Why oil gangs are frustrating Dangote’s refinery —Obasanjo

Former president Olusegun Obasanjo said secretive groups in Nigeria’s oil and gas sector would continue to derail the $20 billion Dangote refinery because those who “sell refined products to Nigeria” feel they will miss out on a lucrative opportunity.

This was revealed in a recent documentary by Financial times titled “Nigeria’s struggle to break the ‘oil curse’.

He made the comments amid an ongoing crisis between the Dangote Refinery and regulatory authorities in the country.

Obasanjo said if the refinery is running well, both Nigerians and non-Nigerians will be encouraged to invest in the country.

He noted that those “selling processed products to Nigerians” felt they were missing out on a lucrative opportunity.

READ ALSO: Northern elders warn against extortion attempts against Dangote refinery

“Aliko’s investment in the oil refinery, if it goes well, will encourage Nigerians and non-Nigerians to invest in Nigeria.

“If those who sell or supply processed products to Nigeria feel that they are going to miss out on a profitable opportunity, they will also do everything they can to frustrate it,” Obasanjo said.

The former president then touched on the reasons why four oil refineries in Nigeria remain inoperative despite huge investments and efforts to improve them.

He recalled how he tried to persuade Shell to manage the country’s oil refineries but the International Oil Company turned him down, saying there was too much corruption in the sector.

“When I was president, I invited Shell to come and take equity and manage our refineries. They refused and said our refineries were not well maintained. We brought in amateurs, not professionals. Then, there was too much corruption in the way our refineries were maintained. They didn’t want to get involved in that mess,” he said.

By: Babajide Okeowo

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