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Dangote dares wealthy Nigerians: Bring your money in Dubai, invest here like me
President of Dangote Industries Limited (DIL), Aliko Dangote, on Saturday, challenged wealthy Nigerians to bring back their monies abroad and invest at home, as he has consistently done over several decades, pushing back at allegations that he is monopolising the Nigerian economic climate.
Dangote, Africa’s richest man, who spoke on a day he took members of the House of Representatives round the mega 650,000 refining capacity Dangote Refinery built in Lagos, which authorities in the oil industry sector claimed on Friday, was churning out low-quality products.
“There are many other Nigerians who have more cash than us. They should bring that money from Dubai and other countries to come and invest in their own fatherland,” he told reporters during the visit, led by Tajudeen Abbas, Speaker of the House of Representatives and Benjamin Kalu, his deputy.
Farouk Ahmed, Chief Executive Officer (CEO), Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), in what seemed an indictment on the operation of the refinery which many Nigerians had seen as the gamechanger with regards to the difficulty in the availability and price of petroleum products, had on Thursday said the 650,000 barrels per day Dangote refinery was neither completed nor licensed for operations.
Debunking earlier claims by Dangote that its operations were deliberately being frustrated by the International Oil Companies (IOCs) by refusing to sell crude to them, Ahmed, who spoke to State House Correspondents, at the Presidential Villa in Abuja, dismissing the allegation as untrue, disclosed that the products from the refinery were inferior to those currently being imported into the country, besides accusing the company of angling to monopolise the industry.
But pushing back again, Dangote, practically tested the products from his company before the delegation, using diesel bought from two filling stations on their way to the refinery located at the Lekki Free Trade Zone in Lagos, with the company’s samples taken from production also in the presence of the lawmakers.
Channels Television, confirmed that two tests were conducted, one for sulphur level and another a flash test, adding that while all crude-based products contain some level of sulphur, high sulphur levels cause damage to engines and vehicle components.
In the end, according to the report, the results showed that the sulphur content in the diesel from other stations was above 2,631 and 1,829; much higher than the recommended level while the tests for the flash point, which refers to the lowest temperature at which the application of the ignition source causes the vapours above the liquid to ignite with the minimum expected flash point at 66, showed results of 26 and 63 respectively for the diesel from other stations. Both results fell short of the recommended minimum of 66.
Commenting on the outcome, Dangote noted that the result, which turned out to be 87.6 ppm for sulphur and 96 flashpoints, did not only show the reality of products from his refinery, but the substandard petroleum products are being imported into the country and sold to unsuspecting Nigerians.
Dangote, who decried the damage being done to vehicles and engines by substandard products, called on the lawmakers to investigate the quality of diesel and petrol at filling stations, urging them to set up a committee to test products at various filling stations across the country, as well as the quality of laboratories being used to test imported products and compare them with the one at his refinery.
Also debunking allegations of monopoly as totally unfounded, he said: “If you look at all our operations at Dangote (Group), we add value. We take local raw materials and turn them into products, and we sell. We have never consciously or unconsciously stop anybody from doing the same business that we are doing.
“When we first came into cement production, it was only Lafarge that was operating here in Nigeria…Nobody ever called Lafarge a monopoly. Monopoly is when you stop people, you block them through legal means. No, it is a level playing field whereby whatever Dangote was given in cement, for example, other people were given because some of them even got more than us.”
In fact, the billionaire business tycoon maintained that his refinery did not enjoy any incentive from the Federal Government, adding: “In the refinery, we did not, and I repeat, we did not collect one single incentive from the Federal Government of Nigeria or even Lagos State. Yes, the Lagos State gave us a good deal but we paid $100m for the land. It wasn’t a free land; we paid for it. Majority of the population are with us. So, we are not discouraged, we will continue what we are doing.
“The most important thing, your excellency, is to note that the imported one they are encouraging, is the spec in test, but in certain cases when you check (independently), different results will show. This is because those people who have the lab have been told what to write. The best way to determine the quality of products being imported and sold to Nigerians is by going to the filling stations, buying and testing them.
Abbas, while acknowledging that by the presentation and the contradictory claims, there was a need for an investigation, told his host: “I don’t know how we have this contradiction of two players representing the public and private sector. I think it is something we need to investigate further to find out if there are ulterior motives.”
The Independent National Electoral Commission (INEC) has appealed the judgement of the federal high court in Abuja nullifying the timelines issued for the conduct of party primaries and the nomination of candidates.
Alex Izinyon SAN, leading a team of lawyers of the commission in a notice of appeal dated May 25, raised nine grounds it urged the appellate court to consider and vacate the judgment the Federal High Court in Abuja delivered on May 20.
Apart from raising the issue of jurisdiction, which it said the lower court did not determine, INEC also maintained that the legal action the Youth Party (YP) initiated against it was not only hypothetical but academic.
Arguing that failure of the trial court to make pronouncements on the issues, resulted in the denial of fair hearing to the Appellant, the commission also stressed the lower court misinterpreted the provisions of the electoral act.
