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Marketers Will Pay Naira, Not US Dollars For Dangote Fuel — IPMAN

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Oil marketers stated on Monday that refined petroleum products from the $20 billion Dangote Petroleum Refinery are to be sold in naira, not in US dollars as some had believed.

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.

Furthermore, it was learned that the refinery’s management was meeting with representatives of the Nigerian Midstream and Downstream Petroleum Regulatory Authority to fine-tune the price pattern for goods produced at the plant.

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 month once we receive regulatory approvals. This is a big day for Nigeria. We are delighted to have reached this significant milestone.

“This is an important achievement for our country as it demonstrates our ability to develop and deliver large capital projects. This is a game changer for our country, and I am very fulfilled with the actualisation of this project.”

Following that announcement, reports had it that seven major oil marketers in Nigeria had registered with the refinery for the lifting and distribution of refined petroleum products produced by the plant.

The seven major marketers include 11 Plc, Conoil Plc, Ardova Plc, MRS Oil Nigeria Plc, OVH Energy Marketing Limited, Total Nigeria Plc and NNPC Retail.

It was earlier reported that the refinery would supply fuel to about 150,000 retail outlets operated by the Independent Petroleum Marketers Association of Nigeria following a meeting between the management of the refinery and executives of IPMAN.

But some Nigerians have expressed concern over the supply of crude to the plant in dollars, and whether this could make the managers of the refinery to sell refined products in dollars, since the plant is located in the free trade zone.

The Dangote Petroleum Refinery and Petrochemical Project, a subsidiary of Dangote Industries Limited, is a 650,000 barrels per day crude oil refinery, located in Dangote Industries Free Zone, Ibeju-Lekki, Lagos, Nigeria.

Responding to the an enquiry on whether the plant would dispense its products in dollars, the National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, admitted that it was true that crude oil, being an international commodity, was sold to the plant in dollars.

He, however, told our correspondent that this would not make the plant to sell refined petroleum products to the Nigerian market in dollars, stressing that other businesses operated in Nigeria by Africa’s richest man were carrying out their transactions in naira.

“The legal tender in Nigeria is the naira. The cement being sold by Dangote Cement is done in naira, not in dollar. The spaghetti and other essential commodities that he is involved in are all sold in naira.

“So why should one think that he will now sell fuel in dollars? Except for the offshore sales for those who want to move the refined products out of Nigeria using vessels to transport them to other countries. Such customers may get theirs in dollar equivalent,” Ukadike stated.

He, however, noted that another important thing was for the Nigerian government to be able to close up the widening gap in the foreign exchange rate.

“If the exchange rate for the dollar is low, petroleum products would have been cheap in Nigeria, because the products are imported. So I believe that Dangote will definitely sell the products in our local currency, which is naira,” he stated.

Asked if marketers had been briefed on whether products would be sold in naira or dollars, considering the fact that crude was supplied to the plant in dollars, Ukadike replied, “No, the pricing template has not come out. What is going on now is legislation. The template is not yet out.

“And I must state that there is no way the NNPC will bring out its template in naira and Dangote will bring out its own in dollars. It is not possible! So for the cost of their products, I think they are still trying to fix the prices with the regulatory agencies of the Federal Government.

“They will also look at the feasibility of the market and other factors, before announcing their prices for diesel and aviation fuel, which are the products they are producing now. So the price is not out, for once it is out, you’ll be informed.”

Ukadike also stated that more oil marketers were registering with the refinery, adding that IPMAN had been at the forefront of the registration process.

“More applications for registration are being sent to the refinery by marketers and I think the process has been ongoing for some time now. It is a good thing for the country to have a refinery that refines its crude domestically,” the IPMAN official stated.

Another major marketer confirmed that the pricing template for refined products from the facility has not been released yet, but noted that there had been a series of meetings with the regulators on this.

Asked whether the pricing template for refined products had been released, the dealer, who pleaded not to be named due to lack of authorisation, replied, “No, not yet. We have not received any template yet, not to my knowledge.

“But it is possible that the template should be out soon because various meetings by officials of the refinery with dealers and regulators have been ongoing lately. The meetings are to give insights about activities at the plant. And I believe the template is going to be in naira.”

The Dangote Petroleum Refinery is an industrial plant that transforms crude oil into various usable petroleum products such as diesel, gasoline, jet fuel and kerosene.

Dangote Petroleum Refinery with a capacity to refine 650,000 barrels of crude oil per day covers an area of approximately 2,635 hectares in the Lekki Free Trade Zone in Lagos.

The refinery has so far received six million barrels of crude oil at its two SPMs located 25km from the shore. The first crude delivery was done on December 12, 2023, and the 6th cargo was delivered on January 8, 2024.

The refinery can load 2,900 trucks a day at its truck-loading gantries. The products from the refinery will conform to Euro V specifications, according to the firm.

“The refinery design complies with the World Bank, US EPA, European emission norms, and Department of Petroleum Resources emission/effluent norms, employing state-of-the-art technology,” the company had stated in statement.

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JUST IN: Super Eagles Qualify For 2025 Africa Cup Of Nations

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Nigeria’s Super Eagles have officially qualified for the 2025 Africa Cup of Nations with two games remaining in the qualification series.

