Former President Olusegun Obasanjo has sounded a warning to those who may be benefiting from the fuel importation business, cautioning that they will stop at nothing to frustrate the Dangote Petroleum Refinery. In an interview with the Financial Times, Obasanjo expressed his optimism about the refinery’s potential to attract foreign investment to Nigeria, saying that it should encourage both Nigerians and non-Nigerians to invest in the country.
However, Obasanjo also warned that those who stand to lose from the refinery’s operations may take drastic measures to hinder its progress. “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,” he stated.
This warning comes on the heels of recent allegations by Aliko Dangote, the President of the Dangote Group, that some government and non-government officials are making efforts to frustrate the refinery. Dangote has accused international oil companies of refusing to sell crude oil to the refinery or selling it at a premium price.
The Federal Executive Council has since intervened, directing the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Refinery and other local refineries in naira, rather than in US dollars. The Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) has also been accused of deliberately granting licenses to individuals to import dirty fuel, although the regulator has denied these allegations.
The Dangote Refinery, located in Lagos, has already commenced operations, producing 350,000 barrels of diesel and aviation fuel per day. The refinery aims to reach its full capacity of 650,000 barrels per day by the end of the year.
Rabiu Kwankwaso Blames Vested Interests for Fuss
Former Kano State Governor Rabiu Kwankwaso has also weighed in on the controversy, blaming vested interests for the “unnecessary fuss” surrounding the refinery. Kwankwaso, who is a presidential candidate of the New Nigeria People’s Party (NNPP), described the refinery as a crucial asset for Nigeria’s energy needs and economic stability.
The former governor stressed the importance of protecting the asset from any threats that could undermine its operations, saying that it is “time for us to rally around this national asset” and ensure that it does not fail. He urged the Nigerian government to demonstrate fairness and confidence in both domestic and foreign critical investments.
Dangote Refinery: A Game-Changer for Nigeria’s Energy Sector
The Dangote Refinery is a significant development for Nigeria’s energy sector, with the potential to reduce the country’s dependence on imported refined petroleum products. With its capacity to produce 650,000 barrels of refined products per day, the refinery is expected to have a significant impact on Nigeria’s economy and energy security.
As the refinery continues to face challenges and controversies, it is clear that its success is crucial for Nigeria’s energy future.
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