Former President Olusegun Obasanjo has raised concerns about potential sabotage against the Dangote Petroleum Refinery, emphasizing that those benefiting from Nigeria’s fuel importation may attempt to thwart the $20 billion project.
In a recent interview with Financial Times, Obasanjo highlighted the refinery as a critical investment that could inspire both local and foreign investments if successful.
He warned that entities threatened by the refinery’s success might work to undermine it.
This comes in response to allegations by Dangote Group President Aliko Dangote, who claimed that government and non-government officials are actively trying to disrupt the refinery’s operations.
“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.
Reports suggest that international oil companies are either refusing to sell crude oil to the refinery or charging up to $4 above the normal price.
In reaction, the Federal Executive Council has instructed the Nigerian National Petroleum Company (NNPC) Limited to sell crude oil to Dangote Refinery and other local refineries in naira rather than U.S. dollars.
Additionally, the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) has faced accusations of granting licenses for importing substandard fuel, although the NMDPRA has denied these claims, suggesting that Dangote’s diesel is of lower quality compared to imports.
Despite these challenges, Dangote Refinery has begun supplying diesel and aviation fuel and plans to start petrol distribution in August, with a full capacity target of 650,000 barrels per day by year-end.
