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"Synergy, Commitment Are Key to Global Energy Sustainability, Says Bounour

By Favour Ifeoluwa & Akinola Ajibade  The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain.  He spoke during the maiden edition of  Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through  media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy  and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
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Dangote Refinery Will Generate $10b From Exports

L-R: Group Managing Director, Dangote Cement Plc, Arvind Pathak; Zambia Minister of Infrastructure, Hon. Engr. Charles Milupi and President/CE, Dangote Industries Limited, Aliko Dangote, during the visit to Aliko Dangote in his Office, after an official tour of Concrete Paved Road in Lagos constructed by Dangote Industries Limited on Friday, May 12, 2023

ByFavour and Akinola Ajibade 

Dangote Refinery is a privately driven entity, established purely as business concern, not a substitute for fuel subsidy, analysts have said. 

The Refinery, which boast of 650,000 capacity will be innugurated next week in order to deepen distribution of petroleum products, which its scarcity has lor years hampered the growth of Nigerian economy.

The project will be commission next week, precisely May 22, 2023.

The project will enable Nigeria to save $10 billion in foreign exchange ( FX) and  generate another $10 billion in exports when it begins operation. 

According to the analysts who were drawn from across oil and gas and other sectors of the economy, Dangote Refinery  project will be profit -driven, as the company will be buying crude oil at the  Market rate, process it the way a typical plant import fuel and resell it a non-subsidised rate.

" Nigerians should not expect that Dangote would sell fuel to them  at a subsidies’ rate.  This will certainly not happen.However, if the government wants to continue to sell fuel to Nigerians at subsidized rate, it has to buy from Dangote at market price and sell to Nigerians at subsidized rates" they added jointly". 

On gains to Nigeria,  analysts further said that the country will be saved the agony of waiting  fuel , which would spend almost 60 days turnaround time. 

" Marketer will just walk around to Lekki processing zone and get fuel from there, this is the advantage. So products supply would be guaranteed and it will be in the neighbourhood.

Again, the transportation cost for fuel would be reduced. Also, it will help Nigeria to conserve foreign exchange. The issue of mother and vessel and perhaps port charges which have been sources of concern for marketers would have been greatly minimized.

 Nigeria would save up to US$10bn in foreign exchange (FX) and generate another US$10bn in exports when the facility begins operation.

Recall that Dangote Refinery Plant costs $19billion, which is loans taken from banks and other financial institutions and so the promoter of the refinery must pay back the loans. 



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