The President of Dangote Group, Aliko Dangote, says offshore oil traders are working to sabotage refinery projects across Africa, including his $20 billion facility in Nigeria.
Speaking at a panel during the Afreximbank Annual Meetings in Nassau, The Bahamas, Dangote said some foreign interests are unhappy about Africa’s push to refine its own crude.
“They’re fighting back. Some people are used to making billions from exporting raw crude and don’t want that to stop. So they’re doing everything to undermine us,” he said.
He said traders are flooding the market with cheap products from floating offshore vessels to frustrate local refining efforts.
Despite the challenge, Dangote said his refinery is operating and will begin diesel and petrol sales soon. He urged African leaders to support local production and reduce reliance on imports.
“This is our opportunity to become self-sufficient. We must stand together,” he added.
