The Nigerian Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Senior Staff Association of Nigeria have urged President Bola Tinubu to support the Dangote refinery and look into claims by its officials that some foreign oil companies were planning to sabotage its success.
In a letter dated July 1 and addressed to the President through his Chief of Staff, Femi Gbajabiamila, the unions expressed their deep concern and shock at the Dangote Refinery and Petrochemicals Company’s recent unusual allegations of a deliberate plot by some international oil companies to thwart their business efforts and continued existence.
“The Dangote Refinery is not only an important national asset, but also a source of optimism for our energy security, economic growth, and job prospects. The economic benefits of a local refinery with the capability of Dangote’s to Nigeria cannot be emphasized. This is why, for numerous decades, NUPENG and PENGASSAN have strongly advocated that Nigeria require firms that wish to benefit from JVC agreements with Nigeria to establish a refinery/petrochemical company in Nigeria.
Marketers ask FG to form unbiased commissions. The petroleum workers urged that the Federal Government establish an independent committee to investigate charges of sabotage made by certain IOCs. They urged that the investigation be comprehensive and transparent in order to hold all parties accountable.
In order to maintain transparency and public confidence, they also demanded that the investigation’s findings be made public, stating that Nigerians had a right to know the truth about the IOCs’ actions and how they damaged the country’s interests. “If the charges are proven, we expect the government to take strong legal action against the parties implicated. This must include punishments, penalties, and any additional actions required to discourage future acts of economic sabotage.
The government should offer all essential assistance to guarantee the Dangote Refinery’s smooth start and operation. This involves assuring the security and stability of the refinery’s operations.
Petrol sales at $20 billion. The Dangote refinery in Lekki, Lagos State, is expected to start soon.
Aliko Dangote, head of the Dangote Group, has vowed that his refinery would never longer import refined petroleum products into Nigeria or any other African country. The industry is concerned about the IOCs’ alleged unwillingness to supply oil to the refinery, however. Devakumar Edwin, Vice President of Oil and Gas of Dangote Industries Limited, recently remarked, “It appears that the IOCs’ goal is to ensure that our petroleum refinery fails.” They are either purposely asking for a ridiculous/humongous premium or just stating that crude is unavailable.
“At some time, we paid $6 more than the market price. This has prompted us to restrict output while also importing oil from places as far away as the United States, raising our production costs.”
Dangote announces sale of fuel
Dangote Oil Refinery and Petrochemicals corporation can alleviate Nigeria’s foreign exchange (forex) crisis and the enormous pressure it puts on the local Naira currency, according to S&P Global, an international financial analytics firm. As part of its examination of Nigeria’s sovereign credit ratings, S&P Global, which has its headquarters in Manhattan, New York City, divulged this information while on site at the Dangote Refinery in Ibeju-Lekki, Lagos.
According to S&P, Nigeria’s oil sector and developing economy would profit from the world’s largest single-train refinery complex.
