• About Us
  • Terms & Conditions
  • Contact Us
Saturday, June 10, 2023
Investogist
No Result
View All Result
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    EU member states agree on deal to overhaul key asylum and migration laws

    EU member states agree on deal to overhaul key asylum and migration laws

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    BREAKING: DSS arrests Emefiele after suspension

    Emefiele to be let in without arrest, expected to resign

    BREAKING: Tinubu suspends Emefiele as CBN governor

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    EFCC arrests 52 suspected internet fraudsters in Ogun

    Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

    Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

    LASTMA debunks report of Sanwo-Olu banning arrest of motorists

    LASTMA debunks report of Sanwo-Olu banning arrest of motorists

    22,500 children died in Lagos due to air pollution in 2021— LASEPA

    Lagos belongs to Yorubas; lawmakers will pass new ‘property laws, reverse all the reversible to protect indigenes’ interest’: Speaker Obasa

    Bolt, Uber drivers, others begin nationwide strike, demand 200% increment in fares

    Bolt, Uber drivers, others begin nationwide strike, demand 200% increment in fares

    U.S knew of Ukraine’s plan to attack Nord Stream pipeline – Media Report

    U.S knew of Ukraine’s plan to attack Nord Stream pipeline – Media Report

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Details of 2023 Budget parameters, revenue estimate, expenditure, fiscal balance

    2023 Budget: List of most expensive Zonal Intervention Projects by FG, states with highest allocation

    How to obtain foreign currency from Teller Points at Bank branches

    We did not devalue Naira – CBN

    How to obtain foreign currency from Teller Points at Bank branches

    CBN Devalues Naira to 630/US$1 at the I&E Window – Reports

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

    Inflation rate hits 22.22% in April, highest in 14 years

    Telcos kick as FG plan 12.5% call tax

    FG re-introduces 5% excise duty on telecom services in new fiscal policy

    Headline Inflation in Nigeria rose to 22.04% in March

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.03% as Union Bank loses 8.86%

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI Declined by 0.03%, as volume traded declined by 18.87%

    Again DMO offers N360 billion FGN bond for February

    FGN Savings Bond interest rates slide in June

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained 5.22% on bullish performance

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI increased by 0.35% despite negative market sentiment

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Gained 0.31% as NB rose another 9.63%

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    The NGX- ASI Increased By 0.36% as NB rises 9.97%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

    Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

    Lasaco Assurance Plc to pay Dividend of 15 kobo to Shareholders for 2022 FYI

    Lasaco Assurance Plc to pay Dividend of 15 kobo to Shareholders for 2022 FYI

    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.02%

    BUA Cement Plc gets $500 million loan facility from IFC and partners

    FBN Holdings Plc announces 50 kobo final Dividend for 2022 Financial Year

    FBN Holdings Plc announces 50 kobo final Dividend for 2022 Financial Year

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Breaking: NNPC releases statement on fuel price adjustment

    Breaking: NNPC releases statement on fuel price adjustment

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Seplat says ‘no official notification’ on Buhari’s reversal of approval for ExxonMobil deal

    Seplat extends, revises Mobil Producing Nigeria purchase deal

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
  • Home
  • News
    • All
    • Africa
    • Nigeria
    • World
    EU member states agree on deal to overhaul key asylum and migration laws

    EU member states agree on deal to overhaul key asylum and migration laws

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    BREAKING: DSS arrests Emefiele after suspension

    Emefiele to be let in without arrest, expected to resign

    BREAKING: Tinubu suspends Emefiele as CBN governor

    EFCC seeks transfer of Orji Uzor Kalu’s trial to Lagos

    EFCC arrests 52 suspected internet fraudsters in Ogun

    Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

    Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

    LASTMA debunks report of Sanwo-Olu banning arrest of motorists

    LASTMA debunks report of Sanwo-Olu banning arrest of motorists

    22,500 children died in Lagos due to air pollution in 2021— LASEPA

    Lagos belongs to Yorubas; lawmakers will pass new ‘property laws, reverse all the reversible to protect indigenes’ interest’: Speaker Obasa

