This was contained in a statement issued by the Group Chief Branding and Communications Officer of Dangote Group, Anthony Chiejina, on Thursday.

The refinery, Africa’s first privately-owned oil refining facility, had previously cut the price to N970 per litre on November 24.

The latest reduction aims to ease transportation costs during the festive period, a time when Nigerians often face increased travel expenses.

Announcing the special purchase offer, Chiejina said consumers can now buy an additional litre of fuel on credit for every litre purchased in cash, provided they secure a bank guarantee from Access Bank, First Bank, or Zenith Bank.

To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.

“Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” Chiejina said.

The refinery thanked Nigerians for their continued patronage and reiterated its commitment to supplying high-quality, environmentally friendly petroleum products at competitive prices.

Chiejina emphasised that the Dangote Refinery is ending Nigeria’s dependence on substandard and blended imported petroleum products, which have historically harmed human health, machinery, and the environment.

The Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, disclosed this while playing host to a delegation from the Japanese Business Community in Nigeria, led by Japan’s Ambassador-designate to Nigeria, Suzuki Hideo.

In a statement on Sunday, the company’s spokesman, Anthony Chiejina, quoted Edwin as confirming that products from the refinery meet international standards and are already being exported globally.

“In recent weeks, we’ve exported petrol to Cameroon, Ghana, Angola, and South Africa, among others. Diesel has gone all over the world, and jet fuel is being heavily exported to European markets. Our products are already making their mark internationally,” Edwin said.

Edwin explained that the facility is the vision of a Nigerian investor – Aliko Dangote, designed and built by Nigerians, and intended to serve the global market.

He said it is a point of pride that a Nigerian company not only designed but also built the world’s largest single-train refinery complex.

According to him, Dangote Industries Limited acted as the Engineering, Procurement, and Construction contractor for the refinery, saying cutting-edge technologies from around the world were incorporated to ensure that the facility meets the highest standards.

Edwin assured the ambassador-designate and the delegation that the company is open to collaboration, always striving to maintain the best possible standards.

“Even now, we have a lot of Japanese equipment inside both the refinery and the fertiliser plant. There are significant opportunities for collaboration, as we always seek the latest technology in any business we engage in. For instance, our cement plant laboratory is managed by robots, and we always embrace advanced technology. With Japan’s focus on technological innovation, there is ample scope for cooperation and for supplying various types of technology,” he said.

Edwin also stated that the Dangote Petrochemical project will significantly boost investment in downstream industries, creating substantial value, generating employment, increasing tax revenues, reducing foreign exchange outflows, and contributing to Nigeria’s Gross Domestic Product.

He added that by leveraging Africa’s vast crude oil resources to produce refined products locally, the Dangote Group aims to create a virtuous cycle of industrial development, job creation, and economic prosperity.

He reiterated that the refinery’s petroleum products are in demand worldwide, as it expands its polypropylene section to reduce Nigeria’s reliance on imported polypropylene, a crucial material used in packaging, textiles, and the automotive manufacturing industries.

The statement disclosed that the Japanese delegation hailed the refinery and the petrochemicals complex, describing it as an astonishing masterpiece, showcasing Nigeria’s technological advancements on the global stage.

The Japanese delegation, which toured the facilities housing both the Dangote Petroleum Refinery and Petrochemicals as well as Dangote Fertilisers, commended the technology, noting that it reinforces Nigeria’s role as the gateway to Africa.

Managing Director of the Japan External Trade Organisation, Takashi Oku, was said to have remarked that while Nigeria remains the gateway to Africa, the refinery stands as a remarkable project that showcases the country’s technological progress.

Oku added that the facility, as the world’s largest single-train refinery, is a point of immense pride for Nigeria.

“We had heard about the excellence of the Dangote Refinery through the media but seeing it in person has left us truly amazed by its vastness and grandeur. It demonstrates that Nigeria’s population is not only growing but also advancing in technology. We are keen to collaborate with Nigerian companies, especially Dangote Refinery,” he said.

Emphasising that the refinery has bolstered Nigeria’s leading position in Africa, he further noted that the facility serves as an ideal introduction to the country for the global community.

The Managing Director of Itochu Nigeria Limited, Masahiro Tsuno, was said to have also praised the sheer size and automation of the Dangote refinery, calling it a miracle and one of the wonders of the world.

“I’ve seen many standalone refineries across the globe, including in Vietnam and the Middle East. However, the size of a refinery built by one single investor is probably a miracle in the world. And I’m just actually witnessing a miracle,” he said.

