Prof. Itse Sagay (SAN), a renowned constitutional lawyer on Monday says the constitution allows the federal government to take over the Dangote Refinery and then sell the products at the prices Nigerians can afford.
Speaking in an exclusive chat with TheScrutinyNG on Monday, Sagay, former chairman of the Presidential Advisory Committee Against Corruption (PACAC) added that the FG can pay a compensation to the owner, Aliko Dangote and then returned the refinery back to him after the other local refineries have started production.
Dangote has been having a running battle with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the quality of petroleum products at his refinery, as the CEO, Farouk Ahmed, claimed that petroleum products from his refinery are substandard.
In his reaction, the business tycoon made an offer to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited.
Speaking with our correspondent, Sagay said Dangote does not mean well for the suffering masses but only concerned about making maximum profits from the refinery.
“Honestly, we are going through a sort of emergency right now. Under section 305, the Nigerian government has power to take over the refinery and pay appropriate compensation to the owner”.
“The way I see Dangote and the way he operates, he is waiting to maximise the price. I also think the reason Dangote is not happy is because the price has not risen up to N1,000 per litre. He was waiting for that to happen but it is not happening”.
“They were still importing and keeping the price down to N600 per litre that is why Dangote is frustrated. It is not that he loves Nigerians and want to help us or anything. He wants the maximum price. That is the cause of this conflict between him and the federal government”.
“Of course, he also wants monopoly because if they don’t import now and there is no other local source of production, he will total monopoly and can dictate the price. That is really frightening”.
“We are in a state of emergency. The cost of living in Nigeria now is too high. Anything that can be done to bring down the cost of living will calm the mood of the people. The suffering is just too much”.
“So, it is within the powers of the federal government to take over the refinery. They can then sell at the price that Nigerians can afford and then pay him compensation. They can then hand it over back to him when other refineries in Nigeria, like the one in Port Harcourt, Warri and Kaduna have started producing. He can then continue as a private operator and sell at any price he deems fit”.
