Former President Olusegun Obasanjo has revealed that the Nigerian National Petroleum Corporation (NNPC), now known as NNPCL, rejected a $750 million offer from billionaire businessman Aliko Dangote to manage the Port Harcourt and Kaduna refineries.
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Speaking in an exclusive interview with Channels TV, Obasanjo disclosed that in 2007, Dangote assembled a team and offered $750 million as part of a public-private partnership to operate the refineries. However, the NNPC turned down the proposal, insisting on managing the facilities themselves.
Obasanjo said, “Aliko got a team together and they paid $750m to take part in PPP (Public–public-private partnership) in running the refineries.
“My successor refunded their money and I went to my successor and told him what transpired. He said NNPC said they wanted the refineries and they can run it. I now said but you know they cannot run it.”
The former president further revealed that despite spending over $2 billion on the refineries since then, they remain non-functional.
“But I was told not too long ago that since that time, more than $2 billion have been squandered on the refinery, and they still will not work,” he added.
