Aliko Dangote, the founder of the Dangote Group, has revealed that both local and international criminal organizations, which he described as "mafia", made repeated attempts to sabotage his $19 billion refinery project in Lagos.
Speaking at the Afreximbank Annual Meetings, Dangote likened the oil cartels to a mafia that is stronger than the drug mafia, hell-bent on maintaining their grip on 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, who described himself as a fighter, said they "tried all sorts" to stop him, but he has been fighting all his life and considers it part of his life.
"As a matter of fact, during the COVID period, some of the international banks were really 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," he added.
Dangote also revealed that he has paid off $2.4 billion of the $5.5 billion borrowed for the Lagos-based refinery.
Furthermore, Dangote unveiled plans to diversify into the steel sector, aiming to utilize solely Nigerian-produced steel and achieve self-sufficiency.
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.
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