https://en.sputniknews.africa/20240720/nigerian-regulatory-agency-head-accuses-dangote-of-threatening-with-monopoly-over-diesel-import-ban-1067575746.html
Nigerian Regulatory Agency Head Accuses Dangote of Threatening With Monopoly Over Diesel Import Ban
Nigerian Regulatory Agency Head Accuses Dangote of Threatening With Monopoly Over Diesel Import Ban
Sputnik Africa
The Dangote refinery, which was launched in January 2024 with a cost of $20 billion by Nigerian tycoon Aliko Dangote, has the potential to become the largest... 20.07.2024, Sputnik Africa
2024-07-20T19:03+0200
2024-07-20T19:03+0200
2024-07-22T16:24+0200
sub-saharan africa
nigeria
west africa
aliko dangote
europe
oil
dangote refinery
refinery
gas
policy
https://cdn1.img.sputniknews.africa/img/07e7/05/17/1059417868_0:160:3072:1888_1920x0_80_0_0_1d817cbc93d56a0f1b50851df992dfa1.jpg
Aliko Dangote, the wealthiest man in Africa, has requested that Nigeria suspend diesel and aviation fuel imports, Farouk Ahmed, the head of the Nigerian Midstream and Downstream Regulatory Agency, told reporters. Ahmed added that this action is damaging to the energy security and market competition of the West African country. Dangote's 650,000 barrel-per-day refinery near Lagos has been in operation since January, producing aviation fuel, naphtha, and diesel.The Nigerian gasoline marketing group chastised the regulator for allowing high-sulfur diesel production domestically while prohibiting imports, thereby benefiting Dangote, the Western media reported in turn.Imported diesel must have a sulfur concentration of 50 parts per million, whereas domestic output can range from 650 to 1,200 ppm.High-sulfur fuels can damage engines and harm the environment, making them prohibited in several parts of the world.According to the Depot and Petroleum Products Marketers Association of Nigeria, which was cited by the media, "this is a clear adoption of Dangote Oil Refinery as the sole supplier of automotive gas oil to the nation" with reference to diesel.
nigeria
west africa
europe
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2024
News
en_EN
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik Africa
feedback@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
nigeria, west africa, aliko dangote, europe, oil, dangote refinery, refinery, gas, policy, market, trade, monopoly, regulation
nigeria, west africa, aliko dangote, europe, oil, dangote refinery, refinery, gas, policy, market, trade, monopoly, regulation
Nigerian Regulatory Agency Head Accuses Dangote of Threatening With Monopoly Over Diesel Import Ban
19:03 20.07.2024 (Updated: 16:24 22.07.2024) The Dangote refinery, which was launched in January 2024 with a cost of $20 billion by Nigerian tycoon Aliko Dangote, has the potential to become the largest facility in both Africa and Europe if it achieves its maximum production capability. Moreover, it could end $17 billion annual gasoline imports from Europe to Africa, Western media reported.
Aliko Dangote, the wealthiest man in Africa, has requested that Nigeria suspend diesel and aviation fuel imports, Farouk Ahmed, the head of the Nigerian Midstream and Downstream Regulatory Agency,
told reporters.
“That is not good for the nation in terms of energy security and that is not good for markets in terms of monopoly,” he said.
Ahmed added that this action is damaging to the energy security and market competition of the West African country. Dangote's 650,000 barrel-per-day refinery near Lagos has been in operation since January,
producing aviation fuel, naphtha, and diesel.
The Nigerian gasoline marketing group chastised the
regulator for allowing high-sulfur diesel production domestically while prohibiting imports, thereby benefiting Dangote, the Western media reported in turn.
Imported diesel must have a sulfur concentration of 50 parts per million, whereas domestic output can range from 650 to 1,200 ppm.
High-sulfur fuels can damage engines and harm the environment, making them prohibited in several parts of the world.
According to the Depot and Petroleum Products Marketers Association of Nigeria, which was cited by the media, "this is a clear adoption of Dangote Oil Refinery as the sole supplier of automotive gas oil to the nation" with reference to diesel.
“This situation is detrimental not only to the downstream operators but to the nation at large,” it added.
