According to Africa’s richest man, the Nigerian National Petroleum Company Limited needs to roll out massive investments in terms of oil and gas to meet the demand for these commodities.
Dangote made this call at the ongoing 2023 Annual Value Assurance Review Workshop of the Nigeria Upstream Investment Management Services Limited, where he also said the national oil firm should invest more because there were many off-takers waiting to off-take the products from the company.
His words: “I truly believe that NNPCL should be our African Aramco. You have what it takes to take you up there and I am very happy. There is nothing impossible. You can make it possible and don’t let anything scare you.
“It is just the same thing with us. If I tell you about our own story, you will be shocked as to how. It wasn’t only the refinery that we started about six years ago. We had 32 projects that we all rolled out at the same time.
“But then, on the way we had lots of hitches here and there, the devaluation of the currency, COVID, and challenges of infrastructure set in. If you want to do a real project in Nigeria, you have to look at the infrastructure that we have, because the infrastructure we have is not meant for mega projects.”
He said it was important to look at the infrastructure in Nigeria and see “how we can take ourselves to the next level and it has to be driven by NNPCL because they are the largest conglomerate and whatever happens to NNPCL’s assets, it actually happens to us, either directly or indirectly.”
