Aliko Dangote, President of the Dangote Group, has said the company will not give up on Nigeria despite the challenges facing the $20 billion Dangote Petroleum Refinery. He stressed that building and running the refinery has been the result of years of struggle and commitment to the country.
Speaking during an interactive session, Dangote said continued fuel imports are harming Nigeria’s economy and discouraging local refining.
“We have already built our own refinery. Other people may not be so lucky if this continues. It is Nigeria that is losing, not me,” he said.
Dangote explained that the refinery was not built for quick profit. He noted that refining margins are small and that easier investment opportunities exist abroad.
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“If it was about money, I would have invested in America and made more. This is not about being rich,” he said.
He said the investment was meant to meet Nigeria’s energy needs and reduce reliance on imported fuel.
“Refinery margins are very small. I wouldn’t be doing this if money was the main goal,” Dangote added.
He also compared the fight to build the refinery with past challenges in Nigeria’s sugar and cement industries.
“There’s nothing we did in Nigeria that we didn’t fight for. Sugar, cement, we fought and we are still fighting,” he said.
Dangote admitted that the refinery’s impact may not be fully appreciated now, but he believes it will be valued in the future.
“Maybe today people don’t appreciate what we have done, but in the future, they will remember,” he said.
He also ruled out shifting focus to exports, saying Nigeria must remain the main market.
“If I turn away from Nigeria, that means I’ve given up. I’m not going to give up. It’s a fight, and we are ready,” Dangote said.