Aliko Dangote, Africa’s wealthiest man and President of Dangote Group, has raised eyebrows with a bold claim that the oil industry mafia holds more power than drug cartels. Dangote made this statement during an exclusive 25-minute interview with Bloomberg Television on Monday.

During the conversation, Dangote revealed that his highly anticipated Dangote Refinery is on the verge of finalizing an agreement with the Nigerian Federal Government on the pricing of petroleum products, particularly Premium Motor Spirit (PMS).

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When asked whether Nigerians can expect lower fuel prices from his refinery, Dangote hinted at a positive outcome, stating, “Well, yes, most likely.” He elaborated, “In business, I’ve come to realize that the oil mafia is even more formidable than the drug cartels. It’s a massive cartel, and they might attempt to undermine the success of this refinery by selling fuel at cheaper rates. But they can no longer do that since transactions can’t be made in local currency, whereas we can.”

Dangote assured that the Dangote Refinery has the capacity to fully supply Nigeria’s fuel needs, with potential to exceed domestic consumption. Confident in reaching a deal with the government, he added, “We will certainly secure an agreement. The president has already announced that operations will begin on October 1st. I’m optimistic that a clear and final agreement will be reached in the coming days.”