Wednesday, July 29, 2015

Nigeria Should Have Sold Its Refineries to Dangote - Obasanjo

Former Nigeria's president, Olusegun Obasanjo has said Nigeria's refineries would've been sold to business mogul Aliko Dangote long ago.Speaking on a Channels program, Obasanjo gave an insight into how his successor, the late President Umaru Musa Yar’Adua, said he was pressurized into reversing the sale of the nation’s oil refineries which he had concluded before leaving office in 2007.

“The refineries are old and Dangote and some investors paid $750m for two of the refineries. My successor came to office and reversed the sale; he even refunded the money they paid.

“So, I went to him and said ‘why did you do this’? He said it was because of pressure. So, I said ‘so the pressure of some people was more important than the interest of the whole nation’!

“Right now, you will hardly be able to sell the refineries for more than $250m because they are very old”.

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