Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    Pre-Election Spending to Keep Inflation, Interest Rates Elevated – Analysts

    June 25, 2026

    NCDMB to Launch Oil and Gas Trainers Certification

    June 25, 2026

    Naira Depreciates, Touches N1392 on FX Liquidity Shortfall

    June 25, 2026
    Facebook X (Twitter) Instagram
    Trending
    • Pre-Election Spending to Keep Inflation, Interest Rates Elevated – Analysts
    • NCDMB to Launch Oil and Gas Trainers Certification
    • Naira Depreciates, Touches N1392 on FX Liquidity Shortfall
    • ACCI Seeks Reforms to Boost FCT Free Zones for Economic Growth
    • $125bn in Vessel, Cargo Value Await Passage from Persian Gulf – Allianz
    • Dangote, BUA Cement Drag NGX Index, Investors Lose N3.64trn
    • XRP Price Crashes as Lending Platform Strobe Finance Shut Down
    • South African Rand Softens, Stronger Dollar Weighs on EM Currencies
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Thursday, June 25
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » NIMASA, Dangote Refinery Set Up Committee to Address Concerns

    NIMASA, Dangote Refinery Set Up Committee to Address Concerns

    Marketforces AfricaBy Marketforces AfricaJanuary 24, 2024Updated:January 24, 2024 News No Comments3 Mins Read
    NIMASA, Dangote Refinery Set Up Committee to Address Concerns
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    NIMASA, Dangote Refinery Set Up Committee to Address Concerns

    The Nigerian Maritime Administration and Safety Agency (NIMASA) and the Dangote Refinery have set up a special committee to address the operational concerns of the refinery. The two parties gave the committee a two-week timeline to provide a report that would be implemented to ensure the easy sail of the refinery.

    The agreement was reached when Mr Akin Omole, the Managing Director of Dangote Port Operations, on behalf of Dangote Petroleum Refineries and Petrochemicals FZE, paid a courtesy visit to Dr Bashir Jamoh, NIMASA Director-General in Lagos.

    Jamoh nominated the Director, Cabotage and the Director of Internal Audit to be NIMASA’s representatives in the committee.  “The Director Cabotage provides the law and that of Internal Audit will ensure that fees of the agency are received.

    “I suggested a joint committee between the agency and the Dangote Refinery for us to sit down and look at issues and where you don’t understand, explanations will be given on the do’s and don’ts.

    “If no objections, I would like us to adopt what I suggested because we are in a democracy, I cannot just sit down because I am a regulator and impose things on you,” he said. Jamoh said the commencement of the refinery would boost the domestic oil requirement capacity of the country.

    He noted that the agency had to be certain of revenue adding that they would not be so selfish, especially with the challenges in the country. “I have listened attentively on the issue of the Cabotage Act 2003, and we have seen the letter from Dangote Group and we have responded to that point by point.

    “Now that you are here, it is good to put our heads together and ensure that we remove the grey areas that will hinder the operations of the refinery. Since the commencement of the operations of the refinery, NIMASA has not taken any sledgehammer and insisted on full compliance with the Cabotage Act, our concern is the grey areas and how they can be addressed so that it cannot jeopardise laws of the land.

    “Now that you are here as a team, we have a more explicit report on the way and manner this Act can be implemented and utilised,” he said. Responding, Omole said he was in full support of the idea pushed by Jamoh. According to Omole, this act will ensure that the refinery is not in breach of the Cabotage Act.

    “We talked about business being done in a way that there is no obstruction, no delay. In shipping, a day delay is a huge cost, we have an average of over $50,000 demurrage on a ship per day, so we want to be sure that these kinds of delays are not experienced. Naira Steadies as Banks Issue Update on FX Purchase

    “All bottlenecks, and hindrances that will cause the delay will be addressed jointly and collaboratively with our team and NIMASA team,” he said. He said the strategic importance of Dangote Refinery was not only for Nigeria’s economy but Africa, as a whole.

    Dangote Refinery NIMASA
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Marketforces Africa
    • Website
    • Facebook
    • X (Twitter)
    • Instagram
    • LinkedIn

    MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

    Keep Reading

    Pre-Election Spending to Keep Inflation, Interest Rates Elevated – Analysts

    NCDMB to Launch Oil and Gas Trainers Certification

    Naira Depreciates, Touches N1392 on FX Liquidity Shortfall

    ACCI Seeks Reforms to Boost FCT Free Zones for Economic Growth

    $125bn in Vessel, Cargo Value Await Passage from Persian Gulf – Allianz

    Dangote, BUA Cement Drag NGX Index, Investors Lose N3.64trn

    Add A Comment

    Comments are closed.

    Editors Picks

    Pre-Election Spending to Keep Inflation, Interest Rates Elevated – Analysts

    June 25, 2026

    NCDMB to Launch Oil and Gas Trainers Certification

    June 25, 2026

    Naira Depreciates, Touches N1392 on FX Liquidity Shortfall

    June 25, 2026

    ACCI Seeks Reforms to Boost FCT Free Zones for Economic Growth

    June 24, 2026

    $125bn in Vessel, Cargo Value Await Passage from Persian Gulf – Allianz

    June 24, 2026
    Latest Posts

    Pre-Election Spending to Keep Inflation, Interest Rates Elevated – Analysts

    June 25, 2026

    NCDMB to Launch Oil and Gas Trainers Certification

    June 25, 2026

    Naira Depreciates, Touches N1392 on FX Liquidity Shortfall

    June 25, 2026

    ACCI Seeks Reforms to Boost FCT Free Zones for Economic Growth

    June 24, 2026

    $125bn in Vessel, Cargo Value Await Passage from Persian Gulf – Allianz

    June 24, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.