Wickedness! Dangote Refinery Making Millions Amid War, Says Adeyanju

Human rights activist Deji Adeyanju has accused billionaire businessman Aliko Dangote of exploiting the Iran war to profit at the expense of Nigerian citizens already struggling with economic hardship.

In a statement titled “Sudden Fuel Price Hike: Dangote’s Monopoly Destroying Nigeria”, Adeyanju criticized the Dangote Refinery for increasing fuel prices by over 100 percent, citing the ongoing conflict in Iran and escalating tensions in the Gulf region as the justification.

Adeyanju questioned the reasoning behind the surge, noting that the refinery sources its crude oil locally within Nigeria. He highlighted that the Federal Government had previously approved a policy allowing the Nigerian National Petroleum Company (NNPC) to sell crude to Dangote Refinery in naira—a move designed to stabilize supply and shield local pricing from foreign exchange fluctuations.

The activist also raised concerns about the refinery’s dominant position in Nigeria’s downstream sector, suggesting that its near-monopoly may allow unchecked pricing decisions.

He said:

“Aliko Dangote has increased the pump price of fuel by over 100 percent, citing the war in Iran. Yet, the refinery sources its crude locally, and the President had approved that the NNPC sell crude in naira.

“Even more concerning is that the fuel being sold was refined long before the recent Gulf crisis. Why, then, should Nigerians bear the cost of a price hike linked to events that did not impact already-refined stock?

“Because the refinery operates in a near-monopoly, the government seems unwilling or unable to regulate it. This is unprecedented wickedness, as Dangote Refinery appears to profit from war-induced misfortune at the expense of already impoverished Nigerians.”