Nigeria’s Richest Man Confronts ‘Oil Mafia’ Amid Refinery Launch

The commencement of petrol production at Nigerian business magnate Aliko Dangote’s advanced $20bn (£15.5bn) oil refinery should represent a significant positive development for Nigeria’s economy in recent times. However, many Nigerians will assess its effectiveness based on two primary inquiries: first, “Will I get cheaper petrol?” The answer is likely negative, unless global crude oil prices decline. Second, “Will I still have to spend hours watching my hair turn grey in a hypertension-inducing fuel queue?” It is hoped that such days are over, though this outcome may partially hinge on the conduct of what Mr Dangote refers to as “the oil mafia”. Since oil’s initial discovery in Nigeria in 1956, the downstream sector, encompassing the refining of crude into petrol and other derivatives, has largely been characterized by illicit transactions, with subsequent administrations deeply implicated. Tracing financial flows has consistently proven difficult, yet a severe issue becomes apparent when a headline like “Nigeria’s state-owned oil firm fails to pay $16bn in oil revenues” appears, as it did in 2016. The state-owned Nigerian National Petroleum Company (NNPC) has only begun publishing its financial accounts within the past five years. Amaka Anku, the Africa head at the Eurasia Group think-tank, commends the Dangote refinery, where the NNPC holds a