Page 14 - DMEA Week 37 2021

DMEA NEWS IN BRIEF DMEA

decades. Many past and current Nigerian products before the second half of next year. videos posted on social media showed
officials, including President Muhammadu Swiss traders like Vitol along with Nigerian interviews with Iranian truckers who said
Buhari, have announced plans to refurbish firms, have cashed-in for years in gasoline- they had instructions from Armenia to deliver
them, but political will has been lacking. short Nigeria by supplying mega tenders and their supplies to Stepanakert (known to
The Natural Resources Governance being part of lucrative crude-for-fuel swap Azerbaijanis as Khankendi).
Institute, a non-profit policy think tank, has deals for over a decade. “From July 11 to August 8, 35 Iranian
previously pointed to the moribund refineries Getting a hold of Dangote’s fuel will give vehicles entered and exited 70 times through
as a key focus of oil corruption and waste in the trader a stranglehold on a key set of new the Lachin corridor,” Mammadov said.
the country. oil flows. Nigeria’s new oil bill, approved He added: “In this regard, [previously] on
Hit by economic consequences of last month after nearly 20 years of political August 11, Iranian Ambassador to Azerbaijan
the COVID-19 pandemic and soaring wrangling, has added fuel-import license Abbas Mousavi was summoned to the foreign
construction costs, Dangote needs a cash requirements that experts fear will give ministry and was handed a note in which
injection. Dangote an effective monopoly. the concerns of the Azerbaijani side were
Nigeria’s state oil firm NNPC has agreed Under the new laws, the regulator will expressed. Unfortunately, although a month
to buy a 20% stake in the refinery for about prioritize local refiners for import licenses has passed since then, the Iranian side has
$2.8 billion, but Dangote is looking for and volumes would be based on production still not responded to the protest of Baku
outside cash. NNPC’s head Mele Kyari said capacity or market share. and continues to illegally transport goods to
a process was ongoing to raise $1 billion While Nigeria will remain open in Karabakh.”
with Afreximbank to fund part of its stake theory to international trading houses, a BNE
purchase. partnership with Dangote would be the only
The billionaire has held talks as recently as way to guarantee a foothold in Africa’s biggest
a month ago with executives from the world’s economy. TERMINALS & SHIPPING
top two oil traders – Trafigura and Vitol, REUTERS
three sources with direct knowledge of the Govt may close Ikorodu
matter said.
Dangote’s management denied the talks. FUELS terminal
“The company is not in any talks with
the aforementioned oil traders to seek a loan Baku complains about Strong indications have emerged that the
to finance our project,” the management of Federal Government may shut down the
Dangote Industries Ltd said in a statement. Iranian fuel transit Ikorodu Lighter Terminal in Lagos over
Trafigura and Vitol declined to comment. the recent alarm raised by the Nigeria Ports
Two separate sources with direct Iran has again come under fire from Authority (NPA) on some explosive overtime
knowledge of the matter said the option of Azerbaijan for allegedly letting trucks cross on cargoes.
raising another $500 million from a trade to Azerbaijani territory without permission Members of the Governing Board, NPA,
house or consortium was being explored. to supply fuel and other goods to Nagorno- had recently expressed worries over some
The details of a potential loan from a Karabakh territories still under the control of overtime cargoes that have been abandoned
trading firm have not been finalized but the ethnic Armenians. for over 44 years at the facility, even as they
trader could receive a long-term contract to Azerbaijani MP Jeyhun Mammadov hit out called on management of the Nigeria Customs
supply crude and receive cargoes of refined at Iran for what he claimed was the use of road Service to expedite actions to evacuate some
products as repayment. segments leading to the disputed breakaway of the detained consignments.
The refinery has been delayed by several territory conducted without consultation Speaking with our correspondent recently
years and the cost has ballooned to $19 billion with Baku, which controls the parts of the on the next line of actions by the NPA Board
from Dangote’s earlier estimates of $12-14 highways concerned, Trend reported on in furtherance to the evacuation of the
billion. Construction was also delayed due to September 12. dangerous cargoes, one of the board members,
COVID-19 outbreaks among workers at the Unverified CCTV footage released Hon. Ghazali Mohammed Mijinyawa, said
site and delays getting materials, two more by Azerbaijani officials appears to show government might shut down the facility due
sources said. several Iranian petrol tankers crossing on to to high risk involved.
Many industry sources do not expect any Azerbaijani territory. Earlier unconfirmed The board member reiterated that the

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