This confirms the speculation that the NNPC will no longer be the sole off-taker of the Dangote fuel.

In a statement on Friday, the Minister of Finance and Chairman of the Naira-crude sale implementation committee, Wale Edun, gave an update on the takeoff of crude purchase and product sales in naira transactions.

The Implementation Committee chaired by Edun was said to have held its second post-commencement review meeting on October 10, to evaluate the progress of the Crude Oil and Refined Products Sales in naira initiative.

The committee is pleased to report a successful transition of operations in line with the directive issued by the Federal Executive Council. This directive has established a robust framework for local production and distribution of crude oil and refined products for local consumption in naira.

“With this mechanism now in full operation, along with the commencement of local production, we are well-positioned to transition to a fully deregulated market for all petroleum products.

“Moving forward, petroleum product marketers are now able to purchase PMS directly from local refineries without the intermediary role of NNPC. Marketers are encouraged to initiate direct purchases from refineries on mutually negotiated commercial terms, which will promote competition and improve market efficiency,” the statement said.

Edun noted that the government remained confident that, in the long term, these measures will create better market conditions for the benefit of all Nigerians.

This is also as the 650,000 barrels per day Dangote refinery in Lagos missed the October production projection it had earlier set.

The October production target miss made it the second time in 2023 that Dangote Refinery would raise hopes of Africa, especially Nigeria, of a possible end to petrol importation. However, the failure to begin production means that Nigeria will continue to rely on fuel importation.

It was gathered on Wednesday that amid Nigeria’s continued imports of refined petroleum products, its domestic refineries that would have helped refine the commodities were being starved of crude oil.

About five more modular refineries are ready to commence the production of refined petroleum products but cannot produce the commodities because of the unavailability of crude oil, according to industry sources.

Also, industry sources stated that the Dangote Refinery in Lekki, Lagos, had yet to receive the required volumes of crude oil needed to produce refined products.

Dangote Petroleum Refinery was importing crude oil and expected its first cargo in about two weeks, according to the Executive Director, Dangote Group, Devakumar Edwin.

The report stated that though the Nigerian National Petroleum Company Limited trades crude oil on behalf of Nigeria, in an interview with S&P Global Commodity Insights at the time, Edwin revealed that the NNPCL had committed its crude to other entities.

The Dangote refinery boss did not disclose the other entities receiving the oil company’s crude, but the NNPCL had earlier disclosed in August that it had entered into a $3bn crude oil-for-loan deal with African Export-Import Bank.

The deal allowed the company to pledge future oil production to the bank as repayments for the loan.

Also, Edwin pointed out that the importation of crude by the Dangote refinery was temporary, as the firm would receive supply from NNPCL from November.

Edwin went ahead to state that the firm would begin the production of up to 370,000 barrels per day of crude that would give rise to Automotive Gas Oil, popularly called diesel, and jet fuel in October 2023.

For petrol, the Dangote Group’s boss said the plant would produce it by November 30, 2023.

He said, “Right now, we are ready to receive crude. We are just waiting for the first vessel. And so as soon as it comes in, we can start.”

However, despite the promise to begin production in October, there seemed to be no traces of diesel refining from the facility in October.

The facility was initially billed to begin refining in August, as announced by the President of Dangote Group, Aliko Dangote, at the inauguration of the Ibeju-Lekki facility in May.

“Your excellencies, distinguished guests, our first product will be in the market before the end of July or beginning of August this year,” Dangote had said.

However, it was gathered on Wednesday that the crude oil supply situation to the plant had not improved, as the NNPCL was still finding it tough to provide the crude oil required for the Dangote refinery to commence the production of refined products.

Sources at the Nigerian Upstream Petroleum Regulatory Commission and Federal Ministry of Petroleum Resources confirmed this in Abuja on Wednesday.

“Officials from the Dangote Refinery visited the NUPRC recently to complain about the lack of crude oil required by the plant and why it would be odd for the company to be importing crude when Nigeria produces the commodity,” one of the sources, who pleaded not to be named due to lack of authorisation, stated.

Efforts to get the reaction of the Dangote refinery were unsuccessful, as two spokespersons for the firm did not answer calls to their mobile phones. They also did not respond to text messages sent to them on the matter.

Although the Federal Government blamed the development on Nigeria’s low oil output, operators of domestic refineries raised concerns about the lack of feedstock (crude) for their refineries and how this was stalling the take-off of these plants.

Operators of the modular refineries confirmed on Wednesday that International Oil Companies preferred exporting the commodity to earn dollars, to the detriment of domestic refiners.

