In a calm but firm tone, Africa’s wealthiest man, Aliko Dangote, has drawn a clear boundary—not against the newly appointed leaders at the Nigerian National Petroleum Company Limited (NNPCL), but against a strong network of top oil marketers.
“This issue I’m addressing is not with the new NNPC team,” Dangote stated on Tuesday. “It’s about those oil marketers and traders who benefited heavily from fuel subsidies in the past and are now opposing the needed reforms.”
As concerns grow over the future of his $20 billion refinery project, the President of the Dangote Group made it clear that he fully supports President Bola Tinubu’s revamped NNPC leadership, commending their professionalism, technical know-how, and reform-driven mindset.
Dangote gave special recognition to Bayo Ojulari, newly appointed Group CEO, and Ahmadu Kida, the new Non-Executive Chairman. He noted that their selection reflects President Tinubu’s goal of building a $1 trillion economy and ensuring a more transparent and efficient energy sector.
“We believe this new leadership will key into the President’s goals, clean up long-standing issues, and position NNPC as a standard for excellence and sustainability,” Dangote added.
However, beyond these compliments lies a bigger conflict. Dangote accused some influential players in the oil trading space of working against Nigeria’s economic reforms for selfish gain. He alleged that these marketers, who made huge profits under the previous subsidy regime, are now trying to block progress toward refining independence.
“They are resisting because their days of excessive profits are ending. But I’ve faced tough battles before—and I’m sure I’ll come out victorious,” Dangote said with confidence.
He also commended the early signs of change within NNPC Limited, pointing out better transparency and accountability as positive steps forward. He stressed that the Dangote Group remains fully committed to supporting government policies aimed at transforming Nigeria’s economy—especially the energy sector.
Final Note
This is more than just a business disagreement—it’s a struggle between the outdated systems of the past and a new vision of economic independence. While the refinery power struggle may not be loud, it is ongoing. And one thing remains certain: Dangote is not ready to give up.
