Aliko Dangote, President of the Dangote Group, has revealed that a friend who once advised him against investing in Nigeria is now mocking him for not heeding the warning.
In an interview with PREMIUM TIMES, Dangote shared this anecdote just as reports emerged that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has claimed diesel from Dangote Refinery is of inferior quality.
“Four years ago, one of my 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 decision 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.
Dangote emphasized that his investment in the refinery was aimed at solving a significant issue in Nigeria, expressing confusion over why some people were opposing him. “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 continued, “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. At least the country will have high-quality products and create jobs.”
The 650,000 barrel-per-day refinery, which started operations last year after a decade of construction and $19 billion investment—more than double the initial estimate—promises to help reduce Nigeria’s dependence on imported fuel and save up to 30 percent of the foreign exchange spent on imports.
On Sunday, the Federal Government, through the NMDPRA, stated that it was expecting fresh reports to confirm the real sulphur content of the diesel produced by Dangote Refinery, amid the company’s denial of producing inferior fuel. NMDPRA spokesman George Ene-Ita told The PUNCH that the agency had done its job and would not engage in a media fight over the claims by NMDPRA Chief Executive Farouk Ahmed about Dangote’s diesel quality. The authority has embedded about 15 engineers and scientists in the refinery, whose fresh report on the sulphur content is expected today.
Previously, Dangote recounted how a cabal was blocking his attempts to import crude, hindering operations. However, last week, NMDPRA stated that the Nigerian government had not yet licensed the Dangote refinery to begin operations. NMDPRA CEO Farouk Ahmed, speaking at the State House on July 18, dismissed claims of efforts to obstruct the refinery’s operations due to lack of crude oil supply from International Oil Companies, clarifying that the refinery was still at the pre-commissioning stage and had not been licensed. Ahmed also claimed that Dangote’s diesel was below international standards, a claim which Dangote refuted.
