Aliko Dangote, President of the Dangote Group, recently shared how a wealthy friend who advised him against investing in Nigeria is now taunting him for ignoring that advice. This comes amid criticism from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) regarding the quality of diesel from the Dangote Refinery.
In an interview with Premium Times, Dangote recounted advice he received four years ago from a friend who chose to invest abroad due to concerns over policy inconsistencies and interest group interference in Nigeria.
“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 actions 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 stated.
At 67 years old, Dangote emphasized his commitment to resolving Nigeria’s fuel crisis through his refinery. He expressed frustration over perceived efforts to undermine his investment despite the refinery’s potential to produce high-quality products and create jobs.
Dangote suggested that if necessary, he would be willing to sell the refinery to the Nigerian National Petroleum Corporation (NNPC) to ensure its operation and benefit the country. “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.
The NMDPRA has stated that the Dangote Refinery is still in the pre-commissioning stage and has not been licensed to begin operations. The Authority’s Chief Executive Officer, Farouk Ahmed, raised concerns about the quality of diesel produced by the refinery, which Dangote disputes.
