The President of Arewa Oil and Gas Marketers Association of Nigeria (AROGMA), Bashir Ahmad Danmalam, has urged the Nigerian Senate to investigate the Nigerian Independent Petroleum Company (NIPCO) for allegedly withholding shares invested by oil marketers for over 20 years.

In a press release issued to newsmen, Danmalam called on both the Senate and NNPC to intervene and shed light on the issue of shares invested by oil marketers two decades ago, emphasizing that not a single Kobo has benefited them.

According to Danmalam, Nigerian oil marketers are in the dark about the status of their shares at NIPCO.

He urged NNPC to halt the issuance of Products to them until the matter of the withheld shares is resolved.

MD NIPCO

The AROGMA leader further called on the Senate and lawmakers to investigate NIPCO’s actions, stating that despite substantial investments, the shares seem no different from pieces of paper used to wrap roasted meat.

He highlighted the unfortunate situation where only foreigners appear to enjoy the shares invested by Nigerian oil marketers in collaboration with few Nigerians, some of whom have passed away without reaping any benefits for over two decades.

Expressing concern for the masses, Danmalam stressed the Senate’s role in protecting the interests of Nigerians. He called for a thorough check on individuals who may have collaborated to cheat the masses and hundreds of oil markets.

AROGMA insisted that NNPC should cease issuing Products  to NIPCO until the withheld shares are returned to the investors.

Danmalam emphasized that the status of the shares remains unknown, and they are yet to enter the market. AROGMA is committed to taking necessary steps to ensure justice is served, claiming that NIPCO collaborated with individuals, including disgruntled elements and foreigners, without delivering on the promised benefits to those who invested their shares.

Danmalam said that even if one’s close relations, including one’s father, is on a hospital bed and goes to sell the shares to settle his medical bills, NIPCO’s shares are irrelevant and cannot do anything.

He challenged NIPCO to take the shares to the market and affirmed that they cannot be sold.

He called on the Federal Government to cease any relations with NIPCO or its agents to safeguard the sanctity of people’s rights.