Indigenous Whiz Businessman Assists in the Upgrade of Nigeria’s Oil and Power Sectors

Dangote Exploration Company (DEC), a subsidiary of Dangote Group, has offered the Nigerian Federal Government a $30 million wager on the multi-billion dollar development of a 300,000-barrel per day petroleum refinery and a 5000-megawatt power station in consideration for Rights of First Refusal (ROFR) over two oil blocks in the 2007 licensing round. The company (DEC) has at this point been granted the ROFR over Oil Prospecting License (OPL) 2007 and second ROFR over OPL 2001.
In all, over nine companies, indigenous and foreign have been granted Oil Prospecting license in the 2007 Licensing round. The question, which many ask is; why is the present administration determined to give out these oil blocks just before the handing over to the next administration? The present President Olusegun Obasanjo led administration has just about one month before handing over to the next, come May 29th. Could it be that there is much to gain in this by the present administration? Or is this just a kind and selfless act intended for the good of this great country Nigeria?