Aliko Dangote, President of Dangote Group, has once again raised alarm over sustained efforts by entrenched interests to frustrate operations at his $20 billion refinery project in Lekki, Lagos.
Speaking at an investor forum in Lagos, Dangote alleged that a network of individuals benefitting from decades of fuel import subsidies are actively working against the success of the 650,000-barrel-per-day refinery, which began petrol production in 2024.
“These groups have funded resistance to the removal of subsidies and are opposed to the refinery’s smooth operations,” Dangote said, adding that the fight against such interests is ongoing but winnable. “I have been fighting all my life, and I am 100 per cent sure I will win.”
This is not the first time Dangote has accused unnamed oil “cabals” of sabotage. Last year, he claimed international oil companies were deliberately denying his facility adequate local crude supply, forcing imports from far-off markets like the United States.
Company officials, including Vice President for Oil and Gas Devakumar Edwin, have echoed these sentiments. Edwin accused International Oil Companies (IOCs) of inflating crude prices and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of licensing the importation of substandard products — all in a bid to keep Nigeria dependent on imports.
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Despite the obstacles, the Dangote refinery has reportedly contributed to recent petrol price reductions in Nigeria, dropping from over N1,100 to about N860 per litre following a naira-for-crude agreement endorsed by the federal government.
However, that deal has since been paused, prompting questions about the refinery’s future operating conditions. Petroleum product importers have expressed concern that continued price cuts by Dangote are unsustainable, even as they face mounting losses.
While the Independent Petroleum Marketers Association of Nigeria (IPMAN) declared full support for Dangote’s efforts, urging him to withstand market resistance, the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) called for fair competition and policy clarity.
PETROAN urged the government to ensure crude availability for all domestic refineries while maintaining a level playing field.
With additional refineries expected to commence operations soon, market analysts anticipate continued tensions as new entrants challenge long-standing import frameworks in Nigeria’s energy sector.
Dangote, however, remains defiant, maintaining that the fight is not only necessary but inevitable for the country’s energy independence.