Dangote Group of Companies has disclosed that its fertilizer products will be out in the market before the end of November 2020.
The Group Executive Director, Projects and Portfolio Management, Dangote Refinery, Edwin Devakumar made this disclosure in an interactive session held yesterday in Lagos.
Edwin also disclosed that Dangote Refinery is expected to be ready by the middle of next year as the construction of the refinery is still at 60 per cent while its overall percentage which consists of engineering, design as well as procurements is at 80 per cent.
On whether the refinery would have an impact on the price of fuel, he noted that this is a basic principle of demand and supply.
“Dangote fertilizer products will be out in the market before the end of November (2020).
“Looking exclusively at construction, we have arrived at 60 per cent but overall, we are at 80 per cent.
“The reason is that we had the impact of the COVID-19 because many of the countries where our equipment was being manufactured were affected and so now we hope to complete everything and make it fit or ready by the middle of next year and then start the commissioning process which will take up to 3-4 months because it is a huge refinery.
“We will then start by bringing our products to the market. So by last quarter next year, we should have our products coming into the market.
“Where the demand exceeds the supply, the prices go up and when supply exceeds demand, the prices will come down”., He said.
Meanwhile, Devakumar refuted reports stating that a worker was shot and killed by policemen while protesting at the Refinery on Tuesday.
The Director described the reports as false and malicious.
He explained that the protesters were not the company’s employees but sub-contractors locked in a pay dispute with their employer and added that the Group has stepped in to resolve the dispute.
“It is very unfair and malicious of some of these online media reports making rounds that we ordered policemen to shoot.
“This is very false and not true”, he said.