The President and Chief Executive Officer of Dangote Group, Aliko Dangote, has emphatically stated that the company paid $100 million to purchase the land where its $20 billion refinery was constructed, dismissing claims that it received incentives from the government.
“In building the refinery, we did not collect one single incentive from the federal government of Nigeria,” Dangote told reporters during a visit to his refinery on Saturday.
He further clarified, “Even though Lagos State gave us a good deal, we paid $100 million for land. It was not free land; we paid for it.”
Dangote’s remarks come in response to recent monopoly allegations by the Nigerian government, which suggested that the billionaire businessman sought the suspension of diesel and aviation fuel imports, potentially positioning his company as the sole supplier in Nigeria.
“People are always looking at the other side; they are not really looking at the real picture. This country has been having petrol queues since 1972, and we are still having the same issue,” Dangote stated, addressing the ongoing challenges in Nigeria’s petroleum sector.
He added, “Just when we are about to start to go to the refinery, everybody is now up and about. What is giving us a lot of joy is that the majority of the population are with us. We are not discouraged, and we will continue what we are doing.”
This statement is the latest in a series of public comments from Dangote regarding President Bola Tinubu’s economic policies.
Dangote’s clarification aims to address and dispel any misconceptions about the financial dealings and government relations of his multi-billion-dollar refinery project, emphasizing transparency and independence in its development.