Nigerian billionaire businessman, Aliko Dangote, who broke his silence on the brewing dispute between his company and NUPENG, Dangote on manufacturing Dangote fortune
Africa’s richest man, Aliko Dangote, has accused powerful ‘oil mafias’ in Nigeria’s oil and gas sector of working relentlessly to destroy his $20 billion Dangote Petroleum Refinery, warning that the same forces which ruined Nigeria’s textile industry decades ago are now targeting his refinery.
Speaking on Monday at the refinery’s first anniversary of petrol production, Dangote said the past year has been extremely difficult, but insisted the refinery was built to transform Nigeria’s oil sector.
“When we were getting suffocated, we would sell as good, we would charge as premium, which is still happening today, and then we would compete with the Russian product. And then the only way for us to keep that refinery going, we have to sell. And when we are going to sell, the same team, part of the mafia, they will now price us low.”
Dangote explained that international traders and local marketers are trying to dump cheap, subsidised products in Nigeria to weaken local production, the same strategy that collapsed textile and refinery industries in other African countries.
“The same way they killed other sectors, they now want to use in killing us,” he warned.
Despite these challenges, Dangote dismissed doubts about the refinery’s ability to meet demand. He revealed that between June and September 2025, the refinery exported more than 1.6 billion litres of petrol. According to him, this proves the plant can supply Nigeria and still earn foreign exchange.
“If we don’t have the capacity, then why are we exporting? In fact, 58% of our capacity is for export, after satisfying Nigeria,” he said.
Dangote also credited the refinery with ending Nigeria’s long history of fuel queues. He recalled that fuel shortages began as far back as 1975.
“We’ve been battling fuel queues for 50 years. If today we can eradicate them, that is something we should be celebrating,” he said.
The refinery, he added, has already helped push petrol prices down from nearly ₦1,100 per litre to about ₦841 in some parts of the country. With the introduction of 4,000 CNG-powered trucks, he promised further price reductions and better nationwide distribution.
Rejecting claims that the new system will destroy jobs, Dangote insisted it would create at least 24,000 direct jobs.
“Nobody will lose a job. These trucks will be driven by people, not robots. Each truck creates six jobs. Drivers will also earn good pay, health insurance, life insurance, and pensions,” he stated.
He urged Nigeria and Africa to protect local industries from excessive imports, stressing that industrialisation is the only way to secure the continent’s future.
“When you dump cheap products, you don’t just take away business, you export poverty. Africa must stop exporting jobs,” he said.
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