Expert Tasks FG on Designing Domestic Refining Development Framework

Hammed Shittu in Ilorin 

A multi dimensional energy expert, Abdulrazaq Hamzat, at the weekend called on the federal government  to urgently design a Domestic Refining Development Framework (DRDF) that will serve as a pathway to ensure competition and fair market balance in the oil sector of the country. 

The enery expert however urged the federal government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and the Nigerian National Petroleum Company Limited (NNPC Ltd) to consider the proposed framework to  achieve the desired result in the sector.

Speaking with newsmen in Ilorin yesterday on the state of the nation,  Hamzat said that,  such designs  would go a long way of boosting local competition and accelerate the socio-economic development of the country.

According to him,  “Nigeria has conquered one aspect of its petrol challenges with the success of Dangote refinery  but reliance on a single privately owned mega refinery poses long term risks to pricing, supply security, and energy sovereignty therefore calling on government to develop framework for local refining competition.” 

While commending Dangote’s $20 billion refinery as a landmark private investment, he stressed that true national benefit lies not in monopoly, but in a competitive domestic refining ecosystem.

According to him, It is unwise to encourage fuel importation just to create competition for Dangote.

The post Expert Tasks FG on Designing Domestic Refining Development Framework appeared first on THISDAYLIVE.

​  

  • Related Posts

    EXCLUSIVE: Inspector-General Egbetokun Removes AIG Fayoade From Zone 2 Lagos To Stop His Planned Emergence As Next Police Boss

    SaharaReporters learnt on Wednesday that although the Nigeria Police Force officially claimed that Fayoade’s removal was linked to “corruption allegations,” his removal is tied to Egbetokun’s secret plot to stop…

    Pro-Tinubu’s Protesters Storm  NNPCL Headquarters 

    Pro-Tinubu’s Protesters Storm  NNPCL Headquarters 

    * Seek probe of Ojulari, threaten legal action 

    Sunday Aborisade in Abuja 

    Coalitions in support of President Bola  Tinubu’s administration’s agenda, comprising Renewed Hope Interest Defenders, Lawyers in Defence of Accountability and CSOs for oil industry reforms, invaded the NNPCL headquarters on Wednesday, demanding the probe of the Group Chief Executive Officer,(GCEO), Bayo Ojulari’s leadership.

    They alleged that President Tinubu’s oil industry reform was currently under threat.

    The protesters, after a world press conference, marched through the streets of Abuja and ended at the NNPCL headquarters.

    The groups, at a live world press conference, unanimously passed a vote of no confidence in Ojulari and demanded the appointment of a GCEO that has the capacity to unite and serve as a stabilization link for the NNPCL.

    Speaking at the conference, the groups’ joint leader, Comrade Agu Obed, demanded that the Economic and Financial Crimes Commission (EFCC) fast-track the ongoing investigation into the matter.

    He alleged that a situation where an appointee of the president is in bed with key opposition leaders under the guise of a business relationship is a deliberate act of sabotage, which must be punished.

    The groups praised President Tinubu for his reforms in the oil industry, which have offered hope. 

    According to the groups, “We question, in the strongest terms, the irrational and suspicious shutdown of our national refineries by Mr. Ojulari, barely 24 hours after he assumed office on May 24th, 2025. 

    “Let it be on record that millions of taxpayers’ money have been invested in the rehabilitation of the Port Harcourt, Warri and Kaduna refineries, with several reports confirming that some of these refineries had started test-running and were functional. 

    “Yet, Mr. Ojulari, without recourse to stakeholders, and any official technical audit, allegedly ordered a shutdown of the facilities. 

    “This action is anti-people, anti-progress and targeted at undermining President Tinubu’s goal of achieving energy self-sufficiency and reducing fuel imports.

    “It is now an open secret within the industry that Mr. Ojulari has an agenda to deliberately demarket NNPCL to justify a privatisation process.

    “This is a deliberate effort to sabotage the national refining effort and enrich private interests.

