Aliko Dangote, the President of Dangote Group, has revealed that a friend who once advised him against investing in Nigeria is now teasing him for not heeding his warning.

My Friend Who Warned Against Investing in Nigeria is Now Taunting Me – Dangote

Dangote shared this during an interview with PREMIUM TIMES on Sunday. This revelation comes amid reports from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) suggesting that diesel produced by the Dangote Refinery is of inferior quality.

“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,” Dangote recounted. “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 as saying.

He emphasized that his investment in the refinery was aimed at solving a significant issue in the country, expressing frustration over the resistance he has faced.

Dangote added, “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, and run the refinery. At least the country will have high-quality products and create jobs.”

The 650,000 barrel-per-day refinery, which commenced operations last year after a decade of construction, cost $19 billion—more than double the initial estimate. It promises to reduce Africa’s biggest oil producer’s dependency on imported fuel and save up to 30 percent of the total foreign exchange spent on imports.

On Sunday, the Federal Government, through the NMDPRA, stated it was awaiting new reports to verify the actual sulphur content of the diesel produced by the Dangote refinery, following the company’s denial of producing inferior fuel.

George Ene-Ita, the NMDPRA spokesman, told The PUNCH that the agency had fulfilled its responsibilities and would not engage in a media conflict over the claims made by NMDPRA Chief Executive Farouk Ahmed, who said Dangote’s diesel contains more sulphur than imported diesel.

Ene-Ita noted that around 15 engineers and scientists from the authority are stationed at the Dangote refinery, with a fresh report on the refinery’s sulphur content expected on Monday (today).

Earlier, Africa’s richest man had shared how a powerful group was obstructing his efforts to import crude, making it difficult to secure products and slowing down operations.

However, last week, the NMDPRA stated that the Nigerian government had not yet licensed the Dangote refinery to begin operations in the country. The Chief Executive Officer, Farouk Ahmed, revealed this while speaking to journalists at the State House on Thursday, July 18.

Ahmed dismissed claims of ongoing efforts to sabotage Dangote refinery’s operations due to the lack of crude oil supply by International Oil Companies, stating that the refinery was still at the pre-commissioning stage and had not been licensed. He also claimed that Dangote’s diesel was below international standards, a claim which Dangote has refuted.

Read also: