Some oil and gas marketers have called on President Bola Tinubu to urgently resolve the ongoing trade war in the downstream petroleum sector to avert further issues, especially in the international arena.
The marketers stated this in response to the ongoing conflict between Farouk Ahmed, the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, and Aliko Dangote, the president of Dangote Group.
Mr Dangote had on Sunday accused the NMDPRA chief of economic sabotage and corruption, saying it was undermining domestic oil refining in Nigeria.
Mr Dangote had accused the leadership of the NMDPRA of colluding with international traders and oil importers to frustrate local refining by continuing to issue import licences for petroleum products.
Mr Dangote claimed that Mr Ahmed was living beyond his legitimate means, stating that four of his children attend secondary schools in Switzerland at a cost running into several million dollars.
He said such expenditure raised serious questions about potential conflict of interest and the integrity of regulatory oversight in the downstream petroleum sector.
On Monday, he expanded his allegations, accusing Mr Farouk of corruption and misappropriation of public funds, providing detailed figures for his children’s education abroad.
Maigandi Garima, national president of the Independent Petroleum Marketers Association of Nigeria, called for a swift intervention by the federal government to address the matter.
Mr Garima said, “Such a crisis is not good in the industry, and can go a long way to cause a lot of damage, especially on the global market. So, quick intervention is what we call for to prevent escalation.”
The Petroleum Products Retail Outlets Owners Association of Nigeria also condemned the situation and called for urgent intervention by Mr Tinubu.
Billy Gillis-Harry, PETROAN national president, who frowned on the development, said it could discourage potential foreign investors and erode confidence in Nigeria’s regulatory institutions.
Mr Gillis-Harry said the association, at its emergency ordinary national general meeting held on Monday, had passed a vote of confidence on NMDPRA, under the leadership of its chief executive officer.
According to him, the decision followed the innovative reforms, strategic governance, and regulatory clarity introduced by the NMDPRA in the Nigerian downstream petroleum sector.
He said these reforms and interventions had significantly improved operational efficiency, transparency, and healthy competition within the industry.
He said the current regulatory framework had enhanced market discipline, encouraged fair play among operators, and created a more stable and competitive downstream environment, benefiting consumers and the national economy.
(NAN)
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