The House of Representatives announced on Thursday that it will investigate an alleged plot by International Oil Companies (IOCs) to hinder the operations of the Dangote refinery.
This decision came after Minority Leader Kingsley Chinda raised the issue as a matter of urgent national importance.
According to Channels TV, the lawmakers are concerned that there may be manipulation in the pricing of local crude oil, which could prevent the Dangote refinery from purchasing it locally.
This could, in turn, increase the cost of the refined products.
Additionally, the House plans to investigate the actual percentage of the Federal Government’s shares in the Dangote refinery.
Chinda mentioned that while Dangote claims Nigeria owns only 7.3 percent, there have been claims that the Federal Government holds a 20 percent stake. The discrepancy is said to be due to the government’s inability to meet its financial obligations.
The House has urged the Ministry of Petroleum Resources to intervene and ensure the success of the Dangote refinery, which is seen as beneficial for the entire country.
Devakumar Edwin, vice-president at Dangote Industries Limited, previously stated that IOCs are complicating access to local crude.
According to Edwin, these companies often force the refinery to use expensive middlemen and pay inflated prices, as reported by Energy Afrique on Thursday.
