In a recent call to action, President Bola Tinubu has been urged to ensure the full implementation of his directive mandating the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Refinery and other modular refineries in Naira rather than Dollars. This directive, confirmed by the federal government, will take effect on October 1, 2024.
During a visit to the Dangote Refinery in Lagos, the Nigerian Bar Association (NBA) praised the establishment of the refinery as a patriotic and nationalistic endeavor. However, the association expressed frustration over significant opposition from fuel importers who have hindered the project and continued to burden the economy with reliance on imported refined petroleum products, despite Nigeria’s status as a major crude oil producer.
The NBA’s leadership emphasized the considerable investments made by Aliko Dangote in Nigeria and described him as a “freedom fighter” and “economic warrior” who has demonstrated unparalleled commitment to the nation. They criticized the resistance faced by Dangote’s initiative, calling it shameful and detrimental to national progress.
The NBA chief appealed to the federal government to foster a supportive environment for the refinery, stressing that such investments are crucial for transforming Nigeria into a net exporter of refined petroleum products and alleviating the severe fuel scarcity affecting the country. He argued that the opposition to Dangote’s refinery undermines the potential benefits of the project and exacerbates the challenges associated with fuel shortages.
He also highlighted the advanced capabilities of the Dangote Refinery, which can load 86 tankers simultaneously, yet still faces significant challenges due to lack of support and recognition. The NBA chief’s remarks underscored the urgent need for government backing to optimize the refinery’s operations and resolve the persistent issues related to fuel scarcity.
Mr. Devakumar Edwin, Vice President (Oil & Gas) at Dangote Industries Limited, reaffirmed that the refinery’s primary objective is to process local crude oil for domestic use and export excess production to enhance the Nigerian economy.
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