Dangote Refinery Dispute: Olowu of Kuta Urges Amicable Resolution

In a statement made public on Monday, Oba Adekunle Oyelude, the Olowu of Kuta in Osun State, Nigeria, expressed deep concern over the ongoing disagreement between the Federal Government and the management of Dangote Refinery. Oyelude stressed the importance of finding an amicable resolution to this dispute to avoid sending the wrong signal to prospective investors.

The royal father acknowledged that the Nigerian government has made great progress in becoming the highest private petroleum exporter in Africa and urged President Bola Tinubu to ensure that this achievement is not derailed by the current stalemate. Oyelude emphasized the need for the government to engage in policies that encourage foreign investment and create job opportunities for Nigerian youths.

On his part, Oba Oyelude implored President and Chief Executive of Dangote Group, Alhaji Aliko Dangote, to be more open to further dialogue with the government through the Nigerian Mainstream and Downstream Petroleum Regulatory Authority (NMDPRA) in order to iron out the differences and ensure the success of the Dangote refinery project.

The Olowu’s statement also touched on the issue of economic dominance, stating that Dangote’s multi-sectoral investments, such as cement, sugar, and salt, had allegedly led to his name becoming synonymous with a monopoly of the nation’s economy.

Oyelude emphasized the importance of national interest, advising Dangote to review his investments by complying with the demands of the government, if only for the sake of national interest. He added that it is economically nonsensical for a refined investor like Dangote to be operating below his investment capacity level.

It is hoped that this call to dialogue will pave the way for a peaceful resolution to the Dangote Refinery dispute, allowing Nigeria to maintain its position as a major player in the African oil and gas industry.