Dangote Refinery Challenges Global Narrative
Aliko Dangote was dealt a bad hand in a failed transaction. Later, he vowed revenge. Not in a pound of flesh, but by venturing to make his own success where he had been ambushed. At issue was the decision of the government of Umaru Musa Yar’Adua in 2007 to reverse the sale of the Port Harcourt and Kaduna Refineries (two of Nigeria’s moribund refineries) to Blue Star, the Dangote-led consortium. Blue Star had paid about $670 million for the plants in the twilight of the Obasanjo administration and gone away thinking it was a done deal. It wasn’t.
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