Former President, Olusegun Obasanjo has said that his predecessor, late Umaru Yar’adua was wrong to stop the sale of the Kaduna and Port Harcourt refineries to billionaire, Aliko Dangote.
Obasanjo also said that Yar’adua had sacrificed public interest for private individuals in cancelling the sale. The former President made the comments during an interview with Channels TV. Obasanjo said: “Eventually Aliko Dangote led a group that paid $750m for the privatisation of two of the refineries – 51 per cent privatisation – and my successor (Yar’Adua) came (in), he turned it down. In fact, he paid back the money because they (investors) had paid the money.”
“And I went to him; I said ‘look, do you know…? And he said well, he did it because of pressure. I said ‘pressure?’, so to you what matters is pressure, not what is in the best interest of Nigerians. I said, but you know it will not work. Then I said in 10 years, if you continue, you would have spent two times the amount that these people had paid and it still would not work. And that is what happened.”
“Today those two refineries, you can never make them work. And if we are going to sell them, we would be lucky to get $250m out of them because they have become a huge scrap. Now, why shouldn’t I explain that (in my book)?”
Dangote is currently constructing his own refinery in the Lekki Free Trade Zone in Lagos State. For more scintillating and juicy stories, follow the official Naijapals accounts On Twitter - @Naijapals and Facebook - www.facebook.com/naijapals
I have been reporting on latest news from Nigeria for almost 10 years now. I report on every possible news area I come across, but always ensure my reports are compiled with dignity and fact to uphold my personal values and duty as a journalist
Posted: at 30-07-2015 07:25 AM (9 years ago) | Addicted Hero
Activated at 30-07-2015 10:17 AM (9 years ago) (m)
Suddenly Obasanjo is the best president we've had.
It's a shame how this guy castigates other people's government but exonerates his own.
During Obasanjos government Nigeria was ranked 3rd most corrupt country inthe world.
This was a man that dedicated one whole port in Calabar to Dangote and conscripted the businesses of his competitors, IBETO so Dangote would be the sole producer of cement. It took another 5-6 yrs for Jonathan to reverse this.
OTTA farm as we know it today was a farm dedicated to ogun state during "Operation feed the nation" which Obasanjo commandered at the end of his tenure as military ruler.
Obasanjo sorry to say, if there is a chief thief, it's you and you shouldn't throw stones when you live in a glass house.
Posted: at 30-07-2015 10:17 AM (9 years ago) | Upcoming
fearlesspaul at 30-07-2015 01:21 PM (9 years ago) (m)
Quote from: Activated on 30-07-2015 10:17 AM
Suddenly Obasanjo is the best president we've had.
It's a shame how this guy castigates other people's government but exonerates his own.
During Obasanjos government Nigeria was ranked 3rd most corrupt country inthe world.
This was a man that dedicated one whole port in Calabar to Dangote and conscripted the businesses of his competitors, IBETO so Dangote would be the sole producer of cement. It took another 5-6 yrs for Jonathan to reverse this.
OTTA farm as we know it today was a farm dedicated to ogun state during "Operation feed the nation" which Obasanjo commandered at the end of his tenure as military ruler.
Obasanjo sorry to say, if there is a chief thief, it's you and you shouldn't throw stones when you live in a glass house.
well said because I remember a senator said that Obasanjo was their grandfather in corruption in responses to his allegation that all senators were corrupted.
Posted: at 30-07-2015 01:21 PM (9 years ago) | Upcoming
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