Ademola Adigun: Nigeria’s Crude Oil Supply Alone Cannot Meet Dangote Refinery’s Demand

Oil and state expert, Ademola Adigun, has stated that Nigeria’s crude lipid unsocial tin not conscionable Dangote’s refinery demands.

Adigun said this successful an interrogation with ARISE NEWS connected Monday nighttime astir the lipid and state sector.

Adigun further explained the limitations of Nigeria’s crude proviso successful gathering the demands of the Dangote refinery. “Dangote refinery is truthful ample that adjacent Nigeria’s full ownership output tin not proviso it. Every crude successful Nigeria doesn’t beryllium to the country. There are investors who person invested successful antithetic mining contracts successful Nigeria who instrumentality their crude from what is produced globally. We don’t person capable crude to give. That’s wherefore lipid theft is simply a large issue.”

Elaborating connected the refinery’s operational strategy, helium highlighted the flexibility successful sourcing crude oil. “Dangote needs crude, which it tin get from anywhere. The refinery is built to accommodate antithetic crude, and that isn’t the problem.”

He pointed retired the fiscal constraints faced by Nigeria’s National Petroleum Corporation, saying, “We borrowed the $1.58 cardinal wealth for the concern successful Dangote. People hide that NNPC is broke.”

Adigun praised the efforts and investments of Dangote, stating, “Dangote is doing thing marvellous by investing a batch of wealth successful the refinery successful Nigeria. When these things happen, they volition bash what is called a accent test, which this is part. It is portion of those times wherever we cheque laws, trial laws, concern clime and what it leads to is that we make caller learning and caller methods truthful we don’t repetition mistakes.”

Addressing communal misconceptions successful the sector, helium clarified the factors influencing petrol prices. “First of all, it is not astir getting crude from Nigeria oregon America that determines the terms of petrol. That’s 1 of the problems we have. Nigerians person an entitlement consciousness and mentality across.

 Crude is not the lone origin that determines the outgo of a product. Products are determined by 2 factors, which are the planetary terms of the merchandise and speech rate. It doesn’t substance wherever the crude is from, transport costs are negligible.”

Regarding the relation of the Petroleum Minister, Adigun affirmed that the ministry is actively involved.

Emphasising the marketplace predisposition of the Dangote refinery, helium noted, “Dangote is an export refinery. Whenever it produces anything, Nigeria volition bargain from it successful dollars. It’s nary antithetic from america importing.”

 Adigun addressed the challenges of nationalist cognition and clarity successful the lipid and state sector, stating, “One of the problems we person is sentiments and misinformation. We should dissociate radical and their property from issues. Whatever is happening is misunderstanding, incorrect assumptions, and method issues.”

NANCY MBAMALU 

The station Ademola Adigun: Nigeria’s Crude Oil Supply Alone Cannot Meet Dangote Refinery’s Demand appeared archetypal connected Arise News.