The NUPRC had on Saturday announced that more domestic refineries had issued notice to commence the production of refined petroleum products.

It also announced its readiness to enforce domestic crude oil supply obligations that would ensure the availability of crude to indigenous refiners.

Senior officials from the Federal Ministry of Petroleum Resources, the NUPRC, and the Crude Oil Refinery Owners Association of Nigeria further confirmed that the number of local refineries set to commence production was about five.

Modular refinery operators under the aegis of CORAN revealed that feedstock supply had remained a severe bottleneck.

They also told one of our correspondents that the three modular refineries currently in operation hardly have adequate volumes of crude.

CORAN is a registered association of modular and conventional refinery companies in Nigeria. Modular refineries are simplified refineries that require significantly less capital investment than traditional full-scale refineries.

Confirming the readiness of domestic refineries, the Secretary of CORAN, Olusegun Ilori, said about five modular refineries were ready.

It was gathered that Aradel Holdings and OPAC modular refineries were among the plants ready to refine crude. Operators of the plants requested not to name their refineries at the moment.

Ilori stated, “We have a good number of our members that are ready to produce refined petroleum products, but the major problem limiting them, which is stopping their financiers, is the issue of guaranteed feedstock.

“That is, where are they going to get crude oil to refine? The Petroleum Industry Act has come, and it states that there must be a domestic supply of crude for those who want to refine.

While delivering his speech at the official commissioning of the refinery by former President Muhammadu Buhari in May, he said, “Your excellencies, distinguished guests, our first product will be in the market before the end of July or beginning of August this year.”

However, no drop of refined petroleum product from the refinery has hit the market weeks after the promised production deadline

Spokesperson for the Nigerian National Petroleum Company Limited, Garba Deen in June, said that the company would cut down its fuel imports programme in August, once the Dangote Refinery began to push out refined petroleum products latest August.

A top source among the Major Oil Marketers Association of Nigeria also confirmed that NNPCL had cut down importation.

Corroborating Deen, while speaking to journalists after a meeting with oil marketers in Abuja, also in June, the Chief Executive, the Nigerian Midstream and Downstream Petroleum Regulatory Agency, Farouk Ahmed, also said NNPCL had cut down on importation.

Officials of the Communications Department of Dangote Refinery could not speak on the matter as of press time.

However, a source at the refinery said that the management was unsure of when petrol refining would begin at the Ibeju-Lekki facility.

The source who was not authorised to speak said, “For now, the management has not come out with any official date.”

The President, Petroleum and Natural Gas Senior Staff Association of Nigeria, Festus Osifo, advised the Federal Government to focus on completing the Port Harcourt refinery rather than focus on the Dangote refinery.

He said, “We should rather focus on making other refineries work because it would cut down on freight rates from importation, and would reduce prices. Dangote is a private businessman and can decide tomorrow that he would not refine again, although the government has a 20 per cent stake in the refinery. We should rather push for our own refineries, and ask the government the question such as; when is the Port Harcourt refinery going to start refining petrol?”

The National Controller Operations, the Independent Petroleum Marketers Association of Nigeria, Mike Osatuyi, also said there was no cause for alarm as far as petrol supply was concerned as the NNPCL was still importing.

According to him, management of the Dangote refinery may have delayed production, due to some internal challenges.

He also advised the Federal Government, to ensure that other local refineries come on stream rather than depend on the Dangote refinery.

The Governor of the Central Bank of Nigeria, Godwin Emefiele, disclosed this on Monday during the ceremony to inaugurate the Dangote Petroleum Refinery and Petrochemical facility in Ibeju-Lekki, Lagos.

President Buhari who inaugurated the refinery, which is currently the world’s largest single-train petroleum refiner, said his regime had been deliberate about ensuring public-private partnerships.

He described the refinery as a milestone for the Nigerian economy and a game-changer for the downstream petroleum market in the African continent.

Buhari said, “I recall that just about a year ago, I was here to commission your fertiliser (plant) and had the opportunity to briefly inspect this refinery complex which was under construction. The Group Chairman, Aliko Dangote, assured me that the refinery will be ready for commissioning before the end of my tenure.

“I’m aware that this is not the first time that the Dangote Group under Alhaji Aliko Dangote’s leadership is putting Nigeria on the global map through his bold investments in key industries. This has helped to transform our economy from heavy import dependence to a net exporter in some critical industries including cement and fertiliser.”

