Former President Olusegun Obasanjo yesterday expressed regrets over the sale of two of the nation's oil refineries, which was concluded before he exited office in 2007, but was reversed by his successor, the late President Umaru Musa Yar'Adua because he succumbed to pressure.
Obasanjo said this in an interview on Channels Television yesterday. The former president said business mogul, Aliko Dangote, leading a consortium of investors, had paid $750 million for two of the refineries, as the federal government considered it difficult managing the plants at the time. He explained that instead of Yar'Adua consolidating on the sale so that the investors could revamp the refineries, his successor succumbed to pressure and reversed their sale.
...