Aliko Dangote, President of the Dangote Group, has stated that he is still working hard to ensure the survival of his $20 billion refinery in Lekki, Lagos.
He acknowledged that his battle to make the refinery successful is far from over.
Dangote expressed confidence in his ability to overcome the challenges and reiterated his determination to succeed.
Speaking at an investor forum in Lagos, Dangote claimed that certain groups, which have long profited from Nigeria’s government-subsidized oil imports, are actively trying to prevent his refinery from operating smoothly.
These groups, he suggested, are funding resistance to the Nigerian government’s efforts to remove petrol subsidies and are obstructing the refinery’s progress.
Dangote remained optimistic, noting that he has spent his life fighting for what he believes in, and he is certain that this battle will end in his favor.
He referred to the challenges as temporary setbacks, insisting that the refinery is vital for Nigeria, the sub-region, and Africa as a whole.
He also reiterated his concern that some international oil companies (IOCs) are trying to undermine his refinery by restricting the supply of crude oil, despite domestic obligations to supply it.
Dangote had previously accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of enabling the importation of substandard petroleum products into Nigeria, further hampering his project.
Despite these challenges, Dangote has remained committed to his vision for the refinery, which aims to reduce Nigeria’s dependence on costly refined fuel imports.
The refinery began producing petrol in September 2024, and its entry has already helped lower fuel prices, even though some retailers are facing financial losses.
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