President of ?angote Group of Industries, Aliko ?angote, has advised regulators of Petroleum Refinery & Petrochemical products to safeguard the market rather than undermining it.
?angote, who disclosed this during the weekend,stated that dubious certifications accompany the importation of high-sulphur diesel into Nigeria, causing both health risks and financial losses for Nigerians.
Aliko, Africa’s richest man was reacting to the statement credited to the Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Engr. Farouk Ahmed, who had alleged that ?angote Refinery and other modular refineries such as Waltersmith and Aradel produced diesel with high sulphur contents.
However, in response, ?angote opined: We produce the best diesel in Nigeria. Its disheartening that instead of safeguarding the market, the regulator is undermining it. Our doors are open for the regulator to conduct tests on our products anytime; transparency is paramount to us. It would be beneficial for the regulator to showcase its laboratory to the world so Nigerians can compare. Our interest is Nigeria first because if Nigeria doesnt grow, we have limited capacity for growth.
He revealed that ?angote Petroleum Refinery has continued to receive repeated orders for its products from all those who have purchased same since the commencement of production. According to him, the refinery has so far exported its products to some European countries, Singapore and offshore Lome.
Speaking during a tour of both ?angote Petroleum Refinery & Petrochemicals and the ?angote Fertiliser Limited complex by members of the House of Representatives, ?angote wondered why a regulatory authority like the NMDPRA, which should protect local industries is castigating the latter and even lying in media reports to justify the need to continue importation of dirty fuel into the country.
He openly challenged the regulator to compare the quality of refined products from his petroleum refinery with those imported, while advocating for an impartial assessment to determine what best serves the interests of Nigerians.
Similarly, the Vice-President of Gas and Oil at ?angote Industries Limited, Devakumar Edwin, informed the federal lawmakers that the ?angote Petroleum Refinery, designed to process a wide range of crudes, including various African and Middle Eastern crudes, as well as US Light Tight Oil, conforms to Euro-V specifications. Noting that products from the $20 billion facility are of high quality and meet international standards, Edwin said it can meet 100% of Nigerias demand for petrol, diesel, kerosene, and aviation Jet, with surpluses available for export.
On his part, the Groups Vice President, Olakunle Alake, expressed disappointment over accusations of monopoly against the Dangote Group, stressing that there are multiple players in the industry, including the Nigerian National Petroleum Company Limited (NNPCL), which operates four refineries.
In his response, the Reps. Speaker, Rt. Hon. Abass, who expressef concern over the controversy surrounding the quality of imported refined products into Nigeria, stated that the Green Chamber would establish a committee to investigate the matter thoroughly. He emphasised that sampled products from various sources would undergo testing as part of this initiative.
The Speaker also expressed admiration for the infrastructure at the ?angote Oil Refinery, describing it as a significant asset in Nigerias quest for self-sufficiency in petroleum products. He noted that the refinery has positioned itself as a pivotal player, especially at a time when global concerns over energy security and sustainability are paramount.
