Business

Dangote Officials, Refiners Tackle Marketers Over Imported PMS

Published

2 weeks ago

September 20, 2024

Dangote Officials, Refiners Tackle Marketers Over Imported PMS

Domestic crude oil refiners and officials at the Dangote Petroleum Refinery have kicked against the commencement of the importation of Premium Motor Spirit, popularly called petrol, by major oil marketers in Nigeria.

Oil refiners alleged that some imported fuels were of low quality when compared with the ones produced by the Dangote refinery, a position that was reiterated by officials of the $20bn Lekki-based plant.

The PUNCH exclusively reported on Wednesday that three major oil marketers were expecting vessels of imported petrol this week barring any unforeseen circumstances.

Dealers said about 141 million litres of PMS are being conveyed to Nigeria by oil vessels following the full deregulation of the downstream oil sector by the Federal Government.

They also noted that the recent hike in the pump prices of petrol produced by the Dangote refinery and released by the Nigerian National Petroleum Company Limited on Monday had allowed room for PMS imports.

Reacting to this on Thursday, officials at the Dangote refinery and the Crude Oil Refiners Association of Nigeria tackled the marketers, stressing that aside from the fact that the situation would increase the demand for United States dollars, the imported fuels were of low quality.

“These people (marketers) are importing dirty fuels that are toxic,” an impeccable source at the Dangote refinery who spoke to one of our correspondents in confidence, declared.

The source added. “They are importing substandard fuels and if allowed they will not stop importing such. We have more than enough, but these guys don’t want it. They want the game to continue, but the game will not continue.”

Another official at the plant stated that Nigerians should be concerned about the importation of substandard petroleum products into the country.

“You have to be concerned about the quality of the products they import. These are toxic fuels when you consider their blending process. All this is just to maximise profit,” the official stated.

Their positions were corroborated by the Publicity Secretary of CORAN, Eche Idoko, who alleged that some of the substandard fuels were blended in Malta or Togo.

He called for backward integration, saying some were afraid that Dangote would become a monopoly.

“The fear marketers are having is that Dangote will become a monopoly, but that has been taken care of by Dangote subscribing to our association. With the Petroleum Industry Act in place and all the agencies in play, there is no way that Dangote can become a monopoly.

“But for people who are used to a particular way, the fear of what the unknown holds keeps them back. I think that’s where a lot of marketers are now. They don’t know what to expect in this new regime and they are trying to struggle.

“So I would assure you this regime will pay them way better than the regime of importing petroleum products, where they sell to us, substandard products blended in Malta or Togo and imported into our country,” Idoko stated.

The domestic refiners’ association spokesperson condemned the continuous importation of fuel by marketers despite the coming on board of the Dangote refinery.

He said the focus at this time should be on how to export refined products instead of bringing substandard fuel into the country.

Idoko, however, recalled that some marketers who tried to import petroleum products could not do so after the removal of subsidies due to the foreign exchange crisis.

“For some people who are doing this import, at the end of the day, you import, and then you go back to CBN to give you ‘Form M’ to be able to access dollars. So, by importing, you are still not solving the problem because you still have to rely on dollars within Nigeria or use your naira to buy dollars from anywhere. And it will reduce the value of the naira. So you have not solved the problem.

“What enables the power of the currency is the level of its demand by other corresponding currencies. So, if you have dollars, francs, cefa, and other currencies chasing the naira because you want to buy a refined product of Nigeria, invariably, the value of the naira will appreciate,“ he explained.

Responding to concerns about the quality of imported fuels, the Nigerian Midstream and Downstream Petroleum Regulatory Authority declared that all imported PMS would be subjected to at least three major tests by the agency before being allowed for sale across the country.

Its spokesperson, George Ene-Ita, earlier said marketers with approved import licenses were free to import PMS, but stressed that the products must be subjected to three major tests by the agency.

“The products must be subjected to our testing protocols at the ports. The products must conform to stipulated standards before we authorise them to move the fuels to their terminals.

“Also, before the smaller vessels bring it further inland to Nigeria our people will fly to the place to see the product and carry out some tests to ensure the right specification is upheld.

