Presidential candidate of the Labour Party in the 2023 presidential elections, Peter Obi, has urged the federal government to support the Dangote Refinery, emphasizing its economic importance rather than politicizing it.
Obi, in a series of tweets on his verified X page on Tuesday, Peter Obi stressed that the Dangote refinery is an economic issue, not a political one.
He wrote, “Dangote Refinery Should Be Fully Supported, Not Vilified. The recent conflicts between Dangote Industries and some government agencies are deeply troubling. This issue transcends political affiliations and personal grievances. It is fundamentally about Nigeria’s economy, future, and the well-being of its citizens.”
Peter Obi highlighted the significant contributions of Dangote to Nigeria and urged for swift resolution of the disputes.
He called for government agencies to support the refinery’s seamless launch and operation, pointing out its potential to generate approximately $21 billion in annual revenue and create over 100,000 jobs, along with numerous additional positive impacts on the economy.
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He added, “Its strategic importance in addressing Nigeria’s fuel crisis, boosting foreign exchange earnings, and fostering economic growth cannot be overstated. The refinery is too vital to fail and must not be hindered, considering its crucial role in our national welfare.”
Obi also emphasized Dangote’s role as a national and African brand symbolizing patriotism and impactful entrepreneurship.
He praised Dangote for establishing a remarkable industrial hub in Nigeria, encompassing over 15 sectors, including cement, sugar, salt, fertilizer, infrastructure, tomatoes, automotive, energy, petrochemicals, rice, poly sacks, real estate, mining, logistics, and maritime.
He stressed that Dangote’s unwavering dedication to Nigeria’s industrialization, job creation, and economic growth warrants full support and protection.
Obi warned against the worsening economic indicators like unemployment, inflation, forex scarcity, and debt, and called for every sensible and patriotic government to regard enterprises like Dangote Industries as national treasures.
Obi urged the Federal Government and its agencies to provide all necessary support to Dangote Industries, particularly the refinery. “The success of Dangote is intrinsically linked to the success of Nigeria and Africa; conversely, its failure would be a significant setback for both Nigeria and the continent.”
His stance comes as Aliko Dangote faces several crises with government authorities and local crude oil producers, with Nigeria expecting the commencement of Premium Motor Spirit or petrol production by the refinery come August.
On Monday, Obi had called for quick action to resolve the current economic crisis in the country, highlighting the contrast between Nigeria’s economic performance in the early years of its return to democracy and its current state.
He noted that from 1999-2014, Nigeria maintained an average GDP growth of about 6.72%, but this growth collapsed to 2.79% in 2015, and the economy slipped into recession in 2016.
Obi pointed out that in 2014, Nigeria had the biggest economy in Africa with a GDP of $568.5 billion and a GDP per capita of about $3,200. In contrast, by 2023, Nigeria had fallen to the 4th largest economy in Africa, with a GDP of $375 billion and a per capita of $1,700. The situation worsened in 2024, with the GDP further declining to an estimated $253 billion and per capita dropping to $1,087.
According to data from StatiSense, an AI data company, Obi expressed alarm at the current state of affairs, noting rising poverty, unemployment, and food inflation over 43%. He called for urgent actions to salvage the nation from further economic collapse and move it from consumption to production.
Obi criticized the current leadership for being more concerned with funding their selfish luxuries and individual lavishness while blaming others committed to solving the nation’s problems. He concluded by urging leaders to commit to inclusive and sustainable growth to end the hardship burdening Nigerians, thereby achieving a peaceful and secure society.
