Don’t Buy Dangote’s Refinery – Agbakoba Advises Tinubu Govt

A Senior Advocate of Nigeria (SAN), Olisa Agbakoba, has advised the federal government not to acquire Dangote’s refinery.

Olisa Agbakoba said this in reaction to a report that the President of Dangote Group, Aliko Dangote, plans to sell off its $20 billion refinery.

 

 

On Monday, in a statement, Agbakoba said the federal government should focus on reviving the government-owned refineries.

Agbakoba said Professor Itsey Sagay‘s argument that the federal government can take over Dangote’s refinery was not the best option.

The former president of the Nigeria Bar Association (NBA) said, “The proposal for the Federal Government to acquire Dangote’s refinery raises significant considerations. It is disturbing that the government would seek to take over a privately constructed facility after years of neglecting its own refineries.

“While Prof. Itse Sagay (SAN) contends that such action is permissible under the Constitution and suggests fair compensation for the owner, I believe that we can find a constructive solution to the issue surrounding the Dangote Refinery.”

He said if the federal government revives the government-owned refineries, it will contribute to creating a more robust infrastructure that will serve the needs of Nigerians.

“Instead of considering the takeover of Aliko Dangote’s refinery, the government should prioritize the long-overdue repairs and upgrades of its own refineries. By doing so, the government can contribute to creating a more robust and self-sufficient infrastructure that serves the needs of the Nigerian people,” he said.

He advised the federal government to take alternative step if Aliko Dangote has held the government ransom through his refinery. He said the only way of rendering Dangote irrelevant would be to fix government refineries.

“But why take over what a private individual built? Why can’t the Federal government fix its refineries all these years? Why allow an efficient business man hold you to ransom when there is a very simple alternative.

“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, health care, roads etc. This is how to render Dangote irrelevant and not as suggested by taking over another man’s sweat even if the sweat is to cheat us. Let the Federal government do its own refineries and bluff Dangote,” Agbakoba added on his X handle.