NNPC Yet To Lift Our Products, Dangote Says As It Produces Transparent, Colourless Petrol For Nigeria ~ OsazuwaAkonedo #Chukwuemeka #Aliko #Charles #CharlyBoy #Dangote #Lagos #news #NNPC #NUPRC #Oputa #Petrol #PMAN #PMS https://osazuwaakonedo.online/nnpc-yet-to-lift-our-products-dangote-says-as-it-produces-transparent-colourless-petrol-for-nigeria/05/09/2024/ #Economy Published: September 5th, 2024 Reshared: September 5, 2024 5:26 pm Dangote Industries Limited founded and managed by Aliko Dangote has refuted a
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00:00Dangote Industries Limited, founded and managed by Aliko Dangote, has refuted a media report
00:06that its product is currently in circulation, insisting, the Nigerian national petroleum
00:11company, LNPC Limited, is yet to start lifting its products for onward distribution and sales.
00:18Aliko Dangote, who unveiled the petrol product during the week, said, the new form of PMS
00:25that will soon be distributed from his company will make vehicle engines last longer and
00:31work better because the petrol product that looked transparent and colorless contains
00:35less than 10 parts per million PPM of sulfur.
00:39Antonichi Ejina, the Dangote Group Chief Branding and Communications Officer in a new statement
00:46made available on Thursday, the company is yet to finalize contract agreement with LNPC
00:51Limited, and as such, the regulatory company has not started lifting its products.
00:57Our attention has been drawn to a headline, LNPC lifts Dangote Petrol, sells at 897 Naira
01:06per litre, published in the business day newspapers of 4 September 2024.
01:13We would like to state that LNPC has not commenced lifting of refined premium motor spirit, PMS,
01:21formerly known as petrol, from our Dangote Petroleum Refinery.
01:25Therefore, the issue of fixing the price of petrol lifted from our refinery does not arise,
01:31as we are yet to finalize our contract with NNPC.
01:36The PMS market is strictly regulated, which is known to all oil marketers and stockholders
01:42in the sector, hence we cannot determine, fix, or influence the product price, which
01:48falls under the purview of relevant government authorities.
01:53We urge the public to disregard the headline as it is misleading and does not represent
01:58the true position in this matter.
02:01We are guaranteeing Nigerians of exceptionally high quality petroleum products that will
02:05be readily available all over the country, Dangote Company stated.
02:11President of the Dangote Group, Aliko Dangote, earlier on in the week explained why the first
02:17sample of premium motor spirit, commonly known as petrol, from his refinery appears
02:23clearer or transparent than the petrol currently in use in Nigeria.
02:28Speaking on Tuesday at his refinery in the Ibeju-Leki area of Lagos State, Dangote highlighted
02:34that the clearer petrol is more environmentally friendly and could help reduce health issues
02:39associated with polluted petroleum products.
02:43Others present included the Vice President, Oil and Gas, Dangote Industries Ltd, Dimokuma
02:50Edwin, President and Chief Executive, Dangote Industries Ltd, Aliko Dangote, Group Executive
02:59Director, Commercial Operations, Dangote Industries Ltd, Fatima Aliko Dangote during the unveiling
03:06of the first output of the premium motor spirit, PMS product petrol from the Dangote Petroleum
03:12Refinery, Leki Lagos on Tuesday, September 3, 2024.
03:18The President, Dangote, stated that the new petrol would also protect engines from damage
03:24caused by the unclear petrol typically found in the market.
03:28This is the sample of the petrol.
03:30You see it as a different color, but that is the real deal.
03:35You are now going to have a good and genuine product, he said.
03:39Adding, regarding the color of the diesel, I am sure Nigerians have not seen this color
03:45of diesel before.
03:47This is called Euro 5 diesel.
03:49It contains less than 10 parts per million, ppm, of sulfur.
03:55This will help vehicles, engines, and generator last longer.
04:00The health of the people and the environment will not be compromised.
04:05This is the real deal.
04:06Prior to this presentation, the management of Dangote Group stated that international
04:12oil companies insisted on selling crude oil to their refinery through foreign agents.
04:17They argued that local crude prices would continue to rise because trading firms were
04:22offering cargoes at $2 to $4 per barrel above the official price set by the Nigerian.
04:29Upstream Petroleum Regulatory Commission, the group also alleged that foreign oil producers
04:35appeared to prioritize selling the crude oil extracted in Nigeria to Asian countries.
04:41In August, Punch newspaper had reported that Dangote Refinery was in dispute with the Nigerian
04:47Upstream Petroleum Regulatory Commission over an alleged supply of 29 million barrels of
04:53crude oil to the refinery.
04:55The Dangote Group accused the NUPRC of not effectively enforcing the domestic crude supply
05:01obligations regulations, claiming that the refinery had not received an adequate amount
05:07of locally sourced crude oil.
05:10In response, the NUPRC denied these allegations, stating that it had facilitated the delivery
05:16of over 29 million barrels of crude oil to Dangote from January to June 2024.
05:23Commenting on the new petroleum product by Dangote, the former president of Performing
05:29Musicians Association of Nigeria, PMAN, Charles Chukwemeka Okuta aka Charlie Boy said the
05:36Dangote Refinery used more appropriate material to produce the petrol hence the product is
05:41white according to him.
05:43In a tweet on Thursday, Charlie Boy said, Reason why the PMS is pale like water.
05:50Petrol has different colors, when it's red that means octane was added.
05:55When it's slightly green then octane is slightly very much.
06:00When it's yellow it means it has no lead in it.
06:03That means it's unleaded, but when it's clear as water as seen in the video then you should
06:09know that ethanol was used.
06:11What ethanol does is that it improves engine efficiency and power.
06:16Because ethanol has a good amount of oxygen it lessens the amount of carbonation in engines
06:21thereby reducing air pollution which comes as carbon dioxide.
06:26So this is the best form of petrol.
06:28Congratulations Dangote.
06:51Of course there is going to be availability, that's one thing is guaranteed, but the bigger
07:13question is around pricing.
07:15What modalities are around there?
07:16No well on the pricing I can't say anything because we don't control the pricing.
07:23The pricing at the moment is controlled by NMPC, not Dangote.
07:29So we'll wait for them to do that.
07:32But our own for now is to make sure that products are available and also round-tripping is stopped
07:40where people are just taking dollars out, not bringing products, most of the shenanigans
07:47will stop.
07:49That is what I can guarantee you.
07:51So we await the NMPC's agreement to this?
07:53Yeah, they are the ones that will sell to the market and also distribute under the current
08:00arrangement for NERA NERA.
08:02But we don't have an indication as to when that will be.
08:05We are ready on our part.
08:06We are waiting for NMPC to be ready on their part.
08:10Once they are ready, we'll roll.