Why fuel importers will frustrate Dangote – Obasanjo

Former President Olusegun Obasanjo has   stated  that   the ones  taking advantage of  the   beneficial  enterprise  of   gasoline  importation are going to make efforts to frustrate the Dangote Petroleum Refinery.
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Obasanjo   said  this   withinside the  wake of allegations   through  the President of the Dangote Group, Alhaji Aliko Dangote, that some 'mafias'   have been  making efforts to frustrate the $20bn refinery.

This   got here  because it  become  amassed  on Monday that the multi-billion   greenback  refinery and   different  home  refineries had   but  to   buy  crude oil in naira   primarily based totally  at the  directive of President Bola Tinubu to the Nigerian National Petroleum Company Limited.

In an interview with Financial Times,   the previous  President   defined  the Dangote refinery as   some thing  that   ought to  inspire  each  Nigerians and non-Nigerians.


"Aliko's   funding  in a refinery, if it   is going  properly ,   ought to  inspire  each  Nigerians and non-Nigerians to   spend money on  Nigeria.

"If   people who  are   promoting  or   providing  subtle  merchandise  for Nigeria   sense  that   they may  lose the   beneficial  opportunity,   they may  additionally  make   each  attempt  to get him frustrated," Obasanjo   said .

Officials of the Dangote Group   currently  cried out that   global  oil   corporations  have been  irritating  the refinery   through  refusing to   promote  crude or   through  promoting  to them at a   top rate  up to $  four  above the   regular  price.


They   additionally  accused the Nigerian Midstream and Downstream Regulatory Authority of   intentionally  granting licences to   people  to import   grimy  gasoline .

The regulator denied this,   pronouncing  Dangote diesel   become  inferior   whilst  as compared  to the imported ones.

The NMDPRA Chief Executive, Farouk Ahmed,   additionally  said  that the   usa  could  now no longer  forestall  gasoline  importation to   keep away from  a monopoly   through  the Dangote Group.

Obasanjo,   speakme  further, disclosed that Nigeria made a   lethal  mistake   through  placing  all its eggs in what he   known as  one basket of oil, ignoring   fueloline  and agriculture.

"I   agree with  we made   a totally , very   lethal  mistake. We   placed  all our eggs   in a single  basket of oil. We even   disregarded  fueloline . We   have been  flaring   fueloline ,   that's  a totally  crucial  commodity

"We   disregarded  agriculture, which   ought to  were  the centrepiece of our   financial  development," Obasanjo   said .

He recalled how he persuaded Shell to run the   usa 's refineries   however the  International Oil Company refused,   pronouncing  there has been  an excessive amount of  corruption   withinside the  sector.


"When I   become  President, I invited Shell and I   stated , look, come and take   fairness  participation and run our refineries for us. They refused. They   stated  our refineries have   now no longer  been   properly  maintained.

"We have   introduced  amateurs   instead of  bringing professionals. They   stated  there's   an excessive amount of  corruption with the   manner  our refinery   is administered  and maintained. And they didn't   need  to get   worried  in   this kind of  mess," he explained.

On the   guarantees  that the refineries   could be  constant , he asked, "How   regularly  have they   informed  us that? And at what price?

"Those problems, as   a long way  because the  authorities  refineries are concerned, have   in no way  long past  away. They have even increased. So   when you have  a   trouble  like that and that   trouble  isn't always  eliminated  you then definately  aren't going anywhere."

The former President   additionally  condemned the   fashion  followed  through  President Bola Tinubu to   take away  gasoline  subsidies,   declaring  that   the prevailing  management  ought to  have first   taken into consideration  the   difficulty  the subsidy   elimination  ought to  motive  humans  and   a way to  ameliorate the same.

"There's   numerous  paintings  that   wishes  to be done. Not   simply  awaken  one morning and say you   eliminated  the subsidy. Because of inflation, the subsidy that   we've got  eliminated  isn't always  long past . It has come back,"   the previous  President stressed.

He   stated  there   ought to  be investor   self belief  in Nigeria, adding, "You   need to  move  from transactional   financial system  to transformational   financial system ."




"Our   young people  are restive. And   they're  restive   due to the fact  they   haven't any  skill. They   haven't any  empowerment. They   haven't any  employment. We are all sitting on a keg of gunpowder. And my prayer is that   we can  do the   proper  element  earlier than  it's too late," he warned.

Crude in naira

It   become  additionally  amassed  on Monday that the Dangote refinery and   different  nearby  refineries in Nigeria had   but  to begin  shopping for  crude oil from NNPC in naira as directed   through  President Tinubu.

The Crude Oil Refiners Association of Nigeria   stated  letters   were  written to NNPC   through  man or woman  refiners   asking for  crude,   however  there was  no   reaction  but .

The Federal Executive Council   currently  followed  an offer  through  Tinubu to   promote  crude to the Dangote refinery and   different  upcoming refineries in naira.

