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NASS Member Defends Dangote Over Crude Oil Resale

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Amidst allegations that Dangote Refinery was reselling crude oil bought from the United States and Nigeria to other traders, a National Assembly lawmaker, Hon. Phillip Agese, has defended the company.
In what he christened “false allegations”, Agese said the attenpt is to demarket the indigenous Dangote Refinery and Petrochemicals Company in order to demarket it for the selfish interest of saboteurs who are bent on keeping Nigeria in the energy crisis.
Agese, who is the Deputy Spokesman of the House of Representatives, and member representing Ado/Ogbadibo/Okpokwu Federal Constituency of Benue State in the House of Representatives, accused the Nigerian National Petroleum Company Limited (NNPCL) and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of being behind the attempts to discredit the private Refinery to the advantage of International Oil Companies (IOCs).
In a statement issued in Abuja, expressed wonder as to why a regulatory agency would go all out to frustrate the efforts of his country’s entrepreneur to give foreigners the oxygen to continue to run their imperialistic businesses in the country to retard Nigeria’s indigenisation drive in the oil and gas, as well as other sectors.
According to him, preliminary investigations by the parliament has proved the Chief Executive Officer of NMDPRA, Farouk Ahmed, wrong of his “concotted allegations” that Dangote Refinery products were inferior to the imported quality.
He said, “It is quite unbelievable that the Dangote Refinery, with a capacity of 650,000 barrels per day (bpd), believed to be Africa’s largest refinery, and the World’s 7th largest by capacity and constructed with the intention to alleviate the petroleum products needs and accompanying pains faced by Nigerians, will be brought into public opprobrium by no one else than NMDPRA boss, Farouk Ahmed.
“By the spirit of the Petroleum Industry Act, which created the agency which he superintend over today, he should be the one encouraging local refineries to grow by providing a level playing field for them to operate, but, unfortunately, he is the one stifling indigenisation of the sector and watering ground for economic neocolonialism.
“Nigerians, including critical stakeholders, such as the parliament woke up to gibberish spunned by Ahmed when he declared that: ‘The Dangote refinery is still in the pre-commissioning stage. It has not been licenced yet. We haven’t licenced them yet. They are still in pre-commissioning stage. I think they’re about 45 per cent completed, in completion rather’.
“So we cannot rely heavily on one refinery to feed the nation, because Dangote is requesting that we should suspend or stop all importation of petroleum products, especially AGO (diesel) and jet fuel, and direct all marketers to the refinery.

“So, in terms of quality, currently…Dangote refinery as well as some major refineries like Waltersmith refinery, produce between 650ppm to 1,200 ppm. So, in terms of quality, their quality is much inferior to the imported quality.
“That was least expected of him, moreso, that the Chairman of the House Committee on Downstream, Ikenga Ugochinyere, and Chairman of the House Committee on Midstream, Okojie Odianosen, oversaw the collection of samples from the Mild Hydro Cracking (MHC) unit of Dangote refinery for testing of all the samples.
“Lab tests revealed that Dangote’s diesel had a sulphur content of 87.6 ppm (parts per million), whereas the other two samples showed sulphur levels exceeding 1800 ppm and 2000 ppm respectively, disproving his malicious claims.
“It is also surprising that NNPCL too is in this vicious cycle as it has been revealed that the Federal Government of Nigeria subscribed 20% shares in Dangote Refinery has failed to redeem its obligation and now owns 7.2% through NNPCL.
“As it is, that is not enough. The NNPCL is cohorting with cantankerous elements to deny Dangote crude, but selling them to IOCs”.

