Trending video: Obasanjo reveals 4 reasons why Shell rejected managing Nigerian refineries

• Former President Olusegun Obasanjo revealed why his administration couldn't bring Shell Plc to manage Nigeria’s refineries
• The former president said Shell cited excessive corruption and amateur management as reasons for their refusal
• Obasanjo criticized the government’s repeated promises to repair the refineries, questioning how many times such assurances have been made

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Former President Olusegun Obasanjo revealed that during his tenure, his administration attempted to persuade Shell Plc to manage Nigeria’s refineries, but the company declined the offer.

In an interview with the Financial Times as shown in a video on X, Obasanjo, who served as president from 1999 to 2007, recounted his efforts to convince Shell to take over the refineries.

However, Shell rejected the proposal, citing excessive corruption within the sector as their primary concern, Daily Trust reported.

He said:

“When I was President, I approached Shell and proposed that they take an equity stake and manage our refineries. They declined, stating that our refineries were poorly maintained.“They commented that we had employed amateurs instead of professionals and criticized the high level of corruption in the management and upkeep of the refineries.

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"They expressed reluctance to become involved in such a problematic situation."

Obasanjo: FG yet to resolve issues affecting refineries

On the repeated assurances to repair the refineries, he questioned:

“How many times have we been promised this? And at what cost?“Those problems, as far as the government refineries are concerned, have never gone away. They have even increased. So if you have a problem like that and that problem is not removed then you aren’t going anywhere.”

See the video below:

ICPC says Nigeria witnessed N700bn bribery cases in 2023

In another report, Legit.ng reported that the Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Musa Aliyu, has discussed the current state of corruption in Nigeria.

He highlighted corruption as a major obstacle to Nigeria’s development, stating that it erodes public trust, undermines the rule of law, and hampers economic progress.

At an event organized by the Faculty of Law at Ahmadu Bello University, Aliyu, a Senior Advocate of Nigeria (SAN), emphasized that corruption is both a legal and social issue requiring a multifaceted approach.

Source: Legit.ng