Business
Senate Schedules Public Hearing for Dangote Refinery Dispute in September
The Nigerian Senate has scheduled a public hearing for September to address the ongoing dispute between the Dangote Group and key regulatory bodies including the Nigerian Midstream and Downstream Petroleum Regulatory Authority, the Nigerian National Petroleum Company Limited (NNPC), and other involved regulators.
Bamidele Opeyemi, Chairman of the 15-member Ad-hoc Committee appointed by the Senate, made this announcement on Thursday.
The Senate President, Godswill Akpabio, recently established this committee to tackle the various issues causing friction between Dangote Group and the regulatory authorities in the Nigerian oil and gas sector.
The Senate has pledged to uncover and name any alleged saboteurs in the industry, emphasizing the critical importance of this sector to Nigeria’s economy.
Opeyemi assured that this Ad-hoc Committee would differ from previous Senate Committees that had investigated the oil sector without producing concrete results.
According to Opeyemi, the Committee has reached out to all relevant stakeholders for the submission of pertinent documents ahead of the public hearing scheduled from September 10 to September 12, 2024.
The committee aims to thoroughly examine the existing regulatory frameworks and procedures to identify any shortcomings and suggest necessary reforms to avoid similar issues in the future.
“The Committee is dedicated to upholding the highest standards of fuel quality in the Nigerian market,” Opeyemi emphasized.
In addition to the Senate’s actions, the House of Representatives has also launched its investigation into the dispute.
Meanwhile, the Minister of State for Petroleum Resources, Heineken Lokpobiri, has convened an emergency meeting involving Dangote, Farouk Ahmed (CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority), Gbenga Komolafe (CEO of the Nigerian Upstream Petroleum Regulatory Commission), and Mele Kyari (Group CEO of NNPC) to address the sector’s ongoing crisis.
The dispute gained significant attention last week when Ahmed publicly criticized the quality of diesel produced by Dangote Refinery, claiming it was inferior compared to imported alternatives.
Dangote Group has firmly rebutted this assertion, maintaining that its refinery’s products meet high-quality standards.
Hamster Kombat has introduced a new anti-cheating strategy to ensure fair play and protect dedicated players. The initiative targets those attempting to manipulate the game for extra benefits, issuing a “cheating is bad” warning that could affect their positions for the airdrop distribution on September 26. The team emphasized the importance of rewarding honest players and creating a secure environment.
As Season 1 of the Telegram-based Web3 game ends on September 20, Hamster Kombat will take a snapshot of the game’s activities to determine airdrop eligibility. The game, which has over 300 million users, is focused on maintaining fairness ahead of its upcoming Season 2 launch.
Binance announced the upcoming launch of “Moonbix,” a play-to-earn (P2E) game on Telegram’s Mini App. In this game, players explore galaxies, collect items, and earn crypto rewards. Although the game leaked early, Binance is fine-tuning it for an official release and warned users to stay cautious of impersonation scams.
Telegram Mini Apps, introduced in 2023, have seen massive engagement, with popular apps like Hamster Kombat driving crypto adoption. Telegram’s integration with The Open Network (TON) has further contributed to this growth.
The Federal Government generated around $1.2 billion from telecom license fees during the early stages of mobile technology in Nigeria, with major operators like MTN, Globacom, Econet (now Airtel), and Etisalat (now 9mobile) contributing to the sum.
These fees were instrumental in laying the foundation for the country’s telecom industry, which officially began in 2000.
The sector has since become a key driver of Nigeria’s economic growth.
Former President Olusegun Obasanjo highlighted this achievement during a book launch held in Lagos on Tuesday.
He reflected on how the licensing of these operators marked a pivotal moment in Nigeria’s technological and economic development, allowing the country to leap into the era of mobile communication.
Obasanjo acknowledged the critical role these funds played in shaping the telecom industry, which has become one of the most significant sectors in the nation’s economy today.
The successful auction of these telecom licenses provided the capital necessary to build the infrastructure and networks that have connected millions of Nigerians, driving economic activity and fostering innovation across various industries.
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