The Traffic

"Nigeria's Industrialization Jewel Under Attack: Akinwunmi Adesina Weighs In On Dangote Refineries Debate"

In a passionate defense of Aliko Dangote's refinery project, Akinwunmi Adesina, a renowned economist and former President of the African Development Bank, has slammed the recent backlash against the industrialist as "shocking" and "bad for Nigeria".

Adesina argued that the criticism of Dangote's refinery as anti-competitive is unfounded, pointing out that the company has not prevented others from setting up refineries. He emphasized that the refinery is a significant investment in Nigeria's industrialization and domestic supply security, creating jobs and reducing forex expenses.

He cautioned against undermining local industries, stressing that it sends a negative signal to potential investors. Adesina's intervention has sparked a fresh debate on the importance of supporting indigenous industries and the need for fair competition in Nigeria's economic landscape.