Aliko Dangote, President of the Dangote Group, has clarified that the ongoing challenges facing his $20 billion refinery project are being driven by major oil marketers and traders, not the newly appointed leadership of the Nigerian National Petroleum Company Limited (NNPCL). In a statement issued on Tuesday, Dangote praised President Bola Tinubu for appointing a capable and professional team to lead NNPCL, highlighting Bayo Ojulari as Group Chief Executive Officer and Ahmadu Kida as Non-Executive Chairman.
Dangote commended the new NNPC leadership for their technical and managerial expertise, describing them as aligned with President Tinubu’s vision of reform and innovation in the energy sector. He expressed confidence that the team would address systemic challenges and help reposition NNPC Limited for operational excellence and long-term sustainability.
Addressing recent media reports about his ongoing battle for the survival of his refinery, Dangote clarified that his comments were not directed at the new NNPC management, which he said has so far been supportive of the refinery’s operations. Instead, he pointed at some major oil marketers and traders who, according to him, are determined to frustrate President Tinubu’s efforts to revamp the nation’s economy. Dangote accused these groups of profiting from the era of subsidised fuel imports and now resisting change brought by the refinery’s operations.
He lauded the reforms at NNPCL as positive steps toward greater transparency, efficiency, and accountability in the oil and gas sector. Dangote reaffirmed his group’s support for the administration’s economic vision and expressed optimism that the new NNPC leadership would drive transformation in Nigeria’s energy sector.
Dangote also referenced the legal and commercial hurdles his refinery has faced, including resistance from vested interests and ongoing litigation over the importation of refined petroleum products. He noted that some of these groups have funded opposition to the removal of petrol subsidies and are working to undermine the refinery’s operations.
Despite these challenges, Dangote remains resolute. “We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am ready and 100 percent sure I will win at the end of the day,” he said.
The Dangote Refinery, which began selling petrol in September 2024, has been hailed as a transformative project for Nigeria’s energy sector, significantly reducing the country’s reliance on imported fuel. However, Dangote’s remarks underscore the complex and often contentious dynamics within Nigeria’s oil industry, as entrenched interests resist the changes brought by local refining capacity.
