Fuel price: Dangote Refinery did what Shell, ExxonMobil, other IOCs can’t do in Nigeria – Devakkumar
Here, a Nigerian company took up the challenge that nobody, like Shell, Chevron or ExxonMobil, has ever done in any part of the world
The Vice President of Oil and Gas at Dangote Industries Limited, Devakkumar Edwin , has said Dangote Refinery has done what Shell, ExxonMobil, Chevron, or other international oil companies can’t do by building a $20 billion plant in Nigeria.
He disclosed this on Wednesday while receiving members of the Senate Committee on Trade and Investment at the refinery complex in Lekki, Lagos State.
Edwin told the senators, led by the Chairman of the Committee, Sadiq Umar, that Dangote Refinery, a Nigerian company, took up the challenge to build the largest single-train refinery in the world.
He said about six companies in the world could do the same.
“Here, a Nigerian company took up the challenge that nobody, like Shell, Chevron or ExxonMobil, has ever done in any part of the world. So, the Nigerian company—Dangote Projects Limited—took up the challenge and built the refinery on time. And this is the world’s largest single-train refinery,” he said.
On his part, the Chairman of the Senate Committee on Trade and Investment, Umar, assured the refinery of the National Assembly’s support.
According to him, the $20bn project is a national asset that must be protected.
“For us as legislators, you can rest assured that we know what you have done here; we know what it means to the country. We will do anything within our power to see how we can support you to succeed so that Nigeria can succeed.
“This investment we have seen here is an investment for the country and the world, not necessarily for Dangote himself. It is our responsibility to see what we need to do to encourage him
“I am sure you can see a lot of actions in what the president has done to support him so that the country will be better for it,” the senator stated.
This comes as Bloomberg reported on Wednesday that the 650,000-barrel-per-day Dangote Refinery has resumed crude imports from the United States after three months to ramp up production capacity.
The development may not be unconnected to the inadequate supply of crude by the Nigerian National Petroleum Company Limited despite the naira-for-crude-sales deal between the Nigerian government and Dangote Refinery.
Recall that fuel prices had recently dropped marginally to between N1060 and N1115 per litre in petrol filling stations. This comes after Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria agreed on the direct sale of the product. More
