Africa’s richest man, Alhaji Aliko Dangote, claimed on Tuesday the 650,000-barrel-per-day refinery was built without a single incentive from the Federal Government.
The billionaire industrialist has been having a running battle with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) over several issues since the refinery commenced operation in August.
It took the intervention of the Minister of State for Petroleum (Oil) Heineken Lokpobiri, to resolve the imbroglio.
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However, Dangote in his address at the Crude Oil Refinery Owners Association of Nigeria (CORAN) Summit in Lagos on Tuesday disclosed how the Refinery was built without a single incentive from the government.
Dangote, who was represented at the event by Mr. Ahmed Mansur of the Dangote Group, stressed the need for investor incentives to achieve the country’s goal of becoming a refining hub.
He said Nigeria would need to develop up to 1.5 million barrels per day of refining capacity supported by the government and collaboration among industry stakeholders to realize the vision of making the country a net exporter of petroleum products.
Dangote said: “We built the Dangote Refinery without a single incentive from the government. However, to achieve the vision of turning Nigeria into a refining hub, investors need to be incentivized.”
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