“Dangote Urges Nigerian Government: ‘Subsidy Has to Go'”

Babatunji Wusu –

Aliko Dangote, President and Chief Executive of Dangote Group, has called for the removal of fuel subsidies in Nigeria, arguing that it would clarify the country’s true petrol consumption levels. In a recent interview with Bloomberg Television, he highlighted that the removal would prevent inflated pricing and unnecessary government expenditures.

Dangote, who owns two oil blocks with production expected to begin next month, emphasized that his $20 billion mega refinery in Lagos will significantly alleviate currency pressures by reducing the need for fuel imports. He stated, “Ending petrol imports will have a huge upside in easing currency pressures.” He also mentioned plans to track shipments from his refinery to ensure domestic distribution, which could help the government save money.

Regarding the refinery’s viability in relation to subsidies, Dangote noted, “We have a choice to produce for export or sell locally. However, as a private company, we need to be profitable.” He stressed that the decision to remove subsidies rests with the government, asserting that ultimately, “this subsidy will have to go.”

**Key Points:**
– Dangote advocates for the removal of fuel subsidies to clarify petrol consumption.
– His $20 billion refinery is set to alleviate currency pressures and reduce fuel imports.
– Plans include tracking shipments to ensure local distribution.
– The viability of the refinery depends on government action regarding subsidies.