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Dangote Narrates Ordeal with ‘Oil Mafia’
Eko Hot Blog reports that Aliko Dangote, the founder of Dangote Group, has disclosed that criminal organizations, which he referred to as “mafia,” have made numerous attempts to sabotage his $19 billion refinery project in Lagos.
Speaking at the Afreximbank Annual Meetings, Dangote compared the oil cartels to a mafia stronger than the drug mafia, determined to maintain their dominance in the industry.
“Well, I knew that there would be a fight. But I didn’t know that the mafia in oil, they are stronger than the mafia in drugs. I can tell you that. Yes, it’s a fact,” he said.
Dangote, identifying himself as a lifelong fighter, mentioned that various attempts were made to thwart his efforts.
“But I’m a person that has been fighting all my life. You know, so I think it’s part of my life to fight,” he said.
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He continued, “As a matter of fact during the COVID period, some of the international banks really were looking forward to making sure that they push us into default of our loans so that the project will just be dead. And that didn’t happen with the help of banks like Afreximbank.”
According to PUNCH Online, Dangote also shared that he has repaid $2.4 billion of the $5.5 billion borrowed for the Lagos refinery.
Additionally, Dangote announced plans to venture into the steel sector, aiming to use exclusively Nigerian-produced steel to achieve self-sufficiency.
The Dangote Refinery recently postponed the launch of its petrol sales to July 10-15, delaying the initial June target due to “minor” logistical issues.
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