National Telescope national telescope newspaper
Devakumar Edwin, Vice President of Dangote Industries Limited, has alleged that International Oil Companies (IOCs) are deliberately hindering the operations of the Dangote Oil Refinery and Petrochemicals.
According to Edwin, these companies are frustrating the refinery’s attempts to purchase local crude oil, thereby forcing it to import crude from the United States at a significantly higher cost.
In addition to these accusations, Edwin criticised the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
He pointed out that the authority has been issuing licenses for the importation of substandard refined products, which not only damages the economy but also poses serious health risks to the Nigerian populace.
Despite the refinery’s capability to produce high-quality diesel, it faces considerable challenges from both IOCs and regulatory bodies.
These obstacles are detrimental to Nigeria’s economic growth and hinder job creation efforts.
The Dangote Refinery has successfully exported diesel and aviation fuel to Europe and other regions, meeting international quality standards.
Meanwhile, countries like Ghana have taken a firm stance against the importation of highly contaminated diesel and petrol, showcasing a commitment to better fuel standards.
In light of these issues, the Dangote Refinery is urging the Federal Government and the National Assembly to fully implement the Petroleum Industry Act (PIA).
The company believes that the enactment of this legislation is crucial to protecting Nigeria’s economic interests and ensuring a level playing field in the oil sector
