Oil minister, Lokpobiri, wades into face-off between Dangote, regulatory agencies, IOCs

The Minister of State Petroleum Resources [Oil] Heineken Lokpobiri has waded into the ongoing face-off between the Chairman and CEO of Dangote Group, Aliko Dangote and regulatory authorities in the oil and gas sector over issues surrounding the Dangote Refinery and Petro Chemical Plant.

Dangote and Nigeria’s oil industry regulatory authorities like Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have been at loggerheads in recent weeks over the 650,000bpd refinery located in the Ibeju-Lekki area of Lagos State.

Things escalated on July 18, when Farouk Ahmed, the chief executive officer of NMDPRA had said local refineries, including the Dangote refinery, were producing inferior products compared to the ones imported into the country.

The oil regulator also accused Dangote of plans to monopolize the sector.

Dangote while conducting the leadership of the House of Representatives around the $20bn refinery over the weekend, denied both claims.

READ ALSO:Dangote Refinery insists IOCs frustrating crude purchase

Wading into the ongoing face-off, Lokpobiri on Monday convened a high-level meeting with Dangote and relevant stakeholders over issues surrounding the Dangote Refinery.

“I convened a high-level meeting with top executives from Dangote Group, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian National Petroleum Corporation Limited (NNPC) to address the ongoing issues surrounding the Dangote Refinery.

The meeting, according to the minister, “was a collaborative effort to find sustainable solutions to the challenges affecting the refinery. All parties involved demonstrated a strong commitment to proactive problem-solving and expressed their gratitude for the leadership and timely intervention provided.

“I emphasized the critical importance of cooperation and synergy among all stakeholders to ensure the success and optimal performance of Nigeria’s oil and gas sector, which is essential for the country’s economic growth and energy security” the Minister said in a statement posted on his X platform late on Monday.

By: Babajide Okeowo

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