Former President Olusegun Obasanjo has revealed that powerful cabals in Nigeria’s oil and gas sector are deliberately frustrating the $20 billion Dangote Refinery project because it threatens their lucrative petrol import business.
In a recent interview, Obasanjo stated that these cabals will continue to hinder the refinery’s progress because they stand to lose their grip on the market.
Obasanjo noted that the success of the Dangote Refinery would encourage investment in Nigeria, but those currently benefiting from refined petrol importation will try to frustrate Aliko Dangote’s efforts. He emphasized that the refinery’s progress is being hindered by those who feel threatened by its potential success.
This comes as Dangote Refinery faces challenges in crude oil supply, with President Bola Ahmed Tinubu recently directing the Nigerian National Petroleum Company Limited to sell crude to local refineries, including Dangote, in Naira. However, international oil companies have been accused of selling crude at higher prices to frustrate the refinery’s operations.
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