Lagos, Nigeria — Youth groups in Lagos State have called on traditional rulers in Yoruba land to support the $20 billion Dangote oil refinery, emphasizing its importance as a major investment in the region.
The youths, representing the Lagos Advocacy Group, Lekki Empire Advocacy Forum, and Yoruba Youth Advocacy Forum, expressed their gratitude to President Bola Tinubu for approving the sale of crude oil to the refinery in naira. They had previously threatened protests if the Federal Government did not address concerns raised by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Farouk Ahmed, who claimed the refinery was producing high sulphur diesel.
Speaking at a press conference in Lagos, Barrister Yakubu Eleto, Convener of the Lagos Advocacy Group, appealed to South-West traditional rulers to support the refinery. “The royal fathers should not allow this great investment to die, as posterity will judge them if they fail to act now,” he stated.
Eleto highlighted the challenges faced by the refinery, including the alleged refusal of international oil companies to sell crude oil to Dangote at market prices and efforts by certain groups to undermine the refinery. He urged the monarchs to take immediate and collective action as stakeholders in the host community.
Eleto noted that the Federal Government’s efforts to attract foreign investors would falter if Aliko Dangote’s significant investments were seen as frustrated. He warned that the failure of the 650,000-barrel-per-day refinery would result in over 10,000 youths losing potential job opportunities.
“As stakeholders in the Lagos and South-West community, we are committed to resolving these disputes by advocating for an amicable resolution between the Federal Government and the management of Dangote refinery. We appreciate the president’s initial steps but demand transparency and accountability in the refinery’s operations and government regulations,” Eleto said.
The groups called on the government to support the refinery project, ensuring it benefits the Nigerian public and the local community. They urged the government to maintain open channels for continuous dialogue with Dangote management to facilitate mutually beneficial solutions, which would contribute to the country’s economic growth.
To address pricing challenges, the groups suggested collaborative agreements between Dangote and independent marketers to stabilize prices and ensure wider market access for Dangote’s refined products. They emphasized that such collaborations would mitigate the impact of international market fluctuations on the local fuel market, providing stability for consumers and businesses.
They also urged the Nigerian Upstream Petroleum Regulatory Commission to prioritize domestic crude allocations to local refineries, including Dangote’s, to enhance energy security and economic stability.
“We also urge the Federal Government to reassess the licensing and regulatory framework to prevent the importation of substandard fuels and support local refining initiatives. The Federal Government’s integrity will be restored as a government that supports indigenous investors and is seen by the international community as investor-friendly,” Eleto advised.
After weeks of concerns over the lack of crude supply, the Federal Government announced on Tuesday that the 450,000 barrels meant for domestic consumption would be sold to the Dangote refinery and other refineries in naira. This decision came after many prominent Nigerians defended Dangote following accusations from the NMDPRA boss that Dangote was planning to monopolize fuel production despite producing substandard fuel.
