Prof. Itse Sagay (SAN), a renowned constitutional lawyer on Monday says the constitution allows the federal government to take over the Dangote Refinery and then sell the products at the prices Nigerians can afford.

Speaking in an exclusive chat with TheScrutinyNG on Monday, Sagay, former chairman of the Presidential Advisory Committee Against Corruption (PACAC) added that the FG can pay a compensation to the owner, Aliko Dangote and then returned the refinery back to him after the other local refineries have started production.

Dangote has been having a running battle with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over the quality of petroleum products at his refinery, as the CEO, Farouk Ahmed, claimed that petroleum products from his refinery are substandard.

In his reaction, the business tycoon made an offer to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited.

Speaking with our correspondent, Sagay said Dangote does not mean well for the suffering masses but only concerned about making maximum profits from the refinery.

“Honestly, we are going through a sort of emergency right now. Under section 305, the Nigerian government has power to take over the refinery and pay appropriate compensation to the owner”.

“The way I see Dangote and the way he operates, he is waiting to maximise the price. I also think the reason Dangote is not happy is because the price has not risen up to N1,000 per litre. He was waiting for that to happen but it is not happening”.

“They were still importing and keeping the price down to N600 per litre that is why Dangote is frustrated. It is not that he loves Nigerians and want to help us or anything. He wants the maximum price. That is the cause of this conflict between him and the federal government”.

“Of course, he also wants monopoly because if they don’t import now and there is no other local source of production, he will total monopoly and can dictate the price. That is really frightening”.

“We are in a state of emergency. The cost of living in Nigeria now is too high. Anything that can be done to bring down the cost of living will calm the mood of the people. The suffering is just too much”.

“So, it is within the powers of the federal government to take over the refinery. They can then sell at the price that Nigerians can afford and then pay him compensation. They can then hand it over back to him when other refineries in Nigeria, like the one in Port Harcourt, Warri and Kaduna have started producing. He can then continue as a private operator and sell at any price he deems fit”.



https://thescrutinyng.com/2024/07/22/constitution-empowers-fg-to-take-over-dangote-refinery-pay-him-compensation-sagay/

When people who have never in their miserable lives run a successful business talk, you don't need anyone to tell you. Imagine the nonsense this supposed old man is saying.

Where was your constitution when Dangote was running up and down looking for where to get the money to build his refinery?

you elect criminal and rogues and you expect good life

E go make sense if FG fit take over and run am better. No be say make dem just dey watch while we dey import fuel like say na dem dey produce am. Time to leverage on our own resources, abeg!

I agree with the man. Dsngote doesn't mean well for poor Nigerians

Chinkoalhaji34:
E go make sense if FG fit take over and run am better. No be say make dem just dey watch while we dey import fuel like say na dem dey produce am. Time to leverage on our own resources, abeg!

....More like Yoruba wants to take over Dangote Refinery


Hihihi ..

Chinkoalhaji34:
E go make sense if FG fit take over and run am better. No be say make dem just dey watch while we dey import fuel like say na dem dey produce am. Time to leverage on our own resources, abeg!

What happen to the four refinery FG have already in the country...?

Dangote is also preventing them from.working..?

SmartPolician:
When people who have never in their miserable lives run a successful business talk, you don't need anyone to tell you. Imagine the nonsense this supposed old man is saying.

Where was your constitution when Dangote was running up and down looking for where to get the money to build his refinery?

There's a grand conspiracy to disposess Dangote of his hard work.Billions of dollars have been sunk on government owned refineries to no avail.Now this sagay slowpoke is talking of government taking over an individual effort so they can render it comatose and continue there pillaging of the commonwealth.Nigeria is overdue for war and blood shed

Chinkoalhaji34:
E go make sense if FG fit take over and run am better. No be say make dem just dey watch while we dey import fuel like say na dem dey produce am. Time to leverage on our own resources, abeg!

Bot…

SmartPolician:
When people who have never in their miserable lives run a successful business talk, you don't need anyone to tell you. Imagine the nonsense this supposed old man is saying.

Where was your constitution when Dangote was running up and down looking for where to get the money to build his refinery?

List the life achievements of your biological father here, let us compare it with that of our erudite professor of Law

SmartPolician:
When people who have never in their miserable lives run a successful business talk, you don't need anyone to tell you. Imagine the nonsense this supposed old man is saying.

Where was your constitution when Dangote was running up and down looking for where to get the money to build his refinery?

You are talking like a devil. So, because he was running helter skelta, it then means he should kill Nigerians because he wants to be the biggest billionaire in the world? You think government has no responsibility to the welfare of the people?

I can't pity that man anyway.

specialmati:
you elect criminal and rogues and you expect good life

Ronu studios?....hehehehehehehe!!!!

FG taking over the refinery will be very bad for the image of the country. It is definitely not the way forward. Dangote and FG must sit down and come to a reasonable agreement that will protect the interest of Nigerians and that of Dangote. I still believe they can still find a middle ground. That refinery is very critical to the economic outlook of Nigeria and it is in the interest of all concerned that they all work together.

Did I just read what I read from sagay?

Didn't APC tell us dangote refinery was the answer to the energy crises bedevilling the nation.

When dangote continued to import crude and some of us cried out that the same forex they claimed dangote refinery would save is still being spent, robotic waste of semen Reno small goat jumped in to tag us enemies and as usual rendered his unsolicited jaundiced defense. I hope he would come out now to insult his father Sagay for the above opinion.

