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FG Committed To Supporting Dangote Refinery, Others — Minister

Posted by Lawal Munirst on August 8, 2024 0

He stated this before a Senator Opeyemi Bamidele-led Ad-hoc Committee over alleged economic sabotage in the petroleum industry in Abuja on Wednesday.

The federal government has pledged to support the $20 billion Dangote Refinery built in Lagos.

The pledge was made by the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri.

He stated this before a Senator Opeyemi Bamidele-led Ad-hoc Committee over alleged economic sabotage in the petroleum industry in Abuja on Wednesday.

 

“We are also committed to supporting the Dangote Refinery. We are committed to supporting the modular refineries and we have been resolving whatever issue that has been brought to our attention from time to time,” Lokpobiri said.

 

“As a government, we are committed to protecting our local industries. There is no two ways. We are committed to protecting all stakeholders in the oil sector; not just one company, not just one regulator, but every stakeholder deserves protection, which is the government’s responsibility.

 

“We are committed to providing the same standard of protection for everybody. And that is what we have been doing,” the minister stated.

He also expressed the government’s commitment to completing the rehabilitation of the three state-owned refineries to “reduce the level of import that we need to be able to serve the needs of Nigerians”.

Late July, the Federal Executive Council (FEC) directed the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Refinery and other local refineries in naira and not in United States greenback.

The measure, was aimed at reducing the strain on the country’s foreign spendings and stabilise the pump price of petrol, diesel and other products in Nigeria as well as boost local production of refined petroleum products in Nigeria.

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