Cabal Still Fighting Dangote Refinery, Says Africa’s Richest Man

|By Babatunji Wusu-

-Dangote Accuses Oil Cabal of Sabotage Over $20bn Refinery Project
–Says Fight Against Subsidy Beneficiaries Not Over, But Victory Is Certain

Africa’s richest man and President of Dangote Refinery, Aliko Dangote, has accused entrenched interests in Nigeria’s oil and gas industry of sabotaging his $20 billion refinery project in Lekki, Lagos.

Speaking at an investor forum in Lagos over the weekend, Dangote claimed that a powerful cabal, long profiting from government-subsidised fuel imports, is determined to cripple the operations of the 650,000 barrels per day refinery.

“For a very, very long time, those that have made a lot of money from government-subsidised oil imports into Nigeria were the ones trying to sabotage the $20 billion worth of refinery,” he told Semafor, a global news platform.

Dangote further revealed that these groups also sponsored opposition to the Bola Tinubu administration’s fuel subsidy removal, fearing that the refinery’s full operation would upend their grip on the petroleum sector.

Despite the resistance, Dangote exuded confidence, vowing to defeat the cabal just as he has overcome past battles.

“We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am ready and 100 percent sure I will win at the end of the day,” he said.

The Dangote Refinery began the sale of petrol in September 2024, triggering a sharp decline in Nigeria’s fuel imports and reshaping the energy supply chain.

It will be recalled that President Bola Ahmed Tinubu announced the removal of the fuel subsidy during his May 2023 inauguration, a policy decision that remains one of the most controversial reforms of his administration.

The refinery, touted as Africa’s biggest and most ambitious private industrial project, is expected to significantly reduce Nigeria’s dependency on imported fuel and stabilize prices.