Connect with us
Advertisment

Business

MOMAN Expresses Interest to Lift Dangote Refinery Products

Published

on

MOMAN Expresses Interest to Lift Dangote Refinery Products

MOMAN Expresses Interest to Lift Dangote Refinery Products

Ahead of the completion of the Dangote Oil Refinery, the Major Oil Marketers Association of Nigeria  MOMAN has expressed an intention to engage the management of the company on commercial terms regarding the lifting of its refined petroleum products.
MOMAN Expresses Interest to Lift Dangote Refinery Products
On the 17th of February 2021, the MOMAN CEOs had a virtual meeting with Alhaji Aliko Dangote, the President of the Dangote Group and Mr Edwin, where the Dangote Group presented its project and which culminated to this physical site visit.
MOMAN Expresses Interest to Lift Dangote Refinery Products
The marketers, who toured the 650,000 barrels-per-day single train refinery in Ibeju-Lekki, Lagos recently, expressed belief that the Dangote Oil Refinery would help remove the various bottlenecks associated with importation of petroleum products into the country.
The Association members who visited Dangote Oil Refinery include the Managing Director 11 Plc/ Chairman MOMAN, Adetunji Oyebanji; Executive Secretary of MOMAN, Clement Isong; Managing Director, Total Nigeria Plc, Imrane Barry; Managing Director, MRS Oil Nigeria Plc, Marco Storari; Managing Director, ARDOVA Plc, Olumide Adeosun; Managing Director, NNPC Retail Limited, Elizabeth Aliyuda; and 22 others.
Speaking after a tour of the refinery complex, Oyebanji, said the marketers are eagerly waiting for the completion of the refinery, which is expected to make Nigeria self-sufficient in petroleum refining.
Oyebanji stated, “It is our desire to see our members buy refined products from Dangote Refinery when it comes on stream. We are open to discuss commercial terms with the management of Dangote Oil Refinery regarding lifting of refined products. The impact it will have on the market chain will be changed from a situation whereby a marketer will have to wait for four to five months through imports lead time before getting products.
“The turn-around time is going to be much faster. It will be more efficient. Getting products from Dangote Refinery will also give us the possibility of getting the product by vessels or by trucking. It is going to have a positive impact on the way we do business in the downstream sector. Hopefully, we believe Dangote Refinery is going to result in delivering decent margins for our members; enough margins for us to begin to rebuild or/upgrade the assets in the industry” he added.
 He said that Dangote Refinery would move Nigeria from an import dependent nation to self-sufficiency in petroleum products. “This refinery will move us from import dependent in petroleum product to becoming totally self-sufficient. It will move Nigeria from a situation whereby all the products that we consume will be available locally.  It is going to be a very big development and a game changer for us and we are looking forward to its completion,” the chairman added.
Oyebanji expressed hope that the coming on stream of Dangote Refinery would facilitate the deregulation of the downstream oil sector. “I have always agitated for the deregulation of the downstream oil and gas sector. Now, with Dangote Refinery, it makes it easier to achieve. I believe deregulation will come pretty soon the when Dangote Refinery starts working,” he said.
He therefore urged the Federal Government to encourage more investors who have obtained licenses to establish private refineries in the country. “If you have a policy that allows you issue significant numbers of licenses and only a few are utilised, this tells you that there is a problem somewhere, which requires government’s attention. Government needs to have a discussion with the licensees to find out their challenges and how it can be of assistance to them,” he said.
Chief Operations Officer, Dangote Oil Refining Company, Giuseppe Surace told the marketers that the refinery, which has been designed to process a variety of light and medium grades of crude, including petrol and diesel as well as jet fuel and polypropylene.
He said the refinery is billed to produce up to 50 million litres of petrol and 15 million litres of diesel a day, roughly 10.4 million tonnes of the product, 4.6 million tonnes of diesel, and 4 million tonnes of jet fuel yearly, in addition to having a fertiliser plant, which would utilise the refinery by-products as raw materials.
He disclosed that the 650,000 barrels-per-day capacity refinery, which has recorded 90 per cent completion, is expected to address the challenge of petroleum product importation in Nigeria and other African countries.

