For months, Where is Dangote?an influential Nigerian businessman, energetically denounces a “ oil mafia » which he accuses of sabotaging his ambitions by favoring imports of cheap products to the detriment of local production. Its megarefinery located in Lekki, in the south of Nigeriahowever, is beginning to impose itself.
On Monday December 30, 2024, his group announced a partnership agreement with Ardova PLC, a major player in the Nigerian petroleum products distribution sector. Owning nearly 700 gas stations across the country, Ardova PLC hopes that this agreement will ensure a stable supply of fuel at prices accessible. « This new framework institutionalizes a stronger relationship between the two companies, which will improve the emerging competitive landscape in the oil industry“, says the press release. Although the precise terms of the agreement have not been disclosed, it is expected that the refinery supplies refined products in bulk, strengthening a collaboration that could reshape competition in the Nigerian oil industry.
A few weeks ago, Where is Dangote? had entered into a similar agreement with Neptune Oila Cameroonian company, targeting the export of fuel to Central Africa. This collaboration was marked by the initial shipment of 60,000 tonnes of gasoline to Cameroon. These steps reveal Dangote Group’s ambition to capture a significant share of the regional market while satisfying national demand. At the same time, to avoid price increases during the end-of-year holidays, the group collaborated with MRS Oil Nigeria PLC to cap the price of a liter at 935 naira in its stations. This initiative was facilitated by Buy my sonhalf-brother of Aliko Dangote and main shareholder of MRS Oil Nigeria. The Lekki refinery is gradually establishing itself as a key player in the African energy economy. The Dangote Group plans to export more than half of its production to international markets while consolidating its presence in the domestic market.
