“Frustrated”, Aliko Dangote Offers to Sell Refinery Amid Ongoing Dispute 

The controversy surrounding the refinery has intensified, with Dangote alleging that both local and foreign interests, likened to a “mafia,” have repeatedly attempted to thwart the refinery’s completion.

A few days later, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) accused the refinery of producing inferior products compared to imports. Farouk Ahmed, CEO of NMDPRA, claimed that the refinery’s diesel quality was 665 ppm, deemed inferior, and stated that the refinery had not yet been licensed to begin operations. He denied allegations that the regulatory body was trying to undermine the refinery’s operations due to a lack of crude oil supply from international oil companies.

In an exclusive interview with PREMIUM TIMES, Africa’s richest man said: “Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s OK. If they buy me out, at least, their so-called monopolist would be out of the way.”

Speaking further, Dangote added: “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.”