The Identities of the Cabals Against My $20bn Refinery — Dangote Clarifies

The New Diplomat
Writer

Ad

‎ ‎How Conflict and Piracy Endanger Global Oil and Gas Transit ‎

Rystad Energy's analysis indicates that the world's five most critical maritime chokepoints are facing escalating risks from conflict, piracy, and environmental hazards, posing a growing threat to global energy security. ‎ ‎These chokepoints, including the Strait of Malacca, Strait of Hormuz, Suez Canal/Bab el-Mandeb, Turkish Straits, and Cape of Good Hope, are vital for transporting…

Ranked: The Size of European Economies by GDP (PPP) in 2025

Key Takeaways Western Europe makes up the largest portion of the $43.8 trillion PPP-adjusted European economy, when measured in International dollars. Eastern Europe ($12.8T) outperforms both Northern ($7.8T) and Southern Europe ($8.3T) in PPP terms, helped in large part by the Russian economy ($7.2T). However, by nominal USD terms, Eastern Europe is the smallest ($4.6T), outweighed by…

Afreximbank launches $1bn African Trade and Distribution Company to boost value-added trade

By Obinna Uballa The African Export-Import Bank (Afreximbank) has launched the African Trade and Distribution Company (ATDC) to accelerate large scale trade in raw materials, minerals, and value-added goods across the continent. The initiative, announced on Tuesday during the ongoing Intra-African Trade Fair (IATF 2025) in Algiers, aims to strengthen Africa’s role in global value…

Ad

By Kolawole Ojebisi

The President of Dangote Group, Aliko Dangote, has made clarifications concerning his claim that some influential Nigerians, who he recently referred to as “cabals”, are working desperately against the smooth operations of his $20bn refinery.

While giving a hint of the identities of the “cabals”, the billionaire businessman stressed that they’re major marketers and traders, and not the new leadership of the Nigerian National Petroleum Company Limited as being speculated in some quarters.

Dangote stated this in a statement issued on Tuesday.

He revealed that the cabals he was referring to “are some major oil marketers and traders who were bent on frustrating the efforts of President Tinubu in revamping the nation’s economy.”

Recall that Dangote had pointed out earlier that some individuals who “for a very, very long time” have “made a lot of money from” government-subsidised oil imports into Nigeria, were the ones trying to sabotage the 650,000 barrels per day oil refinery situated in Lekki, Lagos.

“We’re fighting, and the fight is not yet finished. But I have been fighting all my life, and I am ready and 100 per cent sure I will win at the end of the day,” he was quoted as saying.

He maintained that Tinubu has assembled a “capable leadership team” at the NNPC, highlighting the appointments of Mr Bayo Ojulari as the Group Chief Executive Officer and Mr Ahmadu Kida as the Non-Executive Chairman.

According to Dangote, the new team under the leadership of Ojulari and Kida, reflects the President’s strategic intent to drive reform and innovation across the energy sector.

“We are confident that this team will address systemic challenges, align with the President’s vision of a $1tn economy, and reposition NNPC Limited for operational excellence and long-term sustainability,” he said.

“The calibre of individuals at the helm, and their deliberate, reform-driven agenda, demonstrate a commitment to fostering a culture of performance and professionalism,” he added.

Dangote’s clarifications were made following speculations trailing his remarks over the weekend that he is still fighting for the survival of his refinery, and that he is determined to fight the cabals in the oil sector to a standstill,

The statement triggered speculations that he is not favourably disposed to the sack of former GCEO of the NNPCL and a fellow Northener, Melee Kyari.

Dangote, however, said his statement was not in any way connected to the new leadership of the NNPC, noting that the new leadership in the NNPCL, has been so far supportive in terms of meeting the company’s needs.

Ad

Unlocking Opportunities in the Gulf of Guinea during UNGA80
X whatsapp