23.7 C
Lagos
Thursday, July 3, 2025

Mail

spot_img

Nigerian Government Moves to Resolve Dangote Refinery Dispute Amid Business Climate Concerns

The Nigerian Federal Government, through the Minister of Petroleum Resources, appears to be moving to mitigate the damage to Nigeria’s business climate profile created by the ongoing faceoff between Dangote Refinery and some government regulators.

Aliko Dangote, the president of Dangote Group and one of Nigeria’s biggest private investors, has been complaining of a conspiracy blocking his attempts to obtain adequate crude oil from domestic sources and import it.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA CEO Farouk Ahmed, claimed that Dangote was not fully licensed for operation and that the company was producing poor-quality products. He said that the government needed to stop the refinery from becoming so big that it became a monopoly.

Dangote refuted claims that his diesel product was below international standards, and the Nigerian House of Representatives promised to investigate.

Recognizing the potential damage to Nigeria’s investment climate image abroad, the government appeals to dial back its stance. The Minister of State for Petroleum Resources, Sen. Heineken Lokpobiri, took a proactive step. He convened a high-level meeting with key stakeholders today to address the issues surrounding the Dangote refinery.



The meeting underscored the crucial role of cooperation and synergy among all stakeholders in the Oil and Gas sector. This collective effort is essential for ensuring the success and optimal performance of the sector, which is vital for Nigeria’s economic growth and energy security.

The details of the meeting’s outcome were not disclosed to the public, but it is believed that the impasse may have been resolved.

Whichever way it goes, observers will be closely watching the developments to see if regulatory pronouncement are sincere or often tainted with political considerations.

Comment, Like 👍, share this article, and Follow us on our social media handles.
0 0 votes
Article Rating
- Advertisement -
×

Join Our News Channels

WhatsApp WhatsApp Channel Telegram Telegram Channel

Please Take a Short Survey

spot_imgspot_img
Subscribe
Notify of
guest


This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
spot_img
LISTEN TO THE NEWS

Related Articles

Click Target 💠 For Your Local Weather Update

Lagos
light rain
23.8 ° C
23.8 °
23.8 °
95 %
3.3kmh
100 %
Fri
24 °
Sat
25 °
Sun
28 °
Mon
29 °
Tue
25 °
- Advertisement -spot_imgspot_img

Follow Us

1,656FansLike
8FollowersFollow
0FollowersFollow
0FollowersFollow
27FollowersFollow
4SubscribersSubscribe

Subscribe to our Newsletter

Latest news updates sent each morning direct to your mailbox.

Latest Articles

0
Would love your thoughts, please comment.x
()
x
Let's chat on WhatsApp

How can I help you? :)

05:34
Hide WhatsApp Form
Contact JolibaLive