The Olowu of Kuta, Oba Adekunle Makama Oyelude, has released a statement on Monday expressing his concerns over the recent developments surrounding the Dangote Refinery.
The refinery, which is a $19 billion investment by Alhaji Aliko Dangote, aims to reduce Nigeria’s reliance on imported petroleum products by producing 650,000 barrels per day. However, delays and regulatory issues have threatened its progress.
The Olowu, highlighted the refinery’s potential to create jobs and save foreign exchange, but also noted alarming reports about the quality of the refinery’s diesel.
“I was practically down when I read a report alleging that the head of the Nigerian Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr. Farouk Ahmed, made a complaint over the quality of products from the refinery,” the Olowu stated. Ahmed reportedly claimed that the diesel contained harmful levels of sulfur.
The Olowu called on President Bola Ahmed Tinubu to support the refinery, stressing that Nigeria cannot afford to discourage investors with unfriendly policies. He also urged Dangote to engage in further dialogue with the government to resolve the impasse.
Reflecting on the broader economic impact, the Olowu said, “It makes no economic sense for an investor of that magnitude to be operating below his investment capacity level as the refinery is unfortunately experiencing.” He expressed hope that the refinery would meet its new target date to start supplying the Nigerian market in August, amid current fuel challenges in major cities.
To ensure the refinery’s products meet standards, the Olowu suggested an independent investigation to verify recent findings that contradicted the high sulfur content allegation. He stressed the importance of protecting the refinery as a critical national asset.
“Mr. President, as father of the nation and an undisputed patriot that we all know, please save this refinery now as many onlookers are already insinuating the current imbroglio to wrong political calculation on the part of Aliko,” he pleaded.
