Dangote's Bold Moves Reshape Nigeria's Oil Landscape
Aliko Dangote's $20 billion oil refinery in Nigeria aims to disrupt the country's corrupt and inefficient oil sector, historically dominated by a few powerful players. Despite hopes for cheaper fuel, local prices will still depend on international crude costs. The refinery's impact is complicated by ongoing disputes with regulators and traders, as well as Nigeria's broader economic challenges, including currency depreciation and fuel shortages. While the refinery could improve fuel quality and transparency, the transition is fraught with tension and uncertainty.