Energy
Dangote Refinery, NNPC Ltd Saga – Civil Societies To Monitor Crude Sales
A coalition of Civil Society Organizations (CSO) at the weekend said it would set up a situation room to monitor the compliance of the Nigeria National Petroleum Corporation Limited (NNPC Ltd) to the presidential directive to sell crude oil to Dangote Refinery in Naira currency.
It was gathered that leaders of 28 CSOs were on a facility tour of the 650,000 bpd world’s largest single train refinery in Lagos, noted that the disposition of the NNPC Ltd and the regulatory agencies indicated that the they deliberately held down Nigeria’s refineries so that they could continue importing petroleum products.
Recall that President Bola Tinubu had in the web of controversies that trailed the face-off between Dangote Refinery and the NNPC Ltd intervened and directed the Corporation to henceforth sell crude to Dangote Refinery in Naira.
Speaking on behalf of others, Solomon Adodo of the Rise Up for A United Nigeria said what his group had seen was a world class facility and wondered how a regulatory agency of the government could take sides with importers of petroleum products when a local refinery is now available to bail the nation out of the forex quagmire which has made the price petroleum products to skyrocket.
He disclosed that the CSOs have concluded to petition the Presidency on the need to adopt Dangote Refinery as a national asset that should be used to liberate the country from the shackles of importation of fuel while it exports crude.
According to him, having gone round to see this world class project, we are at a loss as to why the government could decide to turn against Nigerians in this manner. But we are not too surprised give our past experiences. Those who are profiting from our collective misfortune will not want the Dangote refinery to work.
“We are ready to defend this facility with everything as civil society organizations. We are not speaking on our behalf but on behalf of all Nigerians and on behalf of our fatherland. It leaves much to be desired how an agency of government with oversight function to guide to grow such a project as this would now be disparaging same project. This is too bad.
“We have seen for ourselves and we have cleared all doubt as to the completion of this refinery and the readiness to supply all our domestic needs. We will expose them all. Anyone who is not ready to ensure Nigerians have a new lease of life must give way. Now it is fight to finish.
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“Going forward, we are going to set up a situation room to monitor the compliance of the NNPCL with the directive of Mr. President that Dangote Refinery would be supplied with Crude in Naira because we know that the enemies of the people would want to adopt another strategy to sabotage the presidential directive.
“It is a criminal audacity for an agency of government to brazenly disparage a national asset like Dangote Refinery, more so when government has four refineries and all of them are moribund, how then would you treat a private investor who has committed everything to build a functional refinery much more bigger than all the four own by government put together.
“Nigerians are not stupid; we all know what is interplaying here. They told us that after removing fuel subsidy, market forces would force the price down, what a fallacy of market forces, here we are, the forces have only succeeded in pushing the price up. Now we have a local refinery that will bail us out yet they don’t want it to operate. So that Nigerians would benefit from it.”
Adodo said that the CSOs would mount serious advocacy to make government accede to demands of Nigerians which is not just granting the sale of crude to Dangote Refinery in Naira but also ensuring Dangote fuel are available at petrol stations for Nigerians to buy.
The group appealed to the management of Dangote Refinery not to be discouraged but to trudge on as the group would mount serious campaign in favour of the refinery. “Even if it means we should protest, we will. We can’t allow this international embarrassment to stand.”
He argued that all the claims about monopoly against Dangote Refinery was just to call a dog a bad name in other to hang it. What Dangote Refinety will stand foe is not monopoly but ‘peoplepoly’. We will write the American Society of Engineers over this and the European Union. We will maintain eternal vigilance.
Speaking while welcoming the group, Vice-President, Dangote Industries Limited, Devakumar Edwin, described Dangote Refiney as a value adding facility as it will stop the exportation of Nigeria’s crude and importation of finished products and wonder why government would be against such a vision for Nigeria.
According to him, many African countries have minerals but they are not adding value to their economies because, those minerals are exported raw and the finished products are imported back into the country whereas vice versa should have been the order of the day.
“This is what Dangote refinery seeks to correct, we did same in Cement and Sugar sectors where Nigeria was a leading importer of those products and with the coming of Dangote leading the backward integration programme of the government, others cam into the sector and together Nigeria now exports cement to other countries.
“What we want to do in Refinery, we have done it other businesses, Nigeria used to be the biggest importer of Sugar, we came in and change the narrative. We led the backward integration scheme of the federal government, and we now produce sugar locally for domestic consumption and others have joined us. We did same in Cement by opening up production plant and today Nigeria exports cement to other countries.
“In a business no one was interested in investing into, Dangote delved into it determined to ensure Nigeria no longer imports fuel, invested massively and come up with the world’s largest single train refinery.”
He said he would not take his money to Dubai or Swiss banks as others are doing, he decided to invest at home and now they are saying he wants to create monopoly.
“We didn’t ask for any favour other than that we want to buy crude to produce, first they said there was no crude, later they said we would have to pay some dollars above the prevailing crude market price. And this is a global market where you can track crude prices anytime. We resorted to buying crude from Brazil and United States. Later they said we should not be announcing the price of the products.
