Africa’s wealthiest man, Aliko Dangote, has disclosed that a friend who started investing abroad four years ago is now mocking him over his recent struggles with the Nigerian government concerning his refinery project in Lagos.
Dangote has faced significant challenges, including allegations of a cabal blocking his crude import efforts and difficulties in obtaining necessary products, which have slowed down operations.
Last week, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) announced that the Dangote refinery has yet to receive a license to begin operations. Farouk Ahmed, the CEO of NMDPRA, revealed this during a press briefing at the State House on Thursday. Ahmed denied claims that efforts to disrupt Dangote’s refinery operations were due to a lack of crude oil supply by international oil companies. He clarified that the refinery is still in the pre-commissioning stage and has not been licensed yet.
Ahmed also criticized the quality of the refinery’s diesel product, stating it was below international standards, a claim Dangote disputed during a weekend interactive session.
In an interview with PREMIUM TIMES, Dangote recounted how a friend, whom he had encouraged to invest in Nigeria, is now taunting him for his decision.
“Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his action in the interest of his country. He blamed his action on policy inconsistencies and shenanigans of interest groups. That friend has been taunting me in the past few days, saying he warned me and that he has been proven right,” Dangote shared.
Emphasizing his dedication to Nigeria, Dangote expressed his frustration with those hindering his project.
“As you probably know, I am 67 years old. In less than three years, I will be 70. I need very little to live the rest of my life. I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country,” he said.
Dangote highlighted the potential impact of the refinery on Nigeria’s longstanding fuel crisis, suggesting that some individuals are opposed to his involvement. He indicated his willingness to let the Nigerian National Petroleum Corporation (NNPC) buy him out and run the refinery to ensure the country benefits from high-quality products and job creation.
The 650,000 barrel-per-day refinery, which began operations last year after a decade of construction, cost $19 billion—more than double the initial estimate. It aims to reduce Nigeria’s dependency on imported fuel and save up to 30 percent of the foreign exchange spent on imports.