At the inauguration, which had in attendance senior government officials from Nigeria and other African countries, Buhari described the refinery as a game-changer, just as the Founder/Chairman, Dangote Group, Aliko Dangote, declared that the facility would put an end to the inflow of toxic substandard petroleum products into Nigeria.

The project was inaugurated at the Dangote Industries Free Zone, Ibeju-Lekki, Lagos State. It was attended by governors, lawmakers, government functionaries, royal fathers, captains of industries and prominent Nigerians from all walks of life.

According to the president, Nigeria’s economy, which has been stressed for many years and over a decade of insurgency, has also been severely impacted by several external crises including the global financial crisis, the collapse of oil prices, the Coronavirus pandemic, and the Russia-Ukraine war.

The consequences of these challenges, he said, constituted a severe strain on the economy, limiting government’s ability to provide basic infrastructure without resorting to huge borrowing.

He said, “Our government, therefore, focused its attention on creating an enabling environment for the private sector to thrive and fill the enormous gap in investments, not only in infrastructure, but also in all critical sectors.”

Dangote also stated that the refinery would start delivering refined products to the Nigerian market from July this year, as operators urged the Federal Government to ensure transparency in the supply of crude oil to the 650,000 barrels per day crude oil processing refinery.

Speaking at the event, the founder of the refinery, Dangote, said, “It is our firm commitment that we will replicate in this sector what we have actually achieved in the cement and fertiliser markets, while Nigeria transformed from being the largest importer of these crude products to a net exporter.”

He pointed out that the “first goal is to ramp up projections of various production to ensure that within this year, we are able to fully satisfy our nation’s demand for higher quality products to enable us to eliminate the tragedy of import dependency and stop, once and for all, the dumping in our market of toxic substandard petroleum products.

Our first products will be in the market before the end of July, beginning of August this year.”

He also said the refinery plans to export to 53 African countries which depend on other countries for petroleum products.

Meanwhile, Emefiele said the Dangote Refinery and Petrochemicals could spare Nigeria about N5tn to N7tn annually in the fiscal expenditures of the federal government over the next five years.

He noted that the project would support the fiscal operations of the government, easing budget constraints of funding fuel subsidy.

The CBN governor added that the cost of fuel subsidy may hit N4.4tn by the end of 2022.

He said, “This project will equally provide support to the fiscal operations of the government as it could help ease budget constraints of funding the petroleum subsidy and engender fiscal savings. Available data indicate that, over a five-year period, fuel subsidy in Nigeria rose more than nine-folds from about N154bn in 2017 to over N1.43tn before another three-fold rise to N4.4tn by the end of 2022.

“A simple straight-line projection suggests that this figure could surpass N7tn within the next three years if we do not tackle it effectively. Thankfully, the Dangote Refinery and Petrochemicals could spare Nigeria about N5tn to N7tn annually in fiscal expenditure of the federal government over the next five years.”

the Dangote Refinery, established by Africa’s richest man, Aliko Dangote, is scheduled to be inaugurated on May 22.

A presidential aide, Bashir Ahmad, had tweeted that the inauguration would be done by the President, Major General Muhammadu Buhari (retd.).

“Efforts by the Federal Government to make Nigeria self-sufficient in local refining of crude oil to save the scarce foreign exchange used in the importation of petroleum products have received a boost as the 650,000 barrels per day Dangote Refinery, the world’s largest single-train refinery, is set for inauguration on May 22nd, 2023, by President Muhammadu Buhari,” Ahmad announced.

Speaking on the expected impact of the facility during an interview with our correspondent on Saturday, the National President, Independent Petroleum Marketers Association of Nigeria, Chinedu Okonkwo, said the refinery would not only create jobs, but would reduce the cost of deregulated petrol.

He stated, “That refinery is going to create further hope for this nation. It will create a lot of jobs and ensure availability of products. The time spent in importing petroleum products will be eliminated and Nigeria will gain a lot from it, moving forward.”

On whether the facility would have an impact on petroleum products’ prices, Okonkwo said, “Dangote is a private businessman who is out to make money, but one thing is that if the petroleum business is deregulated, the products will be cheaper. This is because the cost of freight, carrying the crude and refining it and bringing it back as refined products will be addressed and that value alone will be an advantage for the country.”

When asked further to explain whether this implied that petrol would be cheaper once deregulated and the refinery starts producing, the IPMAN president replied, “Yes, at least it will reduce the stress around availability and affordability.”

Okonkwo encouraged oil marketers to support the Dangote Refinery, noting that the facility would not only attract more revenue to operators, but would serve for the betterment of all Nigerians.

