Situation Room Commends Dangote Over Commencement of PMS Production

The Situation Room on Energy Sustainability, a coalition of civil society organizations, has commended the President of Dangote Group, Alhaji Aliko Dangote, on the resumption of Premium Motor Spirit (PMS) production in Nigeria for the first time in almost three decades.

In a statement signed by Dr. Ikenna Nnaji, the group described the milestone achievement as a testament to Dangote’s visionary leadership and commitment to Nigeria’s economic growth and development.

The Dangote refinery, with a capacity to produce 650,000 barrels per day, is expected to significantly reduce fuel scarcity, leading to lower prices and increased economic activity, which will improve livelihoods, reduce hunger, and save lives.

The group noted that Nigerians have suffered from perennial fuel scarcity, skyrocketing prices, hunger, and even death due to the inability of the country’s refineries to produce, resulting in untold hardships and economic losses.

However, with the commencement of PMS production at the Dangote refinery, Nnaji expects a significant reduction in fuel scarcity, leading to improved livelihoods, reduced poverty, and increased access to healthcare and education.

“We wish to express our heartfelt commendation to the President of Dangote Group, Aliko Dangote, on the resumption of Premium Motor Spirit (PMS) production in Nigeria for the first time in almost three decades,” the statement said.

“This milestone achievement is a testament to the visionary leadership and unwavering commitment of Mr. Dangote to Nigeria’s economic growth and development. The Dangote refinery, with its capacity to produce 650,000 barrels per day, is a game-changer for our country’s energy sector.

“For years, Nigerians have suffered from perennial fuel scarcity, skyrocketing prices, hunger, and even death due to the inability of our refineries to produce. This has led to untold hardships, economic losses, and loss of lives. The impact on our economy, healthcare, and education has been devastating.

“However, with the commencement of PMS production at the Dangote refinery, we expect a significant reduction in fuel scarcity, leading to lower prices and increased economic activity, which will in turn improve livelihoods, reduce hunger, and save lives.

“The resumption of PMS production will also lead to reduced fuel scarcity, lower prices, and increased economic activity, resulting in improved livelihoods, reduced poverty, and increased access to healthcare and education due to reduced economic burdens.

“Additionally, this development will save Nigeria billions of dollars in foreign exchange, enhance the local availability of critical fuel for businesses and households, impact billions of dollars of trade in fuel markets regionally and beyond, position Nigeria as a leader in energy production and sustainability in Africa, and encourage private sector investment in the energy sector.”

The group commended Dangote for his perseverance and dedication to making Nigeria self-sufficient in petroleum production, despite numerous challenges faced during the refinery’s development.

Nnaji also praised the Federal Government for providing an enabling environment for private sector investment in the energy sector, particularly the crude-for-Naira initiative.

The group, however,  urged other private sector players to emulate Dangote’s example and invest in Nigeria’s energy sector to achieve energy sustainability and prosperity.

“We also commend the Federal Government for providing an enabling environment for private-sector investment in the energy sector,” the statement noted.

“The government’s crude-for-Naira initiative, as acknowledged by Mr. Dangote, will contribute to the stability of our currency.

“We urge other private sector players to emulate Mr. Dangote’s example and invest in Nigeria’s energy sector. Together, we can achieve energy sustainability and prosperity for our nation.”

…Promises no more importation of polypropylene as from October

For the first time, Nigerians will gain a clear understanding of the country’s actual fuel consumption, according to Aliko Dangote, President of Dangote Group. This announcement comes as Dangote officially confirmed the rollout of Premium Motor Spirit (PMS), commonly known as petrol, from the world’s largest single-train refinery with a capacity of 650,000 barrels per day.

Reflecting on the achievement of starting PMS production 28 years after Nigeria’s four refineries ceased domestic refining, Dangote, speaking to the press at the refinery in Ibeju-Lekki, Lagos, emphasised that this development will boost the industrial and manufacturing sectors. He highlighted that the refinery will significantly reduce fuel imports, saving foreign exchange, and will contribute to stabilising the naira, lowering inflation, and reducing the cost of living.

Dangote, accompanied by Vice President of Oil and Gas at Dangote Industries Limited (DIL), Devakumar Edwin, and Group Commercial Operations Director at DIL, Hajiya Fatima Aliko-Dangote, described this milestone as a transformative moment for Nigeria, ending years of fuel imports.

He expressed gratitude to Nigerians for their support and praised President Bola Ahmed Tinubu for fostering an environment that made the successful launch of the 650,000 barrels per day refinery possible.

