Nigeria Youth Advocacy for Good Governance Initiative (NYAGGI) has warned against the sabotage of the $20 billion Dangote Refinery.
It said any attempt to frustrate the refinery from coming onstream would spell doom for Nigeria.
At a press conference in Abuja yesterday, the group called on President Bola Ahmed Tinubu to ensure the implementation of the Petroleum Industry Act (PIA).
NYAGGI, led by Comrade Ambassador Shuaibu Abdulkadir, argued that protecting Dangote and other local refineries was in the country’s best interest.
While applauding President Tinubu over the directive that crude oil be sold to the Dangote Refinery in Naira, Abdulkadur argued that Dangote Refinery’s success would propel Nigeria towards economic self-reliance and also establish the country as a key player in the global petroleum industry.
He said it was a paradox that after investing over $20 billion, the refinery was being forced to import crude oil while the international oil companies (IOCs), in collaboration with certain regulatory bodies, had created a market structure that favours exporting “our crude and importing refined products.”
Abdulkadir said the leadership of the IOCs, the Nigerian National Petroleum Company Limited (NNPCL), and the NMDPRA must be held accountable for any sabotage.
“It is crucial to ensure the success of indigenous initiatives such as the Dangote Refinery, which are vital to the nation’s economic sovereignty and sustainable development,” he stated.
“Nigeria must firmly reject the exploitative practice of being a dumping ground for substandard and harmful products. The current model – where IOCs extract raw materials from Nigeria, generate wealth and employment abroad, and then flood our markets with overpriced refined products – is unsustainable and detrimental to our national development.
“The operational success of the Dangote Refinery, evidenced by a reduction in diesel prices, underscores its potential to lower the cost of petroleum products nationwide. This potential benefit is precisely what certain foreign interests seek to undermine, preferring a dysfunctional Nigerian refining sector to maintain their exploitative practices.
“The Dangote Refinery was conceived and built to change the narrative in Nigeria’s industrial sector, particularly in oil refining. It is a clear statement that we have the capacity and the will to control our resources and dictate the terms of our economic future. We must not let this opportunity slip through our fingers due to the actions of a few who prioritise profit over national interest,” Abdulkadir said.
The group demanded a thorough investigation into the operations of the NNPCL to ascertain the true state of Nigeria’s oil production capacity.
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