    Bolt, Uber drivers, others begin nationwide strike, demand 200% increment in fares

    Bolt, Uber drivers, others begin nationwide strike, demand 200% increment in fares

    U.S knew of Ukraine’s plan to attack Nord Stream pipeline – Media Report

    U.S knew of Ukraine’s plan to attack Nord Stream pipeline – Media Report

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Details of 2023 Budget parameters, revenue estimate, expenditure, fiscal balance

    2023 Budget: List of most expensive Zonal Intervention Projects by FG, states with highest allocation

    How to obtain foreign currency from Teller Points at Bank branches

    We did not devalue Naira – CBN

    How to obtain foreign currency from Teller Points at Bank branches

    CBN Devalues Naira to 630/US$1 at the I&E Window – Reports

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Senate sits on Saturday, increases Ways and Means borrowing from 5% to 15%

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    BREAKING: CBN raises interest rate to 18.5% amid rising inflation

    JUST IN: Nigeria’s inflation rate hits 19.64% – highest since 2005.

    Inflation rate hits 22.22% in April, highest in 14 years

    Telcos kick as FG plan 12.5% call tax

    FG re-introduces 5% excise duty on telecom services in new fiscal policy

    Headline Inflation in Nigeria rose to 22.04% in March

    Headline Inflation in Nigeria rose to 22.04% in March

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rose to N46.25 trillion in 2022, 84.73% of bilateral debt owed to China

    • Policies
    • Budgets
    • Economic Data
  • Markets
    • All
    • Commodities
    • Cryptocurrencies
    • Forex
    • Rates & Bonds
    • Stocks/Equities
    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI declined by 0.03% as Union Bank loses 8.86%

    MTN Nigeria to pay over N200 billion final dividend for 2022

    List of Dividends announced in 2023, qualification and payment dates

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX- ASI Declined by 0.03%, as volume traded declined by 18.87%

    Again DMO offers N360 billion FGN bond for February

    FGN Savings Bond interest rates slide in June

    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    The NGX- ASI gained 5.22% on bullish performance

    FY 2020: Unilever Nigeria Plc remains in loss despite revenue growth

    The NGX- ASI increased by 0.48% as Unilever gained 9.70%

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI increased by 0.35% despite negative market sentiment

    Nigeria’s GDP grows 5.01% YoY in real terms in Q2 2021

    The NGX- ASI Gained 0.31% as NB rose another 9.63%

    FY 2020: Nigerian Breweries Plc reports 54.3% decline in profit

    The NGX- ASI Increased By 0.36% as NB rises 9.97%

    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • All
    • Agriculture
    • Companies
    • Industry
    • Technology
    Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

    Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

    Lasaco Assurance Plc to pay Dividend of 15 kobo to Shareholders for 2022 FYI

    Lasaco Assurance Plc to pay Dividend of 15 kobo to Shareholders for 2022 FYI

    Equities Market Recorded Gains… As NGX-ASI Grows Marginally By 0.02%

    BUA Cement Plc gets $500 million loan facility from IFC and partners

    FBN Holdings Plc announces 50 kobo final Dividend for 2022 Financial Year

    FBN Holdings Plc announces 50 kobo final Dividend for 2022 Financial Year

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    First Bank’s parent company reports N136.3bn profit for 2022, to pay dividend

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Nigerian Breweries presented offer to acquire Chamdor and Amarula producer

    Breaking: NNPC releases statement on fuel price adjustment

    Breaking: NNPC releases statement on fuel price adjustment

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Oando kicks-off test of electric vehicles for mass transportation in Lagos

    Seplat says ‘no official notification’ on Buhari’s reversal of approval for ExxonMobil deal

    Seplat extends, revises Mobil Producing Nigeria purchase deal

    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • All
    • Columnists
    • Editorials
    • Investogist Business Saturday
    • Op-ed
    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Nigerian Exchange gains 5.37% in Tinubu’s first week, highest for any President since return to Democracy

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    The Nigerian Stock Market: Has Tinubu’s Election impacted the Market Negatively?

