Dangote Clarifies Identity of “Cabals” Opposing His $20bn Refinery Project

By Kolawole Ojebisi

Business Mogul Identifies Oil Marketers as Main Opponents

Aliko Dangote, President of Dangote Group, has clarified his recent comments about “cabals” working against his $20 billion refinery project. The billionaire businessman specified that these opponents are major oil marketers and traders, not the new leadership of the Nigerian National Petroleum Company Limited (NNPCL) as some had speculated.

In a statement issued on Tuesday, Dangote revealed: “The cabals I referred to are some major oil marketers and traders who were bent on frustrating the efforts of President Tinubu in revamping the nation’s economy.”

Background of the Controversy

Dangote had previously indicated that individuals who profited from government-subsidized oil imports were attempting to sabotage his 650,000 barrels per day refinery in Lekki, Lagos. “We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am ready and 100 per cent sure I will win at the end of the day,” he stated.

Support for NNPC’s New Leadership

The industrialist expressed confidence in President Tinubu’s appointments at NNPC, particularly praising the selection of Mr. Bayo Ojulari as Group Chief Executive Officer and Mr. Ahmadu Kida as Non-Executive Chairman.

“We are confident that this team will address systemic challenges, align with the President’s vision of a $1tn economy, and reposition NNPC Limited for operational excellence and long-term sustainability,” Dangote affirmed.

He added: “The calibre of individuals at the helm, and their deliberate, reform-driven agenda, demonstrate a commitment to fostering a culture of performance and professionalism.”

Clarifying Misinterpretations

Dangote’s statement came amid speculation that his remarks about “fighting cabals” might relate to recent leadership changes at NNPC. He clarified that his comments were not directed at the new NNPC leadership, which he described as supportive of his refinery’s needs.

The business magnate emphasized his determination to overcome resistance from entrenched interests in the oil sector, while maintaining his support for the current administration’s energy sector reforms.

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