Sundiata Post – Nigeria’s former President Olusegun Obasanjo has stated how cabals in the nation’s oil and gas sector could frustrate the $20 billion Dangote Refinery being the sole beneficiary of refined petrol import.
Speaking against the backdrop of Dangote Refinery’s crisis with crude oil supply, Obasanjo in a chat with Financial Times said if all goes as planned, both Nigerians and foreigners will be encouraged to invest in the country.
He also pointed out that those involved in the sales of “refined products” for Nigeria feel the lucrative opportunities they enjoy will be lost.
“Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria.
“If those who are selling or supplying refined products for Nigeria feel that they will lose the lucrative opportunity, they will also make every effort to get him frustrated,” Obasanjo stated.
According to the former President, Nigeria made a costly mistake by choosing to focus on oil, ignoring gas and agriculture.
“I believe we made a very, very deadly mistake. We put all our eggs in one basket of oil. We even ignored gas. We were flaring gas, which is a very important commodity
“We ignored agriculture, which should have been the centrepiece of our economic development,” he added.