Dangote Wants Us To Stop Importation Of Fuel, Direct All Marketers To His Refinery – Nigerian Agency

According to Channels Television, Aliko Dangote, billionaire businessman, has requested the suspension of fuel importation into Nigeria, directing all oil marketers to purchase exclusively from his refinery. This information was revealed by Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in a video released by the State House media on Thursday.

Ahmed disclosed that Dangote’s proposal aims to ensure that all fuel marketers patronize his Lagos-based refinery. However, the NMDPRA has reservations about approving such a request, citing concerns over monopoly and the quality of oil produced by Dangote’s refinery.

“Dangote is requesting that we suspend or stop importation, especially of AGO and DPK, and direct all marketers to his refinery. That is not good for the nation in terms of energy security, and it is not good for the market because of the monopoly,” Ahmed stated.

He further mentioned that the Dangote Refinery is still in the pre-commissioning stage and has not yet been licensed. “We haven’t been licensed yet,” he added, noting that the refinery is approximately 45% complete.

Ahmed raised concerns about the quality of products from the Dangote Refinery, stating that they are inferior to imported ones. “Dangote Refinery, along with other major refineries, produces between six hundred and fifty to one thousand two hundred parts per million (PPM). Therefore, in terms of quality, their products are inferior to imported ones,” he explained.

The Prepare chief emphasized the importance of maintaining diverse sources of fuel supply to ensure energy security and prevent market monopolies…..See_More