<\/p>\n
Ignatius Okorocha Abuja<\/p>\n
Sequel to seeming feud between the Nigerian National Petroleum Company Limited ( NNPCL ) and Dangote refinery over operational procedures and space , other key stakeholders in the sector like the Independent Petroleum Marketers Association of Nigeria ( IPMAN) and Depot and Petroleum Marketers Association of Nigeria ( DAPMAN), have kicked against monopoly in the Industry.<\/p>\n
In separate presentations made by the National leadership of the two bodies to Senate Ad – hoc committee probing alleged economic sabotage in Petroleum sector on Thursday last week , they warned that monopoly in the Industry , would not only run contrary to liberalization provided for by the 2021 Petroleum Industry Act ( PIA) but subject Nigerians to the whims and caprices of a firm or monopolistic investor.<\/p>\n
Specifically the National President of IPMAN, Alhaji Abubakar Shettima , told the Senator Opeyemi Bamidele led committee that ” The current value chain in the downstream should be sustained to allow other investors to participate ”<\/p>\n
He added that NNPCL is doing its best but should please improve on supply of products to retail outlets across the country to end the incessant queue at filling stations .<\/p>\n
Expressing similar view , the National Chairman of DAPMAN, Abdulkabir Adisa Aliyu said monopoly kills business and should not be allowed in the Petroleum sector .<\/p>\n
According him, the N133billion profit on Sugar sales within the first six months of the year , declared by Dangote , was a fall out of monopoly allowed in the business.<\/p>\n
” Investors like Dangote are no doubt , needed in sectors of interest but level playing field should be provided for others to thrive as well by concerned regulatory agencies.”, he said.<\/p>\n
However, representative of Dangote at the interactive session, Aliyu Suleiman, said the firm has never driven any other competitor out of business and not aiming at that , in the Petroleum sector since Nigeria runs a free market economy, guided by relevant laws like the PIA<\/p>\n
He disclosed that out of the 5million crude oil they got in recent time , NNPCL gave them 60% , 20% imported and 20% purchased .<\/p>\n
He commended the NNPCL for making the huge supply to Dangote but added that the refinery is a baby that should be supported by all relevant stakeholders to grow and not die .<\/p>\n","protected":false},"excerpt":{"rendered":"
Ignatius Okorocha Abuja Sequel to seeming feud between the Nigerian National Petroleum Company Limited ( NNPCL ) and Dangote refinery over operational procedures and space , other key stakeholders in the sector like the Independent Petroleum Marketers Association of Nigeria ( IPMAN) and Depot and Petroleum Marketers Association of Nigeria ( DAPMAN), have kicked […]<\/p>\n","protected":false},"author":2,"featured_media":24,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,1],"tags":[297,92,98,343,41,294],"class_list":["post-622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oil-gas","category-uncategorized","tag-dangota","tag-gas","tag-government","tag-nnpcl","tag-oil","tag-refinery"],"_links":{"self":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/622","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/comments?post=622"}],"version-history":[{"count":1,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/622\/revisions"}],"predecessor-version":[{"id":623,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/posts\/622\/revisions\/623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media\/24"}],"wp:attachment":[{"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/media?parent=622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/categories?post=622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailyechoes.ng\/index.php\/wp-json\/wp\/v2\/tags?post=622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}