Senior Advocate of Nigeria Olisa Agbakoba has cautioned against the Nigerian National Petroleum Company Limited (NNPCL) taking over the Dangote Refinery.
Agbakoba’s statement comes in response to Aliko Dangote’s offer to sell the refinery amid ongoing debates about its monopolistic implications and concerns over the quality of fuel produced by local refineries.
Dangote’s comment followed Nigerian Midstream and Downstream Petroleum Regulatory Authority Chief Executive Farouk Ahmed’s criticism of local refineries for producing inferior fuels and Dangote’s request to prioritize his refinery over imports.
In reaction, Agbakoba questioned why the government would take over a private enterprise rather than fixing its own refineries, which have been non-operational for years.
Agbakoba argues that instead of focusing on a private individual’s assets, the Federal Government should address broader infrastructure issues, including electricity, water, healthcare, education, and transportation. He believes that improving these sectors would reduce reliance on private entities and eliminate concerns of monopolistic control.
Agbakoba supports the development of local refineries but insists that the focus should be on revitalizing government-owned refineries to enhance national refining capacity and end fuel importation.