Dangote Refinery part 2

I was scared of the huge size of Dangote Refinery in the same way,I was scared of his previous monopolies in sugar, cement and even stranglehold of stock exchange at some point where Dangote cement strangulated the stock market to control about 60 percent of market capitalization.I also complained at my alma matter the ikotun newstand about the inferior quality of his products such as cement,pasta,indomie etcetera.I thought I was the only Nigerians seeing this threat to the extent of socio-economic stability and we hardly feel not a change in our blast of complacency and defiance of insensitive behavior.I came across the statement by the Farouk Ahmed president of midstream and downstream petroleum regulatory authority (MDPRA) as shown in the above pics that Dangote Refinery products are much inferior at 650ppm -1500ppm when compared to imported fuel and most fuels in west Africa and also complained the Dangote Refinery at 45percent completed not yet granted license like Walter Smith.They claim by December Nigeria would become the net exporter of Petroleum products with the commencement of operation at warri and Kaduna refineries with port harcourt coming on stream in August.He noted Dangote directed all petroleum importers and marketers to stop importing petroleum and report at Dangote Refinery for the products .They lamented against the fact that Dangote Refinery would soon become a monopoly  and they cannot allow monopoly to strangulate everybody.

Monopoly besides local authority NNPC had observe unless federal government was forced to call international oil companies to order the Dangote Refinery maybe forced to crash .While NUPRC according to MDPRA ready to allocate sufficient crude to the refinery the international oil companies (IOCs)are frustrating the effort of NUPRC and local refineries like Dangote Refinery and maybe forced to close shop.I think Dangote monopoly is far better than the strangulation of IOCs exporting wealth to their metropolis and draining the local economy.Any iota of truth that the refinery is not completed and it's crude or refined petroleum inferior?Is this not a campaign of calumny or not better than the historic judgement of the supreme court?

Lastly why do we have evil people in this country who doesn't want Dangote Refinery to work and save us from the brigandage of the West turning our economy into dumping ground of all sorts including substandard and bad fuel? Dangote Refinery was 87 ppm and would soon come down to 10 ppm making it the best products in the world and he delivered speech before house of representatives to debunk the lies by regulatory agencies which had no testing lab and still brandished fake testing certificate.He said the testing certificate was fake.He advised them to take from the filing stations and also his refinery products and test to be able to the one that is fake.The advise was followed and Dangote said before the house that they have seen the truth themselves that his refinery produced the best fuel in the country.

In the most powerful interview ever done by professional on this burning ational project the economist Emanuel Kelviñ spoke extensively on sundry issues including te recently conducted laboratory test.He noted the similar studies that were done on total energy downstream was 1,887 part per million(ppm) for imported diesel into Nigeria.

  He lamented he didn't receive a single incentives from government.Dangote was crying of high interest rate there was nothing tinubu say or could do about it.He says interest rate of 30percent would cripple the refinery and send him out of business.I don't blame them because Dangote too has a dirty past and they see it as payback time against him .Be that as it may why do we love white people more than our own?Why can we stop 60 years of economic slavery and let Dangote be?Can you imagine he doesn't even have a license after spending $20b.in refinery business? Federal government has reduced their investment from 20percent to 7.9percent because he hasn't finish the refinery and until finishes they won't take up the full slot.We are the major problem of ourselves and enemies of our progress and we re truly lazy which is why saboteurs could have a field day.

There is no doubt that Farouk and the ilks were the real saboteurs and I was like crying when I read what Dangote said about his detractors who called him monopolist.I saw the post in my Instagram page.Hear him:..... everything I do is in the best interest of my country I can't take any property or asset or refinery to the grave.Take a look at the potential of the refinery according to kelvin Emmanuel on The Morning Show at Arise TV  about 49.4million liters of PMS on a daily basis,26million litters of diesel on a daily basis,12 million liters of jet A 1 on a daily basis,1.1million litres of kerosene on a daily basis,2.1million litters of base oil used for production of lubricants on a daily basis,he lamented why didn't they show interest to supply Dangote Refinery with feedstock?"Why is the government not happy to supply Dangote with Feedstock?"

