{"id":339020,"date":"2024-09-18T08:14:52","date_gmt":"2024-09-18T07:14:52","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=339020"},"modified":"2024-09-18T08:14:52","modified_gmt":"2024-09-18T07:14:52","slug":"dangote-refinery-criticized-as-bad-business-for-nnpcl-laolu-akande","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2024\/09\/18\/dangote-refinery-criticized-as-bad-business-for-nnpcl-laolu-akande\/","title":{"rendered":"Dangote Refinery Criticized as \u2018Bad Business\u2019 for NNPCL \u2013 Laolu Akande"},"content":{"rendered":"<ul class=\"marker:text-textOff list-disc pl-8\">\n<li><strong>Laolu Akande criticizes Dangote Refinery as &#8220;bad business&#8221; for NNPCL, citing systemic corruption and conflict of interest in the industry<\/strong><\/li>\n<li><strong>Akande calls for presidential intervention to address regulatory challenges, emphasizing the need for integrity in Nigeria&#8217;s petroleum sector<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>Laolu Akande, a former Presidential Aide, has criticized the Dangote Refinery as &#8220;bad business&#8221; for the Nigerian National Petroleum Corporation Limited (NNPCL).<\/p>\n<p>In an interview with Channels TV\u2019s Sunrise Daily, Akande highlighted systemic corruption issues that he believes the refinery exacerbates. He stated, \u201cThe Dangote Refinery will contribute to our energy security by ensuring a steady fuel supply in the country. However, what\u2019s being overlooked is that the refinery is problematic for the NNPCL and the existing corrupt system.\u201d<\/p>\n<p>Akande explained that the establishment of the refinery introduces a conflict of interest. He pointed out that the NNPCL\u2019s primary business involves importing refined petroleum\u2014a highly lucrative segment and prone to corruption. \u201cThe main business of NNPCL is importing refined petroleum. Dangote\u2019s refinery threatens this lucrative segment, which is why there\u2019s so much drama and conflict between NNPC and Dangote Refinery,\u201d Akande said.<\/p>\n<p>He further criticized the ongoing dispute between NNPC and Dangote Refinery, attributing it to the disruption of entrenched interests benefiting from NNPC\u2019s long-standing monopoly on refined petrol imports. \u201cDangote has challenged the entrenched interests that have benefited from NNPC\u2019s sole importation of refined petrol for decades,\u201d Akande added.<\/p>\n<p><a href=\"https:\/\/www.withinnigeria.com\/news\/2024\/02\/03\/insecurity-time-for-state-police-is-now-laolu-akande\/\">Akande<\/a> also expressed surprise at the lack of decisive intervention from the Nigerian President. \u201cI\u2019m surprised that the President hasn\u2019t addressed this issue more directly to restore confidence in the regulatory process,\u201d he remarked, calling for presidential action to address the regulatory challenges and restore integrity to Nigeria\u2019s petroleum sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Laolu Akande criticizes Dangote Refinery as &#8220;bad business&#8221; for NNPCL, citing systemic corruption and conflict of interest in the industry Akande calls for presidential intervention to address regulatory challenges, emphasizing the need for integrity in Nigeria&#8217;s petroleum sector Laolu Akande, a former Presidential Aide, has criticized the Dangote Refinery as &#8220;bad business&#8221; for the Nigerian [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":338796,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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