Former President Olusegun Obasanjo has revealed how the Nigerian National Petroleum Corporation (NNPC) turned down a $750 million offer from Aliko Dangote to manage the Port Harcourt, Warri and Kaduna refineries in 2007, during his administration.
Speaking during an exclusive interview with newsmen on Thursday, Obasanjo revealed that although the NNPC was aware of its inability to effectively manage the national refineries, it still rejected Dangote’s proposal.
Obasanjo said that Dangote made his offer after Shell turned down his (Obasanjo) offer to manage the three refineries because of corruption, poor maintenance, low production output and two other reasons.
The former President said, “It was after that, Aliko got a team together and they paid $750 million to take part in PPP (Public–Private Partnership) in running the refineries.
“My successor refunded their money and I went to my successor and told him what transpired. He said NNPC said they wanted the refineries and they can run it. I said but you know they cannot run it.”
He decried the fact learnt not too long ago that since 2007 when the NNPC rejected Dangote’s offer, more than $2 billion had been squandered on the refineries.
Obasanjo said, “But I was told not too long ago that since that time, more than $2 billion have been squandered on the refineries, and they still will not work.”
The former president stressed that if a company like Shell rejected his offer to manage the refineries based on their reasons, “I will believe them.”
He questioned why NNPCL is now working with Dangote, saying, “Not only make it (his refinery) work, he (Dangote) will make it deliver. And whether we announce our own government refineries working or not working, it is like a man who plants 100 heaps of yam and says he planted 200 heaps, after he harvests 100 heaps of yam, he will also harvest 100 heaps of lies.”
Sahara Reporters
