Dangote Should Not Be Allowed To Monopolize Oil Sector — Matrix Energy Boss, Aliyu

Posted by Thandiubani on Thu 08th Aug, 2024 - tori.ng

Aliyu stated this on Wednesday while testifying before a Senate ad-hoc committee investigating alleged economic sabotage in the petroleum industry.

The Chief Executive Officer of Matrix Energy, Abdulkabir Adisa Aliyu has urged the federal government not to allow Dangote Refinery monopolize the oil and gas sector.

The comment was made on Wednesday by Aliyu while testifying before a Senate ad-hoc committee investigating alleged economic sabotage in the petroleum industry.

Aliyu said that Dangote declared ₦133bn profit from Sugar sales in Nigeria within the last six months, adding that such a feat was made possible because he monopolized the Sugar business in Nigeria.

He insisted that the petroleum sector should not be allowed to be monopolized by any person or company, saying monopoly kills business.

He wondered why at a time when Nigerians are crying that the prices of foodstuff are high, that is when Dangote, who enjoys so much monopoly in the sugar sector would be publishing the result of his business, making over ₦133bn in six month.

The Matrix Energy boss argued that such huge profit is only made possible because Nigerians are paying more for the products as they are not allowed to import sugar.

He said, “The most important thing to every responsible government is to make goods and product available to the people at an affordable price.

“Monopoly kills business, and when people invest without doing the needful, that is when you see them accusing everybody. Today Nigerians are crying that the prices of foodstuff is high, while somebody published the result of his business, making over N133bn in six month and it is coming from sugar.

“Nigerians are paying more, because they are not allowed to import sugar. We buy from the monopolistic people. The most important thing is that we are in support of what the senate is doing and at the appropriate time, we will speak our minds.

“We are Nigerians, we are buisness men, and we have done what is required to stabilise energy supply in the country and we will continue to support the government in ensuring that product is adequately available at an affordable price.”

He said at a time when the government is seeking to create more jobs for the people, the investors should be encouraged to invest heavily in the country.

Aliyu added, “We are all Nigerians, we are investors and we are passionate about this country. Myself, all my educations are in nigeria and we have invested heavily in this country.

“Today have over 2,700 staff. We do this because we believe in this country. But when people go to the media to attack people, I think it goes beyond money, beyond business.

“It is something that has a lot of psychological effect. We have been accused of bringing product from Russia or other countries. But it is strange to me as I am not aware that Nigeria has ban or stop the importation of crude oil from some countries.”