Minister meets oil stakeholders as Dangote regrets in investing in refinery 

The Minister of State Petroleum Resources (oil) Heineken Lokpobiri, has met with the chairman and chief executive officer of Dangote Petroleum Refinery, Aliko Dangote, and the chief executive officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, (NMDPRA)

The meeting was held on Monday, July 21, to resolve ongoing issues surrounding the Dangote Refinery, according to a statement by the minister’s special adviser on media and communication, Nneamaka Okafor.

It also focused on finding a sustainable and lasting solution to the challenges facing the Dangote Refinery, with the parties promising to jointly address the issues.

At the meeting, the minister emphasised the importance of cooperation and synergy among all stakeholders to ensure the success and optimal performance of the oil and gas sector, which is pivotal for Nigeria’s economic growth and energy security.

Dangote and the Nigerian petroleum regulator – NMDPRA – have been at daggers-drawn over his refinery’s access to Nigeria’s crude with the regulator recently casting doubt over the quality of his diesel.

The impasse between both parties also led to Dangote’s affirmation that the NNPCL did not own a 20 per cent share in his company because of failure to fulfil certain payment obligations.

The business mogul had admitted regrets, in investing over $20 billion in the refinery.

He has been lamenting how difficult it has been to get the feedstock required to keep his company’s 650,000 capacity running, compelling it to source crude oil supply from Brazil and the United States.

Against this backdrop, the minister said that the meeting marked a significant step towards resolving the challenges and underscored his dedication to fostering a conducive environment for Nigeria’s oil and gas sector.

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