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PENGASSAN Tasks Multinationals On Workers’ Salary Increase 

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The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has asked companies in the oil and gas sector to undertake urgent review of salaries of their workers in view of the prevailing harsh economic conditions in the country.
Also, the pensioners of Chevron Nigeria, under the aegis PenCoN, have lauded the President of PENGASSAN, Comrade Festus Osifo and his executive on their unrelenting efforts toward addressing pension abnormalities faced by retired workers in the oil and gas industry.
The association also appealed to the federal government to take necessary measures to check banditry and terrorist activities in parts of the country.
PENGASSAN President, Osifo who addressed journalists shortly after the National Executive Council meeting of the association in Abuja, at the weekend, said that though a lot of success has been recorded in negotiating salary reviews for its members, there are still organisations that have failed to lift their workers from the present harsh economic situation.
He said within this period, PENGASSAN has signed numerous Collective Bargaining Agreements (CBAs) which has brought smiles to the faces of its teeming members.
“This is because we recognise that our job, literally, is how to protect the job of our members, and how to enhance their pay,” he said.
Osifo said that operators in the oil and gas sectors always go for the best qualified professionals to carry out their operations.
“So, the same way they recruit the best, we also challenge them to provide the best condition of service and provide the best remuneration.
“Yes, today, a lot of companies will have achieved successes, but there are still few that we are still discussing at their CBAs, that we are not yet there.
“We still use this opportunity to call on these companies that are still foot dragging, that are still holding back, even with the massive devaluation that has occurred in our country, that still don’t want to fix the remuneration of our members.
“We are calling on them to do the needful, because for us in PENGASSAN we will push without holding back. We will push, using everything in our arsenal, to ensure that the needful is done,” he said.
Osifo spoke of the dispute with the Dangote Refinery group, saying there are still pending issues to be resolved.
“Gentlemen of the press, during the networking session, we also looked at the issues that are plaguing some of our branches, and you know that recently, we had some challenges in Dangote Refinery and PetroChemicals Ltd.
“And within this period, since our last National Industrial Action, we have been engaging them in a lot of conversations, but the issues are not fully resolved. There are still a lot of pending issues.
“Yes, the NEC decided that, yes, let us still consummate that process by pushing those issues, by engaging in dialogue to resolve the issues, and by also engaging all our social partners and stakeholders to get the issues resolved,” he said.
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SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets

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The Securities and Exchange Commission (SEC) has launched the Regulatory Hub, a new centralized digital platform designed to streamline collaboration, strengthen oversight, and improve transparency across Nigeria’s financial and capital market ecosystem.
The Commission disclosed this in a statement posted on its website.
According to the commission, the platform connects key regulatory and security institutions including the Office of the National Security Adviser (NSA), the Central Bank of Nigeria (CBN), Economic and Financial Crimes Commission (EFCC), Federal Inland Revenue Service (FIRS), and Corporate Affairs Commission (CAC), enabling them to exchange information securely and in real time.
The launch of this regulatory hub comes ahead of the implementation of new tax laws in January 2026, with agencies such as the FIRS spreading its tentacles across sector to monitor compliance.
According to the SEC Director-General, Emomotimi Agama, the launch marks a significant step toward modernizing Nigeria’s regulatory framework through technology.
“The Regulatory Hub is a major step in our commitment to leverage technology for stronger regulatory synergy. By connecting regulators on one platform, we are building resilience, enhancing market integrity, and promoting investor confidence,” he said.
The SEC said the platform would help reduce bottlenecks in regulatory processes and facilitate faster, more informed decision-making across agencies.
Reinforcing the DG’s comments, the Executive Commissioner, Operations, Bola Ajomale, highlighted the operational benefits of the new system.
“The platform will significantly improve the timeliness and quality of regulatory decision-making. It provides a single window for regulators to share data, respond to requests, and collaborate seamlessly in safeguarding our financial and capital markets,” he said.
The commission believes the Regulatory Hub would support its broader mandate to strengthen investor protection, enhance market stability, and harmonize regulatory activities across the financial sector.
It urged stakeholders to initiate interest by emailing the Commission, adding that once registered, participants would be able to access the Hub and take advantage of its features.
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NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products 

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The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing circulation of banned food products across markets in the country.
The agency, in a Press Release dated 6 December 2025, warned that these items including pasta, noodles, sugar and tomato paste are expressly listed on the Federal Government’s Customs Prohibition List and are illegal to import.
NAFDAC stated that the sale and distribution of such prohibited items violate national trade laws, compromise the integrity of Nigeria’s food control system, and pose significant public health risks, as they have not undergone the agency’s mandatory safety and quality evaluations.

Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.

The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.

The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.

“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.

NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.

By: Lady Godknows Ogbulu
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