{"id":60162,"date":"2022-05-29T18:06:16","date_gmt":"2022-05-29T17:06:16","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=60162"},"modified":"2022-05-29T18:06:16","modified_gmt":"2022-05-29T17:06:16","slug":"dangote-refinery-to-expose-nigerias-downstream-midstream-sectors-to-intl-markets","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/dangote-refinery-to-expose-nigerias-downstream-midstream-sectors-to-intl-markets\/","title":{"rendered":"Dangote Refinery to Expose Nigeria\u2019s\u00a0Downstream, Midstream Sectors to Int\u2019l Markets"},"content":{"rendered":"

\"\"The coming on stream of the 650,000 barrels-per-day Dangote Petroleum Refinery\u00a0will guarantee availability of high quality environmentally compliant products in Nigeria,\u00a0regional markets in West Africa, Southern Africa and inter-continental markets.<\/p>\n

The President\/CE of Dangote Group, Aliko Dangote made this disclosure on Tuesday at the Nigerian Content Midstream – Downstream Oil and Gas Summit\u00a02022, which held in Lagos.<\/p>\n

Dangote, who was represented by the Technical Consultant, Dangote Industries Limited, Engr. Babajide Soyode, said\u00a0Dangote Petroleum Refinery would promote competition of local refining in Africa by encouraging existing large refineries to upscale, which would result in surplus products for exports.<\/p>\n

He stated: \u201cDangote Petroleum Refinery will guarantee adequate fuels production for domestic consumption, availability of excess products for export,\u00a0stabilisation of domestic currency, upgrading and expansion of Nigerian National Petroleum Corporation refineries and promotion of prospects of Nigeria transformation to a regional refining hub.\u201d<\/p>\n

\"\"<\/p>\n

Soyode emphasised the need for the Federal Government to invest more on quality infrastructure to reduce importation of refinery equipment that would ordinarily be sourced in Nigeria.\u00a0He noted that the development of specific, sustainable equipment manufacturing and services should be the focus of the NCDMB and the Federal Government.<\/p>\n

\u201cFunding of a project should be to ensure that substantial part of the product plant must be of Nigerian origin; the same applies to goods and services. Government should ensure a single digit tax regime to encourage investment in the downstream sector\u201d, he added.<\/p>\n

Speaking also, the\u00a0Executive Secretary, NCDMB,\u00a0Mr. Simbi Wabote\u00a0reiterated\u00a0the government\u2019s target to increase domestic refining capacity to 1.4 million barrels per day in the next five years.<\/p>\n

Wabote said this was being done by rehabilitating the existing four national refineries and providing strategic support for setting up private-owned Greenfield and modular refineries in the country.<\/p>\n

\u201cCombined refining capacity of more than 1.4mbpd is expected from these focus areas within the next five years. About 400,000bpd is expected from the rehabilitation of NNPC refineries in Port Harcourt, Warri, and Kaduna using target performance of not less than 90 per cent of nameplate capacity. The greenfield element of the roadmap covers the 650,000bpd Dangote Refinery in Lagos and the 200,000bpd BUA Refinery in Akwa Ibom,\u201d said Wabote.<\/p>

\r\n
Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

On his part, the Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA),\u00a0Mr. Farouk Ahmed,\u00a0said there were huge opportunities in the oil and gas value chain.<\/p>\n

Ahmed, represented by Mr. Francis Ogaree, Executive Director, Hydrocarbon Processing Plants, Installations and Transportation Infrastructure, NMDPRA, said the authority would continue to enable business in the sector.<\/p>\n

He said the enactment of the Petroleum Industry Act (PIA) had introduced a governance framework for the industry with clear delineation of roles between regulation and profit-centric business units.<\/p>\n

Ahmed noted that the Act contained fiscal incentives to attract investment in gas development and local refining.<\/p>\n

Photo Caption<\/p>\n

SDC 0333-2, L-R, Representative of the President \/CE, Dangote Industries Limited, Engr. Babajide Soyode, Technical Consultant – Dangote Industries Limited, Dangote Oil Refinery Company Limited, AGM Training , Development & Stakeholders Relationship Management, Dr. Ebele Oputa, Nigerian Content Development & Monitoring Board, Director of Planning, Research & Statistics, Daziba Patrick Obah, at the Dangote Petroleum Refinery Sponsor The Nigerian Content Midstream – Downstream , Oil and Gas Summit 2022, in Lagos on Tuesday 24th may 2022<\/p>\n

DSC 0332; L-R, Representative of the President \/CE, Dangote Industries Limited, Engr. Babajide Soyode, Technical Consultant – Dangote Industries Limited, Dangote Oil Refinery Company Limited, AGM Training , Development & Stakeholders Relationship Management, Dr. Ebele Oputa, Nigerian Content Development Monitoring Board, Director of Monitoring and Evaluation, Akintunde Adelana, Nigerian Content Development & Monitoring Board, Director of Planning, Research & Statistics, Daziba Patrick Obah, at the Dangote Petroleum Refinery Sponsor The Nigerian Content Midstream – Downstream , Oil and Gas Summit 2022, in Lagos on Tuesday 24th may 2022<\/p>\n

DSC 0339: L-R, Representative of the President \/CE, Dangote Industries Limited, Engr. Babajide Soyode, Technical Consultant – Dangote Industries Limited, Dangote Oil Refinery Company Limited, AGM Training , Development & Stakeholders Relationship Management, Dr. Ebele Oputa, Nigerian Content Development Monitoring Board, Director of Monitoring and Evaluation, Akintunde Adelana, Nigerian Content Develop<\/p>\n","protected":false},"excerpt":{"rendered":"

The coming on stream of the 650,000 barrels-per-day Dangote Petroleum Refinery\u00a0will guarantee availability of high quality environmentally compliant products in Nigeria,\u00a0regional markets in West Africa, Southern Africa and inter-continental markets.<\/p>\n","protected":false},"author":6,"featured_media":60163,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[5085],"coauthors":[2391],"class_list":["post-60162","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-dangote-refinery"],"yoast_head":"\nDangote Refinery to Expose Nigeria\u2019s\u00a0Downstream, Midstream Sectors to Int\u2019l Markets - National Wire<\/title>\n<meta name=\"description\" content=\"The coming on stream of the 650,000 barrels-per-day Dangote Petroleum Refinery\u00a0will guarantee availab the home\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/dangote-refinery-to-expose-nigerias-downstream-midstream-sectors-to-intl-markets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dangote Refinery to Expose Nigeria\u2019s\u00a0Downstream, Midstream Sectors to Int\u2019l Markets - 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