Mohammed Shosanya
The Manufacturers Association of Nigeria,MAN,has emphasized the need for the Federal Government to protect and support Dangote Refinery to enable it thrive.
Its Director-General, Segun Ajayi-Kadir, expressed this in a statement on Tuesday, wherein he faulted the recent controversial remarks of the Nigerian Midstream and Downstream Petroleum Authority,on the diesel of Dangote Refinery.
The Dangote Refinery,he said, 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.
He said:”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.
“As you are aware, the manufacturing sector is beset with multifaceted challenges. They include: high cost of electricity, high cost of compliance with regulatory requirements, lack of access to financing, unfavorable foreign exchange and unfair competition from imported and smuggled products.
“It is therefore 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 Gross Domestic Product”.
He added that local investors are not only drivers of economic growth but also champions of national development.
The investors,he said,are the mirrors of the country’s national industrial aspirations and their wellbeing is the attraction for both local and foreign would-be investors.
According to him,there is hardly any major foreign investor that would be encouraged to invest in Nigeria by the recent unwarranted castigation of Dangote Refinery.
He maintained thatsupporting 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 Nigerians.
He called for caution from major actors, government agencies and regulators in the oil and gas sector of the economy over the recent debunked allegations of poor quality of diesel leveled against Dangote Refinery.
He said,it is expected that agencies of government, that provide regulatory oversight functions should promote an enabling business environment for local investments to thrive.
He added:”No regulatory agency should be seen to be casting a shadow over a home grown investment like the Dangote Refinery. The allegations of poor quality, monopolistic tendencies and non issuance of license have since been roundly debunked.
“There may then be the need to issue a clarification that absolves the Dangote Refinery of the negative perception generated by the news report”
He said that,local investors in Nigeria, particularly the Dangote Industries Limited (DIL) play a vital role in driving economic growth, they pay taxes, they create jobs and foster development within the country.
