Concerns Over Dangote Refinery’s Impact

Question: Aliko Dangote projected that by mid-July (now August), his refinery will come online. What does this mean for stakeholders and Nigerians?....KINDLY READ THE FULL STORY HERE▶

Gillis-Harry: We are proud of the Dangote Refinery and its capacity to produce 650,000 barrels of crude oil daily. However, it’s crucial to approach this development cautiously to avoid harming small businesses. Currently, small operators are importing fuel without issues. Any allegations of substandard products should be backed by empirical evidence.

Importance of Diverse Stakeholder Involvement

Question: What are the implications for Nigeria if Dangote Refinery becomes a dominant fuel refiner?

Gillis-Harry: While the Dangote Refinery is a significant investment, it should not lead to monopolistic practices. All industry segments, including small retail operators, must remain active. The refinery should refine oil, depots should distribute, and retailers should deliver to end users, maintaining a healthy economic value chain.

Anticipated Fuel Pricing

Question: What do you anticipate in terms of fuel pricing with the Dangote Refinery’s commencement?

Gillis-Harry: Fuel should be affordable and the industry should undergo a domestic revaluation. Ideally, Dangote should buy crude oil in Nigerian Naira to stabilize local pricing. Transparency and a well-defined state of emergency on crude oil management are essential.

Addressing Refinery Deadlines

Question: What’s your position on missed deadlines for Port Harcourt, Kaduna, and Warri refineries?

Gillis-Harry: Deadlines must be realistic and technologically informed. Shifting deadlines harm our reputation. The government must ensure refineries are operational as planned.

Boosting Crude Oil Production

Question: What should the government do to boost crude oil production and the Nigerian economy?

Gillis-Harry: We need to return to agricultural exports and diversify our economy. Crude oil should be a temporary fix. Maximizing our mineral resources and agricultural products will boost reserves and stabilize the economy.

Solutions to Fuel Queues

Question: Fuel queues are common in Nigeria. What are direct solutions?

Gillis-Harry: Establish a war council to address supply glitches. Effective planning, regular meetings, and grassroots involvement are crucial. We should implement homegrown solutions like the 3P’s sales solution to track and manage fuel distribution effectively.

Call for Auditing

Question: How would you react to former CBN governor Lamido Sanusi’s statement on auditing NNPC?

Gillis-Harry: Auditing every sector, including NNPC and the Central Bank, is vital. Transparency is key to understanding our country’s financial health. Corruption must be addressed to ensure resources benefit future generations.

The Way Forward

Question: What’s the way forward for the petroleum sector?

Gillis-Harry: Embrace homegrown technology, refine operational modalities, and reduce reliance on foreign technology. Transparency and patriotic leadership are essential. Declaring a state of emergency on crude oil management is a step in the right direction. Collaboration between all stakeholders, including modular refineries and NNPC, will stabilize the sector.

This interview underscores the need for balanced growth in the oil and gas industry, cautioning against monopolies and emphasizing transparency and strategic planning.