Why Fuel Importers Will Frustrate Dangote-Obasanjo

• Says Shell Declined to Invest in Refinery Due to Corruption  Concerns
• Frowns  at Nigeria’s over-Reliance On Oil.

Former Nigerian President Olusegun Obasanjo has weighed in on the challenges facing the Dangote Petroleum Refinery, stating that those profiting from fuel importation may attempt to hinder its progress. Obasanjo’s comments come after Dangote Group President Alhaji Aliko Dangote alleged that “mafias” were trying to frustrate the $20 billion refinery project.

In an interview with Financial Times on Monday,, Obasanjo praised the Dangote refinery as a positive investment opportunity for Nigeria. However, he noted that those benefiting from the lucrative fuel importation business might try to undermine the project.

Obasanjo also criticized Nigeria’s over-reliance on oil, neglecting gas and agriculture. He recalled his efforts to partner with Shell to run the country’s refineries, but the company declined due to corruption concerns.

Additionally, Obasanjo expressed concerns about the government’s approach to removing fuel subsidies, suggesting that more consideration should have been given to mitigating the impact on citizens. He emphasized the need for investor confidence and a shift from a transactional to a transformational economy.

Obasanjo also warned about the dangers of youth unemployment, stating that Nigeria risks sitting on a “keg of gunpowder” if the issue is not addressed.