Billionaire Aliko Dangote accuses Nigerian government and IOCs of plotting against Dangote refinery It is no secret that the rise of wealthy industrialists in developed countries has much to do with government support. Tax breaks, easy access to loans, favourable regulations, and even protection from foreign competition are all tools used to nurture domestic giants that can boost the national economy. However, this strategy seems elusive in Africa. Aliko Dangote, the richest Black man in the world, exemplifies this disparity. Despite his immense contributions to Nigeria's development, his Dangote Oil Refinery is facing immense sabotage from International Oil Companies or IOCs. This reality highlights the challenges faced by African entrepreneurs who may lack the same level of government support enjoyed by their counterparts in wealthier nations.
his startling revelation was made by the Vice President of Oil and Gas at Dangote Industries Limited, Mr Devakumar Edwin while speaking to a group of Energy Editors at a oneday training programme organised by the Dangote Group. He boldly accused International Oil Companies in Nigeria of sabotaging the Dangote Oil Refinery and Petrochemicals by intentionally obstructing the refinery's efforts to purchase local crude. This, he said the firms do by inflating premium prices above market rates, compelling the refinery to reduce its output and import crude from distant countries like the United States, leading to significantly higher costs. Mr . Devakumar Edwin also expressed grave concerns over the activities of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, which he claims is issuing licenses indiscriminately to marketers importing substandard refined products into the country. The Vice President of Oil and Gas at Dangote Industries Limited further accused IOCs of exploiting Nigeria by exporting raw materials to their home countries, creating employment and wealth abroad, while Nigeria remains dependent on imported refined products. "They are dumping expensive refined products into Nigeria, perpetuating unemployment and poverty here," he lamented. This exploitation strategy, he claimed, has long plagued Nigeria and SubSaharan Africa, allowing multinationals to amass wealth at the expense of local economies.
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