Aliko Dangote, the founder of Dangote Group, disclosed that his $19 billion refinery project in Lagos faced relentless sabotage attempts from local and international criminal organizations he likened to a mafia. Speaking at the Afreximbank Annual Meetings, Dangote emphasized the severity of these challenges, comparing the oil cartels’ influence to that of drug mafias.
“I anticipated resistance, but the strength of the oil mafia surpassed even that of drug mafias. It’s a harsh reality,” Dangote stated.
Despite these obstacles, Dangote, known for his resilience, highlighted his determination to persevere. “They tried everything to stop us, but I’ve been a fighter all my life. It’s in my nature to confront challenges,” he affirmed.
During the COVID-19 pandemic, Dangote revealed facing additional pressures from international banks eager to force loan defaults that could have derailed the refinery project. However, supportive banks like Afreximbank prevented such setbacks.
According to PUNCH Online, Dangote has already repaid $2.4 billion of the $5.5 billion borrowed for the refinery, underscoring progress amid adversity.
Looking ahead, Dangote announced intentions to venture into the steel sector, aiming for self-sufficiency by exclusively utilizing Nigerian-produced steel.
Despite minor logistical setbacks, Dangote Refinery plans to commence petrol sales between July 10 and 15, slightly delayed from its original June schedule.
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