Nigerian experts are urging the federal government to resolve issues and support the $20 billion Dangote Refinery to attract more local and foreign investments.
Despite the refinery being in the pre-commissioning stage and not yet licensed, experts believe it has the potential to boost Nigeria’s economy.
Founder of Spark Nigeria, Chinedu Amah, emphasized the importance of government support for local production, stating, “The more the federal government allows Dangote to keep importing crude oil and keep importing petrol, then how can our economy pick up? The Dangote refinery is a more advanced modern refinery than all our other refineries, so it can distillate and treat most of the crude oil to a standard sulfur level. All the noise they are making is politics to cover and give flimsy reasons for their continuous importation.”
National President of OGSPAN, Mazi Colman Obasi, called for all parties to resolve issues, saying, “Mr. Aliko Dangote has come a long way. Remember, he bought government refineries before. It did not work out, thus forcing him to start the construction of the new refinery. I do not have all the facts in the current debate or conflict. Whatever the case may be, I call on all parties, including the federal government, Dangote refinery, International Oil Companies, IOCs, to resolve all the issues. This will encourage more investments in the midstream and downstream sectors of Nigeria’s economy.”
Another expert, who pleaded anonymity, criticized the government’s approach, saying, “Our government wants foreign investors to bring their monies into this country. Yet, the same officials are on National TV disparaging a $20 billion investment. Imagine stating on TV that the products from a refinery in your country are inferior to imported ones, demarketing a locally owned private business.”
The CEO of NMDPRA, Farouk Ahmed, clarified that the refinery is still in the pre-commissioning stage and has not been licensed, adding, “Dangote refinery is still in the pre-commissioning stage. It has not been licensed yet. We have not licensed them yet. I think they are at about 45 percent completion. So we cannot rely heavily on one refinery to feed the nation because Dangote is requesting that we should suspend or stop all importation of petroleum products, especially automotive gas oil or jet kero and direct all marketers to the refinery.”
