International Oil Companies (IOCs) in Nigeria have been accused by Devakumar Edwin, Vice President, Dangote Industries Limited, of taking all possible actions to thwarted the survival of Dangote Refinery and Petrochemicals.
The IOCs are allegedly harming the refinery's ability to purchase local crude by pushing up markups above market prices, which results in having to import crude oil from abroad at higher rates. According to him, this is done on purpose.
During a day-long training program organized by the Dangote Group, Edwin addressed an audience of energy editors and expressed his dissatisfaction with the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA)'s randomly issuance and introduction of licenses to traders importing unclean refined products into the country.
He said: “The Federal Government has issued 25 licenses to build refineries but we are the only ones who are keeping up with that promise. In fact, we deserve every support from the government.
We are pleased to say that since production began, over 3.5 billion litres, or 90% of our production, has been exported.