NNPC turned down $750m from Dangote to manage Nigeria’s refineries – Obasanjo

Nigeria’s former President Olusegun Obasanjo has revealed how the Nigerian National Petroleum Corporation (NNPC) turned down $750 million from billionaire businessman Aliko Dangote. Speaking in an exclusive interview with Channels TV, Obasanjo disclosed that the staggering amount was offered to NNPC to manage the Port Harcourt and Kaduna refineries in 2007. According to him, NNPC (now NNPCL) lacked the capacity to run the refineries so it rejected Dangote’s offer.

“Aliko got a team together and they paid $750m to take part in PPP (Public–Private Partnership) in running the refineries. “My successor refunded their money and I went to my successor and told him what transpired. He said NNPC said they wanted the refineries and they could run it.



I now said but you know they cannot run it,” Obasanjo stated. Obasanjo previously attributed Nigeria’s current state to the actions of its leaders, adding that the economy will improve with quality leadership. While acknowledging that citizens are going through tough times, he advised them not to lose hope in the new year.

“We are going through hardship, but we should never lose hope. Where we are now is not where God wants us to be. I believe that sooner or later, we will get there.

“We are where we are because of the inadvertent actions of our leaders and followers, to some extent.”.