My friend who warned against investing in Nigeria now taunting me
Aliko Dangote, the President of Dangote Group, revealed that a friend who previously warned him against investing in Nigeria is now taunting him for not heeding his advice.
In an interview with PREMIUM TIMES on Sunday, Dangote shared this revelation amidst reports from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) alleging that diesel from the Dangote Refinery is of inferior quality.
“Four years ago, a wealthy friend began investing his money abroad. I disagreed and urged him to reconsider for the sake of our country. He blamed his decision on policy inconsistencies and the influence of interest groups. Recently, this friend has been taunting me, saying he warned me and has been proven right,” Dangote said.
He explained that his investment in the refinery aimed to address a significant national issue, expressing frustration over opposition from certain groups.
“As you 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 asset to my grave. Everything I do is for my country. We have faced a fuel crisis since the 70s. This refinery can help solve the problem, but some people seem uncomfortable with my involvement. I am willing to let the NNPC buy me out and run the refinery, ensuring high-quality products and job creation for the country,” he added.
The 650,000 barrel-per-day refinery, which began operations last year after a decade of construction, cost $19 billion—more than double the initial estimate. It promises to reduce Africa’s biggest oil producer’s reliance on imported fuel and save up to 30 percent of the foreign exchange spent on imports.
On Sunday, the Federal Government, through the NMDPRA, announced it was awaiting fresh reports to confirm the sulphur content of the diesel produced by the Dangote refinery, following the company’s denial of producing inferior fuel.
NMDPRA spokesman George Ene-Ita stated that the agency had conducted its duties and would not engage in a media dispute over the claims made by NMDPRA Chief Executive Farouk Ahmed, who asserted that Dangote’s diesel has higher sulphur content than imported diesel.
Ene-Ita noted that the authority has about 15 engineers and scientists embedded in the Dangote refinery, with a fresh report on the refinery’s sulphur content expected on Monday.
Dangote had previously recounted how a cabal was obstructing his efforts to import crude, causing operational delays. Last week, NMDPRA announced that the Nigerian government had not yet licensed the Dangote refinery to begin operations.
NMDPRA CEO Farouk Ahmed clarified that the refinery is still at the pre-commissioning stage and has not received a license. He also claimed that Dangote’s diesel product does not meet international standards, a statement which Dangote refuted.
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