Abuja: On Tuesday evening, President Bola Tinubu received billionaire industrialist Alhaji. Aliko Dangote was at the State House in Abuja for a private meeting.
Although brief and undisclosed, the meeting underscores the Federal Government’s ongoing support for private-sector-led growth in the oil and gas industry.
The engagement followed President Tinubu’s visit to the 650,000-barrel-per-day Dangote Refinery and Petrochemicals complex in Lagos in June.
Earlier on Tuesday, Tinubu welcomed delegates to the West African Refined Fuel Conference via a post on his official X handle.
He emphasised Africa’s urgent need to take a stronger position in the global energy markets and reduce its dependency on external pricing.
“Africa can no longer be a price taker. We must set transparent benchmarks that reflect our true value and protect our economies,” Tinubu posted.
He also revealed that Nigeria is collaborating with regional partners to create a unified African energy market.
“From refining to regulation and trade flows, we’re building a market that rewards production and secures energy for our people,” the President said.
During the conference, Dangote addressed key structural problems affecting refinery developments across the continent.
In a presentation titled ‘Building an African Refinery Hub: Prospects and Challenges’, he outlined persistent difficulties.
“Besides poor infrastructure, our biggest problem lies in rent-seeking throughout the petroleum value chain across Africa,” Dangote explained.
He noted the sector’s long-standing vulnerability to corruption and exploitation by vested interests.
“When a refinery disrupts this setup, it challenges powerful forces determined to resist and maintain the status quo,” he stated.
