Dangote regrets investing in Nigeria amid regulation saga on refinery

Aliko Dangote, President of Dangote Group, revealed that a friend who had previously advised him against investing in Nigeria is mocking him for disregarding that advice.

Dangote shared this in an interview with Premium Times on Sunday, July 21.

This coincides with reports from the Nigerian Midstream and Downstream Petroleum Regulatory Authority that diesel from Dangote Refinery is substandard.

“Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his actions in the interest of his country.

“He blamed his action on policy inconsistencies and shenanigans of interest groups.

“That friend has been taunting me in the past few days, saying he warned me and that he has been proven right,” Dangote was quoted to have said.

Dangote unhappy over antagonism on refinery

Aliko Dangote [Getty Images] Pulse Nigeria

He stated that his investment in the refinery addressed a significant problem in the country and expressed confusion as to why some individuals opposed his efforts.

“As you probably know, I am 67 years old. In less than three years, I will be 70. I need very little to live the rest of my life. I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country.’

“We have been facing a fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, run the refinery.

“This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture. So I am ready to let go, let the NNPC buy me out, and run the refinery. At least the country will have high-quality products and create jobs,” Dangote added.