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Increased Production to Drop Nigeria’s Petrol Deficit by 39%—Kpler

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By Adedapo Adesanya

Increase in production volume at refineries in Nigeria will reduce petrol deficit in the country by 39 per cent to 170,000 barrels per day in 2025 from 280,000 barrels per day, according to Kpler.

Kpler, a market insights firm focused on the energy and shipping markets, said in a report that increasing output at the Dangote and Port Harcourt refineries throughout 2025 are expected to significantly lengthen not just Nigeria but West Africa’s petroleum (gasoline) balances.

“Increasing refinery runs at Nigeria’s Dangote and Port Harcourt refineries throughout 2025 are expected to significantly lengthen West Africa’s gasoline balances,” the firm said.

It confirmed that the shift will pose challenges for European refiners, with European gasoline exports to Nigeria already dropping to a four-year low of 70,000 barrels per day in December.

Recall that the Organisation of the Petroleum Exporting Countries (OPEC) recently said that the increased production of petroleum products by the Dangote Petroleum Refinery has reduced the importation of refined products from Europe.

The 650,000 barrels per day Dangote oil refinery built by Nigerian billionaire, Mr Aliko Dangote, in Lagos, had affirmed to compete with European refiners when operating at full capacity.

Although, when it started operations last year, it struggled to secure sufficient crude locally — as production remains below target and tied to contracts with other players by the Nigerian National Petroleum Company (NNPC) Limited.

Kpler said that following the commissioning of key units within the gasoline block-Reformer, isomerization, RFCC, and Alkylation-this output is reflected in the sharp reduction in residue and naphtha production.

“We estimate that Dangote’s RFCC (the most critical unit for high- volume gasoline production) is currently operating at 40-45% capacity, placing total Nigerian gasoline production at above 100 kbd,” Kpler added.

It wrote that, “Dangote’s fuel oil exports, for instance, fell from 60 kbd in 23 to just 6 kbd in Q4, while naphtha exports also dropped significantly q/q,” adding that, “Achieving higher yields and production volumes will depend on further romping up RFCC unit rates, a milestone antiopated by late 2025.”

Kpler pointed out increased production volumes at Dangote will reduce “Nigeria’s gasoline deficit from -280 kbd in 2024 to -170 kbd in 2025 (and-100 kbd in 2026).”

It explained that while Dangote’s petrol will primarily cater to domestic markets, the refinery is also poised to become a major suppler across Western, Central, and Southern Africa.

It added that Dangote Refinery shipped about 60,000 barrels per day in the last quarter of 2024 to Congo, Ghana, Angola, Cameroon, and others.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Olam Agri to Sustain Significant Investments in Workforce, Food Value Chain

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By Aduragbemi Omiyale

The managing director of Olam Agri in Nigeria, Mr Anil Nair, has assured us that more investments in the company’s workforce will be made for economic growth.

He gave this assurance while reacting to the recognition of the organisation as a Top Employer for the fifth consecutive time by the Top Employers Institute.

“As we celebrate this recognition, we also look to the future. Olam Agri is committed to scaling our HR practices to ensure alignment with global standards.

“We will continue to make significant investments in our people and the food value chain, enriching lives and driving economic growth.

“Our goal is to create an environment where our employees can excel and thrive, and we are dedicated to achieving this.

“Olam Agri’s continued success as a Top Employer reflects its unwavering dedication to fostering growth, well-being, and excellence in its operations,” he stated.

Also commenting, the firm’s Regional Head of Human Resources, Jaideep Biswas, said, “Our people-centric strategy aligns with the dynamic demands of the global talent landscape, embedding diversity, equity, and inclusion at the core of our operations.

“This certification validates our approach, but we’re not stopping here. We remain committed to helping our workforce thrive in a rapidly evolving work environment.”

In the annual HR Best Practices Survey of the Top Employers Institute, Olam Agri in Nigeria was named the Top Employer because of its exceptional workplace culture, innovative HR strategies, and growing appeal to talent locally and globally.

“Consistency in a not-so-consistent world is remarkable. Amidst technological advances, economic shifts, and evolving social landscapes, it’s inspiring to see organisations like Olam Agri rise to the challenge.

“This year’s certification celebrates those who continue to lead with people-first strategies, setting the standard for enriching the world of work,” the chief executive of Top Employers Institute, Mr David Plink, said.

