“While the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) are trying their best to allocate the crude for us, the IOCs are deliberately and willfully frustrating our efforts to buy the local crude
Browsing: Dangote refinery
However, the experts said though the behemoth refinery is located in Lagos, Nigeria, the input cost for the operationalisation of the $20 billion facility is import-dependent, adding that the volatility of the foreign exchange rates might make it difficult for any marginal reduction in the prices of the premium commodities.
“We don’t put pressure on the grid. We produce about 1,500 megawatts of power for self-consumption,” Aliko Dangote said at the Afreximbank Annual Meetings and AfriCaribbean Trade & Investment Forum in Nassau, The Bahamas.
Without mentioning names, the businessman stated that foreign banks are not interested in helping Africa grow, explaining that indeed some of them clandestinely attempted to push the company into loan default during the COVID-19 pandemic.
“We had a bit of delay but PMS will start coming out by the 10th, or 15th of July but then we want to keep in the tank to make it settle. By the third week of July, we will be able to sell it in the market.”
Two sources confirmed that the Doric Breeze ship marked the inaugural BP cargo, loading 45,000 mt of supply from Lekki on May 27, according to S&P Global Commodities at Sea data.
“Tekedia Capital will take $3 million worth before the IPO day. We’re ready and would like to invest into the discount window of investment banks/underwriters. This is the decision of members of Tekedia Capital Syndicate,” Ekekwe stated this on his X handle, @ndekekwe.
“We met this morning, we made the first deal between both of us,” Pouyanne told a panel at the Africa CEO Forum in Kigali, Rwanda. “The two CEOs met with our head of trading and we found the way to convince them to make a deal,” he added.
“Right now, Nigeria has no cause to import anything apart from gasoline and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of litre”, he said.
“This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.”