Dangote reveals alleges plots by major oil marketers, traders to frustrate Tinubu’s reforms

Aliko Dangote, founder of the Dangote Group, the owner of Dangote Refinery and Petrochemical Plants has revealed that some major oil marketers and traders in the country are bent on frustrating President Bola Tinubu’s attempts to restructure the country’s economy.

Dangote dropped this bombshell to State House correspondents after a meeting with the president in Abuja on Monday, May 5, 2025.

Recently, Dangote while speaking at an investor forum in Lagos said he was still fighting for the survival of his $20 billion refinery.

Hear him, “For a very, very long time, those that have made a lot of money from government-subsidised oil imports into Nigeria were the ones trying to sabotage the $20 billion worth of refinery situated in Lekki, Lagos.”

Responding to inquiries about his statement on being determined to fight cabals in the oil sector to a standstill, Dangote clarified that his comments were not related to the new leadership of the Nigerian National Petroleum Company (NNPC) Limited.

He said the new leadership at NNPC has so far been supportive in addressing the company’s needs.

Dangote explained that the cabals he referred to were “some major oil marketers and traders” who were bent on “frustrating the efforts of President Tinubu” in revamping the nation’s economy.

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He expressed gratitude to Tinubu for assembling a capable leadership team at NNPC, emphasising the appointments of Bayo Ojulari as group chief executive officer (GCEO) and Ahmadu Musa Kida as non-executive chairman.

The business magnate further noted that he visited the president to commend him for forming such a highly skilled and professionally competent team, which he described as being well-qualified to elevate NNPC to a greater height.

According to Dangote, the new management team brings a wealth of technical expertise and managerial experience necessary for revitalising NNPC.

The investor highlighted that the team, under the leadership of Ojulari and Kida, reflects the president’s strategic focus on driving reform and innovation within the energy sector.

“We are confident that this team will address systemic challenges, align with the President’s vision of a $1 trillion economy, and reposition NNPC Limited for operational excellence and long-term sustainability,” he said.

Dangote also said that the recent activities and structural reforms initiated by NNPC signify a renewed emphasis on transparency, efficiency, and accountability.

“The calibre of individuals at the helm, and their deliberate, reform-driven agenda, demonstrate a commitment to fostering a culture of performance and professionalism,” he added.

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