The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has emphasized the Federal Government’s commitment to supporting the $20 billion Dangote Refinery.
Addressing an Ad-hoc Committee chaired by Senator Opeyemi Bamidele in Abuja on Wednesday, August 7 Lokpobiri stressed the government’s dedication to bolstering the refinery, alongside other modular refineries.
“We are fully committed to supporting the Dangote Refinery, as well as modular refineries, by addressing any issues brought to our attention.
“As a government, our priority is to protect local industries. This extends not only to one company or regulator but to all stakeholders in the oil sector, ensuring they receive the protection they deserve.” Lokpobiri maintained.
While highlighting the government’s ongoing efforts to rehabilitate the three state-owned refineries, a move aimed at reducing the country’s reliance on imported petroleum products, Lokpobiri noted that completing the rehabilitation of these refineries is crucial to decreasing the level of imports necessary to meet the needs of Nigerians.
Recall that in late July, the Federal Executive Council (FEC) issued a directive to the Nigerian National Petroleum Company (NNPC) Limited, mandating the sale of crude oil to the Dangote Refinery and other local refineries in naira rather than U.S. dollars.
A measure intended to alleviate pressure on the country’s foreign exchange reserves, stabilize the prices of petrol, diesel, and other products, and improve local production of refined petroleum products.
