The Manufacturers Association of Nigeria (MAN) has enjoined the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to issue a clarification that absolves the Dangote Refinery of the negative perceptions the comments by its CEO – Engr Ahmed Farouk, have planted in the mind of Nigerians and the global community.
” The allegations of poor quality, monopolistic tendencies and non issuance of license have since been roundly debunked,” said rhe Director – General of the Association, Segun Ajayi-Kadir.
Ajayi-Kadir stated that the Association expressed grave concern and called for caution from major actors, government agencies and regulators in the oil and gas sector of the economy over the recent debunked allegations of poor quality of diesel leveled against one of the largest private investments in Africa (the Dangote Refinery) by NMDPRA.
“It is expected that agencies of government, that provide regulatory oversight functions should promote an enabling business environment for local investments to thrive.
” No regulatory agency should be seen to be casting a shadow over a home grown investment like the Dangote Refinery,” he said.
Ajayi-Kadir further stressed that, local investors in Nigeria, particularly the Dangote Industries Limited (DIL) plays a vital role in driving economic growth.
They pay taxes, they create jobs and foster development within the country. As such, it is important that these investors are protected and given the necessary support to thrive in this business environment.
He said a business colossus like Alhaji Aliko Dangote, with investments in diverse sectors of the economy and across the Continent of Africa, should be accorded all needed support to grow and invest in more sectors and positively impact the wellbeing of the people.
There is no gainsaying the fact that Dangote Refinery is deserving of government protection and support.
No regulatory agency should be seen to be casting a shadow over a home grown investment like the Dangote Refinery
The Dangote Refinery, located in Lagos, the largest single-train refinery in the world, will play a significant role in reducing Nigeria’s dependence on imported petroleum products, reduce cost and energy poverty and significantly boost our energy sufficiency. This is also a company in which Nigeria and Nigerians are shareholders.
We should never encourage or promote a preference for imported products over local alternatives. This amounts to importing poverty and exporting prosperity.
There is no gainsaying the fact that Dangote Refinery is deserving of government protection and support.
He added that local investors are not only drivers of economic growth but also champions of national development.
They are the mirrors of our national industrial aspirations and their wellbeing is the attraction for both local and foreign would-be investors. There is hardly any major foreign investor that would be encouraged to invest in Nigeria by the recent unwarranted castigation of Dangote Refinery.
On the other hand, supporting and protecting local investors like the Dangote Refinery, would be sending a clear signal to foreign investors to take advantage of the conducive environment and invest, thereby creating jobs and building a more prosperous future for our people.
The Association therefore calls on the Nigerian government to prioritize the protection of local investors and actively take necessary steps to improve the operating environment for manufacturers and other economic operators to thrive. ▪︎