This caution follows a statement made by the businessman
proposing that NNPC should acquire the refinery to counter allegations of
monopolistic behavior. Dangote made this statement amidst the controversies
surrounding his 650,000 barrels per day refinery.
Farouk Ahmed, the Chief Executive of the Nigerian Midstream
and Downstream Petroleum Regulatory Authority, had previously mentioned that
Dangote and other local refineries have been producing low-quality fuels.
Ahmed said, “We cannot rely heavily on one refinery to feed
the nation, because Dangote is requesting that we should suspend or stop
importation of all petroleum products, especially AGO and direct all marketers
to the refinery. That is not good for the nation in terms of energy security.
That is not good for the market, because of monopoly.”
In response to Ahmed’s remarks, Dangote expressed his
willingness to transfer ownership of the refinery to the government.
“Let them (NNPCL) buy me out and run the refinery the best
way they can. They have labelled me a monopolist. That’s an incorrect and
unfair allegation, but it’s okay. If they buy me out, at least, their so-called
monopolist would be out of the way,” Dangote said.
However, in a brief statement issued on Monday, Agbakoba
expressed his disagreement, posing the following questions: “Why would the
government take over a privately constructed facility? Why has the Federal
Government been unable to repair its own refineries over the years?”
Agbakoba emphasized the imperative to prioritize the nation’s
progress over individual interests. He highlighted the availability of viable
alternatives and stressed the urgent need to address critical infrastructure
deficiencies.
According to the esteemed legal expert, Nigeria must focus
on revitalizing its refineries and ensuring the provision of essential services
such as electricity, clean water, quality healthcare, education, transportation
infrastructure, and adequate food supplies.
“The simple alternative for us all is this – Let Nigeria
work. Let there be light. Let there be food. Let there be water. Let there be
jobs. Let there be money, schools, healthcare, roads and others,” he stressed.
This, he said, is the way to end the so-called Dangote
monopoly “and not as suggested by taking over another man’s sweat.”
He added, “Let the Federal Government fix its own
refineries. If all our refineries are working, there won’t be anything called a
Dangote Refinery monopoly.”
Agbakoba expressed his unequivocal support for Dangote and
other domestic refineries, emphasizing their potential to significantly enhance
the nation’s refining capabilities and eliminate the need for fuel importation.
It is noteworthy that Agbakoba recently advocated for a
comprehensive overhaul of the country’s energy sector and regulatory framework,
addressing President Bola Tinubu directly.