Africa’s richest man, Aliko Dangote, has clarified that the Federal and State Governments did not provide incentives for his $20 billion refinery at the Lekki Free Trade Zone.
Speaking during a visit from the House leadership, Dangote revealed that he paid $100 million for the land.
Dangote emphasised, “We did not collect a single incentive from the Federal Government or Lagos State. We paid for the land.”
He also refuted claims that his companies enjoy a monopoly, stating that his businesses add value by using local raw materials and that the playing field is level for all operators.
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Dangote highlighted that his group did not prevent others from engaging in the same business and that labelling his companies as monopolistic is unfounded.
He pointed out that when Dangote Group entered the cement production industry, Lafarge was the only operator in Nigeria. “Nobody ever called Lafarge a monopoly,” he noted, adding that labelling his companies as monopolistic is disheartening.