Adhere to established regulations in petroleum industry, Arewa youths slam Dangote

Adhere to established regulations in petroleum industry, Arewa youths slam Dangote

The Arewa Youth Assembly (AYA) has called on billionaire businessman Aliko Dangote to respect the authority of the Nigerian National Petroleum Company Limited (NNPCL) and adhere to established regulations in the petroleum industry.

In a press conference held in Abuja on Sunday, AYA’s Speaker, Mohammed Salihu Danlami, emphasized that regulatory bodies like NNPCL, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have long been in place before the establishment of Dangote’s refinery.

“It would be highly selfish for Dangote to expect these regulatory bodies to bend their protocols for his personal interest,” Danlami stated. The youth group urged Dangote to abide by the existing regulations, noting that these sectors are governed by stringent rules.

“Even the Dangote Group has its own rules and regulations which all stakeholders must adhere to,” Danlami pointed out. “Dangote, from our findings, wants to dictate the prices at which crude should be sold to him, which goes against the principles of best practice. He is pushing for Bonny Light crude to be sold to him at his desired rate and wants NUPRC to compel international oil companies to comply with this agenda. This ignores the willing buyer-willing seller principle.”

READ ALSO:

• Hardship: Verydarkman in one-man Abuja street protest, Singer Portable tackles him
• Thousands mourn children killed in Golan Heights strike
• Israel launches devastating raids on Lebanon’s south

The AYA further accused Dangote of attempting to monopolize the market by pressuring NMDPRA not to license other importers. “When NMDPRA refused, he resorted to blackmail, trying to incite Nigerians against the regulatory body by accusing it of licensing marketers who bring substandard products into the country,” Danlami added.

The youth group called on the National Assembly to publish laboratory results from Dangote’s refinery, alleging that the products might be substandard. “Mr. Dangote has operated in industries with minimal regulation, but the oil and energy sectors are different. He should work collaboratively for the nation’s interest unless he aims to undermine President Bola Ahmed Tinubu’s Renewed Hope agenda,” Danlami warned.

In conclusion, the AYA demanded that Dangote apologize to the government and other business competitors for defamation or face legal consequences. “The Nigerian government is committed to excellence, and Dangote should exemplify quality rather than pursuing selfish desires,” Danlami asserted.

Adhere to established regulations in petroleum industry, Arewa youths slam Dangote