During an interview with Channels Television, Prof. Ken Ife, an Economist, stated that Dangote gave $650 million to buy two of Nigeria’s refineries, but Yaradua returned his money. He added that the position at which the refineries are wouldn’t have been so because Dangote would have improved it.
According to him, “The biggest challenge we have now is why we are not producing PMS and, of course, the other products. Why are we not producing them? We have four refineries under the management of NNPC, and they are not working. Very good. There are issues, and they need billions and billions to get them back into life, but is there no alternative? There was an alternative where Dangote gave 650 million dollars to buy two of them and then Yaradua came in and returned the money to him, and I think that is a big regret that we didn’t because we would never have been in this position if Dangote was allowed to run those two refineries.”
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