In reply to the journalist on seat on the possibility of threat against vested interest kelvin replied Dangote Refinery would wipe out the importation business and also begin with the issue of testing globally in the midstream sector in general from the American testing standard for materials,European standard EN228,ASTM,D4814,the American environmental protection test, colonial test, American petroleum standard test.These are various test that ask for the octane number,mode of octane number the distillation in terms of surphur content and density and the test done in the Dangote Refinery lab produced 87ppm for diesel .The test that was done for total energy 's downstream produced 1827ppm for imported diesel and amative energy produced above 2,254ppm and he said his diesel is way far better than the one imported into Nigeria.He suggested they should recruit XGS as the most reputable gasoline testing firm in the world including PWC and KPMG to conduct another certification process for AGO and gasoline in the country if they like for another round of test as third party round Robin test for these products.In 2022 NNPC did what they called reserve based lending with afroexim and set up SPV,Lekki refinery plc through which they borrowed a billion dollars and they staked the forced sale agreements that was generated to invest in Dangote Refinery."Now in the shell purchase agreement there was a specific timeline in which they were supposed to pay the balance of that 20percent with total valuation of $2.7billion stake in Dangote refinery oil company .Now that stake was precedent on the refinery kicking off"and now the refinery kicked off and the refinery badly needed feedstock to function and NNPC did not pay off their stake in form of feedstock that translate into more than 20million barrels of crude oil.The feedstock of $1.7billion in today's market translate into 20.7million barrels .Why are they not paying with that feedstock?You will be shocked by what he said and when he said between 2019 to 2024  NNPC has borrowed about 12 billion dollars at afroexim and they staked about 250million barrels of crude oil as collateral in reserve based lending for that loan,I was almost shedding tears.Yet reneged on simple $2.7billion worth of stake after wasting $12billion ?I don't get it something is wrong with Nigeria.The most recent was project gazet and was widely criticized when they exchange 55,000 bpd for $3.4b.at about 11.85% interest rate,6% sulphur  ,5.85% country risk premium and they happen to pay for 55,000 BPD at the  $57 per barrel and due to this entanglement it could not provide Dangote with Feedstock because it's being doing direct sales direct purchase where exchange crude oil for companies appointed by NNPCL in exchange for PMS before the refinery came up and  has sold the future generations and future of Nigeria gradually impounding the crude oil under our feet and majority hardly knows.They Ve been using these companies appointed by NNPCL including Duke oil now NNPC trading for a long time to do this dirty deals considering that PMS constitute 43% of derivative when you refine a barrel of crude oil.NNPC cannot pay feedstock to Dangote of $1.7billion  due to the fact under the domestic crude oil supply obligation agreement crude oil is actually allocated at a discount of shell price 27% on the open market rate.They failed totally to supply feedstock beyond six million barrels supplied because of this entanglement and the company has to scaled down 20percent to 7.9% equivalent to their cash holdings contributed.

The illegal refineries in the niger delta was highlighted as lacking adequate infrastructure and they lack chamber,they lack hydrotreater that can refine the product in line with international best practices into globally accepted standard and it created black sooth or contaminated environment and carcinogenic impacting the people's health and well-being.There is a lot of impurities in the air in the country with polluted environment compared to cleaner environment overseas.The level of high sulphur content and low octane in the hydrocarbon products of the fake imported products damaging engines and vehicles in the country speaks volumes of the failure of the bike regulator which doesn't even have its own testing lab and still shamefully could not keep quiet and at least suffocate his own ignorance.

The economist did not agree the international oil companies should be blamed but NNPC and should not be separated.

Babafemi ojudu in the media tour of the refinery with his team said the investment was massive and noted he was already taking crude from external parties from Angola,Brazil and America as he once proposed due to frustration in Nigeria.He said the complex had 50,000 rooms for staff and 350 bridges with thousand of cranes already producing jet A fuel for the airlines and exploring to America etcetera.

The claim of monopoly and fake products was bloated and the allegations were put to rest in Dangote lab the first of its kind in subsaharan Africa and had said before not even Saudi Aramco had such world class testing lab.