Inadequate Crude Supply to Nigerian Refineries Hinders Development, Says CORAN Chairman

The Chairman of the Crude Oil Refineries Owners Association of Nigeria, Mr. Momoh Oyarekhua, recently discussed the challenges faced by the local refinery owners in Nigeria during an appearance on the business morning program on Channels TV.

Mr. Oyarekhua highlighted the obstacles encountered in the implementation of the Domestic Crude Supply Obligation (DCSO), where the association has been actively engaging with regulators to ensure the full implementation of the DCSO as stipulated by the Petroleum Industry Act (PIA) in Sec 317.

Notably, the recent operation of local refineries and the inclusion of Dangote refineries have led to a significant drop in the price of Automotive Gas Oil (AGO) and massive employment in the country. Further support for local refineries will have a positive impact on the country’s economy.