AROGMA urges national assembly to probe NIPCO’s withholding of oil marketers’ shares

The President of Arewa Oil and Gas Marketers Association of Nigeria (AROGMA), Bashir Ahmad Danmalam, has urged the Senate to investigate the Nigerian Independent Petroleum Company (NIPCO) over alleged withholding shares invested by oil marketers for over 20 years.

In a statement issued to newsmen on Monday, in Abuja, Danmalam called on both the Senate and NNPC to intervene and shed light on the issue of shares invested by oil marketers two decades ago, emphasizing that not a single Kobo has been benefited.

According to Danmalam, Nigerian oil marketers are in the dark about the status of their shares at NIPCO.

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The statement urged NNPC to halt the issuance of products to them until the matter of the withheld shares is resolved.

The AROGMA leader further called on the National Assembly to investigate NIPCO’s actions, stating that despite substantial investments, the shares seem no different from pieces of paper used to wrap roasted meat.

He highlighted the unfortunate situation where only foreigners appear to enjoy the shares invested by Nigerian oil marketers in collaboration with a few Nigerians, some of whom have passed away without reaping any benefits for over two decades.

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Danmalam emphasized that the status of the shares remains unknown, and they are yet to enter the market.

AROGMA is committed to taking necessary steps to ensure justice is served, claiming that NIPCO collaborated with individuals, including disgruntled elements and foreigners, without delivering on the promised benefits to those who invested their shares.

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Danmalam said that even if one’s relation needs medical attention and goes to sell the shares to settle his medical bills, NIPCO’s shares are irrelevant and cannot do anything.

He challenged NIPCO to take the shares to the market and affirmed that they cannot be sold.