Yar’Adua cancelled refinery sale due to Obasanjo’s breach of due process – Falana

THE CABLE

Femi Falana, a human rights lawyer, says former President Umaru Yar’Adua rejected the sale of the Port Harcourt and Kaduna refineries to a consortium led by Dangote Oil because his predecessor, Olusegun Obasanjo, did not follow due process when he offered to sell the national asset.

On Thursday, Obasanjo said the late president rejected a $750 million offer from Aliko Dangote, chairman of Dangote Group, to manage the Port Harcourt and Kaduna refineries in 2007.

Obasanjo said he had plans to address the challenges faced by the Port Harcourt, Warri, and Kaduna refineries during his presidency.

However, in a statement on Friday, Falana said Obasanjo had sold a 51 percent stake in the Port Harcourt refinery to Bluestar Oil for $561 million.