The chairman of Dangote Group, Aliko Dangote, has said fear of being labelled a monopoly was the reason he did not buy Mobil, Africa Petroleum, and Oando petroleum products distribution companies.
He disclosed this during a recent media briefing amid the company’s face-off with the Nigerian Union of Petroleum and Natural Gas Workers, NUPENG.
Dangote explained that at the earlier stage of his 650,000 barrels per day refinery project, he had intended to restrict operations to petroleum products production.
“We didn’t want to go into retail. It was during the time we were building this refinery that they sold Mobil, AP, and Oando. We could have bought them, the three of them didn’t cost N500 million.
“If we knew this was going to happen, maybe we would have done it the other way. But we didn’t want to be called a monopoly; that’s why we left that side. Restrict ourselves to production, they will become our customers, and we will have a nice party together,” he stated.
He, however, stressed that he is ready to confront players in the country’s downstream oil sector.
“But if they are looking for fights, I have been fighting all my life,” he said.
In recent weeks, Dangote Group and NUPENG have clashed over unionisation disputes. NUPENG had accused Dangote Refinery of anti-labour activities over its fuel distribution scheme.
However, Dangote has repeatedly denied NUPENG’s claims.
On Monday, the Dangote Refinery commenced its fuel distribution scheme nationwide despite opposition from key stakeholders in the downstream oil sector.
Fear of monopoly stopped me from buying Mobil, AP, Oando – Dangote
