President of the Dangote Group, Alhaji Aliko Dangote has expressed skepticism about the likelihood of Nigeria’s state-owned Port Harcourt, Warri, and Kaduna refineries becoming operational again, citing that they have cost the government around $18 billion without producing any results.
Speaking after a tour of his own 650,000-capacity Dangote Petroleum Refinery in Lagos, he highlighted that his refinery dedicates over 50% of its output to petrol, compared to only 22% from the government refineries.
Dangote also recounted how he and his team returned the refineries to the government in 2007 after acquisition, noting that previous managers claimed they were sold below cost as a gift to President Yar’adua.
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