    “This diversion must be investigated. We therefore call for an independent inspection by a team of credible, external engineers  including COREN and refinery experts, to verify the true operational state of the refineries and to determine if there was ever a genuine reason to shut them down.”

    ReplyReply allForwardAdd reaction

    The post Pro-Tinubu’s Protesters Storm  NNPCL Headquarters  appeared first on THISDAYLIVE.

    ​  

    * Seek probe of Ojulari, threaten legal action  Sunday Aborisade in Abuja  Coalitions in support of President Bola  Tinubu’s administration’s agenda, comprising Renewed Hope Interest Defenders, Lawyers in Defence of
    The post Pro-Tinubu’s Protesters Storm  NNPCL Headquarters  appeared first on THISDAYLIVE.

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Business & Economy

    FG, nurses union reach fresh agreement on service scheme, reserve 60% job quota

    Lagos attracted over $6 billion in tech startup funding between 2019 and 2024 – Sanwo-Olu 

    Standard Bank revises Naira outlook, projects N1,585.5/$1 by end of 2025 

    US commits $32.5m to support food security in Nigeria

    US government donates $32.5 million to WFP to address hunger in Nigeria

    US government donates $32.5 million to WFP to address hunger in Nigeria

    NGX penny stocks: The risky bet that might pay off again this September 

    FCTA revokes all park licenses in Abuja, calls for fresh resubmission 

    International Finance Corporation warns Africa risks missing AI boom without infrastructure and skills  

    Tinubu orders implementation of mandatory health insurance across MDAs, urges compliance monitoring 

    New TotalEnergies deepwater deal to accelerate Nigeria’s shift to gas – NUPRC CEO

    Law firm raises red flags over governance conflicts in Nigeria’s Insurance Reform Act 2025 

    FCCPC issues new regulation to address loan app harassment

    FCCPC issues new regulation to address loan app harassment

    Regency Alliance reports N2.5 billion 2024 profit on strong insurance revenue, investments 

    FCCPC commences ‘N100 million sanction rule’ against Non-Compliant Digital Lending Operators in Nigeria 

    African businesses face 35% higher technology costs than global peers- IFC 

    FG digitizes Basic Health Care Fund to boost transparency, accountability in PHC financing across Nigeria  

    Lagos state to cut Blue Line fares by 50% as ridership tops 5 million in two years

    A celebration of vision and impact: Built to Close by Tope Dare officially launched

    Mazerance; the game, the people and the long road ahead

    Dangote Refinery: FCCPC abandons bid to challenge Court’s dismissal in N100 billion petrol import license suit   

    FG declares Friday, September 5, as public holiday to mark Eid-ul-Mawlid

    Gold sparkles at record highs as Nigeria cracks down on illegal mining

    FATF grey list, a major stumbling block affecting Nigeria’s cross-border payment – Busha co-founder 

    ChatGPT to add parental controls amid child safety concerns

    ChatGPT to add parental controls amid child safety concerns

    SeaBaas at One: Peerless’ modern core processed 2 billion transactions, saves clients $10m — sets sights on Pan-African Scale 

    UBA, Mastercard launch prepaid card to promote financial inclusion 

    AMCON-backed Unity Bank summons shareholders meeting for merger with Providus

    AMCON-backed Unity Bank summons shareholders meeting for merger with Providus

    Nigeria to partner with ‘Big Tech’ companies to build hyperscale data centers – NITDA DG  

    Sterling Bank marks one year of zero downtime with groundbreaking SeaBaas

    Nigeria’s business performance index hits 107.3 as firms struggle with financing challenges 

    FG partners Polaris Capital to kickstart training of 100,000 construction artisans nationwide 

    OpenAI to acquire product testing startup, Statsig in $1.1 billion all-stock deal 

    Tinubu: Nigeria no longer borrowing from local banks as revenue target surpassed 

    Stock Market Plummets as Investors Lose N985.7bn in Two Days

    Sterling Bank Marks One Year of Zero Downtime with Groundbreaking SeaBaas

    Leadway Graduates Young Developers to Boost Nigeria’s Tech Talent Pool