DANGOTE HINTS AT ‘MAJOR SHAKEDOWNS’ IN NIGERIA’S OIL SECTOR

June 10, 2025June 10, 2025

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Agency report

The president of the Dangote Group and founder of the Dangote Refinery, Aliko Dangote, has signaled plans for significant changes in Nigeria’s downstream oil and gas sector.

Speaking to journalists following President Bola Ahmed Tinubu’s visit to the 650,000-barrel-per-day refinery in Lekki, Lagos, Dangote stated that the planned shake-up is not focused on reducing petrol prices.

Although he did not reveal specific details, Africa’s richest man hinted that the upcoming overhaul would bring substantial transformation to the industry.

“Now that the President has visited and he has given us additional energy, we will inform you; you will hear from us soon, and that will be one of the major shakedowns in the entire country.

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“It is not the reduction of price; it will be the total overhaul of the downstream,” he stated.

Recall that President Tinubu visited Dangote Refinery, describing the facility as a massive investment and point of reference in Nigeria’s path to industrialization.

In October last year, Dangote Refinery kicked off the rollout of premium motor spirit, which has led to a drop in fuel imports into Nigeria.