Deregulation not guarantee for you to import substandard products, Dangote fires back at Pinnacle oil
CAPE TOWN\SOUTH AFRICA, 06MAY11 - Aliko Dangote, President and Chief Executive Officer, Dangote Group, Nigeria, during the African Fellowship Programe with Young Global Leaders announcement at the World Economic Forum on Africa 2011 held in Cape Town, South Africa, 4-6 May 2011. ..Copyright (cc-by-sa) (C) World Economic Forum (www.weforum.org/Photo Matthew Jordaan matthew.jordaan@inl.co.za
Omeiza Bilal
Dangote Petroleum Refinery and Petrochemicals has advised Pinnacle Oil and Gas Limited that deregulation should not be used as a justification to import substandard products into the country.
The refinery made this statement in response to remarks by Robert Dickerman, CEO of Pinnacle Oil and Gas Limited, concerning the importation and blending of petroleum products, which he framed within the context of a “deregulated commodity market.”
Dangote Petroleum Refinery said that his argument for a deregulated market could not obscure the serious implications of his actions, which, it claimed, not only threatened the integrity of Nigeria’s energy sector but also endangered the welfare of its citizens.
While reiterating its support for deregulation and industrialisation, Dangote emphasised that this support is grounded in a commitment to the sustainable growth of the country’s economy and the protection of its people from exploitation. The refinery made it clear that the health and safety of Nigerians should never be compromised in the pursuit of profit.
“The Dangote Petroleum Refinery and Petrochemicals Company has long been an advocate for deregulation and industrialisation in Nigeria, but our support is rooted in a commitment to the sustainable growth of the country’s economy and the protection of its people from any exploitation. Unlike Dickerman’s view, deregulation should not be a licence for the importation and distribution of off-spec products or the subversion of national interests,” it said.
The company also raised concerns over Pinnacle Oil’s decision to lease its tank farms to a company without any retail outlets in Nigeria, questioning the strategic intent behind such actions, particularly given that the farms are located just 500 metres from Dangote’s refinery. It expressed its vigilance regarding the coordinated efforts to undermine the Dangote Refinery, drawing parallels to the fate of refineries in Port Harcourt, Kaduna, and Warri.
Dangote Petroleum Refinery called on the government, patriotic Nigerians, and local businesses to remain steadfast in defending the country’s sovereignty and economic independence.
“The choice we face is between fostering industrialisation or allowing Nigeria to remain a dumping ground for inferior products while exporting jobs. For nearly three decades, cartels and their collaborators have sabotaged efforts to develop Nigeria’s refining capacity, keeping the country dependent on imported products. The time has come to end this cycle of exploitation and ensure that Nigeria’s energy sector works for the benefit of its people,” it added.
Reiterating its belief that a strong, self-sufficient energy sector is vital for Nigeria’s economic growth, Dangote affirmed that it will continue to advocate for policies and practices that protect both industries and the well-being of all Nigerians.
“We eagerly anticipate the coming on stream of the Kaduna, Warri, and Port Harcourt refineries before the end of this year, as promised by the Group Chief Executive Officer (GCEO) of NNPCL, Mele Kyari. This milestone will not only end all baseless rumours of monopoly but also position Nigeria as a refining hub for petroleum products in Africa,” it concluded.
