Peter Obi says we should fully support the Dangote Refinery rather than demonize it.

Peter Obi, a politician who previously ran for president in the Labour Party in the 2023 presidential election, has endorsed the Dangote Refinery project and advised the federal government to encourage rather than oppose it.

Tuesday, Obi stated that the Dangote refinery is solely an economic matter and not a political one in a sequence of tweets posted on his verified X profile.

“Dangote Refinery Should Be Fully Supported, Not Vilified,” the author stated.

“It is really concerning that Dangote Industries and several government agencies have recently clashed. Personal grudges and political connections are not relevant to this subject. The economy, future, and welfare of Nigeria’s people are at the center of it all.

“These disputes need to be settled quickly, especially considering Alhaji Dangote’s substantial contributions to Nigeria.” It is imperative that government institutions provide the requisite assistance to ensure the smooth establishment and functioning of the Dangote Refinery and its affiliated businesses.

“The refinery has the potential to produce over 100,000 jobs, about $21 billion in revenue annually, and many other beneficial effects on the economy.”

It is crucial from a strategic standpoint to solve Nigeria’s fuel crisis, increase foreign exchange revenues, and promote economic growth. Given its critical role in our country’s wellbeing, the refinery is too important to fail and shouldn’t be hampered.

It is imperative that the Federal Government and its agencies acknowledge the importance of Dangote’s contributions. Alhaji Dangote is more than just a successful businessman; he is a national and African icon of dedication, patriotism, and significant enterprise.

In spite of the difficult business climate in which he operates, he has built an impressive industrial center in Nigeria that spans more than fifteen industries, including real estate, mining, transportation, rice, rice, petrochemicals, infrastructure, tomatoes, sugar, salt, and fertilizer.

“Despite all the challenges, Alhaji Dangote’s unwavering commitment to Nigeria’s industrialization, job creation, and economic growth deserves our full support and protection.”

Given the current state of economic indicators, which include rising unemployment, inflation, currency scarcity, and debt, any prudent and patriotic government would view companies such as Dangote Industries as national assets deserving of strong backing and defense.

“I call on the Federal Government and its agencies to give Dangote Industries, particularly the refinery, all the support it needs, in the best interests of Nigeria and its people as well as all Africans.”

“Dangote’s success is inextricably linked to the prosperity of Nigeria and Africa; on the other hand, its failure would be a major setback for both countries.”

His position is being made at a time when Nigeria anticipates that the refinery will begin producing gasoline in August, and Aliko Dangote is now dealing with a number of issues with local crude oil producers and government agencies.

On Monday, Obi had demanded that the nation’s current economic problem be resolved quickly.

He emphasized the differences in Nigeria’s economic performance between the country’s early post-revolutionary years and its current situation.

“Nigeria maintained an average GDP growth of about 6.72% for 16 years from 1999-2014, when it returned to democratic governance in 1999,” said Obi.

He did, however, note that this rise was not maintained, as the GDP shrank to 2.79% in 2015 and the country entered a recession the following year.

“In 2014, Nigeria had the largest economy in Africa with a Gross Domestic Product of $568.5 billion and a GDP Per Capita of approximately $3,200, just before the start of a new administration a year later,” he stated.

On the other hand, he pointed out that, with a GDP of $375 billion and a per capita of $1700, Nigeria had dropped to the fourth rank of all African economies by 2023.

As a result, things became worse in 2024, when the GDP fell to an expected $253 billion and the per capita fell to $1087.

This is based on information from StatiSense, an AI data provider that specializes in bank statement review, financial report analysis, and AI chatbot services.

The former governor then voiced concern over the current situation, stating, “Poverty is widespread and growing today.” The rate of unemployment is growing. The increase in food prices has reached above 43%. Both local and foreign investors are fleeing in significant numbers as they lose faith in the potential growth of our economy. Companies are closing their doors.

Then, criticizing the current government, he demanded immediate action to stop further economic collapse and shift the economy from consumption to production.

Obi stated, “The country needs to shift from consumption to production and take immediate action to prevent further economic collapse.”

“However, our leaders are more concerned with funding their personal luxury and luxuries while placing blame on others who are only dedicated to solving the country’s problems, rather than worrying ourselves with all these challenges threatening our collective existence and finding ways to recreate an inclusive and sustainable economy, pull millions of people out of poverty, and return our nearly 20 million out-of-school children to schools.

“We, as leaders, must pledge to achieve inclusive and sustainable growth in the face of these obstacles in order to alleviate the suffering that continues to befall our fellow Nigerians. That is the only way we can create a society that is safe and tranquil.