Nigeria's Gasoline Retailers Warn of Dangote Refinery Monopoly
Gasoline retailers in Nigeria accused Aliko Dangote, Africa's richest person, of seeking to monopolize the sales of petroleum products in the West African nation with his mega refinery.
The Petroleum Products Retail Outlets Association of Nigeria said that a plan by Dangote Refinery to freely ship gasoline products from the plant to dealers across the country 'could lead to a monopoly in disguise and pose a significant job loss threat to Nigeria.' The company may 'leverage its market power to fix prices, limit competition and exploit consumers,' the trade group said in a statement on Monday.
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Gasoline retailers in Nigeria accused Aliko Dangote, Africa's richest person, of seeking to monopolize the sales of petroleum products in the West African nation with his mega refinery. The Petroleum Products Retail Outlets Association of Nigeria said that a plan by Dangote Refinery to freely ship gasoline products from the plant to dealers across the country 'could lead to a monopoly in disguise and pose a significant job loss threat to Nigeria.' The company may 'leverage its market power to fix prices, limit competition and exploit consumers,' the trade group said in a statement on Monday.
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