Dangote vows ‘major shakedowns’ in Nigeria’s oil sector

The president of Dangote Group and founder of Dangote Refinery, Aliko Dangote has vowed that there will be major shakedowns in Nigeria’s downstream oil and gas sector.

Dangote disclosed this in an interview with journalists after President Bola Ahmed Tinubu visited his 650,000-barrel-per-day refinery in Lekki, Lagos State.

According to him, the overhaul he intends to announce in the country’s oil and gas sector is not about petrol price reduction.

Africa’s richest man, however, did not disclose what the proposed overhaul would be.

“Now that the President has visited and he has given us additional energy, we will inform you; you will hear from us soon, and that will be one of the major shakedowns in the entire country.

“It is not the reduction of price; it will be the total overhaul of the downstream,” he stated.

Media Talk Africa reports that President Tinubu visited Dangote Refinery, describing the facility as a massive investment and point of reference in Nigeria’s path to industrialisation.

In October last year, Dangote Refinery kicked off the rollout of premium motor spirit, which has led to a drop in fuel imports into Nigeria.