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Obasanjo Condemns Fuel Subsidy Removal, States Why Importers Will Frustrate Dangote

Published

1 year ago

August 6, 2024

Former President Olusegun Obasanjo has said that those benefiting from the lucrative business of fuel importation are going to make efforts to frustrate the Dangote Petroleum Refinery.

Obasanjo stated this in the wake of allegations by the President of the Dangote Group, Alhaji Aliko Dangote, that some ‘mafias’ were making efforts to frustrate the $20bn refinery.

This came as it was gathered on Monday that the multi-billion dollar refinery and other domestic refineries had yet to purchase crude oil in naira based on the directive of President Bola Tinubu to the Nigerian National Petroleum Company Limited.

In an interview with Financial Times, the former President described the Dangote refinery as something that should encourage both Nigerians and non-Nigerians.

“Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria.

“If those who are selling or supplying refined products for Nigeria feel that they will lose the lucrative opportunity, they will also make every effort to get him frustrated,” Obasanjo stated.

Officials of the Dangote Group recently cried out that international oil companies were frustrating the refinery by refusing to sell crude or by selling to them at a premium up to $4 above the normal price.

They also accused the Nigerian Midstream and Downstream Regulatory Authority of deliberately granting licences to individuals to import dirty fuel.

The regulator denied this, saying Dangote diesel was inferior when compared to the imported ones.

The NMDPRA Chief Executive, Farouk Ahmed, also stated that the country would not stop fuel importation to avoid a monopoly by the Dangote Group.

Obasanjo, speaking further, disclosed that Nigeria made a deadly mistake by putting all its eggs in what he called one basket of oil, ignoring gas and agriculture.

“I believe we made a very, very deadly mistake. We put all our eggs in one basket of oil. We even ignored gas. We were flaring gas, which is a very important commodity

“We ignored agriculture, which should have been the centrepiece of our economic development,” Obasanjo stated.

He recalled how he persuaded Shell to run the country’s refineries but the International Oil Company refused, saying there was too much corruption in the sector.

“When I was President, I invited Shell and I said, look, come and take equity participation and run our refineries for us. They refused. They said our refineries have not been well maintained.

“We have brought amateurs rather than bringing professionals. They said there’s too much corruption with the way our refinery is run and maintained. And they didn’t want to get involved in such a mess,” he explained.

On the promises that the refineries will be fixed, he asked, “How many times have they told us that? And at what price?

“Those problems, as far as the government refineries are concerned, have never gone away. They have even increased. So if you have a problem like that and that problem is not removed then you aren’t going anywhere.”

The former President also condemned the style adopted by President Bola Tinubu to remove fuel subsidies, stating that the present administration should have first considered the hardship the subsidy removal could cause people and how to ameliorate the same.

“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back,” the former President stressed.

He said there must be investor confidence in Nigeria, adding, “You have to go from transactional economy to transformational economy.”

Obasanjo expressed concern over youths’ restiveness caused by unemployment, fearing that Nigeria might be sitting on a keg of gunpowder.

“Our youth are restive. And they are restive because they have no skill. They have no empowerment. They have no employment. We are all sitting on a keg of gunpowder. And my prayer is that we will do the right thing before it’s too late,” he warned.

News

JUST IN: Tinubu’s Minister Resigns Amid Allegations

Published

4 minutes ago

October 7, 2025

Editor

The Minister of Innovation, Science, and Technology, Geoffrey Nnaji, has resigned from President Bola Tinubu’s cabinet amid controversies surrounding his academic records and allegations of certificate forgery.

Nnaji, who was appointed in August 2023, announced his resignation in a letter to the President on Tuesday, expressing appreciation for the opportunity to serve.

Confirming the development in a statement on Tuesday, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, said, “President Bola Ahmed Tinubu has accepted the resignation of Geoffrey Uche Nnaji, the Minister of Innovation, Science, and Technology, following some allegations against him. President Tinubu appointed Nnaji in August 2023.

“He resigned today in a letter thanking the President for allowing him to serve Nigeria. Nnaji said he has been a target of blackmail by political opponents. President Tinubu thanked him for his service and wished him well in future endeavours.”

