Nigeria, July 23 -- On Tuesday, Aliko Dangote, founder and president/chief executive of the Dangote Group, urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to cancel inactive refinery licenses or impose annual penalties on holders.

Speaking at the West African Refined Fuel Conference in Abuja on Tuesday, organised by NMDPRA and S&P Global Commodity Insights, Mr Dangote said encouraging others to build refineries is the responsibility of the NMDPRA and the government.

"I think encouraging other people to build refineries is the job of the NMDPRA and also the government. So, NMDPRA, I rely on your leadership to make sure we encourage those people who have collected licences to work with you.

"And I beli...