Former Nigerian President Olusegun Obasanjo has claimed that certain sinister forces are working against the success of the $20 billion Dangote Refinery because they benefit from the importation of refined petrol. Obasanjo shared his concerns in a recent interview with the Financial Times.
“Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria,” Obasanjo stated. He further explained that those profiting from the lucrative refined product supply for Nigeria might make efforts to frustrate the refinery’s success.
These comments come in the wake of allegations by Aliko Dangote, President of the Dangote Group, who accused some government and non-government officials of attempting to sabotage the refinery. Officials from the Dangote Group have reported that international oil companies are obstructing the refinery by refusing to sell crude or by selling it at a premium of up to $4 above the normal price.
In response, the Federal Executive Council directed the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Refinery and other local refineries in naira instead of US dollars.
READ ALSO: Dangote Offers to Sell Multibillion-Dollar Refinery to NNPC, Rejects Monopolist Allegations
The Dangote Group also accused the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) of granting licenses to import dirty fuel, a claim the regulator denied.
NMDPRA Chief Executive Farouk Ahmed countered that Dangote diesel was inferior to imported fuel and emphasized that the country would continue fuel importation to avoid creating a monopoly for the Dangote Group.
The Dangote Refinery, located in Lagos, began operations last December with an initial capacity of 350,000 barrels per day, aiming to reach 650,000 barrels per day by the end of the year.
The refinery has started supplying diesel and aviation fuel to local marketers, with petrol supply expected to commence in August despite regulatory hurdles.
