Connect with us

News

Yar’Adua rejected Dangote’s $750m offer to manage Kaduna, PH refineries in 2007 – Obasanjo

Published

on

Former President Olusegun Obasanjo has revealed his successor, Umaru Musa Yar’Adua, rejected a $750 million offer from Aliko Dangote, chairman of Dangote Group, to manage the Port Harcourt and Kaduna refineries in 2007.

Obasanjo spoke in an interview with Channels Television, on Thursday, where he highlighted the challenges faced with Port Harcourt, Warri, and Kaduna refineries during his presidency.

The former president said the Nigerian National Petroleum Company (NNPC) Limited was aware of its limitations in managing the nation’s refineries but still informed Yar’Adua that the oil company can operate the refineries — leading to his successor rejecting Dangote’s offer.

Obasanjo also said he sought external help to rehabilitate and manage the facilities but faced resistance.

“When I was president, I wanted to do something about the three refineries we have: Port Harcourt, Warri, and Kaduna. Aliko got a team together after I asked Shell to come and run it for us. And Shell said they wouldn’t,” Obasanjo said.

See also  Nigeria’s Super Eagles crash out of Nations Cup

“Later on, I called them. I called the boss of Shell to come and tell me what the problem was and he gave me four or five reasons.

“He (Shell boss)  said, first of all, they make a major profit from upstream, not from downstream. He said they run downstream just to keep their head above water.

“Two, our refineries were too small: 60,000 barrels, 100,000 barrels and I think 120,000 barrels. He said that at that time, the average refinery was going for 250,000 barrels.

“Three, he said our refineries were not well maintained. Four, he said that there was too much corruption around the activities of our refinery and they would not want to get involved in that.

“After that, 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.

See also  2023: Say no to moneybags, Obi tells Nigerians

“He said NNPC said they wanted the refineries and they could run it. I now said but you know they cannot run it.”

‘$2BN SPENT ON REFINERIES BUT NO RESULT’

The former president also said he is confident in Dangote’s ability to manage his privately owned refinery effectively, contrasting it with the government’s inefficiency.

Obasanjo also expressed frustration over the mismanagement of the refineries, adding that despite the amount spent on them since 2007 no results have been made.

“I was told not too long ago that since that time, more than $2 billion have been squandered on the refinery and they still will not work,” he said.

“If a company like Shell tells me what they told me, I will believe them. But here we are, over $2 billion squandered, and the refineries still won’t work.”

On December 31, 2024, Mele Kyari, the group chief executive officer (GCEO) of the NNPC, said the Warri Refining & Petrochemicals Company (WRPC) in Delta state was now operational.

See also  UPDATED: Kano Govt orders Bayero to vacate mini palace

On November 26, the NNPC said the Port Harcourt refinery had officially commenced crude oil processing.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

2027: Opposition parties plan to field single presidential candidate

Published

on

By

Ahead of the 2027 general election, opposition political parties are making moves to present a single presidential candidate

The resolution was adopted on Saturday at the national summit of opposition political party leaders held in Ibadan, the capital of Oyo state.

The parties at the summit include the African Democratic Congress (ADC) faction led by David Mark, the Peoples Democratic Party (PDP), chaired by Kabiru Turaki, and the New Nigeria People’s Party (NNPP).

In a communiqué issued at the end of the summit, the parties said they will resist all “machinations by the All Progressives Congress (APC) to foist a one-party state on Nigeria”.

“That despite the onslaughts and manoeuvrings of the ruling party, the APC, to impose President Bola Tinubu as the sole Presidential candidate in 2027, we shall field candidates and contest the 2027 Presidential and other elections,” the communiqué reads.

“That we shall work towards fielding one Presidential Candidate for the 2027 elections, which shall be agreed and supported by all participating opposition parties to rescue our nation and her long-suffering masses.”

See also  UPDATED: Kano Govt orders Bayero to vacate mini palace

The parties alleged that Joash Amupitan, chairman of the Independent National Electoral Commission (INEC), has “shown bias and partisanship in favour of the APC” and should be removed from office.

“Nigerians across board have lost confidence in him and his capacity to guarantee the required neutrality to deliver free, fair, transparent and credible elections. His continuous stay in office is vexatious and capable of triggering widespread crisis in our nation,” the parties said.

The opposition parties called on the national assembly to immediately review the Electoral Act 2026, to “remove all sections that threaten the sanctity and integrity of elections”.

Continue Reading

News

Ex- Ondo Dep Gov Agboola urges preservation of Ese-Odo political power rotation arrangement

Published

on

By

Former Deputy Governor of Ondo State, Ajayi Agboola Alfred, has called on political leaders and stakeholders in Ese Odo Local Government to uphold the longstanding political power rotation arrangement between the Apoi and Arogbo communities, describing it as a vital foundation for peace, unity, and political stability in the area.

In a statement released amid growing political realignments ahead of the next political season, the former deputy governor emphasized that the existing arrangement, which has been in place since 1999, was established to ensure fairness, mutual trust, and peaceful coexistence among the people of Ese-Odo Local Government.

