I Don’t Intend to Acquire Filling Stations—Dangote Declares

By Aduragbemi Omiyale

Africa’s richest man, Mr Aliko Dangote, has emphasised that he has no plans to play in the retail petroleum market at the moment, saying his major focus is to ensure the country continues to enjoy sufficient supply of petroleum products, ending 50 years of fuel queues.

Speaking at a press conference to mark the first anniversary of the launch of premium motor spirit (PMS), commonly called petrol, from his Lagos-based crude oil refinery, the businessman noted that he declined opportunities to acquire filling stations when they were offered for sale.

There had been fears that Mr Dangote could venture into the retail end of the petroleum industry by acquiring petrol stations to compete with others.

At the moment, he only supplies petroleum products to existing players in the sector, with the prominent off-takers being MRS Oil Nigeria, a company believed to be owned by a relative of Mr Dangote, Mr Sayyu Dantata.

The others buying petroleum products from Dangote Refinery include Ardova Plc, Heyden, Heyde, Optima, and Techno Oil.

Mr Dangote has been having issues with some stakeholders in the industry because of his decision to supply the products directly to consumers, especially petrol stations across the country.

He acquired about 4,000 CNG-powered trucks to lift petroleum products from his refinery to filling stations and others consuming a significant volume of the products.

The businessman said the company’s CNG truck drivers could apply for and get a housing loan after five years of working and not being involved in any accident and that it is optional for them to join any of the labour unions.

“We are not trying to take anybody out of the market. These trucks that we launched didn’t stop anybody from their work…You are saying there will be a loss of jobs, will our own tankers be driven by robots?… We have not displaced any jobs; we are creating many more…Our employees earn salaries three times the minimum wage. Our drivers receive a living wage, life insurance, health insurance covering themselves, their spouses, and up to four children, as well as a lifelong pension. We are not only employing drivers but also mechanics, fleet managers, and other professionals to support the CNG fleet,” he stated.