2 weeks ago
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The House of Representatives Committee connected Petroleum Resources (Downstream) has declared the Dangote Refinery and different modular refineries crossed Nigeria arsenic assets of strategical nationalist interest, urging each stakeholders to unite successful protecting and promoting them arsenic catalysts for nationalist growth.
Committee chairman, Hon. Ikenga Imo Ugochinyere, made the declaration connected Monday successful Abuja, emphasising that the operations of indigenous refineries person placed Nigeria connected a caller way of concern enlargement and vigor independence.
“The Dangote Refinery and these different modular refineries are assets of strategical nationalist interest. With their elephantine strides, Nigeria proudly boasts of expanding refining capableness and concern maturation crossed the vigor worth concatenation today,” Ugochinyere said.
Highlighting large developments successful the downstream sector, the lawmaker noted that the 650,000 barrels-per-day Dangote Refinery stands arsenic Africa’s largest, redefining Nigeria’s refining scenery and boosting determination vigor stability.
He besides pointed to Indorama Petrochemicals, which has expanded its urea and fertilizer capableness to 2.8 cardinal metric tonnes per annum, arsenic a cardinal operator of cultivation advancement and state utilisation.
Similarly, helium cited the Waltersmith Modular Refinery successful Imo State, which is expanding from 5,000 to 50,000 barrels per day, alongside OPAC Refinery successful Delta State and different emerging projects successful Edo and Rivers States, arsenic shining examples of indigenous innovation and enterprise.
“These developments, supported by implicit $13 cardinal successful caller upstream investments successful 2024 alone, are wide signals of renewed capitalist assurance successful Nigeria’s vigor sector,” helium added.
Ugochinyere commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for enforcing the Domestic Crude Oil Supply Obligation (DCSO), which mandates that section refineries person guaranteed crude feedstock earlier immoderate export allocations.
“This bold determination ensures that section refineries, including modular and accepted operators, person guaranteed entree to crude feedstock earlier export allocations are made,” helium said.
“It represents a decisive displacement from argumentation rhetoric to applicable enactment for section worth addition, occupation creation, and vigor independence.”
He said the caller argumentation marks a turning constituent successful Nigeria’s pursuit of vigor self-sufficiency, ensuring that “every tube of Nigerian crude archetypal serves the Nigerian refinery.”
“The House Committee connected Downstream Petroleum Resources afloat supports this policy, which aligns with our legislative imaginativeness to prioritize home refining capacity, heighten proviso security, and fortify the naira done reduced import dependence,” Ugochinyere affirmed.
The committee president besides announced plans to prosecute caller legislative measures aimed astatine deepening section refining capableness and removing regulatory bottlene that’s fine
According to him, the House Committee will: assistance section refineries archetypal close of refusal connected crude allocations, streamline regulations to destruct unnecessary delays, develope a “Refinery Protection and Promotion Bill” to classify refineries arsenic strategical nationalist assets, ensuring they person precedence extortion and enactment and present measures that warrant unhindered entree to crude feedstock and forestall disruptions to refinery operations nationwide.
“These steps are captious to sustaining capitalist confidence, creating jobs, and strengthening our vigor independence,” Ugochinyere noted.
Addressing caller labour tensions involving the Dangote Refinery and assemblage unions, Ugochinyere said portion concern disagreements are not unusual, they indispensable beryllium resolved done dialog alternatively than disruption.
“No betterment tin win without concern harmony,” helium warned.
“We truthful telephone upon some labour unions and manufacture operators to ever prosecute dialog implicit disruptions astatine each times. The House Committee stands acceptable to facilitate peace, fairness, and communal respect successful each concern engagements.”
He added that the shared extremity of each stakeholders indispensable beryllium to support jobs, prolong businesses, and beforehand Nigeria’s economical sovereignty.
“To each operators successful the downstream sector, fto maine stress that work stands adjacent to profitability,” the lawmaker said.
Ugochinyere’s remarks came amid increasing optimism wrong Nigeria’s lipid and state industry, arsenic renewed section refining efforts and argumentation reforms statesman to reshape the nation’s energy architecture.
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