Britain and Germany said Wednesday they had sufficient stocks of remdesivir, the first drug to be shown to be relatively effective in treating COVID-19, and of which the United States has bought almost all supply.

The US government announced this week that it had bought 92 percent of all remdesivir production by the Gilead laboratory until the end of September — about 500,000 treatments out of nearly 550,000. Each treatment requires 6.25 vials on average.

President Donald Trump “has struck an amazing deal to ensure Americans have access to the first authorized therapeutic for COVID-19,” said Secretary of Health and Human Services Alex Azar.

The drug was approved in the United States on May 1 after clinical trials showing it reduced the recovery time for seriously ill COVID-19 patients by four days, and Europe is set to approve it soon.

Washington’s buy-up raised concerns about a shortage in the rest of the world, but at least two European countries said Thursday that they were not worried.

“The UK has been using remdesivir for some time, first in trials and now in the early access to medicines scheme. The UK currently has a sufficient stock,” the British Prime Minister’s spokesman said.

In Germany, a health ministry spokesman said “the government secured stocks of remdesivir early on for the treatment of corona patients. At the moment, there are sufficient reserves.”

The Gilead laboratory has indicated that it granted free licenses to nine manufacturers of generic drugs in India, Pakistan and Egypt, which will have the right to distribute their versions of remdesivir in 127 countries, mainly in Africa, Asia, the Middle East and Central America.

Gilead boss Daniel O’Day said in May that remdesivir made in the US could also be exported.

Experts say that worldwide production should increase to meet demand.

“If you are worried that you or a loved one will need this drug and it won’t be available if you are not in the US, I don’t think that will be the case (and I certainly hope not),” Farasat Bokhari, associate professor in economics at the University of East Anglia, said.

“Manufacturers in other countries are going to ramp up production. The only issue is how fast they can do it.”


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