I Don’t Believe They’ll Work’ – Dangote Sparks Controversy Over NNPC Projects

Aliko Dangote, President of the Dangote Group, has expressed deep skepticism over the chances of Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna ever returning to full functionality—despite consuming an estimated $18 billion over the years.....KINDLY READ THE FULL STORY HERE▶

Speaking on Thursday while hosting members of the Global CEO Africa group from Lagos Business School at the Dangote Refinery in Lekki, Lagos, Dangote shared his concerns after a tour of his state-of-the-art 650,000-barrel-per-day facility.

Dangote, whose privately-owned refinery has dedicated more than half of its production capacity to Premium Motor Spirit (PMS), pointed out the stark contrast with the government-run refineries, which only managed 22% PMS production during their operational years.

He recalled that his company had acquired the refineries under the administration of former President Olusegun Obasanjo in January 2007 but was compelled to return them following a change in government led by President Umaru Musa Yar’Adua. Dangote recounted that the refineries were reclaimed based on assurances given to Yar’Adua by the then Managing Director of NNPC, who promised they could make the refineries work.

“But as it stands,” Dangote said, “they’ve now spent about $18 billion on those refineries, and they are still non-functional. I honestly doubt they will ever work.”

He described the government’s turnaround maintenance (TAM) efforts as unrealistic and likened the process to modernizing a vehicle built 40 years ago. “Even if you replace the engine, the body won’t be able to handle the stress of a new technology engine,” he said.

Obasanjo: NNPC’s Corruption Made Failure Inevitable

Dangote’s remarks echoed former President Obasanjo’s longstanding criticism of NNPC’s management. Obasanjo disclosed in 2024 and again in January 2025 that he approached international oil firms such as Shell to manage the refineries, but they declined, branding the facilities unviable.

“I told my successor the refineries would not work, and if they’re ever to be sold, they won’t fetch $200 million—even as scrap,” Obasanjo revealed.

He added that despite knowing the refineries were beyond repair, NNPC leadership resisted reform to continue enabling corruption. “In a more civilized country, those responsible would be in jail,” he said.

In another January 2025 statement, Obasanjo noted that over $2 billion had been further wasted on the refineries since their return from Dangote’s group—yet they remain non-operational. “If the refineries are working,” he asked, “why is everyone now relying on Aliko?”

He concluded with a Yoruba proverb: “After harvesting 100 heaps of yam, the farmer also brings home 100 heaps of lies.” The proverb, he said, captures the inflated promises surrounding Nigeria’s refineries.