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.
“Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians 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,” Obasanjo stated.
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.
They also accused the Nigerian Midstream and Downstream Regulatory Authority of purposefully issuing licenses to individuals to import filthy fuel.
The regulator dismissed this, claiming Dangote diesel was inferior to imported fuel.
Farouk Ahmed, Chief Executive of the NMDPRA, also indicated that the country would not stop importing fuel in order to avoid the Dangote Group’s monopoly.
Dangote began operations at his gargantuan factory in Lagos in December, producing 350,000 barrels per day. The refinery aims to reach its maximum capacity of 650,000 barrels per day by the end of the year.
The refinery has begun supplying diesel and aviation fuel to the country’s marketers, while petrol supply is set to begin in August despite regulatory pushback.
