By Kingston Magare
The Dangote Refinery, which Nigerians hope on to ameliorate the incessant scarcity of petroleum products came under degradation by a branch of the Nigeria National Petroleum Company last week.
But according to the African Development Bank (AfDB) Akinwumi Adesina, and former Anambra State governor and Labour Party presidential candidate in the 2023 elections Peter Obi, this is like shooting oneself in the foot.
Nigerian Midstream and Downstream Petroleum Authority CEO, Farouk Ahmed had claimed that products from the Dangote Refinery were inferior, and the complex is not yet licensed to operate. A clam Aliko Dangote the president of the Dangote Refinery had debunked. He alleged that his company’s effort at meeting the demands of Nigerians for petroleum products were deliberately being stifled by the NNPC and its agents.
Weighing in on the matter Mr. Adeshina told Vanguard: “It is self-defeating. And it is very bad for Nigeria.
“Who will want to come and invest in a country that disparages and undermines its own largest investor?
“Competition is good for everyone. But is Dangote refinery anti-competitive? What is the evidence?
“How many individuals or companies can do railways? How many can do refineries at the scale of Dangote Refineries?
“We cannot and must not undermine, disparage, or kill local industries, talk less of one that is of this scale—a jewel of industrialization in Nigeria.”
Writing on his X page Tuesday Mr. Obi added that the Dangote Refinery is key to Nigeria’s economic future.
“The recent conflicts between Dangote Industries and some government agencies are deeply troubling,” Obi stated.
“The refinery has the potential to generate approximately $21 billion in annual revenue and create over 100,000 jobs, with numerous additional positive impacts on the economy.
“The refinery is too vital to fail and must not be hindered, considering its crucial role in our national welfare.”
“The success of Dangote is intrinsically linked to the success of Nigeria and Africa,” Obi said.
