Nigeria Made A Deadly Mistake By Putting All Its Eggs In One Basket Of Oil – Obasanjo

Ex-Nigeria President, Olusegun Obasanjo has come out to say that those benefiting from the lucrative business of fuel importation are going to make efforts to frustrate the Dangote Petroleum Refinery.

He recently had his say while speaking to the press, and Nigerians have been reacting.

According to him, the Dangote refinery is something that should naturally encourage both Nigerians and non-Nigerians, but those who are selling or supplying refined products for Nigeria now feel they will lose the lucrative opportunity if they allow it to happen.

Obasanjo added that he believes Nigeria made a very deadly mistake by putting all its eggs in one basket of oil.

His words, “Aliko’s investment in a refinery, if it goes well, should encourage both Nigerians and non-Nigerians to invest in Nigeria.

If those who are selling or supplying refined products for Nigeria feel that they will lose the lucrative opportunity, they will also make every effort to get him frustrated.”

On Nigeria, “I believe we made a very, very deadly mistake. We put all our eggs in one basket of oil. We even ignored gas. We were flaring gas, which is a very important commodity

We ignored agriculture, which should have been the centrepiece of our economic development.

When I was President, I invited Shell and I said, look, come and take equity participation and run our refineries for us. They refused. They said our refineries have not been well maintained.

We have brought amateurs rather than bringing professionals. They said there’s too much corruption with the way our refinery is run and maintained. And they didn’t want to get involved in such a mess.

There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back.”

WOW.