Olisa Agbakoba, senior partner at Olisa Agbakoba Legal, has countered suggestions by Itse Sagay, former chairman of the Presidential Advisory Committee Against Corruption (PACAC), that the federal government could take over the Dangote Refinery.
Sagay, in an interview on Monday, argued that the government could compensate Aliko Dangote and sell the refinery’s products at affordable prices for Nigerians.
He said, “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”.
Agbakoba questioned the rationale behind the takeover, asking, “Why take over what a private individual built? Why can’t the FG fix its refineries and make Dangote irrelevant?”
Read also: Peter Obi to FG: Support Dangote Refineries, don’t villify it
He emphasised that improving Nigeria’s infrastructure and services is the key to solving the issue, advocating for the government to build and manage its refineries to foster competition.
The Dangote refinery has recently faced disputes with regulatory bodies over crude supply issues.
The federal government accused Dangote of seeking to suspend diesel and aviation fuel imports, potentially giving his refinery exclusive control over these products. Aliko Dangote, president of the Dangote Group, dismissed the monopoly allegations, stating other businesses had received similar support.
“If the NNPCL buys me out, they can run the refinery without the monopoly label. We have faced fuel crises since the 70s. This refinery can help resolve the problem, but some are uncomfortable with my involvement,” Dangote said to newsmen in an interview on Sunday.
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