Skip to main content

Obasanjo set to sell Port Harcourt Refinery to self

May 14, 2007

Whomever buys the Port Harcourt Refinery of Nigeria will be holding it in trust for President Obasanjo who is set to retire in a few days to a private but highly lucrative lifestyle.

Sources told Saharareporters that all the bidders who have been granted the Right of First Refusal (ROFR) are working directly with President Obasanjo to hold the refinery in trust for him. The President is working with Aliko Dangote and Femi Otedola and some other companies said to be in cahoot with the president as he embarks on a last minute sale of more lucrative public enterprises to himself and some members of his "private investment club" that have been buying up Nigeria in the last four years.

googletag.cmd.push(function() { googletag.display('content1'); });

The President is also said to have secured for himself 4 choice oil blocks in the yet to be bidded oil blocks through the same controversial Right of First Refusal method.

The Port Harcourt Refinery is expected to be sold tomorrow Tuesday, if things goes as planned.

googletag.cmd.push(function() { googletag.display('content2'); });