Bode George urges Dangote to include host communities as shareholders in refinery project

Former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George, has called on Alhaji Aliko Dangote, President of the Dangote Group, to ensure that members of the host communities of his refinery in the Ibeju-Lekki/Epe axis of Lagos State become shareholders.

George argues tat Dangote refinery host community, would prevent the mistakes made in the Niger Delta from being repeated and promote inclusivity.

In a statement on Monday in Lagos, George congratulated Dangote on his significant investment in the Lekki/Epe region through his refinery and petrochemical projects, describing him as a businessman and patriot who has elevated Nigeria’s image globally.

“I want to congratulate Alhaji Aliko Dangote. All Nigerians should be proud of him. But, let me advise him: What happened in the oil-rich Niger Delta should be avoided in Lagos,” George said.

He commended Dangote for providing scholarships to residents but urged him to go further by ensuring that the host communities benefit as shareholders in the refinery project.

According to George, this would foster a sense of ownership and inclusivity among the local population.

“The project is so massive and is eternal that the indigenes of the communities deserve more than employment and training,” George emphasized. He noted that equity holding in the company would help the local people feel that their inheritance had not been taken away without compensation.

George also highlighted potential environmental impacts, such as pollution and water degradation, which could affect the local fishing industry and the broader ecosystem.

He argued that Dangote refinery host community being part ownership in the refinery is the only way to mitigate these long-term impacts and compensate the communities for their losses.

“Being a life-time business, pollution may soon start and the communities stand to lose from the degradation which the operations of the refinery would impact on the people of the communities in years ahead,” George said.

He suggested a fractional equity holding of 0.1% for both Epe and Ibeju-Lekki, with the possibility of increasing this share depending on the generosity of Dangote and his team.

“This fractional percentage in terms of equity holding would be beneficial to the communities, whose commercial activities would be affected by the operations of the refinery,” George concluded.

George’s advice underscores the importance of integrating host communities into the business framework to ensure sustainable development and prevent future conflicts.