Aliko Dangote's $20bn Refinery Success

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Nigerian business tycoon Aliko Dangote

BBC

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Nigeria's richest man Aliko Dangote takes on the 'oil mafia'

Summary

Nutrition label

75% Informative

Aliko Dangote's $ 20bn state-of-the-art oil refinery should be some of the best business news Nigeria has had in years .

Many Nigerians will judge its success on two key questions: "Will I get cheaper petrol?" And secondly:"Will I still have to spend hours watching my hair turn grey in a hypertension-inducing fuel queue?".

Dangote's refinery near Lagos is thirsty, with a capacity of 650,000 barrels of crude a day.

It follows a row over supply and pricing.

Nigeria ’s crude oil is low in sulphur and, as one of the most prized in the world, fetches a higher price than many of its competitors.

Nigeria 's oil production has plummeted in recent years from around 2.1 million barrels per day in 2018 to around 1.3 million barrels a day in 2023 .

The NNPC has been stressing oil theft as the number one reason why production has dropped.

A feud between regulator and Dangote over supplies and pricing has rumbled on and morphed into another row with local fuel traders refusing to buy from the new refinery.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful