Tajudeen Abbas, the Speaker of the House of Representatives, has explained that lawmakers are committed to addressing all issues affecting the ease of doing business in Nigeria amid challenges surrounding the full take-off of the Dangote Refinery. ..Read Full Article
The Speaker said this when he led the leadership of the House of Representatives on familiarization visit to Dangote Refinery on Saturday.
Speaking after they were conducted around the facility by the President of the Dangote Group, Aliko Dangote, Abbas noted that the tour was part of continuous efforts to understand and support key industries in the Nigerian economy.
“The purpose of this visit is to provide the House Leadership and the relevant oil and gas committees with an in-depth understanding of the nature, scope and activities of the Dangote Refinery. This initiative aligns with our legislative agenda, which aims to support the President’s Renewed Hope Agenda, focusing on economic transformation, growth and development.
“This familiarisation tour underscores our commitment to engaging with and supporting critical sectors that drive our economy. Also, this visit provides valuable insights that will inform our legislative measures and decisions.
“We remain dedicated to fostering an environment conducive to economic growth and development, ensuring that our legislative actions align with the broader goals of national progress as articulated by President Bola Ahmed Tinubu.
“We are acutely aware of the challenges facing the private sector in Nigeria, including regulatory hurdles, infrastructure deficits, and access to finance. The House of Representatives is committed to addressing these issues and improving the ease of doing business in our country.
“We are working diligently to create a more business-friendly environment through legislative reforms that streamline processes, reduce bureaucracy, and enhance transparency. Our goal is to make Nigeria an attractive destination for both local and international investors.
“However, the journey does not end here. There is always more we can do together to bolster our economy.
“I encourage Dangote Group to continue exploring avenues to complement government initiatives. By investing in renewable energy, enhancing corporate social responsibility programs, and fostering innovation through research and development, Dangote can further solidify its role as a key player in our economic landscape,” he said.
The visit comes amid the outrage which followed the revelation by the Chief Executive Officer of Downstream Petroleum Regulatory Authority, Farouk Ahmed, that Dangote Refinery’s petroleum products are inferior to imported ones.
Ahmed had also said that the Dangote Refinery has not been licensed to operate, noting that it is risky to make the company’s petroleum products monopoly in the sector.
The development has resulted in confusion in the country’s oil and gas sector.
A former Chief Operating Officer, Upstream Operations in the NNPCL, Engineer Bello Rabiu, said the NNPCL is a monopoly in the sector.
Recall that the Vice President of Dangote Industries Limited, Devakumar Edwin, had alleged that International Oil Companies in Nigeria are frustrating Dangote Refinery by selling crude oil at higher prices.
This comes after the Chairman of Dangote Group, Aliko Dangote announced that the 650,000 barrels per day refinery would kick off the supply of fuel by August.
Dangote had said if his refinery comes onboard, Nigeria would stop the importation of fuel which sold around N617-N750 per liter.
Earlier on June 3, 2024, the Senate, led by the Senate President, Godswill Akpabio, had visited the Dangote Refinery.
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