The president of the African Development Bank Group, Akinwumi Adesina, has defended the Dangote Refinery against accusations of monopolistic practices.
In a statement shared by businessman Femi Otedola, Adesina emphasized that monopolies often arise in industries with high entry barriers or capital costs, like large-scale refineries.
He argued that Dangote’s 19.5 billion Dollars investment should not be undermined by importers.
Adesina highlighted the challenges of manufacturing in Nigeria and stressed that local industries should not be disparaged. He called for fair competition, encouraging importers to set up local refineries. Adesina warned that disparaging Dangote sends a negative signal to potential investors.
