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 made this known, while reacting to the current war between Mr Farouk Ahmed, Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and the President of Dangote Group, Alhaji Aliko Dangote.
The News Agency of Nigeria (NAN) reports that Dangote had on Sunday accused Ahmed of economic sabotage, which he said was undermining domestic refining in Nigeria.
Dangote had accused the leadership of the NMDPRA of colluding with international traders and oil importers to frustrate local refining through the continued issuance of import licences for petroleum products.
Dangote claimed that Ahmed was living beyond his legitimate means, claiming that four of his children attend secondary schools in Switzerland at costs running into several millions of 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.
Speaking with NAN, Alhaji Maigandi Garima, National President, Independent Petroleum Marketers Association of Nigeria (IPMAN), called for a quick intervention by the Federal Government to tackle the matter.
Garima said such war was not needed in the industry as it could erode confidence being built in the sector in the international space.
He called the attention of the government for a dialogue between the parties, to have an extensive discussion towards settling the dispute.
“Such crisis is not good in the industry, and can go a long way to cause a lot of damages, especially on the global market. So quick intervention is what we call for to prevent escalation,” he said.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) also condemned the situation and called for urgent intervention by President Bola Tinubu.
Dr Billy Gillis-Harry, PETROAN National President, who frowned at the development said it was capable of discouraging potential foreign investors and eroding confidence in Nigeria’s regulatory institutions.
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 for the benefits of consumers and the national economy.
