Aliko Dangote, President of Dangote Group, revealed that a friend who once warned him against investing in Nigeria is now taunting him for disregarding his advice. Dangote shared this during an interview, coinciding with reports claiming that diesel from Dangote Refinery is of inferior quality.
"Four years ago, one of my
very wealthy friends started investing abroad. I disagreed, urging him to
reconsider for the sake of our country," Dangote explained. "He cited
policy inconsistencies and interest group shenanigans. Recently, he’s been
taunting me, saying he warned me and has been proven right."
Dangote stated that his
investment in the refinery aimed to address a significant national issue,
expressing frustration over the opposition he faces. "I am 67 years old.
In less than three years, I’ll be 70. I need very little to live out my life. I
can’t take the refinery to my grave. Everything I do is for my country,"
he emphasized.
Dangote's 650,000
barrel-per-day refinery, launched last year after a decade of construction
costing $19 billion, aims to reduce Nigeria’s reliance on imported fuel.
However, the Nigerian Midstream and Downstream Petroleum Regulatory Authority
(NMDPRA) raised concerns about the diesel’s sulphur content, awaiting further reports
to confirm its quality.
The NMDPRA stated they had
embedded engineers and scientists in the refinery, with a fresh report expected.
Dangote previously mentioned difficulties in importing crude and getting
products, slowing down operations. Despite claims of obstruction, NMDPRA CEO
Farouk Ahmed clarified that the refinery is still in the pre-commissioning
stage and not yet licensed. Ahmed also claimed the refinery's diesel does not
meet international standards, a point Dangote disputes.
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