Africa’s richest man, Aliko Dangote, says powerful interests benefiting from Nigeria’s decades-old oil import regime are still working against the success of his $20 billion refinery.
Speaking at an investor forum in Lagos on Friday, the President of Dangote Group revealed that despite recent progress, the 650,000 barrels-per-day Dangote Refinery continues to face serious resistance from entrenched groups he described as “cabals.”
According to a report by international news outlet Semafor, Dangote said these groups have profited immensely from the country’s petroleum subsidy system and are doing everything in their power to frustrate the operations of his refinery, which is located in the Lekki Free Trade Zone, Lagos.
“For a very, very long time, some people have made huge money from importing petroleum products under the subsidy regime,” Dangote was quoted as saying. “They don’t want that to end, and they are doing everything to stop us.”
He further alleged that these same forces are behind opposition to President Bola Tinubu’s removal of petrol subsidies, viewing his refinery’s success as a direct threat to their interests.
Despite the hurdles, Dangote expressed unwavering determination, vowing to overcome the sabotage. “We’re fighting, and the fight is not yet finished,” he said. “But I have been fighting all my life, and I am 100 per cent sure I will win at the end of the day.”
This isn’t the first time the billionaire has raised the alarm about sabotage. Since last year, he has accused both domestic and international actors—including some international oil companies—of deliberately frustrating his refinery by withholding crude oil supplies, despite a legal domestic crude supply obligation.
He also alleged that Nigeria’s downstream regulator, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), has continued to grant licences for the importation of substandard fuel, thereby undermining efforts to clean up Nigeria’s energy sector.
Dangote’s comments come amid federal government plans to boost its strategic petroleum reserves, anticipating future global market shocks.
Despite the headwinds, Dangote maintains that his refinery—which is Africa’s largest—will achieve full operational capacity and help reposition Nigeria as a net exporter of refined petroleum products.
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