Abuja, July 9, 2025
Aliko Dangote, Africa’s richest man and founder of the Dangote Group, has sent an open letter to President Bola Ahmad Tinubu, warning against moves that could lead to a monopoly in Nigeria’s petroleum downstream sector.
In the letter, Dangote highlights growing concerns among 200,000 independent fuel retailers, represented by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN). The group asserts that Dangote’s downstream strategies, including potential takeover of public refineries and aggressive control of product distribution, threaten their survival by sidelining competition and harming job opportunities.
Dangote urged President Tinubu to:
1. Instruct investigative bodies – FCCPC and NMDPRA – to examine his company’s fuel distribution model.
2. Halt further private acquisitions of public refineries by major industry players.
3. Protect independent marketers, ensuring their competitive participation in the market.
4. Hold a stakeholder meeting involving government, PETROAN, IPMAN, Dangote Group, civil society, and unions to find a fair and inclusive solution.
Dangote’s move reflects his public stance on fair competition, despite his own massive investments—including the 650,000 barrels-per-day Dangote Refinery, praised by President Tinubu as a national landmark.
The letter positions Dangote not just as an investor but a watchdog of market fairness, urging the government to prevent concentration of power and preserve opportunities for smaller players. It also signals a call for transparent policy-making and immediate action against potential market dominance in the petroleum sector.
