Shareholders have strongly defended Africa’s foremost industrialist, Aliko Dangote, while criticising the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, for deliberate attempt at demarketing Dangote Petroleum Refinery and Petrochemicals.
The Pragmatic Shareholders Association of Nigeria (PSAN) in a statement by its National Coordinator, Mrs. Bisi Bakare, expressed dismay over recent allegations from the petroleum regulatory agency regarding the quality of diesel produced by Dangote Petroleum Refinery. NMDPRA boss has faced backlash for suggesting that the diesel produced by the $20 billion Dangote refinery is of inferior quality compared to imported diesel.
Bakare commended Dangote for his visionary approach in establishing one of the world’s foremost refineries in Nigeria. She highlighted Dangote’s commitment to national development, stressing his patriotism and resolute character through substantial investments like the refinery.
“Dangote has ensured that the bulk of his business investments are local, contributing significantly to economic development through tax payments, extensive job creation, and consistent returns for shareholders,” she added.
“We must rally around Dangote Refinery,” Mrs. Bakare urged, “to provide crucial support such as crude oil allocation, cooperation from international oil companies, and regulatory agency collaboration.” She stressed the refinery’s potential to save Nigeria over 30% in foreign exchange currently spent on offshore refining, which could significantly alleviate the country’s foreign exchange challenges.
“As shareholders,” Mrs. Bakare affirmed, “we remain steadfast in our support of Alhaji Aliko Dangote’s vision to bolster the nation’s economy and create more opportunities for our citizens.”
PSAN has joined the list of Nigerians rallying support for Dangote in the ongoing standoff.
Prominent figures and associations such as the President of the African Development Bank Group (AfDB), Akinwumi Adesina; billionaire businessman, Femi Otedola; federal lawmakers; former Vice President and 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar; former Anambra state governor and 2023 Labour Party presidential candidate, Peter Obi; Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA); and the Manufacturers Association of Nigeria have all voiced their support for Dangote Refinery.
SAHARA REPORTERS
