Nigeria's Inflation Rate Surges to 34.8% in December Amid Festive Season Demand
Nigeria's inflation rate rose to 34.8% in December, up from 33.6% in November, driven by increased demand for goods and services during the festive season.
Sophia Steele
Dangote Refinery has taken a significant step towards reducing its environmental footprint by announcing the commencement of enhanced diesel production, meeting the Euro 5 standard. This move marks a significant reduction in sulphur content compared to previous standards, making it a cleaner and more environmentally friendly option for diesel engines.
The Euro 5 standard sets stringent limits on emissions, including particulate matter, carbon monoxide, and nitrogen oxides for both gasoline and diesel engines, as well as motorcycles. By adopting this standard, Dangote Refinery aims to reduce the sulphur content in its petroleum products by the end of February. According to reports, the refinery has been producing diesel with sulphur levels below 10 ppm since December, aligning with its commitment to lowering emissions before the year-end.
The refinery's journey to Euro 5 certified products began last year when it announced its intention to export Euro 5 standard fuels following the commencement of production at its 650,000 barrels per day facility. Devakumar Edwin, the refinery's Vice President for Oil and Gas, stated that the refinery aimed to begin exporting Euro 5-compliant diesel and selling gasoline (petrol) by June last year. Reports indicate that the refinery's diesel sulphur content has ranged between 2ppm and 3ppm, significantly lower than the previous 10ppm limit.
In addition to its diesel production, the facility is expected to begin producing 10ppm gasoline by the end of the month, ensuring compliance with Euro 5 emission standards. Currently, market participants report that the refinery produces 50ppm gasoline. The refinery's commitment to reducing sulphur content in its petroleum products is a significant step towards minimizing its environmental impact.
The refinery is expected to reach full operational capacity within a month, having already achieved 85% capacity by the end of January. This milestone is a testament to the refinery's dedication to meeting stricter emissions standards and providing cleaner fuels to the market. As the largest oil producer in Africa, Dangote Refinery's commitment to reducing its environmental footprint sets a positive precedent for the industry.
The implications of Dangote Refinery's adoption of the Euro 5 standard are far-reaching. With stricter emissions limits, the refinery is poised to play a significant role in reducing air pollution in Africa. This move is also expected to have a positive impact on the environment, as cleaner fuels will reduce the amount of pollutants released into the atmosphere. As the refinery continues to expand its production capacity, its commitment to reducing sulphur content in its petroleum products will have a lasting impact on the environment.
In conclusion, Dangote Refinery's rollout of Euro 5 diesel and commitment to reducing gasoline sulphur levels marks a significant milestone in the company's journey towards minimizing its environmental footprint. As the industry continues to evolve, it is essential for companies like Dangote Refinery to prioritize environmental sustainability and adopt stricter emissions standards. With its commitment to reducing sulphur content in its petroleum products, Dangote Refinery is setting a positive precedent for the industry and paving the way for a cleaner, more environmentally friendly future.
Nigeria's inflation rate rose to 34.8% in December, up from 33.6% in November, driven by increased demand for goods and services during the festive season.
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