WE’RE BUILDING A STRONG FINANCIAL SYSTEM, BUSINESS-FRIENDLY ECONOMY, PRESIDENT TINUBU SAYS AS COCA-COLA ANNOUNCES $1BILLION INVESTMENT IN NIGERIA. (PHOTOS). #PRESS RELEASE.

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 STATE HOUSE PRESS RELEASE WE’RE BUILDING A STRONG FINANCIAL SYSTEM, BUSINESS-FRIENDLY ECONOMY, PRESIDENT TINUBU SAYS AS COCA-COLA ANNOUNCES $1BILLION INVESTMENT IN NIGERIA   President Bola Tinubu has reiterated his administration’s commitment to creating a robust financial system and a business-friendly economy that will attract more foreign direct investments.    The President made the commitment on Thursday in Abuja, as the Coca-Cola Company announced plans to invest $1 billion in Nigeria over the next five years.    The announcement was made at a meeting between the President and the global leadership team of Coca-Cola Company, led by Mr John Murphy, its president and chief financial officer, and the Chairman of Nigerian Bottling Company, Ambassador Segun Apata.    President Tinubu commended Coca-Cola for its long-standing partnership with Nigeria and for promoting investment opportunities that have employed over 3000 people across nine production facilities.    ''We are bu

DANGOTE REFINERY STILL IN ITS PRE-COMMISSIONING PHASE, YET TO RECEIVE FULL OPERATIONAL LICENCE, SAYS NMDPRA. (PHOTO).


 Dangote Refinery still in its pre-commissioning phase, yet to be full licence, says NMDPRA


The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has revealed that Dangote Refinery is still in its pre-commissioning phase and has yet to receive a full operational licence.


This is coming at a time Danote Refinery and Nigerian National Petroleum Company Limited (NNPCL) contending Premium Motor Spirit (PMS) or petrol price


The update comes amid high expectations for the Dangote Refinery, which is anticipated to significantly reduce Nigeria’s reliance on fuel imports once it achieves full operational status.


The Head of Public Affairs at NMDPRA, George Ene-Ita, clarified that the refinery is currently undergoing a phased process, with only two out of four priority sections approved for the introduction of hydrocarbons.


“The entire plant is subdivided into four sections technically referred to as priorities one, two, three, and four,” Ene-Ita explained, adding that “At this stage of pre-commissioning, only priorities one and two have been given approval to introduce hydrocarbons, which allows the plant to operate on a test-run basis.”


Under this condition, Ene-Ita said the refinery is permitted to produce petroleum products such as diesel, jet fuel, and kerosene, which are then released into the market under regulatory supervision.


This pre-commissioning phase also involves conducting rigorous pre-startup and safety audits of the facility, Ene-Ita told The Guardian.


He noted that the audits include tests on the plant’s mechanical, electrical, and instrumentation systems to ensure the refinery’s readiness for full-scale production. Ene-Ita said full production and an increased volume of PMS would only be achieved when approval is given to introduce hydrocarbons into priorities three and four.


“Once these sections are operational, the plant will undergo a 90-day observation period during which additional tests and audits will be carried out to confirm compliance with regulatory guidelines. If, after 90 days, our technical team confirms that the facility adheres to all parameters, the refinery will be issued a License to Operate (LTO), marking its full operational status,” he said.


Ene-Ita said that this procedure is standard and applies to all refineries in Nigeria.


Regarding concerns over the colour of PMS produced during the pre-commissioning phase, Ene-Ita clarified that, according to the Nigeria Industrial Standards (NIS), the specified colour for PMS is Oxblood Red. However, since the refinery is not fully operational, the colour may not yet conform to this standard.


“It’s important to note that colour is not necessarily an indicator of product quality, nor is it a quality parameter in regulatory compliance. When the Dangote Refinery becomes fully operational, it will be expected to produce PMS that conforms to the NIS colour specifications,” Ene-Ita stated.

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