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.
Nigerian fintech company OPay has introduced new security features to improve the safety of its application.
The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.
The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.
The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.
The Federal Government of Nigeria has spoken on the agriculture sector of the country and shared that, in its current state, it needs more capital as it cannot stand alone without it.
They stated that even more capital will be needed in order to transform the agricultural sector and improve food production in Nigeria.
“Relying solely on public capital will not suffice to finance the transformation of Nigeria’s agricultural sector. Similarly, private capital will not be mobilised at the necessary scale unless the associated risks are comprehensively understood, appropriately allocated, and effectively managed.”
It has been noted that there is now an increase in fuel all around Nigeria, from … to 1000 plus in fuel stations.
It was also noted that Dangote Petroleum Refinery increased the price to 1,175 per litre and diesel has been increased to 1,620 per litre.
This new spike in fuel increase has caused Nigerians to lament widely, wondering why this change happened all of a sudden.
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