Dangote refinery to get full operating license soon — FG

Date:

May 1, 2024.

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Azonuchechi Chukwu.

The federal government has announced plans to commission and grant full operating license to Dangote refinery.

Farouk Ahmed, the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority disclosed this in Abuja on Tuesday, stating that only three refineries currently have valid licenses to operate in the country.

Ahmed who was represented by Ogbugo Ukoha, the Executive Director, Distribution Systems Storage Retailing Infrastructure, at the ‘Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community Development Trust Regulations’ said, “we have issued three refineries with valid licenses. We awarded to Dangote Refinery even in their pre- commissioning and sooner than later they will have full commission and a valid license to also operate.

He explained that only about 15 gas facilities in the country have valid licenses and 1,199 facilities with valid licenses in the downstream.

Also, there are about 130 depots with valid licenses and 69 valid coastal vessels licenses, adding that there were a total of 9,464 licensed retail outlets in the country as at Tuesday.

In his remarks, Dumnamene Dekor, chairman, House Committee on Host Community, stressed on the need for industry players to implement the regulationas it affect hist communities, adding that defaulters will be punished.

For Benjamin Tamaranel, the National President of host communities of Nigeria, the inclusion and representation of host communities in the PIA, can be harnessed as a tool to address insecurity in the oil producing regions of the country.(www.naija247news.com).


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Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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