Africa’s richest man, Aliko Dangote, has declared that he is still battling to ensure the survival of his $20 billion refinery, accusing powerful interests in Nigeria’s oil sector of working to undermine the project. Speaking at an investor forum in Lagos, Dangote claimed that groups benefiting from subsidized fuel imports are resisting his refinery’s operations and lobbying against government reforms.
Dangote alleged that these entities, which have long profited from Nigeria’s fuel importation system, are funding opposition to President Bola Tinubu’s removal of petrol subsidies and are deliberately obstructing his refinery’s success. Despite the challenges, he expressed confidence in overcoming the resistance, stating, “We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am ready and 100% sure I will win at the end of the day.”
The refinery, which began production last September, has faced multiple setbacks, including accusations that international oil companies (IOCs) are inflating local crude prices to force the facility to rely on expensive imports. Devakumar Edwin, Vice President of Oil and Gas at Dangote Industries Limited, recently claimed that IOCs and regulators are deliberately sabotaging the refinery by denying it fair access to Nigerian crude.
Meanwhile, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has thrown its support behind Dangote, praising his efforts to reduce fuel prices. However, the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) called for fair competition, urging the government to ensure a level playing field for all market players.
The refinery’s struggles come as Nigeria seeks to boost domestic fuel production and reduce reliance on imports. Despite the obstacles, Dangote remains determined to push the refinery to full capacity, insisting that its success is vital for Nigeria and the broader African energy market.
