Oil Mafia, Worse Than Drug Cartels, International Banks Made Spirited Efforts to Derail Me
Speaking at the Afreximbank Annual Meeting Aliko Dangote, President Dangote Group, revealed that “oil mafia” who appeared stronger than drug cartels” were hell-bent on maintaining their grip on the industry” thus attempted several times to derail his independent refinery.
“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.
Dangote said both local and international criminal organisations, which he described as “mafia”, made repeated attempts to sabotage his $19bn refinery project located in Lagos.
“Well, he said, “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 added.
Dangote, who described himself as a fighter, said they “tried all sorts” to stop him.
At the meeting, Dangote told the audience that plans are afoot to diversify into the steel sector, aiming to utilise solely Nigerian-produced steel and achieve self-sufficiency, adding that so far he has paid off $2.4bn of the $5.5bn borrowed for the Lagos-based refinery.
Dangote Refinery recently rescheduled the launch of its petrol sales to July 10-15, pushing back its initial June target due to “minor” logistical issues.
He added, “As a matter of the fact that 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.”