Pastor Enoch Adeboye, General Overseer of the Redeemed Christian Church of God (RCCG), has expressed concerns over the influence of entrenched interests, often referred to as ‘oil cabals,’ in Nigeria’s petroleum sector. He suggests that these groups have historically undermined government-owned refineries and are now attempting to obstruct the operations of the Dangote Refinery.
The term ‘oil cabals’ refers to powerful groups or individuals who have benefited from Nigeria’s reliance on imported refined petroleum products. Their influence has been linked to the persistent dysfunction of state-owned refineries, leading to a dependence on imports despite Nigeria’s status as a major crude oil producer……..CONTINUE READING
The Dangote Refinery, a $20 billion project with a capacity of 650,000 barrels per day, was inaugurated in May 2024. It aims to meet Nigeria’s domestic fuel needs and reduce import dependence. However, the refinery has faced challenges, including allegations of monopolistic practices and disputes over crude oil supply agreements.
Former President Olusegun Obasanjo has also highlighted the challenges posed by these cabals, noting that they may attempt to frustrate the Dangote Refinery to protect their interests.
Despite these challenges, the Dangote Refinery has commenced production of diesel and aviation fuel, with plans to produce petrol to meet domestic demand. The refinery’s success is seen as a potential turning point in Nigeria’s quest for energy self-sufficiency.
Pastor Adeboye’s comments underscore the ongoing struggle between reformist initiatives and entrenched interests within Nigeria’s oil sector. The outcome of this struggle will significantly impact the nation’s economic stability and energy independence.
