They have spent about $18bn on those refineries, and they are still not working
Aliko Dangote, president of Dangote Group, has raised doubts over the future of Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna, despite about $18 billion spent on repairs. Addressing a delegation visiting the Dangote Petroleum Refinery in Lekki, he said, “They have spent about $18bn on those refineries, and they are still not working. And I don’t think, and I doubt very much if they will work.”
Dangote likened the effort to “trying to modernise a car that was built 40 years ago,” arguing that even a new engine cannot fix an obsolete structure. He recalled a failed attempt to take over the refineries in 2007, which was later reversed by the government, noting that the plants produced only 22 per cent of needed petrol volumes when state-run. Dangote suggested corruption and inefficiency are bigger problems than technical faults.