Guess who is opposing Dangote’s proposal to build a 1.2M barrels a day refinery in east Africa (Tanzania, Kenya and Congo) World Bank and IMF. : ))) Their argument? it would give monopoly to one company over energy. 1) All the while, French refineries are in almost every oil producing countries in Africa. 2) No African countries could get a loan to build a refinery larger than 400,000 barrels per day (one of the most profitable businesses ever). So the majority are small and struggle for profitability. 3) Nigeria oil had to be exported to Europe, refined and in many cases sold back to Nigeria and ECOWAS countries, under companies like shell and total. 4) it took until a billionaire financed the refinery in Nigeria himself to change part of that production and supply pipeline. And today, after the Hormuz blockade, EU countries are now buying oil from Dangote.