News Oil and Gas

Forum seeks equality in crude oil refining policy

Written by silvernewsng

• As NMDPRA finds rare support

THE Nigerian Forum for Extractive Sector Accountability and Transparency (YES-ACT) has called on the Federal Government to provide equal opportunities for all investors in the crude oil refining industry.
This is as the much-vilified Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has found rare support in faraway Sokoto.
M. Bashar Umar, the National Convener of the forum, made the appeal while addressing journalists in Sokoto State on Sunday.


Umar emphasised that the government should ensure the continued participation of various players in the refining of Nigerian crude oil as a matter of national interest.
“This is pending the satisfactory take-off of the Dangote Refinery to its desired capacity.


“Accordingly, the government should ensure that the allocation of crude oil to any entity is based on actual refining capacity at the time of allocation,” he said.
Umar added that the forum has been monitoring the claims and counter-claims among the major players, the government, and regulatory bodies.


“As a youth-led consortium, we have observed that some dubious players in the oil and gas sector are disguising their intentions under the banner of supporting indigenous refining of petroleum products.


“This is to further exploit the masses by monopolising revenue generated from crude oil sales. They thereby deprive the government of much-needed revenue that could be generated from allowing multiple players at a time and setting oil and gas products prices to their own advantage,” he alleged.


Umar applauded the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for maintaining a policy of equal opportunities for all the stakeholders in the sector. (NAN)
$$

About the author

silvernewsng

Leave a Comment