DANGOTE ACCUSES OIL CABALS OF SABOTAGING $20BN REFINERY 

Africa’s richest man and president of Dangote Refinery, Aliko Dangote, has alleged that powerful interests within Nigeria’s oil and gas sector are actively working against the success of his $20 billion refinery project located in Lekki, Lagos.

Speaking at an investor forum in Lagos over the weekend, Dangote claimed that the “cabal” benefiting from decades of government-subsidized petroleum imports continues to undermine the refinery’s operations.

“For a very, very long time, those that have made a lot of money from government-subsidised oil imports into Nigeria were the ones trying to sabotage the refinery,” he said, according to global news platform Semafor.

Dangote further alleged that these groups were also behind opposition to President Bola Tinubu’s decision to end petrol subsidies, and are now attempting to prevent the refinery from operating seamlessly.

Despite the challenges, the business magnate remains optimistic, asserting that he is no stranger to adversity.

“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,” Dangote stated confidently.

The 650,000 barrels-per-day refinery commenced fuel sales in September 2024, leading to a sharp decline in Nigeria’s fuel imports. The development was widely hailed as a major step towards energy self-sufficiency for the country.

President Tinubu had announced the removal of fuel subsidies in May 2023 during his inauguration speech, a move seen as a catalyst for the full activation of the Dangote Refinery.