Aliko Dangote Reveals Challenges Faced in Establishing Refinery
Lagos, Nigeria — June 13, 2024 — Africa’s wealthiest man, Aliko Dangote, has shed light on the formidable challenges he faced from powerful interests while establishing his $20 billion Dangote Refinery. Speaking candidly, Dangote compared the opposition from the oil sector to the notorious influence of drug cartels.
“I didn’t know that the mafia in oil are stronger than the mafia in drugs. I can tell you that. Yes, it’s a fact. The local and foreign mafia tried several times to sabotage the refinery from coming to fruition,” Dangote stated.
The Nigerian billionaire highlighted the significant disruption his refinery has caused to entrenched interests within the oil industry. “In a system where for 35 years people are used to counting good money, and all of a sudden they see that the days of counting that money have come to an end, you don’t expect them to pray for you. Of course, you expect them to fight back.”
Dangote emphasized that the resistance has been multifaceted, involving attempts to hinder crude oil supply and block the purchase of the refinery’s products. “And I think that is the process that we’re now really going through. But the truth is that, yes, the country, the sub-region, and also the continent, sub-Saharan Africa, need this refinery. So, you expect them to fight through non-supply of crude and non-purchase of the product.”
Despite these challenges, Dangote remains committed to the project, which is poised to transform the oil landscape in Nigeria and beyond. The refinery, once fully operational, is expected to significantly reduce Nigeria’s dependency on imported refined petroleum products and bolster the nation’s economy.
The Dangote Refinery, located in Lagos, is one of the largest in the world and aims to produce 650,000 barrels per day. Its establishment marks a significant milestone in Nigeria’s industrial and economic development, promising to create jobs, boost local production, and improve the balance of trade.
The resistance Dangote has encountered underscores the complexities and high stakes involved in overhauling an industry long dominated by powerful and vested interests. However, with his track record of overcoming formidable challenges, many remain optimistic that Dangote will succeed in bringing his ambitious vision to fruition.