For MOMAN, He said, “If you look at the overall percentage completion, we have achieved good, considerable progress. But that overall includes engineering and design, which is 100 per cent over. Procurement is about 98 per cent over. So, it covers various aspects.”

Advertisment

Advertisment

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

Business

Dangote crashes Diesel price to N1,000 per litre

Published

on

Dangote reacts to EFCC’s visit to its Headquarters

Dangote crashes Diesel price to N1,000 per litre

 

Advertisment

 

In an unprecedented move, Dangote Petroleum Refinery has announced a further reduction of the price of diesel from 1200 to 1,000 naira per litre.

Advertisment

 

 

While rolling out the products, the refinery supplied at a substantially reduced price of N1,200 per litre three weeks ago, representing over 30 per cent reduction from the previous market price of about N1,600 per litre.

Advertisement

 

 

This significant reduction in the price of diesel, at Dangote Petroleum Refinery, is expected to positively affect all the spheres of the economy and ultimately reduce the high inflation rate in the country.

Advertisment
Continue Reading

brands/telecom

Coalition of Civil Society for Good Governance, Others Are Purveyors of falsehood Says AAS Legal Team As Jesam Micheal Exposes Their Sponsors (Video)

Published

on

Coalition of Civil Society for Good Governance, Others Are Purveyors of falsehood Says AAS Legal Team As Jesam Micheal Exposes Their Sponsors (Video)

 

Advertisment

 

 

Advertisment

 

The lawyers of Afriq Arbitrage System, Barr. Obeten and Barr. Henry have called out the Coalition of Civil Society for Good Governance led by Comrade Okpanachi Jacob as Purveyors of falsehood.

 

Advertisement

This is not unconnected to their ungodly collaboration with individuals like Prince Humble Eteng, Michael Okoh, Okoi Daniels, Engineer Awajioma who have been slammed with a ten million dollar Lawsuit for nefarious activities to injure the longstanding reputation the organisation has maintained on charges bothering on cyber bullying, attempt to life and property, lies and unlawful incitement and instigation against the CEO of the company , Jesam Micheal, his family and organisation.

 

In a global conference on Tuesday, April 16th, 2024, the legal representatives described their actions as inappropriate, unfounded and a campaign of calumny to malign the integrity of the organisation and management.

 

 

According to Barr. Obeten the matter is in court and the security agencies have picked Abayomi Olusesan who has admitted to committing the heinous crime of stealing investors funds to the tune of $87m. So why accuse the CEO, Jesam Micheal of defrauding the company of the said amount?

 

Speaking further, Barr Henry reiterated their stand to take legal actions against the group for being biassed despite knowing the truth and for misleading the general public by allowing themselves to be used by agents of falsehood.

 

In conclusion, the CEO of Afriq Arbitrage System, Jesam Micheal wondered why a reputable group like CCSGG could be used by Prince Humble Eteng, Michael Okoh and others. He showcased the official court documents which confirmed that Abayomi admitted stealing the investors fund to the tune of $87m which he said was also captured in video evidence. He revealed that some of the properties he bought with part of the money has been collected, remaining the main money which he promised to return to the company. However, after being granted bail, he reneged on his promises and was picked up again by the relevant authorities.

Sadly, his cohorts, Prince Humble who is not even an investors connived with MICHEAL OKOH, PRINCE HUMBLE ETENG,OKOI DENOCK, TOCHUKWU NWOYE, DINGCHI YARLING, Engineer Awajioma and Others to fabricate all sorts of lies against Jesam and AAS.

