Peter Obi Urges Nigerian Government To Support, Not Vilify Dangote Refinery As It Faces Regulatory Challenges

Peter Obi, the Labour Party’s presidential candidate in the 2023 election, has urged the federal government to provide necessary support for the operation of the Dangote refinery and not to vilify the company as it faces regulatory challenges.

Aliko Dangote, owner of the refinery, has been at odds with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), as the regulatory body criticised the refinery for allegedly producing substandard petroleum products and accused Dangote of monopolistic practices.

In response to these allegations, Dangote has refuted the claims and threatened to abandon plans to expand into Nigeria’s steel industry. He has even proposed selling the refinery to the Nigerian National Petroleum Company (NNPC) Limited.

On Tuesday, Obi took to X (formerly Twitter) to address the situation, emphasising the refinery’s importance for Nigeria’s economic stability.

“The recent conflicts between Dangote Industries and some government agencies are deeply troubling. This issue transcends political affiliations and personal grievances. It is fundamentally about Nigeria’s economy, future, and the well-being of its citizens.”

Obi lauded Dangote for his significant contributions to Nigeria’s industrialsation and economic growth, urging the government to resolve the dispute promptly.

“Given Alhaji Dangote’s significant contributions to Nigeria, it is crucial that these disputes are resolved swiftly. Government agencies should be directed to offer the necessary support for the seamless launch and operation of the Dangote Refinery and its associated enterprises.” Obi said

The refinery, according to Obi, has the potential to generate approximately $21 billion in annual revenue and create over 100,000 jobs. Its strategic importance in addressing Nigeria’s fuel crisis, boosting foreign exchange earnings, and fostering economic growth cannot be overstated.

“The refinery is too vital to fail and must not be hindered, considering its crucial role in our national welfare.”

Obi highlighted Dangote’s broader impact, noting that the industrial hub established by Dangote spans over 15 sectors, including cement, sugar, salt, fertilizer, infrastructure, tomatoes, automotive, energy, petrochemicals, rice, poly sacks, real estate, mining, logistics, and maritime.

“With economic indicators like unemployment, inflation, forex scarcity, and debt worsening, every sensible and patriotic government should regard enterprises like Dangote Industries as national treasures, meriting robust support and protection,” he added.

Obi asserted that the success of the Dangote refinery is essentially linked to Nigeria’s progress and the broader advancement of the African continent.

Chioma Kalu

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