Atiku Abubakar Urges Vigilance Over Dangote Refinery’s Progress Amid Allocation Dispute

Former Vice President Atiku Abubakar has emphasised the need for vigilance and proactive measures to ensure that the Dangote Refinery, a crucial investment for Nigeria, is not obstructed by any internal or external forces.

His comments reflect growing concerns over recent disputes regarding crude oil allocations essential for the refinery’s operations.

In a statement posted on X, Atiku Abubakar likened the anticipation surrounding the refinery to the expectations of a parent awaiting a newborn, underscoring the importance of nurturing and safeguarding significant investments.

He urged Nigerians to actively support efforts that prevent any deliberate attempts to hinder the progress of the refinery, which is poised to play a pivotal role in addressing the country’s energy and foreign exchange needs.

“Just as a parent would take every measure to ensure the well-being and development of a newborn, so must we protect and support investments that hold promise for our nation’s future,” Atiku stated.

He called upon citizens to remain vigilant and ensure that no forces, whether internal or external, are working against the successful operation of this transformative project.

Atiku’s remarks come in the wake of a recent controversy involving the Dangote Refinery and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The refinery, which is one of the largest private sector investments in Nigeria’s history, has raised concerns about the fulfilment of its crude oil allocations.

According to statements from Dangote Refinery, the NUPRC had claimed to facilitate the allocation of 26 million barrels of crude oil in the first quarter of 2024.

However, the refinery reported that it had only received one cargo of crude oil from a domestic producer through NUPRC, with the majority of its crude sourced from international traders.

The refinery has called on the NUPRC to take steps to fully implement the Petroleum Industry Act (PIA), which is designed to reform and improve the oil and gas sector in Nigeria.

The act aims to enhance transparency, ensure fair play, and attract investment into the industry.

Dangote Refinery’s request underscores the critical role of regulatory agencies in facilitating the smooth operation of major investments and ensuring that they receive the support necessary to thrive.

In response to the situation, Atiku Abubakar’s call for action highlights the broader implications of this issue for Nigeria’s economic future.

The Dangote Refinery is expected to significantly boost the country’s refining capacity, reduce dependence on imported petroleum products, and contribute to economic growth.

Therefore, ensuring that it operates without undue hindrance is of paramount importance.

Atiku’s statement reflects a broader sentiment among many Nigerians who view the refinery as a symbol of progress and a potential catalyst for change in the country’s energy sector.

The ability of such a large-scale project to succeed and deliver on its promises is seen as a crucial test of Nigeria’s commitment to improving its infrastructure and economic landscape.

As the situation develops, the focus will likely remain on the interplay between regulatory bodies and private sector investments. The resolution of the crude oil allocation issue will be closely watched by stakeholders across the industry.

The successful implementation of the PIA and effective collaboration between government agencies and private investors are essential for the realisation of the benefits that the Dangote Refinery promises.

In conclusion, Atiku Abubakar’s call for vigilance and support highlights the critical nature of the Dangote Refinery project for Nigeria’s economic future.

Ensuring that the refinery is not obstructed by any form of interference is crucial for the country’s progress and development in the energy sector.