Nigeria’s largest oil company, Dangote, risks going out of business due to a lack of support from the state, which currently cannot supply crude oil to its newly inaugurated refinery.
After launching one of Africa’s largest refineries, designed to provide oil at lower costs for the population, Dangote is now confronting an unprecedented crisis.
Despite the company’s requests, the Nigerian government has stated it does not have crude oil available for supply. Consequently, the government has advised Dangote to source crude oil from other African nations.
In a recent interview with Nigerian media, Dangote’s Managing Director, Aliko Dangote, expressed his frustration, sharing an anecdote about a conversation he had with a wealthy friend four years ago.
At that time, the friend began investing abroad, citing political instability and interest group corruption in Nigeria.
Dangote had urged him to reconsider for the sake of their country. Recently, the friend mocked him, claiming he had warned Dangote about the situation.
Having initially turned to the United States and Brazil for crude oil supplies, Dangote is now looking toward Africa, particularly Libya, where discussions are ongoing.
The $20 billion refinery aims to achieve a production capacity of 650,000 barrels per day of gasoline, diesel, and kerosene.
The Nigerian National Petroleum Corporation (NNPC) was expected to supply 300,000 barrels of crude daily for refining.
However, due to theft, pipeline diversions, and a lack of investment, the NNPC has been unable to fulfill its commitments.
Despite these challenges, Aliko Dangote remains determined to eliminate Nigeria’s dependence on foreign fuel imports while meeting domestic demand.
