At a recent investment forum in Lagos, Aliko Dangote, President of Dangote Group, reiterated his ongoing struggle against entrenched interests in Nigeria’s oil sector, which he claims are actively working to undermine his $20 billion refinery project. He accused these groups, often referred to as “cabals,” of funding resistance to the removal of petrol subsidies and opposing the smooth operation of his refinery .
Dangote emphasized that these cabals have long profited from government-subsidized oil imports and are now attempting to sabotage the 650,000 barrels-per-day refinery located in Lekki, Lagos. Despite these challenges, he expressed confidence in overcoming the opposition, stating, “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” .
The Dangote Refinery, touted as the world’s largest single-train refinery, began operations in 2023 after more than a decade of construction. While the refinery has the capacity to meet Nigeria’s fuel demands, it has faced significant obstacles, including securing adequate crude oil supplies and navigating regulatory challenges .
The Independent Petroleum Marketers Association of Nigeria has declared their support for Dangote amidst the ongoing struggle, highlighting the broader implications for Nigeria’s energy independence and economic stability .
This confrontation underscores the complexities of Nigeria’s oil industry, where efforts to reform and localize fuel production often clash with established interests benefiting from the status quo.