“Tests are also done at the products’ origins. And when the products come in, before they are released to the market, further tests would be conducted to ensure that they meet the specifications,” he stated.

Related Topics:Dangote refinery Featured

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Business

Infrastructure Upgrade: Zenith Bank Apologizes for Disruptions, Assures Customers on Improved Services

Published

7 hours ago

October 3, 2024

Sahara Weekly

Infrastructure Upgrade: Zenith Bank Apologizes for Disruptions, Assures Customers on Improved Services

Nigeria’s leading financial institution, Zenith Bank, has reassured its customers of improved services following recent infrastructure upgrades.

In a message posted on Thursday, the bank apologised for the service disruptions experienced across its e-channels during the upgrade period.

The bank clarified that the glitches were a result of routine information and technology maintenance, which is essential for optimizing service delivery.

Zenith Bank emphasized its commitment to ensuring 100% uptime, stating that it takes this responsibility “very personally” and continuously allocates resources to maintain uninterrupted service availability.

In the statement, the bank expressed its sincere apologies for any inconvenience caused to customers during the upgrade process, highlighting that the information technology enhancements are designed to improve the quality of service for its esteemed clientele.

The message reads in part:

Dear Valued Customer,

We sincerely apologise for the service disruptions you experienced recently on our banking channels. This was due to an information Technology upgrade aimed at improving the quality of service we provide.

We have made significant progress with the upgrade and you can now perform transactions conveniently with the following Zenith bank Channels:

Your Zenith Bank Debit Card
The Zenith Bank Mobile App
The Zenith bank Internet Banking Platform
Zenith Agents nationwide (Agent Banking)

You can also visit any of our branches nationwide to perform your transactions

Please direct all enquiries to Zenith Direct on +234 201 278 7000,
0700ZENITHBANK, 0904 085 7000 Or via email at [email protected]

Thank you for banking with us

Business

FANAFILLIT sets to Unite hearts and transform lives with GLOWFUX 2024

Published

10 hours ago

October 3, 2024

Sahara Weekly

FANAFILLIT sets to Unite hearts and transform lives with GLOWFUX 2024

Fanafillit Integrated Concepts, the visionary force behind the annual GLOWFUX Charity Concert, has revealed its ambitious plans for the 2024 edition. Slated for December, this year’s event aims to gather compassionate Nigerians for a powerful and heartwarming initiative, designed to bring joy to the lives of special children. The event promises not only world-class entertainment but also a deeply moving experience for all attendees.

In an official statement, Miss Rebecca Olaniyan, the Coordinator for the 2024 GLOWFUX Charity Concert, announced the theme: “UNITING HEARTS, TRANSFORMING LIVES.” This theme encapsulates the core purpose of the event—fostering unity through acts of love and compassion, resulting in profound and lasting change for both individuals and communities. “This theme underscores the concert’s mission of creating connections that inspire growth and empowerment,” Miss Olaniyan explained, as the concert continues its tradition of supporting children in orphanages and special needs homes.

The 2024 edition introduces a thrilling new twist with a change of venue to the historic National Museum, Onikan, Lagos. According to Mr. Olubode Mac Oserinde, initiator of the GLOWFUX Charity Concert and Team Lead at FANAFILLIT, this change is designed to offer guests an even richer experience. “With this year’s edition at the National Museum, GLOWFUX Charity Concert is set to elevate the event experience,” he noted. “The museum’s serene and culturally significant environment will add a new dimension to the event, ensuring that it not only entertains but also educates and enriches our guests.”

One of the key highlights of this year’s concert is the lineup of extraordinary young talents, aged between 7 and 16, who are poised to mesmerize the audience. Gospel sensation Feranmi Golden Angel, dynamic entertainer Vanessa Jones, proverb maestro Chief Adigun Olowe, and dexterious saxophonist Dom Sax will lead the entertainment. Their youthful exuberance and remarkable skills are sure to inspire both the children and adults in attendance, offering a unique perspective on how young minds can make a powerful impact.

