My friend warned me against investing in Nigeria – Dangote

Aliko Dangote, the president of the Dangote Group, claims that a wealthy friend who had earlier advised him against making investments in Nigeria is now making fun of him for disobeying his advice.

In response to claims that the Dangote Refinery’s diesel was of subpar quality, the Nigerian Midstream and Downstream Petroleum Regulatory Authority, or NMDPRA, reportedly criticised the refinery’s output.

In an interview with PREMIUM TIMES, Dangote discussed the counsel he was given four years prior from a buddy who decided to invest overseas because of discordant policies and the antics of interest groups in Nigeria.

“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 actions 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,” Dangote was quoted to have said.

Despite the refinery’s ability to produce high-quality goods and generate employment, the 67-year-old expressed his irritation over what he saw as attempts to undermine his investment. He also reaffirmed his commitment to using the refinery to address Nigeria’s protracted fuel issue.

In order to maintain the refinery’s operation and advance the interests of the nation, Dangote said he would be prepared to sell it to the Nigerian National Petroleum Corporation, or NNPC, if needed.

The billionaire emphasised that all he does is in the best interests of the nation, adding that he would not take the refinery or any other property or asset to his grave. He claimed to be approaching 70 years old and to need very little to live the remainder of his life.

He claimed that some people were uncomfortable with his being in the picture and that Nigeria has been experiencing a fuel crisis since the 1970s. He reiterated that the refinery might assist in finding a solution.

The Dangote Refinery has not been granted a licence to start operations and is currently in the pre-commissioning phase, according to the NMDPRA.

Dangote has refuted the complaints expressed by Farouk Ahmed, the Chief Executive Officer of the Authority, regarding the refinery’s diesel quality.

Analysts, however, think that the government’s recent remarks are all intended to thwart the refinery’s success in order to further their own agendas.

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