“It is our own, because what is needed mostly by my members is the availability of products so that as we make a living from the business of selling petrol, it will help everybody in the system,” Okoronkwo stated.

The 650,000 barrels per day Dangote Refinery, estimated to cost over $19bn, is an integrated refinery project under construction in the Lekki Free Zone, Lagos, Nigeria. It is expected to be Africa’s biggest oil refinery and the world’s biggest single-train facility.

The company, on its website, said the refinery would meet 100 per cent of the Nigerian requirement of all refined products and also have a surplus of each of these products for export.

“Dangote Petroleum Refinery is a multi-billion dollar project that will create a market for $21bn per annum of Nigerian crude. It is designed to process Nigerian crude with the ability to also process other crude.”

The announcement of the planned inauguration of the facility on May 22 had also elicited excitement and expectations among Nigerians, industry operators, government officials and other stakeholders.

“We are optimistic and excited to know that the refinery is set for inauguration, considering the humongous benefits that it is going to have on not just the oil sector, but also on the Nigerian economy,” the National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, had stated.

He told our correspondent that operators were hopeful that the facility would eradicate cases of poor petroleum product supply that often led to incessant scarcity of petrol across the country.

“With the coming onboard of the Dangote Refinery, we believe that Nigeria will say goodbye to PMS scarcity as well as the poor supply of other petroleum products,” Ukadike stated.

The Group Chief Executive Officer, NNPC Ltd, Mele Kyari, disclosed this to journalists when he appeared at the 49th Session of the State House Ministerial Briefing organised by the Presidential Communications Team, at the Presidential Villa, Abuja.

A supply of 300,000 per day in 20 years brings the total supply to 2.1 trillion by the NNPC.

According to him, the corporation had succeeded in locking down the huge supply as part of the Federal Government’s means of guaranteeing sufficient petroleum products supply for Nigeria.

“We have secured the right to sell up to 300,000 barrels of crude oil to the Dangote refinery for the next 20 years. Not only that, by right, we also have access to 20 per cent production from that plant,” he said.

He alleged that stolen crude oil products were now stored in places of worship such as churches and mosques.

He also noted that various law enforcement agencies had arrested 122 persons involved in pipeline vandalism and oil theft from April to August of 2022.

This was as he justified the government’s recent move to hire private entities to safeguard the network of oil pipelines crisscrossing the country.

According to him, the NNPC operatives discovered that stolen petroleum products were stored in places of worship with the consent of the clergy, members and neighbours.

He claimed that in one instance, at least 295 illegal connections were spotted on a 200km stretch of pipeline.

“As you may be aware, because of the very unfortunate acts of vandals along our major pipelines from Atlas Cove all the way to Ibadan, and all others connecting all the 37 depots that we have across the country, none of them can take delivery of products today.

“The reason is very simple. For some of the lines, for instance, from Warri to Benin, we haven’t operated them for 15 years. Every molecule of product that we put gets lost. You remember the sad fire incident close to Sapele that killed so many people. We had to shut it down and as we speak, we have a high level of losses on our product pipeline.

“You remember Lagos, when a fire outbreak happened on one of our pipelines. We discovered that some of the pipelines were actually connected to individuals’ homes. And not only that, with all sensitivity to our religious beliefs, some of the pipelines and some of the products that we found were in churches and mosques,” Kyari said.

He explained that the spate of vandalism had prompted NNPC Limited to shut down its network of pipelines conveying petroleum products across theft-prone areas.

When we say we are losing 700,000 barrels of crude oil per day, we mean it. This is an opportunity lost. There is no company that will produce oil and then you lose 80 per cent of that and continue to produce the oil.”

The NNPC chief said the government’s response to oil theft had led to the arrest of 122 persons between April and August, 2022.

This was confirmed in a statement by the Police Public Relations Officer, Lagos Command, SP Benjamin Hundeyin, who said the attack occurred in the early hours of Monday.

According to him, armed hoodlums were repelled while attempting to cart away already-installed armored cables in the refinery.

He said that one of the hoodlums lost his life while after been hit by a gunfire.

Hundeyin said, “The hoodlums about 20, who gained access to the refinery through the lagoon side, were repelled.

“On sighting security operatives, they fled the scene.”

“One of the hoodlums was hit in the ensuing gunfire and died on the way to the hospital.

“Investigation has commenced with a view to arresting the fleeing attackers.

“On the directive of the Commissioner of Police, Lagos State Command, CP Abiodun Alabi, security at the refinery has been fortified.”