My friend warned me against investing in Nigeria – Dangote

President of the Dangote Group, Aliko Dangote has said a wealthy friend of his, who had previously warned him against investing in Nigeria is now laughing at him for ignoring his advice.
He made this disclosure following reports that the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, criticized the quality of diesel from the Dangote Refinery.
Dangote, in an interview with PREMIUM TIMES, reflected on the advice he received four years ago from a friend who chose to invest abroad due to concerns over policy inconsistencies and interest group shenanigans in Nigeria.
“Four years ago, one of my very wealthy friends began to invest his money abroad. I disagreed with him and urged him to rethink his actions in the interest of his country.
“He blamed his action on policy inconsistencies and shenanigans of interest groups.
“That friend has been taunting me in the past few days, saying he warned me and that he has been proven right,” Dangote was quoted to have said.
The 67-year-old, who expressed his commitment to solving Nigeria’s longstanding fuel crisis through the refinery, also voiced frustration over what he perceives as efforts to undermine his investment, despite the refinery’s potential to provide high-quality products and create jobs.
Dangote indicated that if necessary, he would be willing to sell the refinery to the Nigerian National Petroleum Corporation, NNPC, to ensure its operation and benefit the country.
The businessman, who said he is getting to 70 years and needs very little to live the rest of his life, stressed that everything he does is in the interest of the country, adding that he would not take the refinery or any other property or asset to his grave.
He said Nigeria had been facing a fuel crisis since the 70s, restating that the refinery could help in resolving the problem, alleging that some people were uncomfortable that he was in the picture.
The NMDPRA had claimed that the Dangote Refinery is still in the pre-commissioning stage and has not been licensed to begin operations.
The Authority’s Chief Executive Officer, Farouk Ahmed, had also raised concerns about the quality of diesel produced by the refinery, which Dangote has disputed.
However, analysts believe the recent comments from government quarters are all geared towards frustrating the success of the refinery to protect their vested interests.
My friend warned me against investing in Nigeria – Dangote