Former president Olusegun Obasanjo has stated that cabals within Nigeria’s oil and gas sector will continue to obstruct the $20 billion Dangote Refinery due to their vested interests in refined petrol imports.
He revealed this in a recent interview with the Financial Times.
This statement comes amidst ongoing challenges the Dangote Refinery faces regarding crude oil supply.
Recently, Bola Ahmed Tinubu directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other local refineries in Naira.
Speaking about the difficulties faced by Aliko Dangote, Chairman of the Dangote Group, Obasanjo noted that if the refinery succeeds, it will encourage both Nigerian and international investors to invest in the country.
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.
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“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, Vice President of Dangote Industries, has raised concerns that international oil companies are hindering Dangote Refinery by selling crude at inflated prices.
Meanwhile, the Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, has accused Dangote of monopolistic practices.
In response, Dangote has refuted Ahmed’s allegations.
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