Aliko Dangote, President of the Dangote Group, has revealed that ‘cabal’ in Nigeria’s oil and gas sector are still working behind the scenes to sabotage the progress of his $20 billion refinery project in Lekki, Lagos.
Speaking at an investor forum in Lagos on May 2, Dangote explained that people who previously profited heavily from government-subsidized fuel imports are not pleased with the refinery’s success.
According to international news outlet “Semafor”, the billionaire said these groups have even supported opposition to the removal of fuel subsidies by the current administration and are trying to prevent the refinery from operating smoothly.
He said, “For a very, very long time, those that have made a lot of money from government-subsidised oil imports into Nigeria were the ones trying to sabotage the $20 billion worth of refinery situated in Lekki, Lagos.”
He added that “those groups have funded resistance to the Bola Tinubu government’s removal of petrol subsidies and are opposed to the refinery operating easily in the country.”
Despite the resistance, Dangote expressed confidence that he would overcome the challenges.
He emphasized his commitment to seeing the refinery thrive, saying he’s no stranger to tough battles.
“We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am ready and 100 percent sure I will win at the end of the day,” he said, per the publication.
The refinery began selling petrol in September 2024, a development that significantly reduced Nigeria’s reliance on imported fuel.
KanyiDaily recalls that Dangote Refinery is set to stop supplying petroleum products to the Nigerian market due to delays in renegotiating the naira-for-crude agreement.
Tobias Sylvester
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