AGS NEWS – Former President Olusegun Obasanjo has warned that those benefiting from the profitable fuel importation business may try to hinder the operations of the Dangote Petroleum Refinery.

This statement follows allegations from Aliko Dangote, President of the Dangote Group, about efforts to undermine the $20 billion refinery by certain ‘mafias.’

On Monday, it was reported that the Dangote refinery and other domestic refineries had not yet begun purchasing crude oil in naira, as directed by President Bola Tinubu.

In an interview with the Financial Times, Obasanjo described the refinery as a significant investment that should encourage further investments in Nigeria.

He noted that those currently profiting from selling refined products in Nigeria might resist changes that threaten their lucrative opportunities.

Officials from the Dangote Group have recently accused international oil companies of obstructing the refinery’s operations by refusing to sell crude oil or demanding a premium.

ALSO READ: Dangote refinery receives inaugural crude supply

They also claimed that the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) has been issuing licenses for importing substandard fuel, which the NMDPRA has denied.

Obasanjo also criticized Nigeria’s overreliance on oil, neglecting gas and agriculture, and recounted his unsuccessful efforts to involve Shell in managing Nigeria’s refineries due to corruption concerns.

He also disapproved of President Tinubu’s approach to removing fuel subsidies, emphasizing the need to consider the hardships it might cause.

Additionally, Obasanjo expressed concerns about the growing unrest among unemployed youth, describing Nigeria as a “keg of gunpowder” and stressing the need for skill development and employment opportunities.

The Crude Oil Refiners Association of Nigeria has reported that local refineries, including the Dangote refinery, have not received a response from the NNPC regarding their requests to buy crude oil in naira.

The association believes that purchasing crude oil locally in naira could reduce petrol costs and strengthen the naira. They have called for an executive order to enforce this directive and ensure compliance from crude producers.