The Digest:
Aliko Dangote, president of Dangote Group, has cast doubt on the future of Nigeria's state-owned refineries, claiming that despite $18 billion spent on their rehabilitation, they may never work again. The businessman criticized the failure to privatize the refineries, echoing concerns over NNPC’s inefficiency.
Key Points:
- Dangote stated that Nigeria’s refineries may never function despite $18 billion in rehabilitation costs.
- He noted the refineries were initially purchased in 2007 but later returned to government ownership.
- The businessman compared the rehabilitation to upgrading an old car with modern technology.
- Former President Obasanjo also criticized NNPC’s handling of the refineries, suggesting corruption hindered privatization.
- He highlighted the disparity between private-sector-run projects and state-owned ventures, citing the success of Dangote’s refinery.
- Obasanjo revealed that $2 billion had been spent in recent years with no tangible results.
- Dangote’s comments raise further concerns over the effectiveness of state-owned enterprises in Nigeria.
Dangote’s critique underscores the inefficiency of the state-owned refineries and the failed promise of rehabilitation efforts, reflecting the broader issue of mismanagement in Nigeria's public sector.
Sources: Daily Post, Punch, Channels TV
