Aliko Dangote, the president of the Dangote Group, revealed that his friend, who had previously advised him against making investments in Nigeria, was now making fun of him for disregarding his advice.
Dangote made this revelation just after the Nigerian Midstream and Downstream Petroleum Regulatory Authority was reported to have asserted that the diesel produced at the Dangote Refinery was of lower quality.
“Four years ago, one of my very 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 action 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 was quoted to have said.
He claimed he invested in the refinery to contribute to the country’s solution to a significant problem and questioned why some individuals were conspiring against him.
He added, “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.’
“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.
“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, and run the refinery. At least the country will have high-quality products and create jobs.”
After ten years of postponed construction, the $650,000 barrel-per-day refinery finally opened its doors last year. It cost $19 billion, more than twice as much as initially estimated, and was expected to help Africa’s largest oil producer wean itself off of its reliance on foreign fuel and save up to 30% of the foreign exchange spent on importing goods.
While the Dangote refinery refuted allegations of producing inferior fuel, the Federal Government, acting through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, stated on Sunday that it was awaiting new information to verify the genuine sulphur content of the diesel produced by the refinery.
NMDPRA spokesman George Ene-Ita stated that the agency had fulfilled its duties and that it would not take sides in the media regarding Farouk Ahmed, the NMDPRA Chief Executive, who had claimed that Dangote’s diesel was higher in sulphur than imported diesel.
Ene-Ita reports that the authority has about 15 engineers and scientists stationed at the Dangote refinery. A new report regarding the refinery’s sulphur content is scheduled to be released on Monday, which is today.
The richest man in Africa had previously explained how a cabal was impeding his attempts to buy crude and how it was difficult to get products, which was slowing down operations.
This was revealed by NMDPRA Chief Executive Officer Farouk Ahmed during a Thursday, July 18, press conference at the state house.
Ahmed stated that the refinery is still in the pre-commissioning phase and does not yet have a licence, refuting reports that there are ongoing attempts by International Oil Companies to sabotage the Dangote refinery’s operations because of a shortage of crude oil.
Ahmed went on to say that Dangote’s diesel product fell short of international standards, a point the businessman had denied.
