In a recent statement, business tycoon Aliko Dangote clarified that neither his refinery nor his company has received any incentives from the Federal Government of Nigeria or Lagos State.
While acknowledging that Lagos State provided favorable conditions, he emphasized that his company paid $100 million for the land, refuting claims that it was obtained for free.
“Majority of the population are with us. So, we are not discouraged; we will continue what we are doing,” Dangote affirmed.
Addressing accusations of monopolistic behavior, Africa’s richest man explained that his group’s operations focus on adding value by utilizing local raw materials to create products for sale. He insisted that his company has never intentionally or unintentionally hindered others from entering similar businesses.
Dangote cited the example of the cement industry, where his company faced competition from Lafarge. He highlighted that labeling his group as monopolistic is disheartening, especially since Lafarge was never called a monopoly when it was the only player in the Nigerian market.
“Monopoly is when you stop people, you block them through legal means. No, it is a level playing field whereby whatever Dangote was given in cement, for example, other people were given because some of them even got more than us,” he concluded.
