Speaker of the House of Representatives, Tajudeen Abbas, has reaffirmed lawmakers’ commitment to addressing issues affecting the ease of doing business in Nigeria.
This statement comes in light of challenges faced by the Dangote Refinery as it gears up for full-scale operations.
On Saturday, Abbas led the House leadership on a familiarization visit to the Dangote Refinery. The tour, conducted by Aliko Dangote, President of the Dangote Group, aimed to enhance lawmakers’ understanding and support for key industries in Nigeria.
“The purpose of this visit is to provide the House Leadership and the relevant oil and gas committees with an in-depth understanding of the nature, scope, and activities of the Dangote Refinery,” Abbas said. “This initiative aligns with our legislative agenda, which aims to support the President’s Renewed Hope Agenda, focusing on economic transformation, growth, and development.”
Abbas emphasized that the tour underscored the House’s commitment to engaging with and supporting sectors crucial to Nigeria’s economy. He noted that insights gained from the visit would inform future legislative measures and decisions.
“We are dedicated to fostering an environment conducive to economic growth and development,” Abbas stated. “Our legislative actions will align with the broader goals of national progress as articulated by President Bola Ahmed Tinubu.”
Acknowledging the challenges faced by the private sector in Nigeria, including regulatory hurdles, infrastructure deficits, and access to finance, Abbas assured that the House of Representatives is committed to improving the ease of doing business in the country. He highlighted ongoing legislative reforms aimed at streamlining processes, reducing bureaucracy, and enhancing transparency to attract local and international investors.
“We encourage the Dangote Group to continue exploring avenues to complement government initiatives,” Abbas added. “By investing in renewable energy, enhancing corporate social responsibility programs, and fostering innovation through research and development, Dangote can further solidify its role as a key player in our economic landscape.”
The visit occurs amid controversy sparked by Farouk Ahmed, Chief Executive Officer of the Downstream Petroleum Regulatory Authority, who revealed that the Dangote Refinery’s petroleum products are inferior to imported ones. Ahmed also noted that the refinery has not been licensed to operate, raising concerns about the potential monopoly of its products in the sector.
Former Chief Operating Officer of Upstream Operations in the NNPCL, Engineer Bello Rabiu, also commented on the issue, stating that the NNPCL remains a monopoly in the sector.
The Vice President of Dangote Industries Limited, Devakumar Edwin, had earlier accused International Oil Companies in Nigeria of frustrating the refinery by selling crude oil at higher prices.
These developments follow Aliko Dangote’s announcement that the 650,000 barrels per day refinery would begin fuel supply by August, potentially ending Nigeria’s reliance on imported fuel, which currently sells for N617-N750 per liter.
On June 3, 2024, Senate President Godswill Akpabio led a similar visit to the Dangote Refinery, reflecting the ongoing legislative interest in the facility’s progress.
