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FG Frowns at Dangote Refinery’s Crude Oil Imports See Why

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FG Frowns at Dangote Refinery's Crude Oil Imports See Why
ABUJA,(iexclusivenews) – The Federal Government of Nigeria has expressed surprise at reports that Dangote Refineries is importing crude oil from the United States, despite the country’s abundant crude oil reserves.
This revelation was made by the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, during the Ministerial Sectoral Updates in Abuja.

Nigeria’s Crude Oil Reserves


Nigeria is blessed with sufficient crude oil reserves to supply all refineries in the country, including modular ones.
The country has a long history of oil production, and its reserves are estimated to be around 37 billion barrels.
Despite this, there have been reports of refineries importing crude oil from other countries, which has raised concerns about the country’s energy security.

Dangote Refinery’s Import of Crude Oil


Dangote Refinery, owned by Aliko Dangote, has been reported to be importing crude oil from the United States.

This has raised eyebrows, as Nigeria has sufficient crude oil reserves to meet its domestic needs.

The refinery, which is located in Lagos, can process 650,000 barrels of crude oil per day.

READ MORE: Dangote Refinery to Buy 24m Barrels Of Crude From US

Exclusive: Dangote Refinery’s First Fuel Cargoes Set for Export!

Government’s Response


The Federal Government has expressed surprise at the reports of Dangote Refinery’s import of crude oil.
The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, stated that he was unaware of the importation and emphasized the need for the country to increase its oil production.
He also clarified that the government has removed fuel subsidies, but acknowledged the need for governmental support to alleviate citizen hardships.

Fuel Subsidy Controversy


The removal of fuel subsidies has been a contentious issue in Nigeria. While the government has maintained that it has removed the subsidies, some have argued that the government is still spending on petrol subsidies.
Nasir el-Rufai, a former governor of Kaduna state and a nominee for ministerial appointment, has been one of the foremost proponents of this argument.
Conclusion: Nigeria’s crude oil reserves are sufficient to meet its domestic needs, and the importation of crude oil by refineries like Dangote Refinery raises concerns about the country’s energy security. The government’s response to the issue has been unclear, with the Minister of State for Petroleum Resources expressing surprise at the reports. The controversy surrounding fuel subsidies also remains unresolved. As Nigeria continues to navigate its energy challenges, it is essential to have a clear and coherent energy policy that prioritizes the country’s energy security and the welfare of its citizens.
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