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Aliko Dangote, President of Dangote Industries Limited, has said his company is prepared to face legal challenges arising from the ongoing dispute over petroleum product imports in Nigeria.
Dangote made the remarks during a fireside chat in Kenya, where he discussed his company’s expansion plans, investments and activities across Africa.
His comments come amid disagreements surrounding the continued importation of petrol and the operations of the Dangote Petroleum Refinery. The refinery is also involved in a legal dispute scheduled for further hearing in Lagos.
Dangote said court cases were part of doing business and maintained that his group would not be discouraged by legal battles. He also disclosed that Dangote Industries could reduce its stake in the refinery to about 25 per cent if more Africans become interested in acquiring shares.
The businessman further revealed plans for a new 700,000-barrel-per-day refinery in Lamu, Kenya, with the project estimated to cost between $15bn and $16bn and targeted for completion by 2030.
