CEO of Dangote Group, Alhaji Aliko Dangote, has alleged that regulatory authorities delay clearance for his crude oil shipments arriving in Nigeria, taking days to process what should be routine approvals.
Speaking from 6:53 in a media broadcast reported by Channels TV, Dangote criticized the use of imports to undermine domestic production. “You don’t use imports to checkmate domestic production because you are creating jobs elsewhere. Whether we have risked our own money, whether the regulator wants us to be alive or not, we’ll still be here. Every day when we bring in ships to come and offload, it takes days for us to have clearance, which shouldn’t be the case, but we’re fighting that,” he said.
The industrialist expressed frustration over the monopoly accusations which he claimed is unique to Nigeria’s business environment.
Dangote questioned why Nigerian regulators obsess over monopoly concerns when Standard Oil operated as America’s sole refiner without similar criticism.
He argued that authorities should encourage additional investment rather than penalizing existing producers, arguing that market regulation becomes appropriate only after multiple competitors establish operations. View, More,
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