Fuel Importers Will Frustrate Dangote Refinery—Obasanjo

Former President Olusegun Obasanjo has stated that those who benefit from fuel importation will do all in their ability to undermine the Dangote Petroleum Refinery.

In an interview with the Financial Times, the former President described the Dangote refinery as a project that will benefit both Nigerians and non-Nigerians.

“If Aliko’s refinery investment succeeds, both Nigerians and non-Nigerians will be encouraged 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 president said.

Obasanjo’s comments came after the President of the Dangote Group, Aliko Dangote, accused some government and non-government officials of attempting to sabotage the $20 billion refinery.

Officials from the Dangote Group recently complained that multinational oil companies were frustrating the refinery by refusing to supply crude or selling it at a premium of up to $4 above the customary price.

This triggered the Federal Executive Council’s decision to the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Refinery and other local refineries in naira rather than US dollars.

The regulator denied this, saying Dangote diesel was inferior when compared to the imported ones.

They also accused the Nigerian Midstream and Downstream Regulatory Authority of purposefully issuing licenses to individuals to import filthy fuel.

The NMDPRA Chief Executive, Farouk Ahmed, also stated that the country would not stop fuel importation to avoid a monopoly by the Dangote Group.

Dangote commenced operations at his behemoth facility located in Lagos last December with 350,000 barrels a day. The refinery hopes to achieve its full capacity of 650,000 barrels per day by the end of the year.

The refinery has begun the supply of diesel and aviation fuel to marketers in the country while petrol supply is expected to commence in August amid regulatory resistance.

Kwankwaso Blames Dangote Refinery Saga On Vested Interests

In the wake of the controversies, former Kano State Governor, Rabiu Kwankwaso, while weighing in on the disagreement, blamed the saga on vested interests.

Kwankwaso responded via his X Twitter, blaming what he called ‘unnecessary fuss’ on vested interests, claiming it might harm investor confidence in the Nigerian economy.
The unwarranted fuss made over its integrity by some vested interests is quite terrible, and it threatens to ruin all the years of hard effort to maintain the fragile investor trust in our economy,” he said.

The presidential candidate of the New Nigeria People’s Party (NNPP) for the 2023 general elections praised Dangote’s refinery as a critical asset for the country’s energy needs and economic stability.

He also emphasized the need of safeguarding the asset against any risks that could jeopardize its functioning.

I was privileged to see the wonderful Dangote Refinery, and I was amazed by the absolute dedication that went into the quality of its institution.

“It is time for us to unite behind this National Asset to ensure that the mammoth project succeeds. “It cannot fail, and the Nigerian government must recognize this by demonstrating fairness and confidence in both domestic and foreign critical investments,” he said.