Former Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, has expressed frustration over what he describes as “vested interests” working against the full operational capacity of the Dangote Refinery, labeling the situation a major setback for Nigeria’s economic progress.
Sanusi, speaking during the launch of the book, “Public Policy and Agents Interests: Perspectives from the Emerging World,” co-authored by former Minister of Finance, Dr. Shamsudeen Usman, lamented that despite the potential of the $20 billion refinery to revolutionize the country’s petroleum industry, unseen forces are hindering its impact.
He noted that these vested interests, entrenched in the country’s oil and gas sector, are deliberately undermining efforts to achieve local refining and reduce the nation’s dependence on imported petroleum products.
He argued that rather than dancing to vested interests, Nigeria was supposed to be maximising the benefits of ending fuel importation with the establishment of the refinery.
“Instead of grabbing this opportunity, we are frustrating it. This is due to vested interests…People get into office and what they think is how much they can get from the state,” he said.