FEC   authorized  that the 450,000 barrels   supposed  for   home  intake  be   presented  in naira to Nigerian refineries,   the usage of  the Dangote refinery as a pilot. The   change  fee  could be  constant  at some point of  this transaction.


However,   nearly  one week after the announcement, the refiners   stated  that they'd  now no longer  heard from the NNPC.

The Publicity Secretary of the Crude Oil Refiners Association of Nigeria, Eche Idoko,   stated  the Nigerian Midstream and Downstream Petroleum Authority is   predicted  to kickstart the   technique .

"We have   now no longer  began out  shopping for  crude from NNPC. Individual   participants  have written to them (NNPC) already,   and that they  have   numerous  requests from   those  refineries   earlier than  them.

"Typically,   we might  count on  our regulator,   on this  instance, the NMDPRA, to kick   begin  the   technique  through  calling for a   assembly  of all   events  to talk about  the framework for such   deliver  or have NNPC   reply  to the   numerous  letters to it   through  the refineries   asking for  for crude," Idoko   referred to .

The CORAN spokesperson had   in advance  said  that the   deliver  of crude oil to   nearby  refineries in naira   could  carry  down the   value  of petrol and   support  the naira   towards  the   greenback .

Idoko   recounseled  Tinubu for   paying attention to  the voice of indigenous refiners   however  referred to  that an   govt  order   ought to  be issued on   the brand new  directive.

The crude oil refiners   additionally  sought a   assembly  with the   financial  group  to   workout  a   fee  that might  favour the Nigerian market.

Dangote refinery and   different  home  refiners   were  complaining   approximately  the   problems  related to  having access to  crude oil   for his or her  plants. Recently, the   control  of Dangote Group insisted that the IOCs   had been  nevertheless  irritating  crude   deliver  to the 650,000-  potential  refinery.

In a statement, the   organization  alleged that the IOCs insisted on   promoting  crude oil to its refinery   via  their   overseas  agents,   announcing  the   nearby  rate  of crude will   preserve  to   growth  due to the fact  the   buying and selling  hands  provide  cargoes at $2 to $  four  in keeping with  barrel, above NUPRC   professional  rate .



The   organization  additionally  alleged that the   overseas  oil   manufacturers  appear  to be prioritising Asian   nations  in   promoting  the crude they produce in Nigeria.

A senior   professional  on the  Dangote refinery, who pleaded   now no longer  to be named   because of  loss of  authorisation   to talk  on   the problem ,   showed  that the plant had   but  to begin  shopping for  crude in naira from NNPC.

The spokesperson of NNPC, Olufemi Soneye, did   now no longer  reply  to enquiries on   the problem  while  contacted   via way of means of  our correspondent.




Dangote refinery and   different  home  refiners   were  complaining   approximately  the   problems  related to  having access to  crude oil   for his or her  plants. Recently, the   control  of Dangote Group insisted that the IOCs   had been  nevertheless  irritating  crude   deliver  to the 650,000-  potential  refinery.

In a statement, the   organization  alleged that the IOCs insisted on   promoting  crude oil to its refinery   via  their   overseas  agents,   announcing  the   nearby  rate  of crude will   preserve  to   growth  due to the fact  the   buying and selling  hands  provide  cargoes at $2 to $  four  in keeping with  barrel, above NUPRC   professional  rate .



The   organization  additionally  alleged that the   overseas  oil   manufacturers  appear  to be prioritising Asian   nations  in   promoting  the crude they produce in Nigeria.

A senior   professional  on the  Dangote refinery, who pleaded   now no longer  to be named   because of  loss of  authorisation   to talk  on   the problem ,   showed  that the plant had   but  to begin  shopping for  crude in naira from NNPC.

The spokesperson of NNPC, Olufemi Soneye, did   now no longer  reply  to enquiries on   the problem  while  contacted   via way of means of  our correspondent.


Dangote refinery and   different  home  refiners   were  complaining   approximately  the   problems  related to  having access to  crude oil   for his or her  plants. Recently, the   control  of Dangote Group insisted that the IOCs   had been  nevertheless  irritating  crude   deliver  to the 650,000-  potential  refinery.

In a statement, the   organization  alleged that the IOCs insisted on   promoting  crude oil to its refinery   via  their   overseas  agents,   announcing  the   nearby  rate  of crude will   preserve  to   growth  due to the fact  the   buying and selling  hands  provide  cargoes at $2 to $  four  in keeping with  barrel, above NUPRC   professional  rate .



The   organization  additionally  alleged that the   overseas  oil   manufacturers  appear  to be prioritising Asian   nations  in   promoting  the crude they produce in Nigeria.

A senior   professional  on the  Dangote refinery, who pleaded   now no longer  to be named   because of  loss of  authorisation   to talk  on   the problem ,   showed  that the plant had   but  to begin  shopping for  crude in naira from NNPC.

The spokesperson of NNPC, Olufemi Soneye, did   now no longer  reply  to enquiries on   the problem  while  contacted   via way of means of  our correspondent.
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