Aliko Dangote, Africa’s richest person, says some international oil companies (IOCs) are struggling to supply crude to Dangote Petroleum Refinery.
Dangote spoke on CNN’s ‘Connecting Africa’ programme, which
aired on June 3.
Asked if domestic oil companies have been supplying crude to
the refinery, he said “there are challenges”.
However, Dangote said the Nigerian National Petroleum
Company (NNPC) Limited has been very helpful in providing crude to the 650,000
barrels-a-day refinery.
“They do their own
bit. But some of the IOCs are struggling to give us crude because everybody is
used to exporting and nobody wants to stop exporting,” he said.
“Africa is not going the way it should because we export raw
materials and import finished goods. It doesn’t matter what it is, even if it
is gold or whatever, raw material is always priced at a ridiculously priced
amount compared to finished goods.”
Also, the billionaire said Dangote Group has a good
succession plan.
“We divided the
company into two; where we have myself as the group president, then we have
group president of oil and gas, and we have the group president of other
businesses,” Dangote said.
He estimated Dangote Group’s revenue will reach $30 billion
by the end of the year.
“All these, when you combine, by end of this year, we will
have a group that will have $30 billion and that is big. It means that will be
one of the top 120 companies,” he said.
Furthermore, Dangote said the refinery “will start making
money” soon while addressing the income of the refinery.
“It is not about
making money only, it also gives us a great satisfaction that we are making
Africa great,” he said.
On May 18, Dangote said Nigeria would not have to import
petrol into the country starting from June.
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