Kicking off the day, the GLOWFUX Carpet session will run from 11:00 a.m. to 1:00 p.m., offering guests a glamorous and engaging introduction to the event. The main concert will then follow from 1:00 p.m. to 6:30 p.m., ensuring a day full of joy, laughter, and heartwarming moments.

This year’s concert will also feature the traditional induction of new GLOWFUX Young Ambassadors, a momentous occasion where young advocates are recognized for their commitment to making a difference. Additionally, the GLOWFUX Hall of Charity Awards will honor outstanding contributions to the community, with awards in the categories of GLOWFUX Man of the Year, GLOWFUX Woman of the Year, GLOWFUX NGO of the Year, and GLOWFUX Socially Responsible Corporate Brand of the Year.

In a significant addition to the program, attendees can look forward to an enriching motivational talk on the power of giving with love. The concert organizers are currently in discussions with Rotarian Femi Adenekan, Governor of Rotary District 9112, to deliver this insightful keynote address, which will further emphasize the concert’s message of generosity and kindness.

As always, the GLOWFUX Charity Concert is open to the public, inviting individuals to celebrate with the special children, who are treated as VIP guests. Attendees are encouraged to bring gift items for the children and to join in the spirit of giving.

The entertainment lineup for the day is brimming with excitement, with performances from talented young stars and appearances by Hilary Jackson and his Dance Group. First Class Comedy will provide comic relief, ensuring that the audience is treated to both inspiration and laughter. The event will be hosted by the dynamic duo of Princephelar and MC Luwy, while popular child-skitmaker Akorede is expected to make a special appearance as a celebrity guest.

The GLOWFUX Charity Concert is open to the public, inviting individuals to celebrate alongside the special children treated as VIP guests with complimentary food, drinks, and entertainment for everyone. Attendees are encouraged to bring gift items for the children and join in the spirit of giving. Guests can register at https://donate-ng.com/campaign/glowfux-2024 to secure their spot at this memorable event.

The 2024 GLOWFUX Charity Concert is supported by notable brands, including Elegushi Royal Stool, iCare Foundation, Courteville Solutions PLC, Seniors Wellbeing Foundation, Hands Lifting Hearts Initiatives, Danone, Seven-Up Bottling Company, Primero Transport Ltd, Fidson Healthcare, Beloxxi Biscuits, AkModel Properties, Corsican Brothers, KingsMead Group of Schools, MALENS Diagnostics, Headway Events, DJ MAPS Productions, Epee Tech Solutions, SIFAX group, and 3Zs Fabrics.

Media support will come from an array of respected outlets, including AIT, Global Excellence magazine, theeagleonline.com.ng, KRAKS TV, newspop.com, theelitesng.com, freedomonline.com.ng, PULSE NG, saharaweeklyng.com, thegazellenews.com, pmexpressng.com, freelanews.com, thecitypulsenews.com, societyreporters.com, theimpactnewspaper.com, thestatusng.blogspot.com, mockinbird.com.ng, omonaijablog.com.ng and others. This comprehensive media coverage ensures that the concert will reach a broad audience, amplifying its impact.

For those looking to contribute, the GLOWFUX Charity Concert offers numerous avenues for participation, partnership, and sponsorship.

For all inquiries related to participation, partnership, or sponsorship, please contact:
– 07085755549
– 07032312815
– 09159712472

To support this noble cause, donations can be made to:
Account Name: GLOWFUX Concert
Account Number: 8554972016
Bank: FCMB

GLOWFUX Charity Concert: Giving happily to live happily.

Business

SIGNING CEREMONY OF THE STRATEGIC COOPERATION AGREEMENT BETWEEN DANGOTE INDUSTRIES LIMITED AND CHINA NATIONAL BUILDING MATERIALS GROUP CO. LIMITED

Published

23 hours ago

October 2, 2024

Sahara Weekly

SIGNING CEREMONY OF THE STRATEGIC COOPERATION AGREEMENT BETWEEN DANGOTE INDUSTRIES LIMITED AND CHINA NATIONAL BUILDING MATERIALS GROUP CO. LIMITED (CNBM) IN LAGOS ON WEDNESDAY, OCTOBER 2, 2024.