Dangote Accuses ‘Oil Mafias’ of Plot to Undermine $20bn Refinery
Nigerian billionaire, Aliko Dangote, has accused powerful “oil mafias” in the nation’s petroleum sector of working to sabotage his $20 billion Dangote Petroleum Refinery.
Speaking during the refinery’s first anniversary of petrol production, Dangote warned that the same forces that destroyed Nigeria’s once-thriving textile industry decades ago are now targeting his refinery.
He said the past year has been extremely challenging, alleging that international traders and local marketers are flooding Nigeria with cheap, subsidised products to cripple local refining — the same strategy that collapsed industries in other African countries.
“The same way they killed other sectors, they now want to use in killing us,” Dangote cautioned.
Despite the hurdles, he maintained that the refinery has the capacity to meet Nigeria’s fuel demand while still exporting. Between June and September 2025, the refinery exported over 1.6 billion litres of petrol, accounting for 58% of its output.
“If we don’t have the capacity, then why are we exporting?” he asked.
He also credited the refinery with eliminating Nigeria’s persistent fuel queues and reducing petrol prices from nearly ₦1,100 per litre to about ₦841 in some areas.
Dangote revealed plans to introduce 4,000 CNG-powered trucks to cut costs further and improve distribution nationwide. He dismissed fears of job losses, stressing that the trucks would create about 24,000 direct jobs with competitive pay, insurance, and pensions.
He urged Nigeria and Africa to shield local industries from excessive imports, warning that unchecked dumping of cheap products exports poverty and destroys industrial growth.
“When you dump cheap products, you don’t just take away business, you export poverty. Africa must stop exporting jobs,” Dangote said.
