Fuel price cut: Dangote reveals move to frustrate importers

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Alhaji Aliko Dangote, the president of Dangote Refinery, has promised to obstruct petroleum imports into the nation.

He threatened to add an additional 4,000 CNG trucks to the 4,000 that currently transport goods to merchants nationwide if importers continue to overlook his product in favor of overseas markets.

Dangote, the richest man in Africa, stated he is making every effort to guarantee the survival of his $20 billion investment.

The owner of Africa’s biggest refinery emphasized at a news conference in Lagos on Sunday that a company of such size cannot be allowed to fail.

According to Dangote, he won’t stand by while his investment fails, therefore the current game of cat and mouse between him and the nation’s leading oil marketers would have to go on.

He went on to say that he hopes and prays that fuel importers keep losing more money.

The richest man in Africa claimed that he is losing money as well, pointing out that marketers want imports to continue rather than him gaining money.

He said, “If they want to import fuel, let them continue to import. It’s okay, we will meet in the market. If 4,000 CNG trucks are not enough, we will buy another 4,000 trucks. It’s a logistics business.”

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