Aliko Dangote, Chairman of Dangote Group, has revealed that the reason he didn’t acquire Mobil, Africa Petroleum (AP), and Oando petroleum distribution companies was to avoid being labelled a monopoly. Dangote made this disclosure during a recent media briefing amid tensions between his company and the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG).

“We didn’t want to go into retail. It was during the time we were building this refinery that they sold Mobil, AP, and Oando. We could have bought them, the three of them didn’t cost 500 million,” Dangote said. He added, “If we knew this was going to happen, maybe we would have done it the other way. But we didn’t want to be called a monopoly, that’s why we left that side. Restrict ourselves to production, they will become our customers, and we will have a nice party together.”

Dangote, however, warned he’s prepared for potential conflicts in Nigeria’s downstream oil sector. “But if they are looking for fights, I have been fighting all my life,” he stated.

The Dangote Refinery, with a capacity of 650,000 barrels per day, has begun nationwide fuel distribution, sparking clashes with NUPENG over unionisation and alleged anti-labour practices, which Dangote denies.