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 instead of vilifying the company amidst regulatory challenges.
Aliko Dangote, owner of the refinery, has faced criticism from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), which accused the refinery of producing substandard petroleum products and monopolistic practices. Dangote has refuted these claims and threatened to abandon expansion plans into Nigeria’s steel industry, even proposing to sell the refinery to the Nigerian National Petroleum Company (NNPC) Limited.
On Tuesday, Obi took to X (formerly Twitter) to address the situation, emphasizing the refinery’s importance for Nigeria’s economic stability. He stated:
“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 industrialization and economic growth, urging the government to resolve the dispute promptly. He said:
“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 highlighted that the refinery 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. He stressed:
“The refinery is too vital to fail and must not be hindered, considering its crucial role in our national welfare.”
Obi also noted Dangote’s broader impact, with the industrial hub established by Dangote spanning over 15 sectors, including cement, sugar, salt, fertilizer, infrastructure, tomatoes, automotive, energy, petrochemicals, rice, poly sacks, real estate, mining, logistics, and maritime. He added:
“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.”
Obi concluded by asserting that the success of the Dangote refinery is essentially linked to Nigeria’s progress and the broader advancement of the African continent.