Inferior diesel allegation: ‘A very wealthy friend now taunts me for investing in Nigeria instead of Dubai,’ says Dangote 

 

President of Dangote Industries Limited, Aliko Dangote, has revealed how four years ago, a friend advised him against investing in Nigeria because of  inconsistencies in policies and shenanigans of interest groups.

Dangote made the disclosure after the Nigeria Midstream and Downstream Petroleum Regulatory Agency (NMDPRA) alleged that his Refinery is not licensed and produces inferior diesel. 

In an interview he granted to Premium Times, Dangote said the friend that tried to dissuade him against investing in Nigeria has been taunting him in the past few days after the demarketing comment of the NMDPRA which is an agency of the federal government. 

He said: “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 action 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,” the businessman said.

Dangote also said he is willing to give up ownership of his multibillion-dollar oil refinery to the state-owned energy company NNPC Limited.

“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s OK. If they buy me out, at least, their so-called monopolist would be out of the way,” Dangote said.  

“We have been facing 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.

“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.

 

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