Former President Olusegun Obasanjo has expressed serious concerns about the potential challenges facing the Dangote Refinery, particularly from fuel importers who may seek to undermine its operations.
In a recent statement, he emphasized that these importers have a vested interest in maintaining the status quo, as their profits are tied to the ongoing importation of fuel.
Obasanjo pointed out that the current dynamics could lead to significant obstacles for the refinery, which is poised to transform Nigeria’s oil landscape by reducing the country’s dependence on imported fuel.
He also criticized international oil companies, accusing them of either refusing to sell crude oil to the Dangote Refinery or imposing exorbitant premiums that threaten its financial viability.
Furthermore, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has indicated that it will continue fuel imports to prevent the Dangote Group from monopolizing the market.
This situation raises concerns about the future of the refinery and its potential to boost Nigeria’s economy by providing local jobs and reducing fuel costs for consumers.
Obasanjo’s comments highlight the need for a balanced approach to ensure the refinery can thrive amidst these challenges.