With 10 points, the Super Eagles have secured a top-two finish in their group, especially after Libya’s unexpected 1-0 victory over Rwanda in Kigali.

The team will next face Benin Republic’s Cheetahs in Abidjan on Thursday, before concluding their campaign against Rwanda at home.

Neither Rwanda (5 points) nor Libya (4 points) can surpass Nigeria in the standings, ensuring their qualification.

The 35th edition of the Africa Cup of Nations will be held in Morocco from December 21, 2025, to January 18, 2026.

The Super Eagles, three-time African champions, reached the final in the last edition hosted in Côte d’Ivoire.

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Music Band Boy Commits Suicide After Boss Tortured Him For Stealing “Sprayed Money” [VIDEO]

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A Lagos young guitarist identified as Lekan, has allegedly committed suicide after being tortured for stealing money from the leader of a music band group in Ogun State.

Lekan, who was pronounced dead by medical experts at a private hospital in Ifo Local Government Area of the state, was found lying lifeless inside his room after drinking an insecticide liquid, “sniper,” to get away from the trauma that trailed the allegations from his boss who was identified as Sam Omo-Oba.

It was learnt that the deceased was tortured and recorded alongside Ayo, another member of the band, for stealing the money realized from their performance at a Celestial Church of Christ (CCC) anniversary celebration where they entertained guests and worshippers.

The development has thrown the entire Oke-Aro community in Ifo Local Government into mourning, considering the circumstances surrounding the demise of the 26-year-old guitarist who lived in their community but operated often in Lagos.

On Wednesday, a close member of the family told our correspondent that Lekan was pronounced dead by medical experts on Monday, less than 24 hours after they left the church show on Sunday. The source, who identified himself as Kola, narrated that the family, even after seeing him lifeless still rushed him to hospital with a commercial motorcycle popularly called “Okada.”

“He was rushed to a private hospital to save him but the medical facility rejected the family request which prompted the move to another healthcare facility where the doctors pronounced him dead”.

Kola explained that the theft allegation, which was linked to the young artist’s demise, started after Sam Omo-Oba asked that members of his band who could not go home spend the night in his house.

“But they could not spend the night in his house because he was not allowed into the estate, so they decided to lodge at a hotel close to the community.

“While in the hotel, we heard that Sam and the band members drank and slept in the same room. In the morning, the band boss raised an alarm that Lekan and Ayo had stolen money inside his pocket, demanding they return it immediately”.

It was gathered that the deceased guitarist maintained the innocence of the crime he was being linked to during the torture. In the video making rounds online, Lekan was seen being allegedly tortured over the theft despite denying any link to the alleged crime perpetrated.

In the less than one-minute video, Lekan and Ayo were seen being questioned about who took the money and their responses attracted torture after the answers failed to meet expectations of the band leader.

In another video, a voice, suspected to be that of Sam Omo-Oba, was heard announcing that some notes had been discovered where the deceased and Ayo allegedly hid them.

Analyzing the videos, a resident of Oke-Aro who identified himself as Micheal told The Guild that the deceased was wrongly accused of theft, saying, “I know Lekan, rather than steal would prefer to work to earn his pay daily. And since our paths crossed, I have not earned that he stole from people”.

He added, “The torture and recording may have affected him psychologically that he considered suicide as the next option. I say this because, on his body, there were bruises on him which indicated that the torture was too much for him.

“I know him since he started playing drum under Kehinde Carlos and I have no record of theft linked to him. You can see it that the video showed the deceased insisting that he never took the money from his boss even when he was beaten to accept the allegations.

“The entire issue is sad and I can’t believe that Lekan is gone. I wish that this whole scenario could be reversed to avoid this tragedy. This is a young man with aspirations in the music industry. I know how he aspired to handle musical instruments for the big artists in the country. But now, all the dreams have been shattered”.

Efforts to get the Ogun Police Command spokesperson, SP Omolola Odutola, to confirm the sad development proved abortive.

 

Credit: The Guild

 

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Doctor, Three Nurses Die In Same Hospital Within 72 Hours In Saki, Oyo State

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A doctor and three nurses have been reported dead in a hospital in Saki West Local Government Area of Oyo State within 72 hours.

According to Vanguard News, this has created panic among residents of the ancient town, particularly around the hospital.

The hospital has been identified as Almusharaf Hospital, Oke Sunah.

A resident of the area, Adekunle Lawal, told Vanguard News: “Three days ago, one nurse died and on Monday another nurse died and yesterday, the doctor and another nurse died.

“We are afraid because we don’t know what caused their deaths.

“The doctor is a quack doctor.

“Maybe all of them treated a patient who has a contagious disease, which, I think, was not well handled.

“It’s a very big hospital.

“They carry out minor surgery on patients and at times they invite doctors from elsewhere to join them.

“If it’s a contagious disease, how come that no patient died but the staff?

“People are also speculating that it could be food poisoning.

“Maybe one of them ate food and gave it to the others to eat.

“We don’t know.

“All these are mere assumptions until those responsible for monitoring these hospitals carry out an autopsy on the deceased.

“None of the patients died.

“It’s only the staff of the hospital.

“All of them have been buried.

“You know they are Muslims.

“Please, the Ministry of Health and other relevant agencies should step in.”

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