Aliyu Urges Govt to Prevent Dangote Refinery from Monopolizing Oil Sector

Abdulkabir Adisa Aliyu, Chief Executive Officer of Matrix Energy, has urged the federal government to ensure that Dangote Refinery does not establish a monopoly in Nigeria’s oil and gas sector.

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

Aliyu expressed concerns over Dangote’s dominant position in the sugar industry, highlighting the company’s recent ₦133 billion profit within six months. He argued that such profits are only achievable due to the monopolistic control that has stifled competition and led to higher prices for consumers.

He warned against allowing similar dominance in the petroleum sector, stating, “Monopoly kills business.” Aliyu stressed that the government’s primary responsibility is to ensure that goods and services are accessible and affordable for the public.

The Matrix Energy boss reiterated his support for the Senate’s ongoing investigation and emphasized the importance of fair competition in fostering economic growth. He called for policies that encourage investment and job creation, rather than enabling monopolistic practices that could harm the broader economy.

Aliyu also dismissed allegations that his company had imported crude oil from sanctioned countries, stating, “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 banned or stopped the importation of crude oil from some countries.”

He concluded by reaffirming his commitment to supporting the government in stabilizing energy supply and ensuring that products are available at fair prices.