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| Chairman of Dangote Industries, Aliko Dangote |
Modular refineries confirmed Dangote’s statement on Nigeria’s oil mafia, which wants to stop Nigeria from refining crude oil for petrol and other petroleum products. Chairman of Dangote Industries, Aliko Dangote exposes the oil mafia in Nigeria. The modular refinery operators state that they raised similar concerns on many occasions but received no feedback. They also state that the Chairman of the Dangote Group, Aliko Dangote, re-emphasised their stance last week. Dangote names those behind refinery funding Dangote mentioned the oil mafia and their efforts to stop him from building Africa’s largest refinery. He disclosed this while speaking at the Afreximbank annual meetings in Nassau, The Bahamas, on Wednesday, June 12. Africa’s richest man named Afreximbank and Access Bank as a big part of the refinery funding. He stated that the vision would have failed without their backing. Refinery owners agree with Dangote The refinery owners, under the aegis of the Crude Oil Refinery Owners Association of Nigeria (CORAN), said the merchants have held Nigeria hostage in domestic petroleum products production and are stifling the country’s supply. Punch reports that Africa’s wealthiest man said local and international oil mafia tried everything to stop him from building the refinery. Dangote said: “As a matter of fact during the COVID period, some of the international banks were looking forward to making sure that they push us into default of our loans so that the project will just be dead. And that didn’t happen with the help of banks like Afreximbank.” According to him, the rise in food inflation in Nigeria is also due to a hike in petrol prices. He said that in-country refining would help tackle the high costs. Oil prices in Kenya In other reports by TUKO.co.ke, Kenya has recently struggled with high fuel costs, which the then-Deputy President William Ruto attributed to petrol cartels in 2021. William Ruto said corrupt business cartels are controlling the prices of fuel in the country, fleecing Kenyans. Ruto wondered why the cost of petroleum was higher in Kenya than in Uganda, a landlocked country that relies on Kenya for imports.
by Jackson Otukho Elijah Ntongai
