Aare Afe Babalola, founder of Afe Babalola University (ABUAD), has called on the Nigerian National Petroleum Company Limited (NNPCL) to dismantle its monopoly and permit Dangote Refinery to sell petrol at a competitive rate, ultimately benefiting Nigerian consumers.
Babalola made this appeal while receiving the ‘Outstanding Achiever of All Time’ award from the Ekiti-Kete Coalition in the United States. He emphasized the need for market competition, stating, “If Dangote has invested significantly in building a massive refinery, why should the NNPC require him to sell to them first before reaching the public? Allowing him to sell directly will help reduce fuel prices.”
He further argued that the market should be open to anyone capable of establishing a refinery, which would foster competition and lower costs for consumers. “There should be no NNPC monopoly. Let Dangote sell at his rate, and prices will decrease,” he asserted.
During the award presentation at ABUAD, Babalola expressed gratitude for the recognition, highlighting the importance of community support and appreciation for local achievements. “I thank the Ekiti Kete Coalition for honoring me. It is a challenge for us to change our mindset; many with greater resources than I have failed to invest in education and development,” he remarked.
Joe Olugbamila, President of the Ekiti-Kete Coalition, praised Babalola’s extensive contributions to education, healthcare, law, agriculture, and humanitarian efforts, stating, “Afe Babalola is an institution and an icon; his work inspires us all to strive for improvement in Ekiti.”
