Former President Olusegun Obasanjo has voiced his concerns regarding attempts by those who profit from importing fuel to obstruct the operations of the Dangote Petroleum Refinery.
The Dangote Refinery and Petrochemicals Ltd, a facility worth billions of dollars, was seen as a symbol of Nigeria’s quest for energy self-sufficiency.
However, a recent conflict involving the Nigerian Midstream and Downstream Petroleum Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited, and the Dangote refinery has sparked worries.
Earlier, Aliko Dangote, the head of the Dangote Group, expressed his frustration over what he described as a coordinated effort to undermine the refinery project due to the inability to secure local crude oil. Nonetheless, President Bola Tinubu has directed the NNPC to provide crude oil for sale to the Dangote Refinery in Nigerian Naira.
In an interview with thepaan, Obasanjo highlighted the importance of the refinery project, stating that if it succeeds, it could encourage both Nigerians and foreigners to invest in Nigeria.
He also pointed out that the country made a grave error by focusing solely on oil and neglecting other sectors like gas and agriculture, which should have been the foundation of its economic growth.
During his presidency, Obasanjo had invited Shell to invest in and manage the refineries, but they declined, citing the poor condition of the refineries and the lack of professional expertise. Additionally, there were issues with corruption in the maintenance of the refineries, which Shell was not interested in dealing with.
He also criticized President Bola Tinubu’s decision to eliminate fuel subsidies, suggesting that the government should have first considered the potential difficulties and found ways to mitigate them.
“There’s a lot of work that needs to be done. Not just by flipping a switch and removing the subsidy. Because of inflation, the subsidy that was removed has only returned,” he noted.