According to him, the rotational understanding has over the years helped to prevent political tension and promote inclusiveness across the two blocs. He noted that the arrangement has remained respected by political actors and leaders across party lines and should not be altered for personal or selfish interests.

Agboola, who stated that he was among the leaders involved in initiating the agreement, recalled how political stakeholders in the past resisted attempts to disrupt the arrangement, particularly during the period when late Dr. Francis Ajih served as Chairman of Ese-Odo Local Government Council.

See also  Oando boss Wale Tinubu celebrates Dangote @67

He explained that despite efforts by some political interests at the time to alter the zoning structure, leaders and residents across party affiliations stood firmly in support of maintaining the agreed political balance, leading to the emergence of Late Hon. Earnest Anifowose from Apoi as a member of the Ondo State House of Assembly.

The former deputy governor warned against any move capable of creating division or mistrust between the Apoi and Arogbo communities, stressing that the House of Assembly seat should, according to the established understanding, remain the turn of Arogbo to produce the next representative.

He also appealed to political figures, including Hon. Toyin Allen, not to allow themselves to be drawn into actions that could threaten the existing harmony within the local government.

While reaffirming his commitment to protecting the arrangement alongside other leaders, Agboola urged all political stakeholders in Ese-Odo to place peace, unity, and collective interest above personal ambition.

See also  Gunmen kill one, kidnap seven on Lagos-Ibadan highway

He further cautioned that any attempt to undermine the established political understanding could trigger avoidable tension and disrupt the longstanding brotherhood between both communities.

The former deputy governor concluded by calling on politicians and community leaders to continue to play politics with fairness, respect for agreements, and commitment to peaceful coexistence for the progress and stability of Ese-Odo Local Government and future generations.

Continue Reading

News

Army recovers suspected remains of soldier couple killed by IPOB/ESN

Published

on

By

The Nigerian Army says it has located the suspected remains of two soldiers who were “brutally abducted and murdered” by suspected members of the proscribed Indigenous People of Biafra and the Eastern Security Network in May 2022 while en route to their traditional wedding.

According to the army, the remains of the couple, identified as Master Warrant Officer Linus Musa Audu and Private Gloria Mathew, were discovered when its troops dismantled a notorious camp belonging to the IPOB and the ESN in Imo State.

“The Nigerian Army has recorded another significant operational success in its sustained efforts to rid the South East of criminal elements, as troops of 82 Division, in conjunction with sister services and other security agencies, successfully dismantled a notorious camp belonging to the proscribed Indigenous People of Biafra (IPOB) and its armed affiliate, the Eastern Security Network (ESN), in Imo State.

“Acting on intelligence information, the operation, conducted on 24 April 2026 along the Ubaha Orsu axis of Orsu Local Government Area, was part of a deliberate clearance and search mission aimed at dismantling IPOB/ESN hideout within the region and locating the remains of two personnel of the Nigerian Army, Master Warrant Officer Linus Musa Audu and Private Gloria Mathew, who were brutally abducted and murdered by IPOB/ESN terrorists in May 2022 while en route for their traditional wedding,” the army said in a statement on its X handle.

See also  Tinubu celebrates Obasanjo on 88 birthday, calls him ‘Ambassador of global peace’

The army explained that the troops, acting on credible intelligence, advanced towards a suspected IPOB/ESN hideout when they came under heavy attack by armed criminals.

It, however, said that the troops demonstrated resilience and decisively engaged the terrorists, successfully repelling multiple ambushes and forcing the criminals to flee in disarray.

“The encounter further exposed the desperation and criminal nature of the group, which continues to target innocent citizens and security personnel alike.

“Following the successful clearance of the camp, troops conducted a thorough search of the area and made a grim but important discovery: shallow graves suspected to contain the remains of the slain personnel. The graves were carefully excavated and suspected remains were recovered,” it stated.

The military authorities further disclosed that the recovered remains had since been secured for detailed forensic analysis, including DNA testing, to conclusively establish their identities.

It also said that efforts were also ongoing to liaise with the families of the fallen soldiers to ensure proper identification and facilitate befitting burial arrangements in honour of their sacrifice.

See also  Evil grandmother sets son, wife, two grandchildren ablaze in Ondo

The army further noted that the operation not only underscored its unwavering commitment to ensuring justice for fallen heroes but also highlighted the continued degradation of IPOB/ESN criminal networks and infrastructure across the South East.

“The discovery of shallow graves within their camp further exposes the group’s heinous atrocities and disregard for human life.

“The Nigerian Army reassures the general public that ongoing operations will continue until all criminal elements are neutralised and lasting peace is restored across the region. We appreciate the Law-abiding citizens for the information and urge you to remain vigilant and continue to support security agencies with timely and credible information.

“The Nigerian Army remains resolute, professional, and committed to defending the sovereignty and territorial integrity of Nigeria,” the statement added.

Continue Reading

Trending News