The Dangote Refinery says its diesel lunch into the market from April 2024 slashed the market value from N1,600 to N1,000 per litre.

Though the product presently goes for just a little above N1,000.

The refinery stated the value crash representing over 30 p.c of the earlier market value is predicted to positively have an effect on all of the spheres of the financial system and in the end cut back the excessive inflation price within the nation.

Dangote Group Chief Business Officer, Rabiu A. Umar said this on Friday in Kano at a media chat.

Umar stated for the reason that graduation of operations of the refinery, aside from the Nigerian market, its merchandise have been exported to neighbouring African international locations, Europe and the US.

‘’As I communicate with you proper now, we’ve been refining Jet-A 1, that’s aviation gasoline and diesel with the expectation to roll out petrol from subsequent month, ‘’Umar stated.

Recall, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief Govt, Farouk Ahmed, in his current remark said that the standard of the refinery product is inferior to the imported merchandise.

“Dangote Refinery continues to be within the pre-commissioning stage. It has not been licensed but,’’ Ahmed stated.

Reacting to this remark, the Dangote Group Chief Business Officer denied the claims saying it was a complete demarketing of the group.

“Relating to diesel high quality, we began with 600-700 PPM as a result of it was a brand new plant.

“Now, our manufacturing is at 87 PPM, and by the top of August, it is going to be at 10 PPM.

He stated, not one of the imported diesel into Nigeria can compete with the Dangote refinery by way of high quality and this may be confirmed by any knowledgeable who intends to check our merchandise and people imported independently.

‘’The airplanes utilizing our product have by no means for as soon as complained, talkless of the international locations shopping for them in Europe and the US the place they don’t compromise normal.’’

In accordance with him, even when the Home of Representatives management led by the Speaker, Hon. Tajudeen Abbas visited the refinery final weekend, on their manner they determined to purchase diesel from two filling stations and in contrast with that of Dangote Refinery; they had been amazed with the results of the standard of our product.

“The take a look at revealed that Dangote’s diesel had a Sulphur content material of 87.6 ppm (elements per million), whereas the opposite two samples confirmed Sulphur ranges exceeding 1800 ppm and 2000 ppm respectively.”

“We produce the perfect diesel in Nigeria. It’s disheartening that as a substitute of safeguarding the market, the regulator is undermining it.’’

‘’Our doorways are open for the regulator or every other individuals in to conduct assessments on our merchandise anytime; transparency is paramount to us. Our curiosity is Nigeria first as a result of if Nigeria doesn’t develop, we’ve restricted capability for progress.’’

‘’ The take a look at performed of their presence confirmed the standard of our diesel and attest to the truth that our diesel is without doubt one of the finest on this planet with the low Sulphur degree, ‘’Umar stated.

Additionally, on the problem of the refinery not but license, Rabiu Umar famous that paperwork and information don’t lie, including that each one essential procedures have been complied with earlier than the refinery began operations.

‘’Anyone can cross verify our papers, we’re lincensed by the authorities to start operations.’’

‘’NNPCL fairness in our refinery now stands at 7.5% in opposition to 20%’’

Talking on the NNPCL fairness within the Dangote Refinery, Umar stated initially 20% fairness was allotted to the NNPCL with some obligations anticipated to be met.

‘’Nonetheless, the NNPCL has not been in a position to meet these obligation that decreased the fairness to 7.5%, ‘’Umar famous.

He described Dangote Refinery as a Nigerian and African satisfaction that shouldn’t be allowed to die.