President of the Dangote Group, Alhaji Aliko Dangote, has vowed to continue his fight to secure the future of his $20 billion refinery project, declaring that despite persistent sabotage attempts, he remains confident of eventual victory.
Speaking at an investor forum in Lagos, Africa’s richest man decried what he described as a coordinated campaign by vested interests who have long profited from Nigeria’s petroleum import regime. According to Dangote, these groups—allegedly backed by powerful individuals and international oil companies (IOCs)—are working to frustrate the 650,000 barrels-per-day refinery situated in Lekki, Lagos.
“We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am 100 per cent sure I will win at the end of the day,” Dangote stated, as reported by Semafor, an international news platform.
He accused these groups of resisting the Federal Government’s removal of fuel subsidies and intentionally making crude oil supply difficult for the refinery, which began producing petrol in September 2024. Dangote said he was persuaded years ago by a former Saudi Energy Minister, Khalid Al-Falih, to abandon the refinery project—but he refused.
In earlier warnings, Dangote alleged that international oil companies were inflating the price of local crude oil to force the refinery to source crude from distant countries like the United States, significantly increasing operational costs. He also accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of issuing licences to marketers importing substandard fuel products, undermining local refining efforts.
Despite the obstacles, Dangote reaffirmed his commitment to the project, saying, “The sub-region and the entire continent of sub-Saharan Africa need this refinery. We’ll get there.”
The refinery has already begun to shake up Nigeria’s fuel market by slashing the pump price of premium motor spirit (PMS) from around ₦1,100 per litre to ₦860, following a government-approved naira-for-crude deal. This initiative, backed by President Bola Tinubu, allows Dangote to buy crude oil in naira rather than dollars—easing foreign exchange pressures and helping stabilize fuel prices.
Mixed Reactions from Industry Players
The Independent Petroleum Marketers Association of Nigeria (IPMAN) threw its weight behind Dangote, commending him for his efforts to reduce fuel prices and expressing support for his ongoing battle.
“This is business. Competition is expected. We, the independent marketers, are happy with Dangote for the price reductions, even if it affects our margins,” said IPMAN Publicity Secretary, Chinedu Ukadike.
In contrast, the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) called for a more collaborative environment in the downstream sector. PETROAN President, Billy Gillis-Harry, emphasized the need for a level playing field, urging the government to ensure a steady supply of crude to all refineries.
“We just want every player to do their business without conflict,” he said, noting that more refineries are expected to come online soon.
What Lies Ahead
Despite strong resistance from entrenched interests, industry watchers say the Dangote refinery could be a game-changer in Nigeria’s quest for energy independence. If successful, it could eliminate the country’s longstanding reliance on imported fuel and shift the balance of power in the energy sector.
With growing support from independent marketers and a government keen on reforming the oil and gas industry, the outcome of this high-stakes battle may well define the future of Nigeria’s energy landscape.
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