In Nigeria, the conflict between billionaire Aliko Dangote and oil sector authorities could further weaken the country’s economy and reputation, according to observers. Aliko Dangote has invested $20 billion to build a mega refinery capable of ensuring fuel self-sufficiency for all of West Africa. Except that he is still struggling to source crude oil locally. In recent weeks, the billionaire has made multiple accusations against oil sector players, suspected of wanting to block his path.
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It is a war of communication which seems to have started between Aliko Dangote and the state agencies of the oil sector.
The tycoon accuses the Nigerian Midstream and Downstream Regulatory Authority (NMDPRA) of allowing cheap and very poor quality fuel to enter the market – which competes with that produced at his refinery. The refinery had been inaugurated with great fanfare in May 2023 by President Buhari and was estimated to have the capacity to refine some 650,000 barrels per day, or about two and a half times Nigeria’s consumption. However, the gigantic refinery still not reaching its full capacity of gasoline production.
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Aliko Dangote went even further by publicly claiming that executives of the Nigerian National Oil Company, NNPC, “ opened a plant to produce mixed petroleum products [à d’autres substances chimiques] off the island of Malta ».
On Tuesday, the NNPC boss was forced to issue a statement to personally deny the accusations. As for the head of the Regulatory Authority, he warned against the monopoly that Aliko Dangote could exercise on the refined products market.
A remark that sparked indignation among Nigerian opposition leaders… The head of the African Development Bank, Akinwumi Adesina, also took a stand in favor of the billionaire: ” Who would want to invest in a country that denigrates its largest investor? “, he warned in particular.