Peter Obi, the Labour Party’s 2023 presidential candidate, and African Development Bank (AfDB) President Adewunmi Adesina have voiced concerns over the ongoing dispute between the Dangote Group and federal regulators regarding the Dangote Refinery.
Obi took to social media to advise caution, urging Nigerian National Petroleum Corporation (NNPC) and other government agencies to handle the situation carefully due to its significant economic implications. Obi highlighted the refinery’s potential to generate $21 billion annually and create over 100,000 jobs. He emphasized that the facility is crucial for addressing Nigeria’s fuel crisis and supporting economic growth. “The refinery is too vital to fail and must not be hindered,” Obi stressed, calling for full support of Dangote Industries.
Adesina, commenting on the issue, described the conflict as damaging to Nigeria’s global reputation. He criticized the disparagement of Dangote, arguing that it undermines the country’s largest investor and deters future investment. Adesina questioned whether Dangote’s refinery was anti-competitive and argued that high barriers to entry prevent other companies from establishing similar operations. He urged the government to support local industries like Dangote’s, which are essential for national economic independence.
In support of Dangote, billionaire businessman Femi Otedola highlighted the significant contributions of the Dangote Group to Nigeria’s economy. Otedola compared Dangote’s impact to historical figures in industrialization, noting that support for local champions is vital for national development. He called for continued backing of Dangote to ensure economic progress and independence.
In response to allegations from the Dangote Group, Mele Kyari, Group CEO of NNPC, denied owning any blending plant outside Nigeria, refuting claims made by Dangote.
