Dangote’s Diversified Ventures: FFK Highlights Differences from Port Harcourt Refinery Operations
Former Aviation Minister Femi Fani-Kayode (FFK) has criticized billionaire businessman Aliko Dangote’s role in Nigeria’s oil refining sector, comparing it unfavorably to his success in industries like cement and sugar production.
Fani-Kayode argued that the oil and gas business, especially in the context of the Port Harcourt refinery and Nigeria’s energy needs, requires different expertise and approaches than traditional manufacturing or commodity industries.
FFK’s remarks come amid ongoing discussions about the performance of the Dangote Refinery, which, despite high expectations, has faced challenges like securing sufficient local crude oil for operations and concerns over its pricing strategies.
Critics point out that Dangote’s operations alone are insufficient to resolve Nigeria’s fuel crisis, emphasizing the need for functionality in other refineries like the government-owned Port Harcourt and Warri plants.
This debate also highlights broader issues in Nigeria’s energy sector, including high costs of imported fuel, inefficiencies in local refining, and the struggle to meet domestic demand.