Africa’s richest man, Aliko Dangote has expressed regret in investing in his country, Nigeria.
According to him, his investment in the refinery addressed a significant problem in the country and expressed confusion as to why some individuals opposed his efforts.
Dangote stated this in an exclusive interview with PREMIUM TIMES following reports from the Nigerian Midstream and Downstream Petroleum Regulatory Authority that diesel from Dangote Refinery is substandard.
Farouk Ahmed, CEO of NMDPRA had asserted that the refinery’s diesel quality was 665 ppm, which he deemed inferior, suggesting that Nigeria should not heavily depend on the Dangote refinery for its fuel supply.
Ahmed also revealed that the refinery has not yet received a license to commence operations in the country.
Following the accusations, Dangote then offered to sell the Dangote Refinery to the Nigerian National Petroleum Corporation Limited (NNPC
He had also pulled the plug on the proposed investment in Nigeria’s steel industry.
Dangote said his company has decided to halt the plan to enter the steel industry to prevent accusations of being branded a monopoly.
“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 was quoted to have said.
“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.’
“We have been facing a fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery.
“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s OK. If they buy me out, at least their so-called monopolist would be out of the way”.
“This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, and run the refinery. At least the country will have high-quality products and create jobs,” Dangote added.
The escalating conflict between Dangote Group and regulatory authorities within the oil and gas sector regarding the refinery’s operations has caused concerns among Nigerians
