ABUJA — Africa’s richest man and President of Dangote Refinery, Aliko Dangote, has revealed that several Nigerians with far more liquid cash than him shy away from investing in the country because of the harsh realities of doing business locally.
Speaking in a recent media chat, Dangote said many wealthy individuals would rather “cool off” abroad than face the challenges he endures while running large-scale investments in Nigeria.
“There are more people who have more liquid cash than me in Nigeria — maybe one, two, or three, without mentioning names. But when they see us going through this wahala, they run to Monaco and just stay jeje; they don’t want to go through this hell,” Dangote said.
His remarks come at a time of heightened tension between Dangote Refinery, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG), and other stakeholders in the downstream oil sector.
On Monday, Dangote Refinery kicked off its nationwide fuel distribution scheme, a move NUPENG and the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) have criticized, describing it as a “Greek gift” to Nigerians.
The refinery’s bold entry into nationwide fuel supply is already stirring debate in the sector, even as Dangote insists Nigeria must encourage local investment despite the hurdles.
Comments