Business
Dangote Denies Crude Supply Issues with NNPCL
Aliko Dangote, the President and Chief Executive of Dangote Group, has clarified that his company’s 650,000 barrels per day Dangote Refinery has never accused the Nigerian National Petroleum Corporation Limited (NNPCL) of failing to supply crude oil.
Dangote issued this clarification in a statement on Thursday, addressing recent reports that claimed NNPCL provides around 60 percent of the 50 million barrels of crude lifted by the refinery.
In his statement, Dangote emphasized that the refinery’s main issue has been with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and its perceived failure to enforce the 450,000 barrels per day domestic supply obligation.
He explained that while the Dangote Refinery was built specifically to process Nigerian crude oil blends, obtaining sufficient crude has been a challenge.
Dangote noted that when the refinery approached International Oil Companies (IOCs) operating in Nigeria for crude oil, it was either redirected to third parties or informed that their cargoes were already committed elsewhere.
Despite ongoing efforts to resolve these supply issues, the refinery remains open to exploring additional opportunities to supplement its crude oil supply.
Further clarifying the situation, Dangote stated, “Our attention has been drawn to media reports suggesting that the Dangote Refinery has admitted to receiving about 60 percent of the 50 million barrels from NNPC.
To be clear, we have never accused NNPC of failing to supply us with crude oil. Our primary concern has been with NUPRC’s failure to enforce the domestic crude supply obligation, ensuring that we receive our full crude requirement from NNPC and the IOCs.”
For the month of September, the Dangote Refinery had requested 15 cargoes of crude oil, but NNPC allocated only six. Despite appeals to NUPRC, the refinery has been unable to secure the remaining cargoes.
Dangote also highlighted that when approaching IOCs in Nigeria, the refinery was often directed to their international trading arms or told that their cargoes were already committed.
Recently, President Bola Ahmed Tinubu has instructed NNPCL to sell crude oil to Dangote Refinery and other local refineries in Naira, further emphasizing the need for local refineries to receive adequate crude supplies.
Hamster Kombat has introduced a new anti-cheating strategy to ensure fair play and protect dedicated players. The initiative targets those attempting to manipulate the game for extra benefits, issuing a “cheating is bad” warning that could affect their positions for the airdrop distribution on September 26. The team emphasized the importance of rewarding honest players and creating a secure environment.
As Season 1 of the Telegram-based Web3 game ends on September 20, Hamster Kombat will take a snapshot of the game’s activities to determine airdrop eligibility. The game, which has over 300 million users, is focused on maintaining fairness ahead of its upcoming Season 2 launch.
Binance announced the upcoming launch of “Moonbix,” a play-to-earn (P2E) game on Telegram’s Mini App. In this game, players explore galaxies, collect items, and earn crypto rewards. Although the game leaked early, Binance is fine-tuning it for an official release and warned users to stay cautious of impersonation scams.
Telegram Mini Apps, introduced in 2023, have seen massive engagement, with popular apps like Hamster Kombat driving crypto adoption. Telegram’s integration with The Open Network (TON) has further contributed to this growth.
The Federal Government generated around $1.2 billion from telecom license fees during the early stages of mobile technology in Nigeria, with major operators like MTN, Globacom, Econet (now Airtel), and Etisalat (now 9mobile) contributing to the sum.
These fees were instrumental in laying the foundation for the country’s telecom industry, which officially began in 2000.
The sector has since become a key driver of Nigeria’s economic growth.
Former President Olusegun Obasanjo highlighted this achievement during a book launch held in Lagos on Tuesday.
He reflected on how the licensing of these operators marked a pivotal moment in Nigeria’s technological and economic development, allowing the country to leap into the era of mobile communication.
Obasanjo acknowledged the critical role these funds played in shaping the telecom industry, which has become one of the most significant sectors in the nation’s economy today.
The successful auction of these telecom licenses provided the capital necessary to build the infrastructure and networks that have connected millions of Nigerians, driving economic activity and fostering innovation across various industries.
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