₦airaland Forum

A former Minister of Education, Oby Ezekwesili, has called for an independent audit of business dealings between the Nigerian National Petroleum Company Limited (NNPCL), and the Dangote Refinery.

This is as the Chief Executive Officer of the Dangote Group and owner of the Dangote Refinery, Aliko Dangote, last week, revealed that NNPCL had capped its equity in the Dangote Petroleum Refinery at 7.2 per cent instead of the speculated 20 per cent.

“The agreement was actually 20 per cent which we had with NNPC, and they did not pay the balance of the money up till last year; then we gave them another extension up till June (2024), and they said that they would remain where they have already paid, which is 7.2 per cent. So NNPC owns only 7.2 per cent, not 20 per cent.” [/b]Dangote stated.

[b]NNPC confirmed this, saying it decided not to invest further in the refinery.

Reacting to the controversies, Ezekwesili said she had earlier decided not to speak on the Dangote refinery-NNPC saga.

“However, as more and more information filtered out from both parties, we can reasonably conclude that something seriously murky has gone on and needs to be fully unravelled for public accountability. And urgently, too,” she stated.

The former minister added, “How can a project that by all definition attained the stature of a ‘national interest project’ be marred in this depth of embarrassing controversy that is playing out in the full glare of the local and international investing community?

“Did the Nigerian government not tell us it borrowed $3.3bn from Afriexim-Bank to take a stake in the Dangote refinery?”

Ezekwesili recalled that during former President Olusegun Obasanjo’s administration, she told the NNPC that it could not run as a federation on its own.

“When we were in government, I often told the NNPC leadership that they cannot carry on as though there is a ‘Federal Republic of the NNPC’ just because they think of themselves as ‘the goose that lays the golden egg’.

“The opacity of the NNPC was the reason we took great delight in designing the multi-stakeholders Nigeria Extractive Industries Transparency International in those early 2000s that I pioneered as Chairperson.

“We went above global minimum voluntary standards of transparency requirements by entrenching ours in an Act that established NEITI as the transparency regulator of the oil and minerals sector,” she explained.

She called on President Bola Tinubu “to immediately use the instrumentality of NEITI to launch an independent audit of the Dangote refinery-NNPC transaction to offer the public the true state of play.”

Dangote had also alleged that some top officials of the NNPCL own blending plants in Malta.

Dangote had said, “Some of the terminals, some of the NNPC people, and some traders have opened blending plants somewhere off Malta. We all know these areas. We know what they are doing.”

Reacting to this, Kyari said he had been inundated with calls from family members and friends, asking if he truly owns a blending plant in Malta.

Kyari denied the allegation
The NNPC helmsman said he does not own or operate any business directly or by proxy anywhere in the world, except for a local mini-agric venture.

Source: https://www.channelstv.com/2024/07/24/ezekwesili-calls-for-audit-of-dangote-nnpcl-business-transactions/

This is just the way forward. Dangote and NNPC are like two promiscuous co-wives who fell apart and started washing their dirty underwears in public. Their hidden transactions should be probed.

Ok

Ezekwesili should chill, na business dem dey do. Dangote don dey create jobs and boost the economy. Instead of audits, how about supporting the progress? Na so we go fit grow together!

The can of worms that will be unearthed will make sane Nigerians shudder in bewilderment and horror though it didn't start today.

This would have been the sensible thing to do in any sane clime.
But then Nigeria is not a sane clime.
Even if they attempt to do an audit, it will all end in a media charade with nobody held accountable at the end of the day.

Nigeria I hail thee. 🫡

This is recommendable

Is this not a sensible thing to ask for.

That refinery is not worth 20 billion.

The largest refinery by capacity in the world. The largest refinery in the world, as of recent data, is the Jamnagar Refinery located in Gujarat, India. It is owned by Reliance Industries Limited. Here are some key details:

Jamnagar Refinery

• Capacity: The Jamnagar Refinery has a combined refining capacity of approximately 1.24 million barrels per day (bpd). This includes the original refinery and the adjacent export-oriented refinery.
• Cost of Building: The initial phase of the refinery, completed in 1999, cost about $6 billion.

This 20% by NNPC is closer to the whole cost of the whole Refinery.

Good.

This govt will go home in 2027 as the most corrupt in the history of the black 🐈‍⬛🖤 race

Yes o Ojoro is there

Oby careful o. Idiots will soon come for you. The words "Nigeria" and "audit" don't mix

Agbâdo bastárds who have been insulting Dangote these past few days, writing epic pieces and calling him a monopolist should be jumping at this suggestion of an audit but the bloodthirsty vampires will shift the goal post again and we all know why

Sour relationship

Ok

Can we also audit the several billions of dollars used in maintaining the refineries from 1999-2024 without anything to show for it?

How can the government spend more than two times the amount it took Dangote to set up a brand new refinery on maintenance of existing refineries with zero results?

What sort of satanic fraud is this?

Dear patriots and civil service organisations it’s time to invoke the freedom of information act on this critical matter.

Some fat overfed cats have to start talking!

Yes, that would have happened only if Nigeria was a serious country.

Chinkoalhaji34:
Ezekwesili should chill, na business dem dey do. Dangote don dey create jobs and boost the economy. Instead of audits, how about supporting the progress? Na so we go fit grow together!

Is audit a bad thing?

Does audit stop progress. I don't think so.

Watin concern this foolish IPOB woman with Nigeria matters?

Hmm 😒 abeg make oby no put mouth for inside this matter

APC, Agbad0rians and BATists don too use this refinery make mouth for us this past year saying once it starts 'this will happen - that will happen'

All for it to end like this. Na now notherners go understand the true meaning of SOPHISTICATION

Ronu Ronu Ronu

Oby Ezekwesili nawaoooooo. You wan open a can of worm?. Hmmmmmm a white elephant prooje eeeeeeeeh.

Are Druggie and cabals fighting that thing cos they invested money and another race scammed them and took chunk out to Asian?

Finally it's a fa8lure?


You ger rit?

Noerection:
Watin concern this foolish IPOB woman with Nigeria matters?

oya type the wrunbish.
Come and complete your drugs at yaba psychiatric centre, dem dey find you .🤣🤣🤣

Racoon:
The can of worms that will be unearthed will make sane Nigerians shudder in bewilderment and horror though it didn't start today.

nah shock go kill the auditors self [left][/left]

I fully support Ur motion Mama Obi, make all the hidden secrets come outside.

Good suggestion

Loud

Chinkoalhaji34:
Ezekwesili should chill, na business dem dey do. Dangote don dey create jobs and boost the economy. Instead of audits, how about supporting the progress? Na so we go fit grow together!

11 times out of 10, you say things before thinking and end up making no fûcking sense

Ezekwesili should chill. Dangote has built an empire that’s benefiting the economy. If anything, let’s focus on how to support and grow local businesses instead of always looking for faults. Transparency is good, but let’s not forget the progress he’s made for Nigeria.

We need to stop those criminals by force,

They looted money