A former President of the Nigerian Bar Association (NBA), Dr Olisa Agbakoba (SAN) has opposed the Federal Government taking over the 650,000 barrel-per-day capacity of Dangote Refinery which was built with about $20 billion….READ FULL ARTICLE...READ THE FULL ARTICLE HERE ▶▶
Agbakoba who spoke on Monday said it would be unfair for FG to take over a refinery that was built by an individual.
He said the government should make the Port Harcourt, Warri and Kaduna refineries to be operational alongside the Dangote refinery to engender health competition.
Agbokoba who also is Senior Partner, Olisa Agbakoba Legal, stated that in a statement on Monday titled: ‘Why should the federal government take over refinery built by a private individual?
Agbakoba said: “Prof. Itse Sagay (SAN), on Monday, in an interview, says the constitution allows the federal government to take over the Dangote Refinery, pay him compensation and then sell the products at the prices Nigerians can afford.
“But why take over what a private individual built? Why can’t the FG fix its refineries all these years and make Dangote irrelevant? Why allow an efficient Businessman man hold you to ransom when there is a very simple alternative?
“The simple alternative for us all is this – let Nigeria work. Let there be light. Let there be food. Let there be water. Let there be jobs. Let there be money, schools, health care, roads etc.
“This is how to render Dangote irrelevant and not as Suggested by taking over another man’s sweat even if the sweat is to cheat us. Let the FG do its own refineries and bluff Dangote.”
Recall that the President and Chief Executive Officer (CEO) of Dangote Group, Aliko Dangote, had urged the Nigerian National Petroleum Company Limited (NNPC Ltd) to buy him off the 650,000 barrels per day capacity Dangote Refinery and Petrochemicals located at Free Zone, Lekki, Lagos which was built at a cost of about $20billion.
The richest African in an exclusive interview with Premium Times, lamented that he has been labelled a monopolists, adding it is incorrect that he is a monopolist.
He decried that Nigeria has been having a fuel crisis since the 1970s. He stated that he hoped that building and running his refinery would stop such a national disgrace as well as create jobs. He, however, said that it appears that some people are unhappy with his refinery.
Dangote said: “Let them (NNPC Ltd) buy me out and run the refinery the best way they can. They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s OK. If they buy me out, at least, their so-called monopolist would be out of the way.
“We have been facing a fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, and run the refinery. At least the country will have high-quality products and create jobs.
“As you probably know, I am 67 years old, in less than three years, I will be 70. I need very little to live the rest of my life. I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country.
“Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his actions in the interest of his country.
He blamed his action on policy inconsistencies and shenanigans of interest groups. That friend has been taunting me in the past few days, saying he warned me and that he has been proven right….READ FULL ARTICLE
