Aliko Dangote Oil Refinery Woes!

[Kasozi Mulindwa]

Greetings All

There has been much aproar about Nigerian Business man Aliko Dangote's $19 Billion oil refinery in Lagos Nigeria. 

The Refinery is considered to be the largest single train refinery in the world with an installed capacity of 650,000 barrels per day and currently producing an output of 350,000 barrels which is projected to increase to 500,000 barrels per day. The refinery is said to hold significant promise for the Nigerian Economy specifically being able to meet all the country's daily gasoline demands and majorly cut Foreign Exchange (FX) spending.

The thinking is that by cutting back the FX spending by buying from Dangote's refinery, the country would save the limited FX and redirect it to other wanting sectors of the economy.

This has however been countered by allegations against Aliko Dangote accusing him of intentions to monopolize the oil sector in the Country, a huge threat; first to the country's Nigerian National Petroleum Campany Limited (NNPCL) marred with a history of gross mismanagement, and second the country's sector regulator and the Nigerian Elite who have for long benefited from the illicit prone importation of petroleum products.

Nigerian writer Justice Nwafor gives a detailed account of Aliko Dangote's Oil  Refinery Woes in the African Arguments article in link below

https://africanarguments.org/2024/08/whos-afraid-of-aliko-dangote/

Kasozi Mulindwa

Global Goals Champion