Another Nigerian Oil Company Begins Refinery Construction to Rival Dangote, Others
- Te MidOil Refining and Petrochemicals Company Limited has begun construction of its 100,000 barrels per day capacity refinery
- The company performed a sod-turning ceremony to mark the commencement of construction refinery activities in Lagos.
- The company’s chairman, Elizabeth-Omolara Akintunde, said NMDPRA licensed the company to operate the facility in 2014
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment, and the economy for over a decade.
Amid the row between the Dangote Refinery and regulatory authorities, MidOil Refining and Petrochemicals Company Limited has performed a sod-turning ceremony to mark the commencement of construction refinery activities in Lagos.
The sod-turning event occurred in Shekungba, Ikosi/Ejirin Local Council Development Area of Lagos.
Source: Getty Images
MidOil performs groundbreaking for refinery project
MidOil’s chairman, Elizabeth-Omolara Akintonde, took dignitaries to the project site, spanning various Ikosi/Ejinrin Local Council Development Area communities.
Akintonde assured leaders and community members that the refinery would transform their areas by bringing development and creating direct and indirect jobs.
She applauded the village heads for being aware of some people who tried to bribe them to disappoint in their agreements.
She said the MidOil refinery would boost Nigeria’s energy landscape with 100,000 barrels per day refining capacity.
Amina Abdullahi, a director at MidOil, expressed joy that the project is finally starting after over a decade.
The refinery is licensed by NMDPRA
Punch reports that Olusola Hunponu-Wusu said Nigeria needs more refineries to boost its refining capacity and reduce fuel imports.
He asked the Nigerian government to ramp up low-oil production and stated that feedstock would help the refinery's success.
Legit.ng previously reported that on March 17, 2024, the MidOil Chairman signed agreements with the representatives of Shekungba, Arogbo, and Erefufu and presented cheques to the host communities.
Reports say she stated the government of former governor Babatunde Fashola sold the land to the company, saying that it received the land allocation letter from the Lagos State government on April 24, 2014.
She said:
“The sourcing of the required funding from overseas has been the major reason for the delay.”
More refineries spring up amid Dangote-regulators’ row
MidOil refinery joins a slew of modular refineries in Nigeria, which analysts believe will aid the country in crude sales.
Recently, Dangote Refinery has been in a row with the Nigeria National Petroleum Company Limited (NNPC) and the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) over the refinery’s licensing.
NMDPRA’s chief executive, Farouk Ahmed, alleged that the 650,000 bpd-capacity refinery is not licensed and produces inferior products.
The Dangote refinery management countered the NMDPRA, stating that fuel from the refinery is 80% superior to imported ones.
FG gives orders to regulators over Dangote refinery
Legit.ng earlier reported that the Nigerian government, via NMDPRA, expects fresh reports to confirm the sulphur content of the diesel produced by the Dangote Refinery, as the firm denied claims of inferior products.
The authority’s spokesman, George Ene-Ita, disclosed that the NMDPRA had done its job and would not engage in a media war with anyone over its chief executive, Farouk Ahmed, 's claims that the sulphur content on Dangote diesel is high.
He disclosed that the agency has about 15 engineers and scientists attached to the Dangote refinery. Their reports about the refinery’s sulphur content will be out on Monday, July 22, 2024.
Proofread by Kola Muhammed, journalist and copyeditor at Legit.ng
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Source: Legit.ng
