Devakumar Edwin of Dangote Industries accuses IOCs of manipulating crude prices, hindering local refinery operations. He urges government intervention to protect Nigeria's economic interests amid challenges in sourcing local crude and importing costly alternatives
Devakumar Edwin, the vice-president of oil and gas at Dangote Industries Limited, has accused international oil companies (IOCs) of manipulating crude oil prices to hinder the success of Dangote Oil Refinery and Petrochemicals.
Edwin criticized the IOCs for inflating prices, forcing Dangote to import costly crude from the US, thus jeopardizing local production and economic growth.
He called for government support to combat these challenges and ensure Nigeria benefits from its refining capacity.