 

” We will not take the laws into our hands but they should be ready to face the wrath of the law of the land. These are the same people who dragged us to the security agencies and when we got there with facts they ran away and became fugitives, Out of frustrations, they devised a kangaroo world press conference to disseminate all manners of fabricated lies and deceits”

Watch

Advertisment
Continue Reading

Business

Afriq Arbitrage System Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

Published

on

Jesam Micheal, the Rise of the Moon Among Stars, A Game Changer By Femi Oyewale 

Afriq Arbitrage System Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

 

Advertisment

The board of directors of Afriq Arbitrage Systems after an emergency meeting condemned in strong terms the attitudes of Prince Humble Eteng, Michael Okoh, Okoi Daniels, Engineer Awajioma and others about their nefarious activities to injure the longstanding reputation the organisation has maintained and in a final resolution, resolved that the above parties be sued for defamation and has slammed a ten million dollar lawsuit with a suit number w/2011/2024 against them at the High court of the Federal capital territory in the Abuja judicial division on Monday, April 15th, 2024 on charges bothering on cyber bullying, attempt to life and property, lies and unlawful incitement and instigation against the CEO of the company , Jesam Micheal, his family and organisation.

 

Advertisment

 

In the lawsuit through the legal representation of Jesam Michael and AAS by Barrister Ovat the service required the defendants to appear In court within 14 days, else judgement will be issued against them in absentia.

 

Advertisement

 

 

 

It would be recalled that few days after series of cyber bullying against the CEO of Afriq Arbitrage System, Jesam Micheal and his Family by MICHEAL OKOH, PRINCE HUMBLE ETENG,OKOI DENOCK in collaboration with one TOCHUKWU NWOYE, DINGCHI YARLING, Godwin, Benjamin Uwanga and Findins, Jesam escaped assassination attempt as gunmen numbering over ten, armed with sophisticated weapons invaded his lounge in Lagos seeking for him.

 

Afriq Arbiritage System, Slams $10 million Lawsuit Against Micheal Okoh, Prince Humble Eteng, Hajj Ibrahim, Engineer Awajioma and Others (Video)

 

Information available to us revealed that when the hardened criminals invaded the lounge on Friday, April 5th, 2024 where Jesam was billed to address his workers, they were demanding for him and when they learnt he couldn’t make the meeting as expected, they descended on the staff and customers threatening to kill them in his stead. They also went away with the company’s properties such as laptops, equipment and gadgets of staffers and customers.

 

Micheal Okoh who has been ranting on Social media against the CEO of Afriq Arbiritage System has been exposed along with Prince Humble Eteng, Okoi Denock as partners in crime with Abayomi oluwasesan who is in prison for defrauding the financial platform to the tune of $87 million dollars

 

According to reports, Micheal Okoh is an investor in AAS who has benefited from the scheme and has withdrawn over three thousand dollars which he never disclosed to his gullible followers until the evidence was uncovered and exposed to the community.

 

Aside from that, information revealed that Micheal Okoh, Prince Humble And Okoi Denock have been working in tandem with Abayomi in plotting the loot from AAS and threatening the life of Jesam Michael and his family. In a series of life threatening messages the plotters swear to eliminate him and his family for standing on the path of truth, justice and for arresting Abayomi in recovering the loot. Also, these revelations are not unconnected to the fact that these people engineered Abayomi not to return investors money back to the community.

 

However, the long arm of the law will soon reach them as Abayomi who has willingly confessed to the heinous crime he committed to the company is arrested and taken to court where he is Remanded and Micheal Okoh and his cohorts we learnt are also on the radar of the security operatives for collaboration and cyber bullying.

 

 

 

Sadly, the threat to life of the CEO and his family by these people should not be taken lightly as just as Mr Micheal Okoh said in his video that he will bring him down, same day, gunmen were sent to invade AAS lounge on the same day he was to address his workers for the year.

 

 

According to the security officer of the company, the ugly incident has never happened before on any of their investments until this brazen threats from Mr Okoh and others.

Advertisment
Continue Reading

Cover Of The Week

Trending