In a major breakthrough in its ongoing efforts to sanitize Nigeria’s oil and gas sector, the Economic and Financial Crimes Commission (EFCC) has recovered over N5 billion and $10 million from individuals and entities implicated in the massive fraud surrounding the botched Turnaround Maintenance (TAM) of Nigeria’s three major refineries, Port Harcourt, Warri, and Kaduna.
Industry experts and fuel marketers are calling on the Dangote Petroleum Refinery to peg its petrol prices below ₦800 per litre in a bid to ease pressure on consumers and strengthen its position in Nigeria’s liberalized downstream market. The call comes as Dangote Refinery, Africa’s largest single-train refinery with a production capacity of 650,000 barrels
The Port Harcourt Refining Company is reportedly set to undergo a maintenance shutdown expected to last about 30 days, stirring concerns among fuel marketers and host communities. While some retailers claimed the refinery was shut down late Thursday night, the Nigerian National Petroleum Company Limited (NNPC) maintained that the facility was still operational as of
Africa’s richest man and President of the Dangote Group, Alhaji Aliko Dangote, has disclosed that despite the commencement of operations at his $20 billion refinery located in the Lekki Free Zone, Lagos, efforts to undermine the facility remain relentless. He said he is still in a fierce battle to protect the refinery from entrenched interests
