Tinubu, Dangote Meet, Discuss Energy Sector Challenges

President Bola Tinubu received billionaire businessman Aliko Dangote at the State House in Abuja on Tuesday evening for a private meeting.

Although brief and undisclosed, the meeting underscores the federal government’s ongoing support for private-sector-led growth in the oil and gas industry.

The engagement followed Mr Tinubu’s June visit to the 650,000-barrel-per-day Dangote Refinery and Petrochemicals complex in Lagos.

Earlier on Tuesday, Mr Tinubu welcomed delegates to the West African Refined Fuel Conference via a post on his official X handle.

He stressed Africa’s urgent need to take a stronger position within the global energy markets and reduce dependency on external pricing.

“Africa can no longer be a price taker. We must set transparent benchmarks that reflect our true value and protect our economies,” Mr Tinubu posted.

He also revealed that Nigeria is collaborating with regional partners to create a unified African energy market.

“From refining to regulation and trade flows, we’re building a market that rewards production and secures energy for our people,” the president said.

During the conference, Mr Dangote addressed key structural problems affecting refinery developments across the continent.

In a presentation titled ‘Building an African Refinery Hub: Prospects and Challenges’, he outlined persistent difficulties.

“Besides poor infrastructure, our biggest problem lies in rent-seeking throughout the petroleum value chain across Africa,” Mr Dangote explained.

He noted the sector’s long-standing vulnerability to corruption and exploitation by vested interests.

“When a refinery disrupts this setup, it challenges powerful forces determined to resist and maintain the status quo,” Mr Dangote stated.

(NAN)

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