Dangote Doubts Investor Interest in Nigeria's Refineries Due to Regulatory Challenges

Aliko Dangote, the President and Chief Executive Officer of Dangote Group, voiced skepticism about investors showing interest in Nigeria's three state-owned refineries. He highlighted the deep-seated regulatory and investment challenges within the sector, attributing them to policy errors of previous administrations.

Dangote emphasized the need for a conducive business environment to attract serious investments, especially in refinery operations. The refineries, located in Warri and Kaduna, have a combined processing capacity of 445,000 barrels per day but have faced operational difficulties, leading to heavy dependence on imported petroleum products.

Dangote also mentioned plans to list his refinery on Nigeria's stock market to enhance local ownership and participation.