    Just in: Bandits attack President Buhari’s convoy in Katsina, two injured

    2015 vs 2023 Data: Nigeria situation went from bad to worse under Buhari

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    Who is Hiba Abouk soon to be Achraf Hakimi’s ex-wife worth millions of dollars?

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    North-West, South-West lead as INEC registers 96.2 million, Rivers overtakes Katsina

    ELECTION: How to check your polling unit, code online

    4 things to consider before buying a laptop

    4 things to consider before buying a laptop

    How to move to Canada by starting a business – Part 1

    How to move to Canada by starting a business – Part 2

    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies
No Result
View All Result
Investogist
No Result
View All Result
Home News

Dangote Refinery: NNPC proposed 20% stake acquisition, oil marketers views divided

Friday, 28 May 2021, 8:33 am
in News, Nigeria
1
Dangote Refinery: NNPC proposed 20% stake acquisition, oil marketers views divided
Share Share Share Share Send as Email

Mixed reactions from oil marketers have trailed the the proposed acquisition of a 20 per cent stake by the Nigerian National Petroleum Corporation (NNPC) in Dangote refinery.

On Thursday S&P Global Platts reported that the NNPC was in advanced talks with Dangote Industries to acquire a 20 per cent stake in the 650,000 bpd Dangote oil refinery.

“Negotiations have reached an advanced stage. We are hoping to wrap up the negotiations before the refinery goes on stream. This is a deliberate move to ensure that the risk associated with refinery business does not weigh solely on Dangote Industries, and also a bold statement that the government is ready to encourage private investors in the building refineries,” a company spokesman was quoted as saying.

The Dangote plant, which will be Africa’s largest refinery, is expected to start commissioning early next-year, according to S&P Global Platts.

An executive director at Dangote Industries, Devakumar Edwin, was quoted as saying on March 1 that overall progress was 90 per cent complete, including design, engineering, and procurement, with construction work around 70 per cent complete.

The start-up date of this refinery has been repeatedly delayed, after the company first announced the project in 2013.

The plant will yield 327,000 b/d of gasoline, 244,000 b/d of gasoil/diesel, 56,000 b/d of jet fuel/kerosene as well as 290,000 mt/year of propane/LPG when fully operational, according to a Dangote presentation given at an industry event last year.

It will also produce 830,000 mt/year of polypropylene, 600,000 mt/year of slurry, 290,000 mt/year of propane and 38,000 mt/year of sulfur.

Read also: Shareholders Approve N272.6bn Dangote Cement Dividend

The Chairman, Major Oil Marketers Association of Nigeria, Mr Adetunji Oyebanji, said that the shares of Dangote Refinery should be preferably sold to the Nigerian public and that the refinery should be allowed to operate as a private entity without politicizing it.

“Dangote Group, owners of the Dangote refinery, should be allowed to operate the refinery efficiently as a private entity,” Oyebanji told Punch.

“Our experience is that government regulations and policies make decisions around investments like this political. Preferably, the equity should be sold directly to the Nigerian public.”

However, the move by NNPC to acquire 20% stake in Dangote Refinery was seen as a welcome development by the National Operations Coordinator, Independent Petroleum Marketers Association of Nigeria, Michael Osatuyi.

He said, “It should be a good synergy like the Nigerian LNG Limited where the NNPC has a 49 per cent stake; Shell has 25; Total has 15, and Eni, 10. The NLNG now generates billions of dollars in dividends for the Federal Government.

“As long as it is run as a private entity, not under the control of the NNPC, the outcome should be successful.”

An oil and gas expert, Charlotte Essiet, told Punch that if the NNPC ended up being successful in the purchase of the stake, it would be a win-win situation for the corporation and Dangote refinery.

“What is important is that the objective should be met, the country should benefit immensely from the proposed synergy,” the director of corporate and regulatory relations at AOS Orwell added.

Nigeria imports around 1 million-1.25 million metric tonnes/month of petrol due to inadequate domestic refining capacity. All the refineries, with combined nameplate capacity to refine 445,000 bpd of crude oil, are currently shut down.

