Africa’s richest man Aliko Dangote is battling to get his $20 billion refinery in Nigeria fully functional and begin recouping returns on his investment as clashes with local regulators and oil majors spill over into a public war of words. Dangote and his team have accused international oil producers of unfairly selling locally produced crude to it above market prices. He is being accused by Nigerian regulators of demanding a monopoly over refined oil products. Attempts to broker a truce are underway. Nigeria’s deputy oil minister Heineken Lokpobiri said other government officials and Dangote who attended a meeting on Monday “demonstrated a strong commitment” to solve the refinery’s challenges.
Three Sides to Nigeria’s Oil Story
