Former president Olusegun Obasanjo has claimed that influential individuals in Nigeria’s oil and gas industry are determined to hinder the progress of the $20 billion Dangote Refinery due to their vested interests in the importation of refined petrol.
He made these remarks during a recent interview with the Financial Times.
This revelation comes at a time when the Dangote Refinery is facing challenges related to the supply of crude oil.
In response to this situation, President Bola Ahmed Tinubu directed the Nigerian National Petroleum Company Limited to provide crude oil to Dangote Refinery and other local refineries in Naira.
Obasanjo emphasized the significance of the success of Dangote Refinery, stating that it would attract both domestic and foreign investments to Nigeria.
He noted that those “selling refined products for Nigeria” feel that they will lose the lucrative opportunities.
“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,” Obasanjo stated.
Devakumar Edwin, the Vice President of Dangote Industries, has also raised concerns about international oil companies selling crude oil to Dangote Refinery at inflated prices, further complicating the situation.
This comes as the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Chief Executive Officer, Farouk Ahmed had accused Dangote of monopolistic tendency.
However, Dangote had faulted Ahmed’s accusations.
