Financial Energy Review
At the inaugural summit of the Crude Oil Refinery Owners Association of Nigeria (CORAN), Abdulrazaq Isa, chairman of the Independent Petroleum Producers Group (IPPG) and Waltersmith Refinery & Petrochemical Company, expressed optimism about Nigeria’s journey toward becoming a net exporter of petroleum products.
Speaking on behalf of IPPG, the Chairman applauded the summit’s theme, “Making Nigeria a Net Exporter of Petroleum Products,” as timely and aligned with the country’s goals.
The IPPG Chairman highlighted the critical role of the private sector in driving this transformation, emphasizing the operational commencement of the Dangote Refinery as a “game-changing” development. Commending Alhaji Aliko Dangote, he noted that this monumental project brings the country closer to energy independence.
He also stressed the importance of government policies in ensuring the sustainability of the sector, particularly in areas like crude supply, pricing, and border control. He praised the implementation of the Domestic Crude Oil Supply Obligation (DCSO) and the recent directive to the Nigerian National Petroleum Company Limited (NNPCL) for the sale of crude oil to domestic refineries in Naira, calling these measures innovative and impactful.
The summit, he said, marked a significant step toward positioning Nigeria as a global energy leader. He called for continued collaboration among stakeholders to make the refining sector globally competitive.
The Chairman concluded by thanking CORAN’s leadership and reaffirming IPPG’s commitment to supporting Nigeria’s refining ambitions.
