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Economic Issues > Blog > Uncategorized > NBA Urges Full Support for Dangote Refinery, Cites Economic Sabotage
Uncategorized

NBA Urges Full Support for Dangote Refinery, Cites Economic Sabotage

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By Reporter August 22, 2024
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L-R: Group Executive Director, Commercial Operations, Dangote Industries Limited, Fatima Aliko Dangote; President/CE, Dangote Industries Limited, Aliko Dangote; President, Nigerian Bar Association (NBA), Yakubu Maikyau; and Vice President, Oil & Gas, Dangote Industries Limited, Devakumar Edwin, during the delegates from the Nigerian Bar Association (NBA) visit to Dangote Petroleum Refinery and Fertiliser in Lagos
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NBA Urges Full Support for Dangote Refinery, Cites Economic Sabotage
By Patience Ikpeme

 

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The Nigerian Bar Association (NBA) has urged the Federal Government to ensure the full implementation of President Bola Ahmed Tinubu’s directive on the supply of crude oil to the Dangote Refinery and modular refineries across the country.

This call comes amid growing concerns over the ongoing fuel scarcity and the persistent queues at filling stations nationwide, issues that the NBA believes the Dangote Refinery can decisively address.

Describing the establishment of the Dangote Petroleum Refinery as a “nationalistic and patriotic endeavour,” the NBA expressed disappointment over the resistance the project is facing from fuel importers who have long dominated the market. Despite Nigeria’s status as one of the world’s leading crude oil producers, the country remains heavily dependent on imported refined petroleum products. This reliance has stifled the economy, causing periodic fuel shortages and associated hardships.

The NBA’s President, Yakubu Maikyau, who led other leaders and members of the association on a visit to the refinery, lauded Aliko Dangote, the President and Chief Executive of the Dangote Group, for his unwavering commitment to the project despite formidable opposition. Maikyau emphasized that Dangote’s resilience in the face of these challenges offers hope for Nigeria’s economic future.

“What I have seen today gladdens my heart, but at the same time, my heart is bleeding because of the neglect and opposition that such a laudable effort is facing. It is shameful, but as I mentioned to the President of the group, his continued steadfastness and resilience despite the opposition show that there is hope for this country. I would describe Aliko Dangote as both a freedom fighter and an economic warrior. There is no one more honourable or patriotic than Dangote. He has proven this through his actions, not just words. This isn’t about what someone might tell you; we have witnessed the enormous investments he has made in this country,” Maikyau stated.

Maikyau urged the Federal Government to create a more supportive environment for the refinery, which he believes has the potential to transform Nigeria into a net exporter of refined petroleum products. He lamented the irony that, despite the refinery’s advanced capacity, it has to import crude oil from abroad due to resistance from entrenched interests within the local market.

“I want to use this opportunity to call on the Federal Government to pay deliberate and conscious attention to what Dangote is doing. Anyone serious about turning around the fortunes of this country cannot ignore Dangote’s efforts. This is a people-centered investment that must be supported. This is the type of investment we need, and wherever such investments exist in this country, we urge the government to create an enabling environment for the benefit of the people. If we establish a supportive environment for this refinery to operate, we will eliminate the queues on our streets and resolve the difficulties associated with the scarcity of petroleum products. However, we will need the government to demonstrate a willingness to support this crucial venture. We have a facility here that can compete with the best in the world, but unfortunately, it is not receiving the support and recognition it deserves. It is disgraceful that with a refinery of this capacity, where 86 tankers can be loaded at once, we still face fuel shortages,” Maikyau added.

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The NBA’s Vice Chairman of the Epe Branch, Ivo Takor, also praised the strategic location of the Dangote Refinery in the Ibeju-Lekki-Epe axis, highlighting its potential to resolve Nigeria’s longstanding issue of fuel importation. Takor noted that the refinery’s full operation would not only alleviate the problem of fuel scarcity but also create jobs, boost foreign exchange earnings, and reduce the government’s expenditure on fuel subsidies.

“The refinery is something every Nigerian should be proud of. It is a project that will move Nigeria away from its long-standing issue of fuel importation, which comes with its own set of problems. Currently, we are dealing with fuel scarcity and long queues. I believe that once this refinery is fully operational, these challenges will be resolved. Additionally, the refinery has the capacity to export some of its products, bringing foreign exchange into the economy. It will also reduce the government’s expenditure on subsidies, allowing funds to be redirected towards improving infrastructure, education, and the health sector. Since its construction, many jobs have been created, and further job creation will follow when it becomes fully operational,” he said.

Despite the clear benefits, the NBA expressed concerns over the entrenched cartels opposing the full operation of the refinery, particularly those

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Reporter August 22, 2024 August 22, 2024
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