Africa’s richest man, Aliko Dangote, has renewed his criticism of powerful interests he describes as an “oil mafia,” accusing them of deliberately sabotaging Nigeria’s energy sector and targeting his $20 billion Dangote Refinery.
Speaking on the challenges facing the country’s downstream oil industry, Dangote claimed the group operating within the sector is more powerful and organized than international drug cartels. According to him, these interests have consistently worked to frustrate local refining efforts in order to protect their lucrative fuel import businesses.
Dangote alleged that his refinery has suffered massive financial losses due to these activities, citing the theft of petroleum products valued at about $82 million. He said the losses were recorded through diversion, smuggling and other sharp practices that undermine the supply chain.
The billionaire industrialist argued that Nigeria’s long-standing dependence on fuel imports has created vested interests that benefit from the status quo and resist any attempt to change it. He maintained that the Dangote Refinery, which is designed to significantly reduce fuel imports and conserve foreign exchange, has become a major target because it threatens those interests.
He further warned that unless the government decisively confronts these powerful networks, Nigeria’s efforts to achieve energy security and self-sufficiency would continue to face serious setbacks. Dangote called for stronger regulation, improved security around oil infrastructure and firm political will to dismantle the networks he described as the “oil mafia.”
Despite the challenges, Dangote reaffirmed his commitment to ensuring the refinery operates at full capacity, stressing that local refining remains critical to stabilising fuel supply, creating jobs and strengthening the Nigerian economy.
Welcome to KjtsonBlog, your trusted source for Nigerian celebrity news, Naija entertainment updates, and trending news in Nigeria. Stay connected to the latest gist, events, and stories across Naija and worldwide.