650,000bpd refinery was built without Nigerian government incentive – Dangote - Ripples Nigeria
Connect with us

Business

650,000bpd refinery was built without Nigerian government incentive – Dangote

Published

on

Africa’s richest man, Alhaji Aliko Dangote, claimed on Tuesday the 650,000-barrel-per-day refinery was built without a single incentive from the Federal Government.

The billionaire industrialist has been having a running battle with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over several issues since the refinery commenced operation in August.

It took the intervention of the Minister of State for Petroleum (Oil) Heineken Lokpobiri, to resolve the imbroglio.

READ ALSO: Dangote Refinery turns attention to local supply, to receive 24m barrels in two months

However, Dangote in his address at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit in Lagos on Tuesday disclosed how the Refinery was built without a single incentive from the government.

Dangote, who was represented at the event by Mr. Ahmed Mansur of the Dangote Group, stressed the need for investor incentives to achieve the country’s goal of becoming a refining hub.

He said Nigeria would need to develop up to 1.5 million barrels per day of refining capacity supported by the government and collaboration among industry stakeholders to realize the vision of making the country a net exporter of petroleum products.

Dangote said: “We built the Dangote Refinery without a single incentive from the government. However, to achieve the vision of turning Nigeria into a refining hub, investors need to be incentivized.”

 

 

 

 

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Exit mobile version