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Dangote, NNPC Spat: Shareholders Condemn Demarketing of Dangote Refinery

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<p><&excl;-- BEGIN THEIA POST SLIDER --><&sol;p>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad4" id&equals;"quads-ad4" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<p dir&equals;"ltr">&NewLine;<p dir&equals;"ltr"><b> <&sol;b><&sol;p><div class&equals;"xAkQDcSv" style&equals;"clear&colon;both&semi;float&colon;left&semi;width&colon;100&percnt;&semi;margin&colon;0 0 20px 0&semi;"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js"><&sol;script> &NewLine;<&excl;-- TV --> &NewLine;<ins class&equals;"adsbygoogle" &NewLine; style&equals;"display&colon;block" &NewLine; data-ad-client&equals;"ca-pub-4403533287178375" &NewLine; data-ad-slot&equals;"4399361195" &NewLine; data-ad-format&equals;"auto" &NewLine; data-full-width-responsive&equals;"true"><&sol;ins> &NewLine;<script> &NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi; &NewLine;<&sol;script><&sol;div>&NewLine;<p dir&equals;"ltr">Shareholders have strongly defended Africa&&num;8217&semi;s foremost industrialist&comma; Aliko Dangote over the on-going petroleum product supply controversies&comma; while criticising the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority &lpar;NMDPRA&rpar;&comma; Farouk Ahmed&comma; for deliberate attempt at demarketing Dangote Petroleum Refinery &amp&semi; Petrochemicals&period;<&sol;p><div class&equals;"ohltDiEX" style&equals;"clear&colon;both&semi;float&colon;left&semi;width&colon;100&percnt;&semi;margin&colon;0 0 20px 0&semi;"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js"><&sol;script> &NewLine;<&excl;-- TV --> &NewLine;<ins class&equals;"adsbygoogle" &NewLine; style&equals;"display&colon;block" &NewLine; data-ad-client&equals;"ca-pub-4403533287178375" &NewLine; data-ad-slot&equals;"4399361195" &NewLine; data-ad-format&equals;"auto" &NewLine; data-full-width-responsive&equals;"true"><&sol;ins> &NewLine;<script> &NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi; &NewLine;<&sol;script><&sol;div>&NewLine;<p dir&equals;"ltr">The shareholders under the aegis of Pragmatic Shareholders Association of Nigeria &lpar;PSAN&rpar; in a statement signed by its National Coordinator&comma; Mrs&period; Bisi Bakare&comma; expressed dismay over the recent allegations from the petroleum regulatory agency regarding the quality of diesel produced by Dangote Petroleum Refinery&period;<&sol;p>&NewLine;<p dir&equals;"ltr"> Dangote has ensured that the bulk of his business investments are local&comma; contributing significantly to economic development through tax payments&comma; extensive job creation&comma; and consistent returns for shareholders&comma;&&num;8221&semi; she added&period;<&sol;p>&NewLine;<p dir&equals;"ltr">&NewLine;<p dir&equals;"ltr">The shareholders group strongly condemned what they termed as &&num;8220&semi;unwarranted efforts to demarket the refinery&&num;8221&semi; by regulatory bodies&period; They cautioned that such actions could deter both local and international investors and undermine government efforts to stabilise fuel prices and ensure availability&period;<&sol;p>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad1" id&equals;"quads-ad1" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad4" id&equals;"quads-ad4" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<div class&equals;"5iPBWIB8" style&equals;"clear&colon;both&semi;float&colon;left&semi;width&colon;100&percnt;&semi;margin&colon;0 0 20px 0&semi;"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js"><&sol;script> &NewLine;<ins class&equals;"adsbygoogle" &NewLine; style&equals;"display&colon;block&semi; text-align&colon;center&semi;" &NewLine; data-ad-layout&equals;"in-article" &NewLine; data-ad-format&equals;"fluid" &NewLine; data-ad-client&equals;"ca-pub-4403533287178375" &NewLine; data-ad-slot&equals;"6550225277"><&sol;ins> &NewLine;<script> &NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi; &NewLine;<&sol;script><&sol;div>&NewLine;<p dir&equals;"ltr">We must rally around Dangote Refinery&comma;&&num;8221&semi; Mrs&period; Bakare urged&comma; &&num;8220&semi;to provide crucial support such as crude oil allocation&comma; cooperation from international oil companies&comma; and regulatory agency collaboration&period;&&num;8221&semi; She stressed the refinery&&num;8217&semi;s potential to save Nigeria over 30&percnt; in foreign exchange currently spent on offshore refining&comma; which could significantly alleviate the country&&num;8217&semi;s foreign exchange challenges&period;<&sol;p>&NewLine;<p dir&equals;"ltr">&NewLine;<p dir&equals;"ltr">&&num;8220&semi;As shareholders&comma;&&num;8221&semi; Mrs&period; Bakare affirmed&comma; &&num;8220&semi;we remain steadfast in our support of Alhaji Aliko Dangote&&num;8217&semi;s vision to bolster the nation&&num;8217&semi;s economy and create more opportunities for our citizens&period;&&num;8221&semi;<&sol;p>&NewLine;<p dir&equals;"ltr">PSAN is the latest to join the growing list of Nigerians rallying support for Dangote in the ongoing standoff&period; Prominent figures and associations such as the President of the African Development Bank Group &lpar;AfDB&rpar;&comma; Akinwumi Adesina&semi; billionaire businessman&comma; Femi Otedola&semi; federal lawmakers&semi; former Vice President and 2023 presidential candidate of the Peoples Democratic Party &lpar;PDP&rpar;&comma; Atiku Abubakar&semi; former Anambra state governor and 2023 Labour Party presidential candidate&comma; Peter Obi&semi; Nigerian Association of Chambers of Commerce&comma; Industry&comma; Mines&comma; and Agriculture &lpar;NACCIMA&rpar;&semi; and the Manufacturers Association of Nigeria have all voiced their support for Dangote Refinery&period;<&sol;p>&NewLine;<p><&excl;-- END THEIA POST SLIDER -->&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad5" id&equals;"quads-ad5" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;<&sol;p>&NewLine;<script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js"><&sol;script> &NewLine;<ins class&equals;"adsbygoogle" &NewLine; style&equals;"display&colon;block" &NewLine; data-ad-format&equals;"autorelaxed" &NewLine; data-ad-client&equals;"ca-pub-4403533287178375" &NewLine; data-ad-slot&equals;"1004305389"><&sol;ins> &NewLine;<script> &NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi; &NewLine;<&sol;script>&NewLine;<&excl;-- WP QUADS Content Ad Plugin v&period; 2&period;0&period;95 -->&NewLine;<div class&equals;"quads-location quads-ad3" id&equals;"quads-ad3" style&equals;"float&colon;none&semi;margin&colon;0px&semi;">&NewLine;&NewLine;<&sol;div>&NewLine;&NewLine;

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