Niger Delta Youth Congress Demands End to Monopolistic Practices in Energy Sector

The Niger Delta Youth Congress (NDYC) has called on the federal government to implement stringent regulations to prevent monopolistic practices and promote fair competition in the energy sector. The group has also demanded that Dangote Group reconsider its approach and embrace a collaborative strategy that benefits the entire nation. In a statement yesterday, NDYC National […]

The Niger Delta Youth Congress (NDYC) has called on the federal government to implement stringent regulations to prevent monopolistic practices and promote fair competition in the energy sector.

The group has also demanded that Dangote Group reconsider its approach and embrace a collaborative strategy that benefits the entire nation.

In a statement yesterday, NDYC National Coordinator Comrade Israel Uwejeyan expressed the group’s unwavering support for the Nigerian National Petroleum Corporation Limited’s (NNPCL) stance against monopolization in the energy sector.

He emphasized the need for a competitive, transparent, and inclusive energy market to ensure the prosperity and security of Nigeria.

The NDYC is organizing a protest on July 28th across six states in the South-South region to urge the NNPCL and the federal government to reject alleged attempts to monopolize the sector.

The NDYC vowed to take necessary action to prevent any entity from undermining fair competition and equitable resource distribution, saying it will not allow one man’s pursuit of power to dictate the destiny of Nigeria’s energy sector.

He said: “We stand united in our support of NNPCL and their stance against monopolistic practices in the energy sector. We firmly believe that no individual or entity should be allowed to monopolise the energy sector. The implications of such monopolisation are far-reaching and detrimental to the economic stability, energy security, and overall well-being of our nation.

“Our energy sector is the lifeblood of Nigeria’s economy, and its equitable management is crucial to ensuring sustainable development and national security. Monopolistic control of the energy sector threatens to stifle competition, innovation, and efficiency. It places an enormous amount of power in the hands of a single entity, which can lead to price manipulation, supply constraints, and a lack of accountability.

“The very essence of a free market economy is undermined when monopolies are allowed to flourish, leading to adverse effects on consumers, businesses, and the broader economy.”