Business News of Thursday, 1 October 2026

Source: www.dailypost.ng

Kenya Refinery: Obasanjo reveals French firm that tried to stop Dangote from succeeding in cement

Former President Olusegun Obasanjo Former President Olusegun Obasanjo

Former Nigerian President Olusegun Obasanjo has revealed that a French firm never wanted Aliko Dangote, President of the Dangote Group, to succeed in cement production.

He made this disclosure in his remarks at the groundbreaking ceremony of the Dangote East Africa Petroleum Refinery and Petrochemicals SEZ in Lamu County, Kenya, on Wednesday.

According to him, the French cement firm, Lafarge, allegedly put every obstacle in Dangote’s way to ensure that he did not succeed.

He, however, noted that Dangote weathered the storm and expanded his production to two African countries, including Senegal.

“The people who really didn’t want Aliko to succeed in cement production [were from] a French company called Lafarge, and they put every obstacle in Aliko’s way,” he said.

Africa’s richest man overcame the obstacles to launch his Kenya oil refinery, with a capacity of 700,000 barrels per day and an estimated cost of $16 billion upon completion.