Business

Senate Schedules Public Hearing for Dangote Refinery Dispute in September

Published

2 years ago

July 26, 2024

Photo source: Google

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.

Business

OPay Introduces New Security Features for Customers

Published

1 day ago

June 29, 2026

Ese Ohwofa

Nigerian fintech company OPay has introduced new security features to improve the safety of its application.

The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.

The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.

The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.

Business

Nigeria’s Agricultural Sector Cannot Thrive Without Investment – FG

Published

6 days ago

June 24, 2026

Ese Ohwofa

The Federal Government of Nigeria has spoken on the agriculture sector of the country and shared that, in its current state, it needs more capital as it cannot stand alone without it.

They stated that even more capital will be needed in order to transform the agricultural sector and improve food production in Nigeria.

“Relying solely on public capital will not suffice to finance the transformation of Nigeria’s agricultural sector. Similarly, private capital will not be mobilised at the necessary scale unless the associated risks are comprehensively understood, appropriately allocated, and effectively managed.”