The Manufacturers Association of Nigeria, (MAN), has cautioned the federal government against demarketing local industries.
This came on a day civil society and religious groups demanded a probe into activities of the Nigerian National Petroleum Company Limited (NNPCL), following allegations by Africa’s richest man, Aliko ?angote, that some officials of the company operate a blending plant in Malta, from where they import low quality fuel into the country.
MAN also called for caution from major actors, government agencies, and regulators in the oil and gas sector of the economy regarding the Federal Government-?angote Refinery saga.
Its Director-General, Segun Ajayi-Kadir, who gave the warning, said government agencies providing regulatory oversight functions should promote an enabling business environment for local investments to thrive. He said no regulatory agency should cast a shadow over a homegrown investment, such as ?angote Refinery.
According to him, the allegations of poor quality, and monopolistic tendencies levelled against Dangote Refinery by the Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), were unsubstantiated.
Ajayi-Kadir stressed that local investors in Nigeria, particularly the ?angote Industries Limited play a vital role in driving economic growth, paying taxes, creating jobs and fostering development within the country. He said, ”As such, these investors must be protected and given the necessary support to thrive in this business environment”.
He said a business colossus as Aliko ?angote, with investments in diverse sectors of the economy and across the continent, should be accorded all needed support to grow and invest in more sectors and positively impact the well-being of the people”.