Nnaji’s resignation comes amid a lingering controversy over alleged certificate forgery and questions surrounding his academic qualifications from the University of Nigeria, Nsukka.

Nnaji and the Enugu State Government had traded words over allegations that he presented forged certificates.

The dispute intensified after the Federal High Court in Enugu rejected Nnaji’s bid to stop the University of Nigeria from releasing his academic records.

The court had ruled that the institution was within its rights to release the minister’s academic details in response to a freedom of information request, a decision that fuelled further public scrutiny.

Nnaji, however, maintained that he was being blackmailed by political opponents determined to tarnish his reputation.

News

UNIBEN Bans Students’ Sign-out Celebration

Published

30 minutes ago

October 7, 2025

Editor

The University of Benin (UNIBEN) has prohibited all forms of sign-out celebrations by graduating students.

The ban is contained in a circular by the university’s Registrar, Mr Ademola Bobola, on Tuesday in Benin.

In the circular addressed to members of the university community, the management warned that violators risk severe disciplinary actions, including rustication, expulsion, or withdrawal of certificate.

Bobola said the decision was reached at a meeting on Monday, where it reaffirmed an earlier resolution of the university’s Senate banning such activities on campus.

“The management declared that no sign-out celebration of any kind, including signing on T-shirts and playing of music, will be tolerated,” he said.

He stated that the university would not condone any form of disorderly conduct or unauthorised gathering during or after examinations.

“Indiscriminate parading around the campuses in any brand of vehicle will not be permitted,” the circular warned.

According to him, unauthorised vehicles will not be allowed into the campuses all through the last week of the second semester examination.

“The management also prohibited large gatherings around faculties, schools, or institutes after examinations.

“Photographers will not be permitted to put up photo stands or galleries for the purpose of such celebration,” he said.

He said the management equally cautioned parents and guardians of final-year students against visiting campus premises during the final days of examinations.

“Parents and guardians of final-year students are advised to stay away from the Faculty, School, or Institute premises, especially on the last day of examination,” he said.

Bobola emphasised that the university’s stance was aimed at maintaining order, discipline, and academic decorum on campus.

“Members of the university community are kindly invited to note the above position for strict compliance.

“Any violation will attract severe disciplinary sanctions, including withdrawal of certificate, rustication, and expulsion of violators,” he warned.

News

Recruitment: Customs Announces Exam Date For Shortlisted Applicants

Published

38 minutes ago

October 7, 2025

Editor

Nigeria Customs Service (NCS) has announced that the main online recruitment examination for shortlisted candidates in the Inspectorate and Customs Assistant cadres will be conducted on Thursday, 9 October 2025.

The service said the online test marks a major step in its ongoing nationwide recruitment process aimed at strengthening manpower in the middle and lower ranks of the organisation.

The exercise, according to the statement, will be held entirely online to ensure fairness, transparency and equal access for applicants across the country.

Candidates have been grouped into three batches A, B and C and are required to log in with their National Identification Number (NIN) through the official portal https://updates.customs.gov.ng, https://updates.customs.gov.ng) to check their batch, date and time of examination.

The NCS emphasised that compliance with the allocated schedule is compulsory, warning that failure to adhere could result in automatic disqualification.

Applicants have been strongly advised against the use of calculators, mobile phones or any other electronic devices during the examination.

The service further cautioned against multiple log-ins or switching between browser windows, stressing that such actions could disrupt or terminate participation in the test.

Only candidates shortlisted under the Inspectorate and Customs Assistant cadres are eligible to participate at this stage, while those in the Superintendent cadre will be notified separately for their own phase of the process.

NCS noted that the exam represents part of the NCS’s ongoing effort to modernise its recruitment and ensure that only qualified candidates proceed to the next stage of selection.

The use of online testing, they said, allows for improved efficiency and reduces human interference in the marking and assessment process.

The NCS reiterated its commitment to integrity, transparency, and merit-based recruitment, urging all applicants to follow the laid-down procedures strictly.

It also encouraged candidates to maintain vigilance against online scammers or fake recruitment agents posing as customs officials, warning that all genuine updates would be published only through official NCS channels and its verified social media pages.