In a recent interview with the Financial Times, former Nigerian president Olusegun Obasanjo raised concerns about the $20 billion Dangote Refinery, citing the interference of influential groups in the country’s oil and gas sector.
Obasanjo highlighted the challenges faced by the refinery, particularly in securing a steady supply of crude oil amidst ongoing crises.
Last week, President Bola Ahmed Tinubu directed the Nigerian National Petroleum Company Limited to supply crude to Dangote Refinery and other local refineries in Naira, aiming to support their operations.
Obasanjo emphasized that the success of Dangote Refinery could attract investments from both Nigerians and foreigners, but certain entities in the market fear losing their profitable positions if the refinery thrives.
Devakumar Edwin, Vice President of Dangote Industries, also pointed out the obstacles posed by international oil companies selling crude at inflated prices to impede the refinery’s progress.
Contrary to allegations of monopolistic behavior by Farouk Ahmed, CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Dangote refuted the claims and continues to navigate through challenges.