The Nigerian Senate has scheduled a public hearing in September to address the ongoing rift between the Dangote Group and key regulators in the oil and gas sector, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the Nigerian National Petroleum Company Limited (NNPC).
Senator Bamidele Opeyemi, Chairman of the Senate’s 15-member Adhoc Committee, announced the decision on Thursday. The committee was recently inaugurated by Senate President Godswill Akpabio to investigate and resolve disputes between the Dangote Group and sector regulators.
Opeyemi emphasized that the Senate is determined to expose any alleged saboteurs within the sector, which is critical to Nigeria’s economy, following the conclusion of the probe. He assured that the Adhoc Committee would operate effectively, unlike previous Senate Committees that have investigated the oil sector without yielding results.
“The ongoing accusations and counter-accusations between Dangote and regulators are among the issues that we have been mandated to look into,” Opeyemi stated.
The Adhoc Committee has requested all relevant stakeholders in the sector to submit necessary documents before the public hearing, scheduled for September 10-12, 2024. Opeyemi stated that the committee aims to conduct a thorough review of the current regulatory frameworks and procedures to identify deficiencies and recommend necessary reforms to prevent future disputes.
“The Committee is committed to ensuring the highest standards of fuel quality for the Nigerian market,” he added.
Parallel to the Senate’s efforts, the House of Representatives has also initiated an investigation into the dispute. Additionally, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has called an emergency meeting with Dangote, NMDPRA CEO Farouk Ahmed, Nigerian Upstream Petroleum Regulatory CEO Gbenga Komolafe, and NNPC Group CEO Mele Kyari to resolve the crisis.
The dispute was heightened after Ahmed claimed that diesel from Dangote Refinery was substandard compared to imported products, sparking mixed reactions within the industry. Dangote has dismissed these claims, insisting that products from his $20 billion refinery are of high quality.
