Former Minister of Education, Oby Ezekwesili, has urged an independent audit to investigate why the Nigerian National Petroleum Company Limited capped its investment in the Dangote Petroleum Refinery at 7.2% rather than the planned 20%.
According to The PUNCH, this call for scrutiny comes amid denials by NNPC’s Group Chief Executive Officer, Mele Kyari, of owning a blending plant outside Nigeria.
Ezekwesili’s statements and Kyari’s rebuttal contribute to the ongoing controversies surrounding the Dangote refinery.
Ezekwesili, initially hesitant to comment on the issue, expressed her concerns via her official X handle.
She stated, “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.”
Ezekwesili questioned how a project deemed a ‘national interest project’ could become entangled in such controversy, which has attracted the attention of both local and international investors.
She referenced the Nigerian government’s earlier claim of borrowing $3.3 billion from Afriexim-Bank to acquire a stake in the refinery.
Reflecting on her tenure under President Olusegun Obasanjo, Ezekwesili recalled advising NNPC leaders against operating autonomously, “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’.”
Ezekwesili highlighted the establishment of the Nigeria Extractive Industries Transparency International during her administration to ensure transparency in the oil and minerals sector.
She called on President Bola Tinubu to utilize NEITI to audit the Dangote refinery-NNPC deal thoroughly.
President of Dangote Group, Alhaji Aliko Dangote, recently clarified that NNPC’s stake in his refinery is 7.2%, not the initially agreed 20%.
“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,” Dangote explained.
NNPC confirmed the decision to limit its investment, while Kyari addressed allegations of owning a blending plant in Malta.
He denied these claims on his X handle, asserting he only owns a local mini-agric venture and is unaware of any NNPC employee owning or operating such a plant.
Kyari emphasized, “A blending plant in Malta or any part of the world does not influence NNPC’s business operations and strategic actions.”
He also vowed to sanction any NNPC official found guilty of such actions.
These discussions follow accusations from the Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, about the high sulphur content in diesel produced by Dangote’s refinery, which Dangote dismissed as an attempt to undermine his business.
Ahmed further indicated that Nigeria would continue to import fuel to avoid Dangote’s monopoly.
