Africa’s richest man, Aliko Dangote, has sounded the alarm over a deep-rooted campaign to undermine his multibillion-dollar Dangote Refinery project—pointing fingers squarely at powerful oil marketers and traders who have thrived off Nigeria’s long-standing fuel subsidy regime.
In a statement released Tuesday, Dangote made it clear that his current battle is not with the newly constituted leadership of the Nigerian National Petroleum Company Limited (NNPCL), but with entrenched interests within the oil sector who view his 650,000 barrels-per-day Lekki refinery as a direct threat to their grip on Nigeria’s lucrative fuel import racket.
“These are people who have, for decades, profited massively from a broken system built on subsidised fuel imports,” Dangote said. “Now that we’re building something that can bring genuine energy independence to Nigeria, they’re doing everything to frustrate our efforts.”
The Dangote Group commended President Bola Ahmed Tinubu for injecting fresh energy into the NNPC by appointing Mr. Bayo Ojulari as the Group Chief Executive Officer and Mr. Ahmadu Kida as the Non-Executive Chairman.
“We are confident that this team will address systemic challenges, align with the President’s vision of a $1 trillion economy, and reposition NNPC Limited for operational excellence and long-term sustainability,” Dangote said.
The industrialist noted that he personally visited President Tinubu to express his appreciation for assembling what he called “a formidable and professionally competent team” at the helm of NNPCL.
According to Dangote, the new appointments signal a strategic shift towards reform and innovation in Nigeria’s energy architecture. “The calibre of individuals appointed and their clear reform-driven agenda reflect a serious commitment to professionalism, transparency, and performance.”
But while praising the government’s reforms, Dangote did not mince words about the sabotage facing his refinery.
“There is a cartel—oil marketers and traders—who are actively working to derail what we’re building. They are fighting back because they know their days of exploiting Nigerians through shady fuel imports are numbered,” he warned.
He added, “This is not just a business battle. It’s a fight for the soul of Nigeria’s energy future. I’ve fought many battles in my life. This won’t be my last, and I am 100% confident that we will win in the end.”
The $19 billion Dangote Refinery, located in the Lekki Free Trade Zone, has been hailed as a game-changer for Nigeria’s economy, with the potential to eliminate fuel imports, create jobs, stabilize the naira, and boost industrial productivity. But its success now hinges on overcoming both technical and political headwinds.
As the refinery gradually ramps up production, all eyes are on whether Nigeria’s energy czar can overcome the shadowy forces determined to keep the country dependent on imported fuel.
PIONEER NEWS 