“Even the US that is the leading proponent of of free market economy protects its local industries by imposing huge duty on from foreign imports just to protect local industries. This is a man that Saudi Aramco once approached to come and cite the refinery in Saudi Arabia, promising steady supply of cruse. Abu Dahbi also invited him to do same on their soil but he rejected insisting he would build at home, now he did that and a facility that is supposed to add value to Nigeria’s economy is being frustrated.”
The Dangote Vice-President said the Company would continue to focus on its business strategy which is to add value to Nigeria economy through investments and job creation for the teeming Nigerian masses. According to him, Nigeria can only consume 45% of the capacity of the refinery while the remaining 55% will be exported and bring into the country foreign exchange needed badly.
Energy
UNDC Assures on Readiness to Protect Oil, Gas Pipelines
The Niger Delta Youths are primed to assume national responsibilities in critical areas of the economy by protecting vital oil and gas assets in the region.
The United Niger Delta Congress (UNDC) gave the assurance at a media briefing in Abuja, over the weekend, adding that the youths of Niger Delta were ready to work with the federal government in this regard.
The group maintained that youths in the region have shown that such responsibilities, including the security of pipelines, can be entrusted to them.
Speaking at the news conference, Niger Delta Youth activist, Mallam Julius Obi, said the Niger Delta is safer while the nation’s crude is flowing based on the fact that youths in the region are doing the job.
He said that being a youth should not be a disqualification from strategic national assignments but when matched with preparation and character, a national asset.
“We are calling on the federal government to note that Nigeria is full of young men and women who are prepared, disciplined and ready to carry out national responsibilities.
“We urge the federal government to keep opening the doors of strategic national service to young Nigerians who have earned trust the only way it can be earned, by delivery,” Obi said.
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The group commended President Bola Tinubu for sustaining the security reforms in the oil and gas industry and the the National Security Adviser (NSA), Mallam Nuhu Ribadu, for coordinating the protection of the nation’s pipelines, and the management of NNPCL for providing the enabling environment.
Energy
Ambakederimo Questions NNPC Over Crude Oil Sales, Upfront Payments
Joseph Ambakederimo, convener of the South-South Reawakening Group, has questioned the accountability of Nigeria’s crude oil forward sales, demanding clarification on the volume of crude lifted, outstanding balances and the use of upfront payments.
Speaking during an interview on Arise TV on Sunday, Ambakederimo expressed concern over the monitoring of crude oil transactions, questioning who was responsible for tracking deliveries and providing feedback on the arrangements.
“We don’t even know who is monitoring and giving us the feedback of the barrels of crude that have been lifted on forward sales basis,” he said.
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He challenged the Nigerian National Petroleum Company Limited (NNPC) to provide details of the transactions, including the quantity of crude already lifted, the outstanding balance and whether the agreed deliveries had been completed.
“Today, can we get this from NNPC? How much have they lifted? What is the balance remaining? Have they been completed?” he asked.
Ambakederimo also questioned how the money collected upfront under the arrangements had been spent, demanding an explanation of its use.
“That money that was collected upfront, what was the use of the money? Can you justify it?” he asked.
He argued that Nigeria should make better use of its natural resources to accelerate infrastructure development and improve living conditions.
Citing land reclamation projects in the United Arab Emirates, Ambakederimo said Nigeria could explore similar opportunities to create additional land for residential and other developments.
He recalled seeing a signpost while travelling from Dubai to Abu Dhabi describing a project to reclaim land from the sea, using the example to highlight the development possibilities he believes Nigeria could explore.
The South-South Reawakening Group convener also argued that Nigeria could reclaim land in suitable areas, provided environmental concerns were properly managed.
He called for the country to translate its natural resource wealth into infrastructure and improved living conditions, stressing the need for greater accountability in crude oil transactions.
Energy
IEA Puts UAE’s Oil Output at 5.3mbpd for September
Oil output from the United Arab Emirates (UAE) rose to record levels in September, underscoring its resilience even amidst the Middle East crises and liberation from OPEC+ limits.
The International Energy Agency (IEA) issued the data in its monthly report, adding that Abu Dhabi raised total oil production, including condensates, by 400,000 bpd to 5.3 MMbpd.
According to the IEA, the UAE bolstered crude output to more than 4.4 MMbpd, nearing its maximum capacity, which surpasses the previous highs for total oil in August, and crude oil in June.
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The UAE has been one of the most successful among regional producers in restoring flows through the Strait of Hormuz, by drawing on a fleet of tankers to discreetly shuttle cargoes through the chokepoint and then transfer them onto other vessels. In addition, the country’s decision to leave the Organization of the Petroleum Exporting Countries (OPEC) as of May has freed it from the group’s output caps, a source of frustration for years.
Its gains contributed to a wider recovery in flows from Gulf producers, which reached more than 75% of pre-war levels in September, led by Saudi Arabia, according to the Paris-based IEA.
Still, it’s unclear how far the regional rebound has withstood a new wave of Iranian attacks on tankers transiting Hormuz, and escalating hostilities carried out by the Houthi rebel faction in Yemen.
The UAE depleted its observable above-ground inventories at a record pace of more than 270,000 bpd in September, drawing them to an all-time low, according to the IEA.






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