In the world of decision-making, there is an old saying: “Don’t throw the baby out with the bathwater.” It is a vivid expression that warns against discarding something valuable while trying to get rid of something undesirable. According to Wikipedia, an online encyclopedia, “Don’t throw the baby out with the bathwater” is an idiomatic expression for an avoidable error in which something good or of value is eliminated when trying to get rid of something unwanted.
Given the explanatory value of the forgoing old saying, it is expedient in this context to express the view that Dangote Refinery should not be killed over issues that can easily be addressed with a stroke of the pen.
For the sake of clarity, the Dangote Refinery, located in Lagos, is a massive industrial undertaking, and a brainchild of Africa’s richest man, Aliko Dangote. The refinery aims at transforming Nigeria’s oil and gas sector, and with a projected capacity of 650,000 barrels per day, it promises to significantly reduce Nigeria’s dependence on imported petroleum products.
Without sounding exaggerative in this context, the Dangote Refinery holds significant economic implications for Nigeria as before its emergence, Nigeria imports about 60 million barrels of gasoline daily due to non-operational state-owned refineries. Consequently, with the Dangote Refinery allowed to be operational, so to say, the country can end gasoline imports and create a new domestic market for its crude oil.
In a similar vein, the refinery’s operations are expected to generate thousands of jobs directly and indirectly, boosting local economies and providing opportunities for skill development.
Also, by reducing the need for fuel imports, Nigeria can save billions of dollars annually, strengthening its economy and enhancing energy security.
Succinctly put, the Dangote Refinery has the potential to transform Nigeria’s oil sector, stabilize the economy, and create new opportunities for growth.
Despite the economic benefits that are inherent in the uninterrupted operations of Dangote Refinery, it has been facing several controversies since its inception. Therefore, delving into some of the key issues will in this context reveal the controversies.
For instance, the Nigerian legislators initiated an investigation into the alleged importation of contaminated fuel by the Dangote Refinery. This probe aims to resolve tensions between the refinery, and industry regulators.
In a similar vein, the legislative committee is also examining allegations related to the “indiscriminate issuance of licenses” and the lack of international-standard laboratories responsible for such contaminated products.
Also, controversy arose when Dangote announced plans to hire 11,000 Indian workers for the refinery. Nigerians expressed outrage, citing concerns about local employment opportunities, especially given the Nigeria’s high unemployment rate.
Despite being touted as a game-changer for Nigeria’s oil industry, the $19 billion, 650,000-barrels-per-day refinery has faced challenges. Despite the fact that the refinery was opened over a year ago, it has been struggling to operate at full capacity due to sourcing crude oil from other countries.
Frustratingly enough, regulators accused Dangote of seeking a monopoly in the market, which escalated tensions, and there were concerns about the quality of the refinery’s products, leading to further scrutiny.
To bluntly put it at this juncture, the Dangote Refinery has been at the center of controversies related to fuel quality, employment practices, and operational challenges. Thus, as Nigeria seeks energy self-sufficiency, addressing these issues remains crucial for the success of this ambitious project.
Given the foregoing, it is not a misnomer to conjecture that the shadows of economic sabotage loom large, threatening our critical industry and financial stability, and in the case of Dangote Refinery, Nigerians who occupy the various offices that would allow Dangote Refinery become fully operational without let or hindrance, should not hesitate in bringing their collective patriotic disposition to bear on every issues that pertain to the full operation of the refinery. Let us rise above these challenges and champion progress.
The reason for seemingly pointing accusing fingers in this context is that Aliko Dangote, the visionary behind this ambitious venture, has repeatedly expressed frustration over delays and obstacles, alleging that forces within the Nigerian oil sector have allegedly hindered the refinery’s access to domestic products. These roadblocks, no doubt, threaten not only the refinery’s viability but also Nigeria’s economic prosperity.
To the view of this writer, Dangote Refinery, which is no doubt a monumental project, aims to be a changing game as it is poised to revolutionize Nigeria’s energy landscape, despite its fair share of challenges. In fact, as the nation eagerly awaits its full operationalization, it is crucial that all stakeholders come together to ensure its success, and they should not throw the baby out with the bathwater.
In fact, it is expedient the chance to fully go into operation is given to Dangote Refinery as it is a shame that despite Nigeria’s oil wealth that it continues to import petroleum products. Without a doubt, Dangote Refinery was meant to change this narrative by producing locally. However, delays have prolonged our dependence on imports.
Not only that, the scarcity of Forex has on its own exacerbated the circumstances. The refinery’s success would alleviate this pressure by reducing the need for foreign currency to import refined products.
In fact, Dangote Refinery represents more than a business venture; it symbolizes Nigeria’s potential for self-sufficiency and economic growth. Therefore, let us put aside individual interests and work collectively to ensure its success. Only then can we truly unlock the refinery’s promise and propel our nation forward.
I must confess that this view could not have been expressed at a better time than now as Dangote has few days ago mentioned his willingness to transfer ownership of his multibillion-dollar oil refinery to the state-owned NNPC Limited. He said the new dispute with a key equity partner in the oil and gas industry, particularly the regulatory authorities, is part of an attempt to frustrate the refinery from coming into operation.
Dangote states that despite Nigeria’s long-standing fuel crisis and the $19 billion refinery’s potential to resolve it, there are vested interests unhappy with the project who are willing to undermine its success. He urged the state-owned oil company to buy him out, suggesting that this might dispel accusations of him being a monopoly.
“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 OK. If they buy me out, at least, their so-called monopolist would be out of the way,” Dangote told PREMIUM TIMES in an exclusive interview.
