Former President Olusegun Obasanjo has said that those benefiting from fuel importation will do all in their power to frustrate the Dangote Petroleum Refinery.
In an interview with Financial Times, the former President described the Dangote refinery as a project that should encourage 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 shared his opinion on the heels of recent allegations by the President of the Dangote Group, Aliko Dangote, that some government and non-government officials were making efforts to frustrate the $20bn refinery.
Officials of the Dangote Group recently cried out that international oil companies were frustrating the refinery by refusing to sell crude or by selling to them at a premium up to $4 above the normal price.
This prompted the Federal Executive Council’s directive to the Nigerian National Petroleum Company (NNPC) Limited, to sell crude oil to Dangote Refinery and other local refineries in naira and not in United States greenback.
They also accused the Nigerian Midstream and Downstream Regulatory Authority of deliberately granting licences to individuals to import dirty fuel.
The regulator denied this, saying Dangote diesel was inferior when compared to the imported ones.
The NMDPRA Chief Executive, Farouk Ahmed, also stated that the country would not stop fuel importation to avoid a monopoly by the Dangote Group.
Dangote commenced operations at his behemoth facility located in Lagos last December with 350,000 barrels a day. The refinery hopes to achieve its full capacity of 650,000 barrels per day by the end of the year.
The refinery has begun the supply of diesel and aviation fuel to marketers in the country while petrol supply is expected to commence in August amid regulatory resistance.
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