He stated, “Today is a momentous occasion because Nigeria has not produced petrol, or gasoline, for many years. As I stand here, I want to extend my gratitude to the people of Nigeria and to President Bola Ahmed Tinubu’s administration for creating the environment that has enabled us to achieve this monumental task. This development will provide energy for our nation’s growth, development, and prosperity.”

He continued, “I want to personally thank Mr. President for introducing the concept of ‘Naira for Crude’ and ‘Naira for Products.’ This initiative will bring much-needed stability to the Naira by reducing the demand for dollars in the market by 40%, which will help stabilise the exchange rate.

“But that’s not all. It will also address issues like ‘round-tripping,’ where fuel is documented but doesn’t actually enter Nigeria. With this new refinery, we will have a clear view of true consumption. We’ll be able to track every loaded truck and, as much as possible, monitor loaded ships. This will allow us to precisely determine consumption patterns, though that’s a topic for another discussion.

“Today, we are here to celebrate and give thanks to God Almighty for bringing us to this point where we can produce gasoline. Many doubted we would achieve this, but we have delivered.

“We owe a debt of gratitude to the President and his government. Without their support, we wouldn’t be where we are today. I believe this refinery will transform not only Nigeria but also the entire Sub-Saharan Africa. Our capacity will not only meet Nigeria’s needs but also serve the demands of the broader region.”

Displaying a sample of the PMS to the press, Dangote remarked, “This petrol might be a bit cleaner compared to what we had before. It’s of the highest quality, ensuring that your vehicle’s engine will last longer. The quality of this fuel can match any premium standard worldwide, including those in Europe and America. No one can surpass us in terms of quality. Today is truly a celebration for us Nigerians.

“We are committed to ensuring that starting in October, there will be no need to import polypropylene. Our petrochemical plant will be fully capable of meeting all local demands,” Dangote stated.

While assuring that the refinery will guarantee the availability of petrol in Nigeria, Dangote clarified that the nation’s oil company, the Nigerian National Petroleum Corporation Limited, NNPCL, is responsible for controlling petrol pump prices.

He described this development as a significant turnaround for the country, ending years of not producing a single litre of petrol domestically. Dangote emphasised that while he can ensure a steady supply of fuel from the refinery, the NNPC will manage pricing.

“Pricing is controlled by NNPC. For now, we focus on ensuring that the products are available—that’s what I can guarantee,” Dangote said.

Again, Opay Leaves 40 Million Customers Stranded Over Failed Transactions

Popular financial technology company, Opay has once again rendered its over 40 Million customer base stranded due to an unexplained application glitch, barely a month after customers complained of their funds disappearing into thin air.

Several customers were embarrassed on Monday when their attempt to perform transactions failed repeatedly without any form of solution and explanation from the fintech company which prides itself as a company that gives freedom to make quick and easy payments.

Unfortunately, the company’s reputation to provide quick and easy payments proved otherwise following the inability of customers to make and receive payments. Some had to rely on other fintech apps like Moniepoint and Palmpay to execute their transactions.

‘’I went to bokku mart to purchase some goods and because I don’t have an ATM, I use my Opay always because it’s always been easy but I was embarrassed yesterday when the payment failed. I didn’t even see my transaction history but my account was debited. It was like disappearance of money’’, said a frustrated customer.

Another customer explained that his transactions were on pending for several hours when he tried to make payments after purchasing food items for his baby.

‘’My baby’s food finished and I thought of buying some at the supermarket on my way from work. I got there, picked what I wanted and proceeded to make payment but my transactions were pending. I initially thought it was network so I changed the line I was using for data. It was the same thing, I had to leave there to my house to get my ATM so that my baby will not starve.’’

It would be recalled that one month ago, customers experienced similar situation with Opay.

ead some tweets below

@OPay_NG

please explain why I say those money add up to my account and suddenly disappeared

https://x.com/psallo_tunes/status/1811851586412425220

@OPay_NG

”I made a transfer to an account, the money was debited twice but not credited to the account and I can’t even find the transaction in my Opay history. What’s going on!?”

”I don taya for Opay o I made a transaction and there was network error before I knew it my money was debited without any receipt to show for it. I’m getting tired of all this wey person dey try survive. Be like I go soon switch wallet to Palmpay”

”This is absolutely unacceptable! I transferred 10,000 to my Opay account, and to my greatest surprise, the amount has vanished without a trace. There is no receipt or transaction history available for this transfer.I demand a proper and immediate explanation for this.”

However, there has been no statement from the fintech company to explain the reason for this application glitch.