Billionaire industrialist Aliko Dangote has revealed that his decision not to acquire Mobil, Africa Petroleum (AP), and Oando during their sale was driven by concerns about being accused of monopolizing Nigeria’s oil sector.

Speaking at a recent media parley, the chairman of Dangote Group explained that although the opportunity to purchase the three petroleum distribution firms came while his 650,000 barrels-per-day refinery was still under construction, he chose to focus strictly on refining rather than downstream retail.

According to him, the combined purchase would not have exceeded ₦500 million at the time, but fears of being branded a monopoly made him step back. “Our plan was to concentrate on production and allow marketers to handle distribution,” he said, adding that his company had expected a smooth partnership with retail operators once the refinery became operational.

The business mogul, however, signaled readiness to take on industry rivals if pushed. “I have faced challenges all my life, so I’m not new to battles,” he noted.

His comments come amid ongoing tensions between Dangote Group and the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG). The union has accused the refinery of anti-labour practices in its fuel distribution operations, claims which Dangote has consistently denied.

Despite objections from some stakeholders in the downstream sector, the Dangote Refinery recently rolled out its nationwide fuel distribution scheme, a move seen as a major shake-up in Nigeria’s petroleum market.