Depot and Petroleum Marketers Association of Nigeria, DAPMAN, has declared that the N133billion profit on sugar sales within the first six months of the year, declared by the Dangote Group of Companies, was a fall out of monopoly allowed in the petroleum sector.

Major stakeholders in the sector like DAPMAN and the Independent Petroleum Marketers Association of Nigeria, IPMAN, have kicked against monopoly in the Industry even as the Nigerian National Petroleum Company Limited, NNPCL and the Dangote refinery allegedly had disagreement over operational procedures recently.

In separate presentations made by the national leadership of DAPMAN and IPMAN to Senate Ad-hoc committee probing alleged economic sabotage in the petroleum sector last Thursday, they warned that monopoly in the Industry, would not only run contrary to liberalization provided for by the 2021 Petroleum Industry Act, PIA, but subject Nigerians to the whims and caprices of a firm or monopolistic investor.

Specifically, the National President of IPMAN, Alhaji Abubakar Shettima, told the Senator Opeyemi Bamidele-led committee that “the current value chain in the downstream should be sustained to allow other investors to participate.”

He added that NNPCL is doing its best but should please improve on supply of products to retail outlets across the country to end the incessant queue at filling stations .

Expressing similar view, the National Chairman of DAPMAN, Abdulkabir Adisa Aliyu said monopoly kills business and should not be allowed in the petroleum sector .

According him, the N133billion profit on sugar sales within the first six months of the year, declared by Dangote, was a fall out of monopoly allowed in the business.

“Investors like Dangote are no doubt , needed in sectors of interest but level playing field should be provided for others to thrive as well by concerned regulatory agencies,” he said.

However, representative of Dangote at the interactive session, Aliyu Suleiman, said the firm has never driven any other competitor out of business and not aiming at that , in the Petroleum sector since Nigeria runs a free market economy, guided by relevant laws like the PIA

Suleiman disclosed that out of the five million crude oil they got in recent time , NNPCL gave them 60%, 20% imported and 20% purchased.

He commended the NNPCL for making the huge supply to Dangote but added that the refinery is a baby that should be supported by all relevant stakeholders to grow and not die .