LAGOS, Nigeria – Olusegun Bamgbose, National Coordinator, Concerned Advocates for Good Governance, CAGG, has made some revelations about the recent memorandum of Understanding, MoU, the Nigerian Government signed with the government of Niger Republic.
The Buhari government had during the week through the Ministry of Petroleum Resources, reportedly signed the MoU with Niger Republic for petroleum products importation.
According to a statement released by the Ministry, SORAZ Refinery in Zinder, Niger Republic, has an installed refining capacity of 20,000 barrels per day.
Bamgbose claimed, however, that the truth and the reality is that, the MoU was between Nigeria and China.
In a statement on Saturday, the senior lawyer and 2023 presidential hopeful, said that the Société de Raffinage de Zinder, SORAZ Refinery is owned by China.
“In June 2008, China National Petroleum Corporation, CNPC, and Niger Republic signed integrated upstream and downstream deals in Agadem block which resulted in the building of SORAZ refinery.
“The major shareholder in the refinery is China National Petroleum Corporation with 60% shareholding and Niger Republic has 40% shareholding.
“In essence China facilitated the MoU because of their interest. This is certainly one of the hidden conditions given to Nigeria in order to secure Chinese loans.
“One can equally remember that FEC in September okayed $1.96bn for proposed rail contract from Kano to Niger Republic. We secured the loan from China and it’s also the Chinese company that will be in charge.
“This government should stop fooling Nigerians. Much has it will have economic benefits, but Nigerians should not forget that this is neocolonialism cropping up.
“The fear is that China may soon take over the machinery of government in Nigeria. This latest MoU may very clearly be a big obstacle to Dangote Refinery. Nigerians have not been told about the duration of the MoU signed.
“China has bought over the Executive and the National Assembly. This is very dangerous. It’s most likely that China may equally play a leading role in who becomes the President in 2023.
“Except something is done promptly, Nigeria may one day be like Hong Kong to China,” he said.