The institute evaluates organisations based on a comprehensive survey covering six key HR domains and 20 topics: People Strategy, Work Environment, Talent Acquisition, Learning, Diversity, Equity and Inclusion, and Wellbeing.

Since 2020, Olam Agri’s operations in Côte d’Ivoire, Ghana, Nigeria, South Africa, and the Africa region have consistently earned top rankings, solidifying its reputation as an employer of choice.

As a leading agribusiness in food, feed, and fibre, Olam Agri is deeply committed to making a positive impact on its workforce, customers, host communities, and stakeholders.

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Proposed NLC Protest Over Tariff Hike Unnecessary—Subscribers

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By Adedapo Adesanya

The National Association of Telecommunication Subscribers (NATCOMS) has distanced itself from the planned industrial action by the Nigeria Labour Congress (NLC) against the recently approved telecommunication tariff hike.

According to NATCOMS President, Mr Deolu Ogunbanjo, in a statement on Thursday, the proposed protest was unnecessary, warning that it could send negative signals to investors.

Earlier this week, the Nigerian Communications Commission (NCC) approved a 50 per cent tariff adjustment in response to rising operational costs following over 11 years of discussion.

The move has raised worries and one of the parties which have been vocal about is NATCOMS.

The subscribers’ group and the labour union criticized the move, describing it as excessive and burdensome for Nigerian consumers.

On the part of the union, Mr Joe Ajaero, the NLC President, called on the industry regulator and the National Assembly to halt the 50 per cent implementation, urging Nigerian workers and the public to reject the hike, suggesting a nationwide boycott of telecommunication services as a possible course of action.

“This is for our dignity, our rights, and our survival as a people. The NLC remains resolute in defending the interests of Nigerian workers and the masses.

“We will resist this injustice and demand that the government prioritizes the interests of its citizens over corporate interests,” Mr Ajaero said.

But NATCOMS has advocated legal action and not the proposed protest.

“We do not support the Nigerian Labour Congress’ call for industrial action. No, we don’t! NATCOMS is not in support,” Mr Ogunbanjo stated.

“To investors and businesses, it is a wrong signal. Negotiation is still ongoing, and the tariff hike is scheduled for February. We still have eight days,” he added.

Business Post had reported that NATCOMS is engaging with the NCC to find a resolution and is prepared to approach the courts if consultations fail.

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Five Firms Get N16.3bn for 68km Rural Roads in Oyo

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By Modupe Gbadeyanka

Five construction companies have sealed a deal worth N16.3 billion to construct about 68 kilometres of rural roads under phase 1 of the Oyo State Rural Access and Agricultural Marketing Project (Oyo RAAMP).

The roads, according to the Commissioner for Agriculture and Rural Development, Mr Olasunkanmi Olaleye, cut across five local government areas of the state.

He said the project was expected to have a positive impact on lives of rural communities, farmers, and traders as well as market hubs to reduce post-harvest loss of agricultural products.

The Commissioner urged the firms to execute quality and satisfactory jobs since they emerged from the highly competitive bidding and procurement processes.

Mr Olaleye explained that the phase 1 intervention roads of backlog maintenance/rehabilitation and cross drainage structures would include the Fashola Farm settlement road networks in Oyo West, the Oloko Oyo Junction-Ikere Junction in Iseyin Local Government, the Alako-Idiya-Batake-Olowa Farm settlement in Ido Local Government, the Adebayo-Alata-Aba Oje in Oluyole local government, the Okudi-Oyada road in ATISBO Local Government, and the Tewure-Ila junction road in Oriire local government.

The contractors awarded the road projects are Dephhanny’s Venture Limited, Messrs CGC Nigeria Limited, Messrs Coastline Engineering Limited, Messrs Lopek Engineering and Construction Limited, and Messrs E.A.A Engineering Limited.

Speaking at the signing ceremony, the Permanent Secretary in the Ministry of Agriculture and Rural Development, Mrs Abosede Owoeye, said that the objectives align with the vision of Governor Seyi Makinde to support farmers with the necessary equipment to enhance food security, adding that this was one step closer to achieving its goals of promoting economic growth, improving livelihoods, and enhancing food security.

She, therefore, thanked the federal government, the World Bank, and the French Development Agency for the support.

In her remarks, the Oyo State Project Coordinator for Rural Access and Agricultural Marketing Project, Ms Adeola Ekundayo, urged the contractors to cooperate with stakeholders who will be monitoring their activities.

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