Obasanjo: NNPC Rejected Dangote’s $750m Offer to Manage Refineries in 2007
Former President Olusegun Obasanjo has alleged that the Nigerian National Petroleum Corporation (NNPC) turned down a $750 million proposal from billionaire businessman Aliko Dangote to manage the Port Harcourt and Kaduna refineries in 2007.
In an exclusive interview with Channels Television, Obasanjo disclosed that the NNPC rejected the offer despite being aware of its inability to manage the refineries effectively.
Read also: NLC Hails Dangote Refinery Reduction Of PMS Price
“Aliko got a team together and they paid $750m to take part in PPP (Public–Private Partnership) in running the refineries,” Obasanjo recounted.
He added, “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 can run it. I now said but you know they cannot run it.”
Obasanjo served as Nigeria’s President from May 1999 to May 2007 and previously as the country’s Military Head of State from February 1976 to October 1979.
