Arewa youths slam Dangote for attempting to dictate fuel prices, voicing strong opposition to his influence in the market.
A request has been made by the Arewa Youth Assembly (AYA) to billionaire entrepreneur Aliko Dangote, urging him to honor rules and regulations in the petroleum industry while respecting the authority of Nigerian National Petroleum Company Limited (NNPCL).
During a press conference on Sunday in Abuja, the Speaker of AYA – Mohammed Salihu Danlami emphasized that Dangote’s refinery was established after regulatory bodies like NNPCL, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) had already been in existence.
Danlami remarked that it would be extremely self-centered of Dangote to anticipate regulatory agencies to modify their protocols for his own gain. The group of young people implored Dangote to comply with the prevailing regulations, emphasizing that these industries are subject to strict principles.
According to Danlami, the Dangote Group has its own set of regulations that all stakeholders must follow. He revealed that their investigation showed Dangote’s desire to impose his desired prices on crude oil purchases, which contradicts industry best practices. Specifically, he is requesting Bonny Light crude be sold at a rate decided by him and urging NUPRC (Nigerian Upstream Petroleum Regulatory Commission) to force international companies into compliance with this strategy – disregarding the principle of willing buyer-willing seller.
Danlami added that the AYA had accused Dangote of trying to create a monopoly by pressuring NMDPRA into not licensing other importers. When this request was denied, he resorted to blackmailing tactics and attempted to incite Nigerians against the regulatory body by levelling accusations at them for licensing marketers who bring substandard products into the country.
Danlami cautioned that if Mr. Dangote wishes to support President Bola Ahmed Tinubu’s Renewed Hope agenda, he must cooperate with the nation and be more transparent regarding the laboratory results from his refinery which are being suspected of substandard quality. Despite operating in industries with less regulation before, it is important for him to recognize that oil and energy sectors require a higher level of attention given their sensitivity towards safety concerns raised by young people calling upon National Assembly members today!
To sum up, the AYA insisted that Dangote offer an apology to both the government and fellow business rivals as a redress for defamation. Failure to do so would result in legal repercussions. “Commitment to excellence is paramount for Nigeria’s progress, and rather than indulging in self-interests, it is crucial that Dangote prioritizes quality,” emphasized Danlami.
