{"id":129912,"date":"2024-09-04T15:37:20","date_gmt":"2024-09-04T14:37:20","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja"},"modified":"2024-09-04T16:42:35","modified_gmt":"2024-09-04T15:42:35","slug":"dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja","title":{"rendered":"Dangote Refinery: Capturing by-products left in \u2018Malta\u2019 locally biggest benefit \u2013 Kalu Aja"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Nigeria. <\/strong><\/span>Kalu Aja, a financial analyst and educator, says the real benefit Dangote Refinery brings is that associated by-products Nigeria left in \u2018Malta\u2019 will now be captured locally.<\/p>\n<p>Aja described Dangote Refinery as the biggest game changer in Nigeria since the emergence of Nigeria Liquefied Natural Gas, NLNG.<\/p>\n<p>In a post on his X handle on Wednesday, the financial expert noted that while Dangote Refinery saves the country the transportation associated cost previously paid in dollars to bring crude to Nigeria, insurance, interest and other costs still remain.<\/p>\n<p>Speaking further, Aja said Nigerians shouldn\u2019t expect the Premium Motor Spirit, PMS, bill to substantially drop unless the government subsidizes crude oil and dollar exchange rate.<\/p>\n<p>The post read: \u201cThe Process of getting PMS from Crude.<\/p>\n<p>\u201cExtract crude oil, Transport crude oil to refinery, Refine to PMS and others byproducts, Take PMS from refinery, and Market.<\/p>\n<p>\u201cStep 1 to 5 are same if the refinery is in Lagos State or Malta.<\/p>\n<p>\u201cDangote Refinery will save $ cash , yes but where?<\/p>\n<p>\u201cCrude oil extraction? No, same cost wherever its refined, crude oil is priced in $ not Naira. If Dangote pays Naira, Nigeria loses $ revenue. This is the highest cost.<\/p>\n<p>\u201cTake Crude to Refinery? Yes, Instead of taking crude to \u201cMalta\u201d, it will be taken to Lagos.<\/p>\n<p>\u201cRefine? same cost, if refinery is in Lagos or \u201cMalta\u201d.<\/p>\n<p>\u201cTake PMS from refinery? Yes instead of transferring from \u201cMalta\u201d, its from Lagos. still a cost, but lower.<\/p>\n<p>\u201cMarket? no same cost where ever its refined.<\/p>\n<p>\u201cThus what Dangote Refinery saves is the Transportation associated cost, previously paid in $ to bring crude from \u201cMalta\u201d to Lagos.<\/p>\n<p>\u201cNigeria still pays for insurance, interest etc. These are still related costs. Or are the ships insured locally or produced locally?<\/p>\n<p>\u201cWhen you say Dangote Refinery reduces $ demand, i agree but not to the extent you claim. Remember Dangote is paying in Naira meaning its a net off of FX loss from Naira purchase and lower demand for FX.<\/p>\n<p>\u201cThe real benefit Dangote Refinery brings is that those associated byproducts that we left in \u2018Malta\u201d will now be captured by Dangote locally. Thus Nigeria will earn MORE by exporting those byproducts, so net net, the Dangote Refinery earns Nigeria more FX.<\/p>\n<p>\u201cThe Dangote Refinery is the biggest game changer in Nigeria since NLNG, but your PMS bill will not substantially drop, unless the Federation subsidizes crude oil and $ exchange rate.\u201d<\/p>\n<p><strong>For More News And Analysis About Nigeria Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Nigeria. Kalu Aja, a financial analyst and educator, says the real benefit Dangote Refinery brings is that associated by-products Nigeria left in \u2018Malta\u2019 will now be captured locally. Aja described Dangote Refinery as the biggest game changer in Nigeria since the emergence of Nigeria Liquefied Natural Gas, NLNG. In a post on his [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":129910,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,14],"tags":[10513,14047,14654,254],"class_list":["post-129912","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-dangote-refinery","tag-kalu-aja","tag-malta","tag-nigeria"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Dangote Refinery: Capturing by-products left in \u2018Malta\u2019 locally biggest benefit \u2013 Kalu Aja - Nigeria<\/title>\n<meta name=\"description\" content=\"Kalu Aja, a financial analyst and educator, says the real benefit Dangote Refinery brings is that associated by-products ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote Refinery: Capturing by-products left in \u2018Malta\u2019 locally biggest benefit \u2013 Kalu Aja\" \/>\n<meta property=\"og:description\" content=\"Kalu Aja, a financial analyst and educator, says the real benefit Dangote Refinery brings is that associated by-products ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-04T14:37:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-04T15:42:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/09\/sm_1725451935.854352.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"804\" \/>\n\t<meta property=\"og:image:height\" content=\"411\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Dangote Refinery: Capturing by-products left in \u2018Malta\u2019 locally biggest benefit \u2013 Kalu Aja\",\"datePublished\":\"2024-09-04T14:37:20+00:00\",\"dateModified\":\"2024-09-04T15:42:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja\"},\"wordCount\":420,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2024\/09\/sm_1725451935.854352.jpg\",\"keywords\":[\"Dangote refinery\",\"Kalu Aja\",\"Malta\",\"Nigeria\"],\"articleSection\":[\"all news\",\"Policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/policy\/dangote-refinery-capturing-by-products-left-in-malta-locally-biggest-benefit-kalu-aja\",\"name\":\"Dangote Refinery: Capturing by-products left in \u2018Malta\u2019 locally biggest benefit \u2013 Kalu Aja - 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