Dangote Industries Limited (DIL) has leveled serious accusations against International Oil Companies (IOCs) operating in Nigeria, claiming they are deliberately trying to cripple the operations of the Dangote Refinery. Devakumar Edwin, Vice President of Oil and Gas at DIL, revealed that IOCs are frustrating the refinery’s efforts to purchase local crude oil by imposing exorbitant premium prices above market rates.
This alleged sabotage has forced the refinery to import crude from countries as far as the United States, significantly increasing production costs. Edwin also criticized the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for granting licenses to marketers to import substandard refined products into Nigeria.
The Dangote executive called on the Federal Government and regulators to provide necessary support to create jobs and prosperity for the nation. He highlighted that since the start of production, the refinery has exported more than 3.5 billion liters of products, representing 90% of its output.
Edwin warned that the actions of IOCs appear aimed at ensuring Nigeria remains dependent on imported refined products while exporting its crude oil. He urged the government to intervene and implement the Petroleum Industry Act fully to protect Nigerian interests and support local refining capacity.