This senile old bat has been recruited to yarn opata again

EngrKemp:

....More like Yoruba wants to take over Dangote Refinery


Hihihi ..

|
How does this even read to u?

Sagay isnt even Yoruba

That u only see things via the tribal lens tells us everything about u

You need a superior education at this point

FG taking over Dangote refinery and paying him compensation until FG gets it's own refineries to work and then return it back to him??

They should stop giving this man the microphone henceforth!
What message is he sending to intending investors?

So arm twisting is the only way to solve their differences?

Dafuq!

Chinkoalhaji34:
E go make sense if FG fit take over and run am better. No be say make dem just dey watch while we dey import fuel like say na dem dey produce am. Time to leverage on our own resources, abeg!

And dangote refinery is your own resources bah?

seunmsg:
FG taking over the refinery will be very bad for the image of the country. It is definitely not the way forward. Dangote and FG must sit down and come to a reasonable agreement that will protect the interest of Nigerians and that of Dangote. I still believe they can still find a middle ground. That refinery is very critical to the economic outlook of Nigeria and it is in the interest of all concerned that they all work together.

That will spell doom for Nigeria. Already foreign investors have been saying away from investing in Nigeria recently despite the media campaigns aimed at drawing investment into Lagos.

So imagine if eventually FG takes over this refinery? That will be the end of FI for the foreseeable future.

This refinery is the largest of this kind in the world , and was featured on CNN and other media across the world so for this to happen I can bet you that the next the Nigerian president will.resign because there will be zero FI coming in

bennybuhari:
I agree with the man. Dsngote doesn't mean well for poor Nigerians

How about getting our own refineries to work or even building new ones?

Do you mean that since the return to democracy in 1999, the money politicians have stolen without consequences is not enough to build ten new refineries?

Why did tinubu log into building a very costly coastal road at the expense of the much needed new refineries that impact lives of Nigerians on a daily?

frankyychiji:
FG taking over Dangote refinery and paying him compensation until FG gets it's own refineries to work and then return it back to him??

They should stop giving this man the microphone henceforth!

Dafuq!

Honourable, off your mic

maiunguwar:
There's a grand conspiracy to disposess Dangote of his hard work.Billions of dollars have been sunk on government owned refineries to no avail.Now this sagay slowpoke is talking of government taking over an individual effort so they can render it comatose and continue there pillaging of the commonwealth.Nigeria is overdue for war and blood shed

We can go our separate ways without war and bloodshed. It doesn't have to be so.

Nigeria is ripe for unbundling.

naija4life247:


List the life achievements of your biological father here, let us compare it with that of our erudite professor of Law

Add your father too in the contest. 🙄

God will punish him. Hod won't shame Dangote.

SmartPolician:
When people who have never in their miserable lives run a successful business talk, you don't need anyone to tell you. Imagine the nonsense this supposed old man is saying.

Where was your constitution when Dangote was running up and down looking for where to get the money to build his refinery?

CyrusVI:
|
How does this even read to u?

Sagay isnt even Yoruba

That u only see things via the tribal lens tells us everything about u

You need a superior education at this point

Same way you ret. ards label everyone after Ore as Igbo. Take your L and move on.

Someone invested his money into a venture and you expect him not to think of making profits?

Why can’t Mr. Sagay invest his money into garri production and sell at 300 naira a paint to help the masses.

The government put the masses in a mess and you expect a business man to come clear the mess he is also experiencing as well?

If the government can pay subsidy on imported fuel, why not allow Dangote refinery refine crude and pay him that subsidy instead. At least the money remains in the country.

SmartPolician:
When people who have never in their miserable lives run a successful business talk, you don't need anyone to tell you. Imagine the nonsense this supposed old man is saying.

Where was your constitution when Dangote was running up and down looking for where to get the money to build his refinery?

You took that right out of my mind.

naija4life247:



Honourable, off your mic

Yes, they should stop giving the microphone to that old man henceforth.

I agree..the Coastal road is a misplaced priority by the govt

frankyychiji:
How about getting our own refineries to work or even building new ones?

Do you mean that since the return to democracy in 1999, the money politicians have stolen without consequences is not enough to build ten new refineries?

Why did tinubu log into building a very costly coastal road at the expense of the much needed new refineries that impact lives of Nigerians on a daily?

These people have been looking for who to rob to keep our sharing structure running. First the dead. Then dormant accounts, then retirees via pension, then loans choked, then Binance kidnap, then google data breach wuruwuru fine, now na Dangote refinery that want to hijack and run abi na rundown?
These people deserve more than stones walahi.

“The way I see Dangote and the way he operates, he is waiting to maximise the price. I also think the reason Dangote is not happy is because the price has not risen up to N1,000 per litre. He was waiting for that to happen but it is not happening”.

Whoever made this comment needs deep psychiatric evaluation. As long as prices have been deregulated and Dangote is not forcing anyone to buy, he is not doing any wrong.
Their eyes are on that refinery. This is the result of unchecked witchcraft policy and structure.

If only Dangote sealed the deal for crude supply, it will then be a matter of contract between him and the would be crude supplier. Not sealing this deal before building the refinery is now a great exposure for the Dangote refinery. But government must step in and save the situation. This magnificent refinery must not lay to waste