NNPC says it expects them to operate at around 90% of capacity when repairs are completed, and they resume production by 2023.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

Related Posts:

  • Buhari finally inaugurates Dangote refinery, facts about the refinery
    Buhari finally inaugurates Dangote refinery, facts about the…
  • Dangote Refinery will supply first product to market by July - Dangote
    Dangote Refinery will supply first product to market by July…
  • NNPC Seals Contract with Tecnimont SpA to Rehabilitate Port Harcourt Refinery
    NNPC Seals Contract with Tecnimont SpA to Rehabilitate Port…
  • Transcorp welcomes the acquisition of 5.52% stake by Femi Otedola
    Transcorp welcomes the acquisition of 5.52% stake by Femi…
Previous Post

Axa Mansard Rises Quarterly Gross Written Premium to N25.08bn

Next Post

Flour Mills of Nigeria acquires 20,450 hectares of land for its Sugar BIP

Next Post
Flour Mills of Nigeria acquires 20,450 hectares of land for its Sugar BIP

Flour Mills of Nigeria acquires 20,450 hectares of land for its Sugar BIP

Comments 1

  1. ujoh kelvin says:
    2 years ago

    Hello,

    If you want to go into investment business, There are so many company platform this days like http://www.virtatrade.com that will enable you as a beginner to raise the fund you need to start up your investment business without you seeking for a loan.

    This company platform is where so many business dealers from different part of the world generate fund that backup their various businesses financially.

    I used this company to backup my cocoa beans export business each time my business is running down.

    You can visit and register with the company website here http://www.virtatrade.com to raise the fund you need now to start up your investment business now.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Plugin Install : Widget Tab Post needs JNews - View Counter to be installed
  • Trending
  • Comments
  • Latest
MTN Nigeria to pay over N200 billion final dividend for 2022

List of Dividends announced in 2023, qualification and payment dates

Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

Tinubu is my president, never knew he’s so intelligent – Abia Labour Party Rep-elect

Buhari to unveil new naira notes Wednesday — no longer Dec 15

BREAKING: DSS arrests Emefiele after suspension

2023 EPL Summer Transfer window: All confirmed deals

2023 EPL Summer Transfer window: All confirmed deals

How to become a distributor of Dangote Cement

How to become a distributor of Dangote Cement

EU member states agree on deal to overhaul key asylum and migration laws

EU member states agree on deal to overhaul key asylum and migration laws

Buhari to unveil new naira notes Wednesday — no longer Dec 15

BREAKING: DSS arrests Emefiele after suspension

Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

Q3 2023 Earnings: Linkage Assurance Plc forecasts N1.25bn Profit after Tax

Emefiele to be let in without arrest, expected to resign

BREAKING: Tinubu suspends Emefiele as CBN governor

Investogist
info@investogist.com

Follow us

Categories

  • Africa
  • Agriculture
  • Arts & Culture
  • Budgets
  • Business
  • Columnists
  • Commodities
  • Companies
  • Cryptocurrencies
  • Economic Data
  • Economy
  • Editorials
  • Financial Education
  • Football
  • Forex
  • Industry
  • Investogist Business Saturday
  • Job Opportunities
  • Markets
  • Nature
  • News
  • Nigeria
  • Op-ed
  • Opinion & Analysis
  • Places & People
  • Policies
  • Rates & Bonds
  • Sports
  • Stocks/Equities
  • Technology
  • Travel & Tours
  • Vacancies
  • World

Quick Links

  • News
  • Economy
  • Markets
  • Business
  • Opinion & Analysis
  • Travel & Tours

Newsletter

Copyright © 2023 investogist.com, All Rights Reserved

  • About Us
  • Terms & Conditions
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • News
    • Nigeria
    • Africa
    • World
  • Economy
    • Policies
    • Budgets
    • Economic Data
  • Markets
    • Stocks/Equities
    • Forex
    • Rates & Bonds
    • Commodities
    • Cryptocurrencies
  • Business
    • Companies
    • Industry
    • Technology
  • Sports
    • Football
  • Opinion & Analysis
    • Editorials
    • Book Club
    • Investogist Business Saturday
    • Op-ed
  • Financial Education
  • Vacancies

Copyright © 2023 investogist.com, All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist