Former presidential candidate of the Labour Party in the 2023 elections, Peter Obi, has voiced strong support for the Dangote Refinery, urging the federal government to back the project.

In a series of tweets on Tuesday, Obi emphasized that the refinery is an important economic issue rather than a political one.

Obi wrote, “Dangote Refinery Should Be Fully Supported, Not Vilified. The recent conflicts between Dangote Industries and some government agencies are deeply troubling. This issue transcends political affiliations and personal grievances. It is fundamentally about Nigeria’s economy, future, and the well-being of its citizens.”

He added, “Given Alhaji Dangote’s significant contributions to Nigeria, these disputes must be resolved swiftly. Government agencies should be directed to offer the necessary support for the seamless launch and operation of the Dangote Refinery and its associated enterprises.”

Obi highlighted the economic benefits of the refinery, noting, “The refinery has the potential to generate approximately $21 billion in annual revenue and create over 100,000 jobs, with numerous additional positive impacts on the economy.”

He stressed, “Its strategic importance in addressing Nigeria’s fuel crisis, boosting foreign exchange earnings, and fostering economic growth cannot be overstated.”

He continued, “Alhaji Dangote is not just a businessman; he is a national and African brand symbolizing patriotism, commitment, and impactful entrepreneurship.” Obi praised Dangote’s efforts, saying, “Despite operating in a challenging business environment, he has established a remarkable industrial hub in Nigeria, encompassing over 15 sectors, including cement, sugar, salt, fertilizer, infrastructure, tomatoes, automotive, energy, petrochemicals, rice, poly sacks, real estate, mining, logistics, and maritime.”

Obi warned against the dangers of failing to support such projects: “With economic indicators like unemployment, inflation, forex scarcity, and debt worsening, every sensible and patriotic government should regard enterprises like Dangote Industries as national treasures, meriting robust support and protection.”

He concluded, “In the interest of Nigeria and its citizens, as well as Africans at large, I urge the Federal Government and its agencies to provide Dangote Industries, especially the refinery, with all necessary support. The success of Dangote is intrinsically linked to the success of Nigeria and Africa; conversely, its failure would be a significant setback for both Nigeria and the continent.”

Obi’s support for the Dangote Refinery comes amid reports of conflicts between Aliko Dangote and various government authorities. The refinery is expected to begin production of Premium Motor Spirit (petrol) by August.

On Monday, Obi also criticized Nigeria’s economic performance, noting the country’s GDP growth was higher in the early years of democracy but has since declined. “When Nigeria returned to democratic governance in 1999, it maintained an average GDP growth of about 6.72% for 16 years from 1999-2014,” he said.

He added, “However, this growth was not sustained, with GDP growth collapsing to 2.79% in 2015 and the economy slipping into recession in 2016.” Obi pointed out the decline in Nigeria’s economic standing, stating, “In 2014, Nigeria had the biggest economy in Africa with a GDP of $568.5 billion and a GDP Per Capita of about $3,200. By 2023, Nigeria had fallen to the 4th largest economy in Africa, with a GDP of $375 billion and a per capita of $1700. In 2024, the GDP further declined to an estimated $253 billion and per capita dropped to $1087.”

Obi expressed concern over the current economic conditions, saying, “Today, poverty is pervasive and on the increase. Unemployment is rising. Food inflation has skyrocketed to over 43%. Foreign and local investors are losing faith in the future growth of our economy and are leaving in large numbers. Businesses are shutting down.”

He called for urgent measures to address the economic challenges and criticized current leadership. “Urgent actions need to be taken to salvage the nation from further economic collapse and move it from consumption to production,” Obi said. “However, instead of focusing on these challenges and finding ways to create a sustainable economy, our leaders are more concerned with their personal luxuries and blaming others.”

Obi concluded, “In the face of all these challenges, we leaders should commit to inclusive and sustainable growth to end the hardship that has continued to burden our fellow Nigerians. Only through that can we achieve a peaceful and secure society.”