It said: “The high court erred in law when it held that: ‘It is clear from the wordings of Sections 29(1), 82 and 84 of the Electoral Act, 2026, the following can be understood. Section 29(1) of the Electoral Act, 2026 mandates Political Parties to submit the names of candidates in prescribed forms of the candidates who emerged from its valid primaries which such a political party intends to sponsor at the elections, not later than 120 days before the date of the General Election.
“What is required of Political Parties to do under the Electoral Act, 2026 is to notify the Independent National Electoral Commission (INEC) 21 days before the holding of its primaries, congresses or conventions, days before the holding of its primaries, congresses or conventions, or any conference or meeting convened for the election of its executive committees, other governing bodies for nominating candidates.
“The Defendant is not mandated to impose a timeframe for political parties to conduct their primaries provided that it will be done and submitted not later than the 120 days provided by the Electoral Act, 2026. See Section 82(1) of the Electoral Act, 2026.”
It was another day of misery in Kwara State, when daredevil terrorists reportedly stormed Yashikira Community in Baruten Local Government Area of Kwara State, and as has been the case in many of the attacks, abducting scores of residents including women and children.
But, apparently to register their authority, the gunmen, who were said to have operated for hours without challenge from the security operatives, were said to have torched the palace of the Emir.
The attackers, which reportedly occurred late Sunday night were said to have announced their presence through heavy firing and after storming the palace of the monarch during the period, set it on fire before whisking away their victims, but a similar attempt at the police station in the community, was repelled.
While some of the residents, narrated how the spent hours without resistance, leaving behind destruction and fear in the border community, another account said the villagers were caught unawares as the gunmen invaded the town under the cover of darkness.
However operatives made up of the police and military personnel, were said to have launched a manhunt immediately for the immediate rescue of the victims, including throwing a cordon in the area as part of the mission.
“The suspect offered ₦500 million to the SPU commander in an attempt to make the team stand down and allow him to contact his associates to move the consignment elsewhere. The offer was rejected immediately and properly documented for further investigation.”
These were the exact words of Olohundare Jimoh Assistant Inspector General of Police (AIG), with which he detailed how operatives of the Zone 2 Command of the Nigeria Police Force (NPF) scoffed at a N500million bribe to turn their eyes off the importation of a huge consignment of drugs imported into the country.
This was part of the details of a major breakthrough by the operatives after bursting a major drug trafficking syndicate in Lagos, which led to the seizure of suspected illicit drugs estimated at ₦7.8 billion and arresting several suspects, including the alleged kingpin.
In the operation, reportedly carried out by officers of the Special Protection Unit (SPU) in collaboration with divisional police detectives, the operatives, were said to have stormed a house in Mende, Maryland area of Lagos, following months of surveillance and intelligence gathering coordinated by the Zone 2 Headquarters.
The recovered drugs consisted of hundreds of bags of suspected Canadian Loud, allegedly stored in the residence of the prime suspect, Jimoh, said disclosing that the suspect was apprehended on May 19 after weeks of strategic monitoring by operatives.
Offering further details, he said the operation was executed with technical support and guidance from the Inspector-General of Police, IGP Olatunji Disu, alongside coordinated efforts between the SPU and divisional police teams.
Jimoh revealed that during the operation, the suspect allegedly attempted to bribe the SPU commander with ₦500 million to compromise the mission and allow the movement of the drug consignment.
The AIG described the development as a reflection of the renewed professionalism and operational discipline being entrenched in the Force under the current policing strategy.
He noted that the success of the operation underscored the importance of deploying specialized police units alongside conventional divisional teams in tackling organized crime.
According to him, the operation demonstrated the effectiveness of rapid containment strategies, intelligence-led policing, and professional conduct among the operatives involved in the raid.
“Rapid containment was achieved as the Special Protection Unit worked with divisional teams to secure the perimeter and prevent escape or interference with evidence.
“The operation was intelligence-driven, following months of surveillance and technical monitoring before the raid was carried out.
“The immediate rejection and documentation of the bribe attempt also reflect the standard expected from redeployed personnel at the divisional level,” Jimoh added.
Reacting to the development, the Inspector-General of Police, IGP Olatunji Disu, commended the operatives for their professionalism, saying the success of the operation validated the ongoing redeployment of personnel to divisions and units across Lagos and Ogun states.
The IGP noted: “Policing must be close to the people, and our specialized units must work side by side with divisional teams on the ground.
“The professionalism shown by the SPU commander in rejecting a ₦500 million bribe and following due procedure is the standard we expect. It shows that when you put your best foot forward at the grassroots, you get results and restore public trust.”
Disu further assured that the Force leadership would continue to reward integrity while holding officers accountable to the highest ethical standards.
Police authorities said exhibits recovered during the operation have been properly documented and will be tendered in court. The suspects are currently in custody while investigations continue to track down other members of the drug trafficking network.
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