Business
Dangote Refinery Denies Payment from IPMAN and Clarifies NNPCL’s Role As Sales
Dangote Petroleum Refinery has firmly denied receiving any payments from the Independent Petroleum Marketers Association of Nigeria (IPMAN) for the purchase of refined petroleum products.
The clarification came in a statement from Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Group, emphasizing that despite ongoing talks with IPMAN, no transactions have been finalized.
According to Chiejina, rumours suggesting that IPMAN members are facing difficulties in loading refined products from Dangote Refinery are misleading.
“We currently have no direct business dealings with IPMAN,” he explained, mentioning that any issues IPMAN might be facing are unrelated to Dangote Refinery’s operations.
The company underscored that it bears no responsibility for any payments IPMAN may have made to other parties, as it hasn’t received any funds from them.
The statement also clarified that the payment in question had been made through the Nigerian National Petroleum Company Limited (NNPCL), not through Dangote Refinery itself.
Additionally, NNPCL has not granted any approval or authorization for Dangote to release its Premium Motor Spirit (PMS) to IPMAN, further confirming that there are no formal distribution arrangements between the refinery and the association.
Dangote Refinery touted as a game-changer for Nigeria’s energy landscape, also assured that it can meet the country’s full demand for petroleum products.
With the capability to load up to 2,900 trucks daily, the refinery stands ready to support Nigeria’s energy needs once direct agreements with distributors are in place.
Aliko Dangote speaks on his lineage and addresses not having a son as he was asked about not having a son to carry his name and achievements.
“That is not my priority because God controls everything. You can pray for God to give you a son, but he might be the one to take down the name of the family.”
Instead, he shared that he does not mind not having a son. “I don’t think a son would have done better than the three daughters I have.”
Aside from that, he was also asked about giving advice to young Nigerians. “Work hard, be consistent, focused and know what you want to do.”
It can be reported that following Aliko Dangote’s investment opportunity, some investment platforms are experiencing huge traffic, causing their platforms to become slow and go down.
Two platforms openly announced their issues. Bamboo said “Hey everyone, we’re getting a much higher than expected traffic trying to get into the Dangote IPO and it’s making it difficult for some users to log into the Bamboo app. We’re working on a fix and it will be up and running shortly.”
Cowrywise also said “We’re currently seeing more traffic than usual on the Cowrywise app. Our team is already on it and working to get things back to normal. Thanks for your patience, everyone.”
Nigerian economist Bismarck Rewane advises Nigerians financially, sharing that Nigerians should engage in the Dangote Refinery initial public offering (IPO). He stated that it was a good investment.
He shared “You are better off with your N5,000 share than selling your PVC for N10,000 or N15,000 and consuming it,” Rewane said.
“If you can get 10 million shareholders to participate in the IPO, the Dangote Refinery will have the largest number of shareholders in the world,” he said.
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