Business News of Tuesday, 6 August 2024

Source: www.mynigeria.com

'Cabals in Nigeria frustrating Dangote refinery' - Obasanjo discloses

Ex-president, Olusegun Obasanjo has stated that cabals in Nigeria’s oil and gas sector will not stop frustrating the $20 billion Dangote Refinery because it is benefiting from refined petrol import.

He made this known in a recent interview with the Financial Times, while reacting to the continued crisis Dangote Refinery is fighting in the crude oil supply.

Recall that President Bola Ahmed Tinubu last week had directed the Nigerian National Petroleum Company Limited (NNPCL) to sell crude to Dangote Refinery and other local refineries in Naira.

Speaking on the challenges of the Chairman of Dangote Group, Aliko Dangote, Obasanjo stated that if the Refinery goes well, both Nigerians and non-Nigerians will be encouraged to invest in the country.

According to Obasanjo, those “selling refined products for Nigeria” feel that they will lose the lucrative opportunities should Dangote refinery be encouraged to work in its full capacity.

He said: “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."