Dangote Opens Up, Accuses Some NNPC Staff, Oil Traders For Owning Blending Plant In Europe
LAGOS JULY 23RD (NEWSRNAGERS)-Africa’s richest man Aliko Dangote says some staff members of the Nigerian National Petroleum Company (NNPC) Limited and oil traders operate a blending plant in Malta, an island country in Europe.
Dangote stated this over the weekend when he received the leadership of the House led by Speaker Tajudeen Abbas and his deputy Benjamin Kalu.
He said the quality of products produced at the Dangote Refinery was far better quality than the ones imported by marketers.
He said the bad fuel imported into the country has damaged many cars. “I still stand by what I said. Go to filling stations, you can check the quality. That is the only way,” he said.
“We know where they blend these things. Some of the NNPC people and some traders have opened a blending plant somewhere off Malta. We all know these areas. We know what they are doing,” Dangote said.
A Cocktail Of Issues
Nigeria, Africa’s most populous nation, faces energy challenges, with all its state-owned refineries non-operational. The country is heavily reliant on imported refined petroleum products, with the state-run NNPC being the major importer of the essential commodities.
Fuel queues are commonplace in the country. Prices of petrol tripled since the removal of subsidy in May 2023, compounding the woes of the citizens who power their vehicles, and generating sets with petrol, no thanks to decades-long epileptic electricity supply.
Last December, Dangote, one of Africa’s leading industrialists, commenced operations at his $20bn facility sited in Lagos with 350,000 barrels a day. The refinery hopes to achieve its full capacity of 650,000 barrels per day by the end of the year. The refinery has begun the supply of diesel and aviation fuel to marketers in the country while petrol supply is expected to commence in August.
Regulatory authorities had questioned the quality of petroleum products produced at the refinery located at the Lekki Free Trade Zone.
During his meeting with federal lawmakers, the billionaire businessman rejected claims that petroleum products from his refinery are substandard. He called on the green chamber to investigate the quality of diesel and petrol at filling stations across the country.
‘Monopoly Claim Untrue’
Dangote also said the claim in some quarters that his group of companies enjoy monopoly is not true.
“If you look at all our operations at Dangote (Group), we add value; we take local raw materials and turn them into products, and we sell.
“We have never consciously or unconsciously stopped anybody from doing the same business that we are doing.
“When we first came into cement production, it was only Lafarge that was operating here in Nigeria…Nobody ever called Lafarge a monopoly,” he said, adding that labelling his group of companies as monopolistic is disheartening.
“Monopoly is when you stop people, you block them through legal means. No, it is a level playing field whereby whatever Dangote was given in cement, for example, other people were given because some of them even got more than us.”
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Posted by News Rangers
on Jul 23 2024. Filed under Business, National.
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