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Amosun explains why Dangote refinery project failed in Ogun, says Abiodun lied

Amosun says the Olokola Free Trade Zone where the refinery project was meant to be sited in Ogun State is not solely owned by the state government.

The governor of Ogun State Dapo Abiodun and his predecessor, Ibikunle Amosun. [Premium Times]

The state governor, Prince Dapo Abiodun following the commissioning of the mega refinery in Lagos had alleged that the facility was originally meant to be located at the Olokola Free Trade Zone in Ogun state, but Amosun frustrated the effort to situate it in the state.

In the statement on Tuesday, May 23, 2023, Abiodun, who was the Chairman, Olokola Free Trade Zone, during Amosun’s administration said the former governor should be blamed for the relocation of the mega refinery from Ogun to Lagos.

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Reacting to the allegation, Amosun in a statement by his media aide, Bola Adeyemi, on Wednesday, May 24, 2023, said, “It is most uncharitable for anyone to churn out lies that Ogun State was in a position to unilaterally frustrate the project or was responsible for the logjam.

He explained that the free trade zone where the refinery project was meant to be sited was not solely owned by Ogun State.

The Federal Government of Nigeria owned the majority 51%, Ondo State Government (14.5%), Ogun State Government (14.5%), and strategic core investors (20%). Alhaji Aliko Dangote, according to the information available to us when we took office, subsequently bought, and took over the 20% equity of the core investors. Ogun State was a minority equity stakeholder only, without proprietary strength and capacity to take sole decisions on the Joint Venture enterprise,” Amosun explained.

He added that his government could not have unilaterally made the decision that prompted the Chairman, and CEO of the Dangote Group, Aliko Dangote to relocate the project to Lagos because the Olokola Free Trade Zone was a joint venture.

According to him, “Dangote took business decisions of his own in accordance with the goals of his business strategy and risk assessment.”

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Amosun said that it was interesting to read that the present Ogun State governor held him responsible for allegedly scuttling the Olokola project.

For the benefit of the good people of Ogun State, Nigerians and posterity, we challenge him, particularly as he was then the chairman appointed to oversee and ensure that the project was sited in Olokola Free Trade Zone, to disclose with facts, where he or the administration was remiss, and which might have led to the project being moved away from Ogun State”, the ex-governor said.

Amosun maintained that his records as a former governor in the state were incontrovertible, adding that his administration opened the state to genuine entrepreneurs and investors.

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