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Fuel Price: Oil industry Mafia Stronger Than Drug Cartel – Dangote

Posted by on September 25, 2024 0

The African richest man disclosed this in a 25-minute interview with Bloomberg Television on Monday.

Aliko Dangote, the President of Dangote Group has lamented that oil industry mafia in Nigeria is stronger than drug cartels.
He disclosed this in a 25-minute interview with Bloomberg Television on Monday.
He also revealed that his refinery is on the verge of reaching an agreement with the Federal Government as regards the price of petroleum products from the Dangote Refinery, especially the Premium Motor Spirit.
“Well, yes, most likely,” he said while responding to the question on whether he would sell fuel cheaper to Nigerians.
“You know, because in business, you know, I’ve said this in my interview before, where I said that I never knew that the oil industry mafia is stronger than the drug cartel.
 
“It’s a big cartel. You know, I will say this anywhere, that you are right, they can say, Okay, fine. You know, to make sure that this refinery doesn’t work.
 
“Will keep selling cheaper. But right now they won’t be able to sell cheaper because they will not be able to take local currency. We’ll take local currency.
 
“We have the refining capacity not only to satisfy Nigeria, we have refining capacity that is almost twice the consumption of Nigeria, but you’re also confident that you can strike a deal with authorities.
 
“We will definitely strike a deal. The president has announced that… we will. It is going to start first of October, you know. So I think between now and the next couple of days, they will come out with a very, very clean agreement.”
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