Former Minister of Education, Oby Ezekwesili, has called for an independent audit to investigate why the Nigerian National Petroleum Company Limited (NNPC) limited its investment in the Dangote Petroleum Refinery to 7.2 percent instead of the initially planned 20 percent.
This demand follows a statement from NNPC’s Group Chief Executive Officer, Mele Kyari, who denied owning a blending plant outside Nigeria on Tuesday. These developments come amid ongoing controversies surrounding the Dangote refinery.
Ezekwesili, addressing the issue on her official X handle, highlighted the need for transparency and public accountability. She stated, “As more information emerges from both parties, it’s clear that something murky has occurred and needs to be fully unraveled urgently.”
Ezekwesili criticized the handling of the refinery project, which had been touted as a significant national interest. “How can a project of such national importance be embroiled in such controversy, attracting negative attention from both local and international investors?” she questioned. She also reminded the public of the Nigerian government’s borrowing of $3.3 billion from Afriexim-Bank to invest in the refinery.
Reflecting on her tenure in government, Ezekwesili mentioned her efforts to push for transparency within NNPC, advocating for the establishment of the Nigeria Extractive Industries Transparency Initiative (NEITI) to regulate transparency in the oil and minerals sectors.
She urged President Bola Tinubu to leverage NEITI for an independent audit of the Dangote refinery-NNPC transaction, to provide the public with a clear understanding of the situation.
The controversy was heightened by Alhaji Aliko Dangote, President of the Dangote Group, who recently revealed that NNPC’s investment in his refinery was only 7.2 percent, contrary to the 20 percent initially agreed upon. Dangote explained, “The agreement was for 20 percent, but NNPC did not fulfill the payment, and they decided to stay at 7.2 percent.”
In response, NNPC confirmed it chose not to further invest in the refinery.
Kyari Denies Plant Ownership
Mele Kyari, responding to allegations made by Dangote that some NNPC officials own blending plants in Malta, firmly denied such claims. Dangote had suggested that these operations were undermining local petroleum production.
Kyari addressed these allegations on his X handle, clarifying, “I do not own or operate any business directly or by proxy anywhere in the world except for a local mini-agric venture. I am also not aware of any NNPC employee owning a blending plant in Malta or elsewhere.”
He assured that any NNPC official found involved in such activities would face sanctions and recommended that such individuals be reported to relevant government security agencies.
These statements follow accusations from Farouk Ahmed, Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, who claimed that diesel produced by the Dangote refinery had higher sulfur content than imported products, a claim Dangote rebuffed as an attempt to undermine his refinery. Ahmed had also stated that fuel imports would continue to prevent Dangote’s monopoly.
This ongoing dispute highlights the complexities and challenges within Nigeria’s oil industry, emphasizing the need for transparency and accountability.
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