The Manufacturers Association of Nigeria (MAN) has expressed grave concern and called for caution from major actors, government agencies and regulators in the oil and gas sector of the economy over the recent allegations of poor quality of diesel levelled against one of the largest private investments in Africa.
The director-general of the Association, Segun Ajayi-Kadir, said “it is expected that agencies of government, that provide regulatory oversight functions should promote an enabling business environment for local investments to thrive.
“No regulatory agency should be seen to be casting a shadow over a home-grown investment like the Dangote Refinery.”
He stated that the allegations of poor quality, monopolistic tendencies and non-issuance of licence against Dangote Refinery have since been roundly debunked, saying that there may then be the need to issue a clarification that absolves the Dangote Refinery of the negative perception generated by the news report.
Ajayi-Kadir further stressed that, “local investors in Nigeria, particularly the Dangote Industries Limited play a vital role in driving economic growth, they pay taxes, they create jobs and foster development within the country.
“As such, it is important that these investors are protected and given the necessary support to thrive in this business environment.”
He said a business colossus like Alhaji Aliko Dangote, with investments in diverse sectors of the economy and across the Continent of Africa, should be accorded all needed support to grow and invest in more sectors and positively impact the wellbeing of the people.
According to him, there is no gainsaying the fact that Dangote Refinery is deserving of government protection and support.
“The Dangote Refinery, located in Lagos, the largest single-train refinery in the world, will play a significant role in reducing Nigeria’s dependence on imported petroleum products, reduce cost and energy poverty and significantly boost our energy sufficiency. This is also a company in which Nigeria and Nigerians are shareholders.
“We should never encourage or promote a preference for imported products over local alternatives. This amounts to importing poverty and exporting prosperity.”
He noted that the manufacturing sector is beset with multifaceted challenges, saying it is imperative that the Nigerian government takes proactive steps to address these binding constraints in order to improve the competitiveness of local industries and enhance their contribution to the GDP.
He added that, “local investors are not only drivers of economic growth but also champions of national development. They are the mirrors of our national industrial aspirations and their wellbeing is the attraction for both local and foreign would-be investors.”
He pointed out that “on the other hand, supporting and protecting local investors like the Dangote Refinery, would be sending a clear signal to foreign investors to take advantage of the conducive environment and invest, thereby creating jobs and building a more prosperous future for our people.”
The Association called on the Nigerian government to prioritise the protection of local investors and actively take necessary steps to improve the operating environment for manufacturers and other economic operators to thrive.
