Former President Olusegun Obasanjo has asserted that influential groups within Nigeria’s oil and gas sector are deliberately obstructing the $20 billion Dangote Refinery due to their vested interests in the importation of refined petroleum.
Obasanjo made these comments in a recent interview with the Financial Times, amid ongoing challenges faced by the Dangote Refinery in securing a stable crude oil supply.
Last week, President Bola Ahmed Tinubu instructed the Nigerian National Petroleum Company Limited to sell crude oil to Dangote Refinery and other local refineries in Naira, in an effort to support domestic refining.
Obasanjo highlighted that a successful Dangote Refinery could attract further investments from both domestic and international sources.
However, he warned that those currently benefiting from selling refined products might be actively working to undermine the refinery to protect their lucrative positions.
“If Aliko Dangote’s refinery succeeds, it could inspire more investment in Nigeria. Those who profit from selling refined products might attempt to frustrate his efforts to preserve their profitable opportunities,” Obasanjo said.
Devakumar Edwin, Vice President of Dangote Industries, has previously accused international oil companies of obstructing the refinery by charging higher prices for crude oil.
Additionally, Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, has accused Dangote of monopolistic behavior, a claim Dangote has disputed.
