Oil mafias stronger than drug mafias

Oil mafias stronger than drug mafias - Dangote

By Adedayo Osho

Cartels, mostly referred to as 'Mafias,' are more dominant, stronger in the oil sector than in the drug business network, billionaire businessman Aliko Dangote said.

Dangote, 67, disclosed this while responding to an interviewer in the sideline of the recently concluded 31st African Export-Import Bank (Afreximbank) Annual Meetings held between June 12-15 in Nassau, Bahamas.

African Export-Import Bank is a Pan-African multilateral financial institution instituted to finance, facilitate and promote intra and extra-African trade.

Reacting to a question on any attempt by the mafias to sabotage his investments, the Africa's richest man said "I am a person that have been fighting all my life. It is part of my life to fight." He added that in those circumstances, "We end up winning, because the population and government would always be on our side for doing the right thing."

Dangote believes there is no support from the West in transforming the structure of Africa's trade or accelerating industrialization in the continent.

Citing the construction phase of his Dangote Refinery as an instance, he shared that "During the COVID-19 pandemic, some of the international banks were looking forward to pushing us into default of our loans, so that the project would just be dead."

Recall TheTraffic NG reported on Wednesday about fire outbreak in few portions of Dangote Refinery facility situated in Lagos.