Why Dangote Refinery Project Failed In Ogun State – Amosun

Posted by Nwa Diokpa Latest Headlines, News Across Nigeria Thursday, May 25th, 2023

(AFRICAN EXAMINER) – Former Governor of Ogun State, Senator Ibikunle Amosun says that the allegation that he was responsible for the relocation of Dangote refinery from Ogun to Lagos was a lie.
The African Examiner recalls that on Tuesday, the state governor, Prince Dapo Abiodun following the commissioning of the mega refinery in Lagos had claimed that the facility was originally meant to be located at the Olokola Free Trade Zone in Ogun state, however, it was frustrated by Amosun, the former state governor.

Reacting to this allegation, Amosun in a statement by his media aide, Bola Adeyemi, on Wednesday, May 24, 2023, said, “It is most uncharitable for anyone to churn out lies that Ogun State was in a position to unilaterally frustrate the project or was responsible for the logjam.

He stated that the free trade zone where the refinery project was meant to be sited was not solely owned by Ogun State.

“The Federal Government of Nigeria owned the majority 51%, Ondo State Government (14.5%), Ogun State Government (14.5%), and strategic core investors (20%). Alhaji Aliko Dangote, according to the information available to us when we took office, subsequently bought, and took over the 20% equity of the core investors. Ogun State was a minority equity stakeholder only, without proprietary strength and capacity to take sole decisions on the Joint Venture enterprise,” Amosun explained.

According to him, his government could not have unilaterally made the decision that prompted the Chairman, and CEO of the Dangote Group, Aliko Dangote to relocate the project to Lagos because the Olokola Free Trade Zone was a joint venture.

Amosun added: “Dangote took business decisions of his own in accordance with the goals of his business strategy and risk assessment.”

“For the benefit of the good people of Ogun State, Nigerians and posterity, we challenge him, particularly as he was then the chairman appointed to oversee and ensure that the project was sited in Olokola Free Trade Zone, to disclose with facts, where he or the administration was remiss, and which might have led to the project being moved away from Ogun State.”