June 23, 2024
Suit 25, Mangal Plaza, Nouakchott Street, Wuse Zone 1, Abuja- Nigeria.

AROGMA Calls for Senate Probe into NIPCO’s 20-Year Withholding of Oil Marketers’ Shares

In a recent press release, the President of Arewa Oil and Gas Marketers Association of Nigeria (AROGMA), Bashir Ahmad Danmalam, has called upon the Nigerian Senate to initiate a thorough investigation into the Nigerian Independent Petroleum Company (NIPCO). The allegation is centered around NIPCO’s purported withholding of shares invested by oil marketers for more than two decades.

Danmalam, in his statement to the press, emphasized the urgent need for the Senate and the Nigerian National Petroleum Corporation (NNPC) to intervene and provide clarity on the longstanding issue. He expressed concern that, despite substantial investments made by Nigerian oil marketers, there has been no discernible benefit, and the status of the shares remains uncertain.

In an exclusive interview with Energy Afrique, AROGMA President Bashir Ahmad Danmalam accuses NIPCO of non-payment spanning more than 20 years, prompting a call for immediate Senate action.

The AROGMA leader urged the NNPC to temporarily halt the issuance of products to oil marketers associated with NIPCO until the matter is thoroughly investigated and resolved. He underscored the plight of Nigerian oil marketers who, despite significant investments, are reportedly uninformed about the current status of their shares with NIPCO.

Danmalam further called on the Senate and lawmakers to scrutinize NIPCO’s actions, highlighting the disparity between the promised benefits and the actual returns on investments. He raised concerns about the apparent discrepancy where foreign entities seem to be enjoying the benefits of these investments while Nigerian investors are left in the dark.

Expressing deep concern for the masses, Danmalam stressed the vital role of the Senate in protecting the interests of Nigerians. He insisted that NNPC should refrain from supplying products to NIPCO until the concerns regarding withheld shares are adequately addressed.

In his closing remarks, Danmalam challenged NIPCO to transparently take the shares to the market, asserting that, as it stands, they seem unsellable. He called on the Federal Government to reconsider any affiliations with NIPCO or its agents to ensure the protection of people’s rights and interests.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.