Business
Group urges Dangote to respect NNPCL, other regulatory bodies
The Arewa Youth Assembly (AYA) has called on billionaire businessman Aliko Dangote to respect and comply with the Nigerian National Petroleum Company Limited (NNPCL) and other regulatory bodies.
During a press conference in Abuja on Sunday, AYA Speaker Mohammed Salihu Danlami emphasized that the NNPCL, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have been established long before Dangote’s refinery and should not be pressured to bend protocols for personal interests.
“It would be very selfish for Dangote to expect these regulatory bodies to serve his personal interests,” Danlami stated. He reminded Dangote that the oil and energy sectors are governed by regulations, and he must adhere to these rules just as stakeholders in the Dangote Group follow its internal regulations.
The youth group accused Dangote of trying to dictate the prices at which crude oil, specifically Bonny Light crude, should be sold to him, which goes against international best practices.
“He wants the Bonny Light crude at his desired rate and expects the NUPRC to force international oil companies to comply, ignoring the willing buyer-willing seller principle,” Danlami added.
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Further allegations from the AYA include claims that Dangote wants the NMDPRA to restrict other licenses for importing petroleum products, leading to accusations and blackmail against the regulatory body.
The group urged the National Assembly to release laboratory results from Dangote’s refinery to the public, suggesting that his products may be substandard.
“We understand Mr. Dangote has operated in less regulated industries, but the oil and energy sectors have strict rules. He should come down from his high horse so all parties can work in the nation’s best interest,” Danlami said, warning that any ulterior motive to undermine the administration of President Bola Ahmed Tinubu’s Renewed Hope agenda will not be tolerated.
The AYA called for Dangote to apologize to the government and other business competitors for any defamation or face legal consequences.
“The Nigerian Government is committed to excellence, and Dangote should uphold quality standards rather than pursuing selfish desires,” the group concluded.
