Former President Olusegun Obasanjo revealed that the Nigerian National Petroleum Corporation (NNPC) turned down a $750 million offer from Aliko Dangote to manage Nigeria’s refineries.
This decision has raised questions about the future of the country’s oil sector and the efficiency of its refineries, which have faced operational challenges for years
Obasanjo expressed skepticism regarding the current state of Nigeria’s refineries, stating that they are incapable of functioning effectively under their present conditions. He highlighted that without significant improvements and investments, the refineries are unlikely to operate successfully.
The rejection of Dangote’s offer may have broader implications for Nigeria’s oil industry, which has struggled with inefficiencies and corruption. Analysts suggest that this situation could hinder efforts to revitalize the sector and meet domestic fuel demands
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