Former President Olusegun Obasanjo says some prominent Nigerians benefiting from fuel importation would make efforts to frustrate the Dangote Oil Refinery and Petrochemicals in the country.
Obasanjo said this in a recent interview with British newspaper Financial Times.
The former president, however, stated that if the Dangote refinery succeeds, it would boost investment from Nigerians and foreigners.
Obasanjo said: “Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria.
“If those who are selling or supplying refined products for Nigeria feel that they will lose the lucrative opportunity, they will also make every effort to get him frustrated.”
The Star recalls that the President of Dangote Group, Aliko Dangote, recently declared his readiness to sell the refinery in the Ibeju-Lekki area of Lagos State to the Nigerian National Petroleum Corporation Limited (NNPCL).
Dangote alleged that some individuals who were not happy with the completion of the refinery labelled him a monopolist, noting that he was willing to give up ownership of the 650,000 barrel-per-day refinery to the NNPCL.
FG to NNPC: Sell crude oil to Dangote Refinery in Naira
It would be recalled that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) alleged that the Dangote refinery and other modular refineries like Waltersmith and Aradel produced diesel with sulphur content ranging from 650 to 1200 ppm – a statement criticised by many Nigerians as a tactic to favour imported products over local ones.
Dangote, however, said the company’s refined fuel is of superior quality compared to imported equivalents and meets international standards.
The Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, later met with key stakeholders to resolve the issues surrounding the $20 billion refinery.
Present at the meeting were Dangote; the Chief Executive Officer of NMDPRA, Farouk Ahmed; the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe; and the Group Chief Executive Officer of NNPCL, Mele Kyari.
Nigerian singer Daniel Oyebanjo, popularly known as D’banj, has paid an emotional tribute to his…
The Independent National Electoral Commission (INEC) has cleared former Minister of Communications and Digital Economy,…
Arsenal have lost their appeal against Max Dowman's red card in their stunning Carabao Cup…
Nigerian faith-based film Agbara Nla: The Return is set to open in select US cinemas…
The Nigerian Army has graduated 384 female soldiers after completing Exercise SHINING STAR 2026, a…
Former Imo State Governor Rochas Okorocha has expressed joy over the judgement by the Federal…
This website uses cookies.