Peter Obi to FG: Provide Dangote with necessary support — refinery too crucial to fail

Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 election, has asked the federal government to provide necessary support for the operation of the Dangote refinery.

Aliko Dangote, Africa’s richest man, has been locked in a bitter row with Nigeria’s oil industry regulators over a plethora of issues regarding the project.

The fight had intensified when the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) claimed that refineries in the country — including the Dangote refinery — produce inferior petroleum products. The regulator also accused Dangote of monopoly.

Denying both allegations, the businessman said his company would halt plans to develop Nigeria’s steel industry and offered to sell the refinery to the Nigerian National Petroleum Company (NNPC) Limited.

Speaking on the dispute in a post on X on Tuesday, Obi said the refinery is crucial for economic stability in the country, stressing that it must not be allowed to fail.

He said Dangote has contributed immensely to Nigeria’s industrialisation, job creation, and economic growth.

“The recent conflicts between Dangote Industries and some government agencies are deeply troubling. This issue transcends political affiliations and personal grievances,” he said.

“It is fundamentally about Nigeria’s economy, future, and the well-being of its citizens. 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.

“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.

“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.

“The federal government and its agencies need to recognize the significance of Dangote’s contributions. Alhaji Dangote is not just a businessman; he is a national and African brand symbolizing patriotism, commitment, and impactful entrepreneurship.”

Obi said Dangote has established a remarkable industrial hub in Nigeria, despite operating in a challenging business environment.

The industrial hub, according to the politician, encompasses 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 said.

He added that the success of the refinery is directly connected to the advancement of Nigeria and the continent.