$18.5B DANGOTE PETROLEUM & PETROCHEMICALS REFINERY COMPLEX LAGOS..

 

Almost 180 days after commissioning no single litre of product yet to be refined ….How A Petroleum products importation CABAL and Vested interests are working round the clock to frustrate this revolutionary project.

 

MATTERS ARISING…

 



No doubt since the discovery of crude oil deposits in commercial quantities in Oloibiri present-day Bayelsa State, Nigeria has indeed had its fair share of challenging circumstances regarding the neglect of other critical sectors and focus on oil revenues which generates over 90% our foreign exchange..From recent reports over $380b has been stolen and misappropriated oil revenues in 65 years of oil exploration and exploitation by previous administrations..

The downstream sector of the oil sector has been plagued by massive importation of petroleum products with three oil refineries situated in Warri,Kaduna and Port-Harcourt still undergoing some forms of repairs,the decision by multi-billionaire business leader Aliko Dangote Africa’s richest man was a welcome development when he began the construction of $18.5B 650000 barrels per day world’s largest single-train petroluem refinery situated in Ibeju-Lekki area of Lagos State in year 2014 cumulatively 9 years today…During the last days of the defunct Muhammadu Buhari’s administration in May 2023 the commissioning of the refinery stole the headlines of a transformation in the Nigerian Economy with local refining of crude oil and domestic supply of petroleum products for domestic consumption with the attendant surge in economic activity creating several millions of job opportunity taking advantage of its proximity to Lekki Free trade zone,newly built Lekki Deep Seaport, however, the sad reality of the Nigerian state is the huge refinery that came with enormous promise is yet to refine a single litre of petroleum product nearly 180 days after commissioning, with stories that the state owned oil giant NNPC Ltd its major crude supplier has refused to supply crude to the Dangote refinery,the same NNPC LTD that wanted to buy a 20% stake in the project….The same NNPC LTD that secured a $3b crude finance deal with the African-Exim bank..The conspirator theories flying around is that once the Dangote refinery finally becomes operational, the cabal that continues to import fuel and collect subsidies from the country that has gulped 16 trillion naira in the last 10 years are hellbent on frustrating the Dangote refinery from taking off fully since their reign of slush funds from fuel importation begins to dry off…

Nigerians must shake off this docility and begin to ask pertinent questions why a refinery that gulped a whopping $18.5B is yet to begin refining and production when the owners of the project are not running a charity bazaar with huge investments running into billions of USD with profiting as the sole aim of a business venture.

As a concerned stakeholder in the Nigerian project, we are giving the NNPC LTD before the 31st of December 2023 to begin direct sales of crude oil to the Dangote refinery complex to enable them to begin local refining of petroleum products that can create huge job opportunities and foster economic growth…The need to begin a campaign of alerting the global community of grand-scale sabotage becomes inevitable.



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