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in turn, fueling economic growth in Duqm as imports and over 40 per cent of Nigeria can hear in the aviation sector that they are
well as making a significant contribution to exports. threatening a total shutdown in a few weeks
Oman’s future prosperity. The need for holistic reforms in the time if this condition does not improve. It is
CONSTRUCTION WEEK Petroleum Industry, ease of doing business, also disturbing that motorists, keke operators
and encouragement of local content in the and everybody will have to go to fuel stations
Dangote refinery: hope for industry birthed the Petroleum Industry Bill to queue for a very long hours and at the end
of the day you might not even get this product
by the Goodluck Jonathan administration on
petroleum sector, economy July 18, 2008. to buy even at a very exorbitant price of N220,
N300 and N350.” She stressed: “NLC has been
LEADERSHIP
Nigeria’s hopes of attaining self-sufficiency issuing a notice of warning to the Federal
in domestic oil refining is hinged on the Nigeria: deploy oil windfall Government for sometime now. It has been a
completion of the Dangote refinery. It will recurrent situation that we have been telling
be one of the largest in the world and when to fix refineries the government not to rely solely on foreign
fully operational, should in theory be able to entity.
meet Nigeria’s domestic fuel requirements Following the protracted crisis in the nation’s “We are actually asking the government
and trigger a positive ripple effect across other petroleum sector, the Nigeria Labour to put our ailing refineries, we have four
sectors of the economy. Congress (NLC) has challenged government refineries, in place with Nigerian tax payers’
Nigeria is the largest oil and gas producer to use the money from rising oil prices in money. “We thank God that a Nigerian is
in Africa. Crude oil from the Niger delta basin fixing the country’s ailing refineries. The coming up inform of a Dangote refinery
comes in two types: light, and comparatively move, the NLC said would not only save the that is almost ready now. “Nigerians need a
heavy; the lighter around 36 gravity and country’s economy trillions of naira but will quick solution to this problem, or else, the
the heavier, 20 – 25 gravity. Both types are also cushion the burdens, hardships and pains untold pains and hardships that is coming to
paraffinic and low in sulfur. Nigeria’s economy Nigerians are currently passing through. Nigerians is becoming unbearable and if this
and budget has been largely supported from The Chairperson, Nigerian Labour Congress persists, definitely Nigerians will no longer
income and revenues generated from the (NLC) Lagos Chapter, Comrade Funmi be able to bear it. “Happily, crude oil price
petroleum industry since 1960. Sesi, in an interview with New Telegraph in has gone up and Nigeria can use the dollar
Meanwhile, over the last four decades, Lagos, emphasised that the NLC’s position harvests to put our ailing refineries into shape
Nigeria has consistently struggled to keep on the intending subsidy removal of PMS by and start refining our products locally and it
its refineries functioning optimally. Despite government was not proper at this period that will also save us this capital flight.”
having a nameplate refining capacity that many Nigerians, businesses and others have NEW TELEGRAPH
exceeds demand, Nigeria ranks as the third faced and still facing difficulties in their daily
highest importer of petroleum products in engagements.
Africa, importing over 80 per cent of products According to her, there is no doubt that FUELS
consumed. the pro-governnent agitating for removal of
In spite of the setbacks, the inherent subsidy will definitely know that the country’s Iran petrol export at 2mn
opportunity for Nigeria’s erstwhile dormant external reserves is increasing largely amidst
refining sector holds bright prospects for the rising oil price that is hovering above $110 lpd
future and a recognition of key drivers will per barrel. She, however, warned government
accelerate the imminent refining revolution. that there were limitations to which suffering The CEO of the National Iranian Oil Refining
Statistics as of February 2021 shows that Nigerians could stomach. She said: “The NLC and Distribution Company (NIORDC) said
the Nigeria’s oil sector contributes to about is shocked and alarmed about the continued the country was exporting an average of 2
nine per cent of the entire country’s GDP. scarcity of petroleum products in the country million liters of petrol per day.
Nigeria as the largest oil and gas producer in with queues in many filling stations in the Speaking to reporters on Tuesday, March
Africa, is a major exporter of Crude oil and country. 15, Jalil Salari said that the country was
petroleum products to the United States of “This crisis started with the supply of currently exporting the strategic item, adding
America. In 2010, Nigeria exported over one sub-standard PMS and has now degenerated that he expected 105 ml/d of consumption in
million barrels per day to the United States into persistent scarcity, not only PMS, but the country during Noruz.
of America representing nine per cent of the also other petroleum products, such as diesel SHANA
U.S total crude oil and petroleum products (AGO) and also aviation fuel. “I think you

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