Cabals frustrating take-off of Dangote Refinery – Obasanjo

Chief Olusegun Obasanjo, a former Nigerian President, has alleged that cabals in the industry are frustrating the take-off of the Dangote Refinery.

Obasanjo made the allegation in an interview with Financial Times, saying that those benefiting from the lucrative business of fuel importation would make efforts to frustrate the $20 billion refinery.

The former President described the Dangote refinery as something that should be encouraged by 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 said.

There have been many efforts to frustrate the effective take-off of the refinery since it started production.

Some of these efforts include its frustration to get crude oil as feed stock locally through the NNPCL, denial by International Oil Companies (IOCs) to sell crude oil to Dangote Refinery at the appropriates international prices and labelling of the refinery as a monopoly.

Devakumar Edwin, the Vice President of Dangote Industries, raised the alarm early that IOCs were frustrating the oil companyby selling crude at higher prices.

The Nigerian National Petroleum Corporation Limited (NNPC) had also accused the company of producing substandard diesel oil.The Nigerian National Petroleum Corporation Limited (NNPC) had also accused the company of producing substandard diesel oil.

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