Former President Olusegun Obasanjo has alleged that the Nigerian National Petroleum Corporation (NNPC) declined a $750 million offer from billionaire businessman Aliko Dangote to manage the Port Harcourt and Kaduna refineries in 2007.
In an exclusive interview with Channels Television, Obasanjo disclosed that Dangote had made the proposal during his administration, intending to take over and manage the refineries for efficiency.
However, the NNPC rejected the offer, despite its well-documented challenges in managing the facilities effectively.
Obasanjo expressed his disappointment, noting that the decision reflected systemic inefficiencies in the nation’s oil and gas sector.
He also emphasized the missed opportunity to improve refinery operations and reduce Nigeria’s reliance on imported petroleum products.
According to him: “Aliko got a team together and they paid $750m 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 now said but you know they cannot run it.”
Platinumpost reports that Obasanjo was elected President from May 1999 to May 2007 and former Military Head of State from February 1976 to October 1979.
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