- Says, Don’t Kill Dangote Refinery Out of Envy
By Abdulrahman Aliagan, Abuja
In a surprising move, the Emir of Kano, Sanusi Lamodo Sanusi, has come out in strong defense of the Dangote Refinery project, refuting criticisms that have been leveled against it.
Speaking in Kano, the respected royal figure addressed the controversial issues surrounding the refinery, owned by Africa’s richest man, Aliko Dangote.
“I honestly do not think it a good idea for me to make comments on these issues but some comments surprise me, and I just have to say something,” the Emir began.
He directly addressed the claim that Dangote was able to purchase dollars from the Central Bank of Nigeria (CBN) at a subsidized rate. “Aliko Dangote did not fix the price at which the CBN sold dollars. Everyone who got dollars from the CBN got dollars at the same rate if they bought on the same day. So we cannot blame him for buying dollars at a rate the CBN itself decided to sell to its customers,” the Emir clarified.
Going further, the Emir posed a critical question: “If the Central Bank were to prioritize a single enterprise for forex allocation, how many enterprises can we think of that are worthier than a refinery like this one?”
He pointed to the massive drain on Nigeria’s foreign exchange from the importation of petroleum products, as well as the huge losses incurred due to subsidy theft.
“By the way, how much forex did Dangote buy from the CBN at this subsidized rate? How much forex did NNPC take from the Federation account in the same year in the name of running and turning around its dead refineries? What are we benchmarking against?” the Emir asked.
The Emir made it clear that if he were the Central Bank Governor, he would have prioritized supporting the Dangote Refinery project given its potential impact on the economy.
“To my mind, giving dollars for the construction of a refinery is better than to rice importers and indeed almost every other enterprise apart from education and health, given the impact on the macro,” he stated.
Addressing the argument from the Nigerian National Petroleum Corporation Limited (NNPCL) about the risk of relying on a single refinery, the Emir dismissed it as “most laughable.”
He argued that a local refinery is far more secure than relying on imports, and accused the NNPC of profiting from the subsidy scam rather than fixing its own refineries.
The Emir concluded by urging Nigerians not to “kill” their heroes like Dangote out of “envy and pettiness,” but rather to strive to emulate and support such impactful investments in the country.