Will you gamble with all that you have to build a $25 Billion Refinery and fold your hand and watch self-interest as shown by this Farouk person pouring water on it?
My issue is with Dangote’s competitors, who saw him design and build this Refinery, and yet, despite the billions they claim to spend on strategy, forecasting, and scenario planning, didn’t know that with that size, Dangote was going to suck out the oxygen from their operations
From what we are seeing in the last few days, Dangote seems to be going in for the last fight
The demonisation of Farouk, that crashing of prices, even with pain to him, the seaizing of distribution with threat to drop another 4,000 trucks and his personification of the fight
At this point, I may now pull back and take another look at my continued support of Dangote
The spectre of a 100% control of energy end-to-end by one entity throws up security challenges that we can ill afford and puts tremendous power in the hands of a newly minted Oligarch
Dangote may have hidden behind a push for public love to assume tremendous power, achieving this with periodic price crashes, a seizure of distribution and a savvy media play
The onus is now on the Government to step in and effect robust reforms in regulation, throw in incentives to others to immediately start the process of owning their own refinery capacity if they want and also look at loosening the hold of Dangote on distribution.
A market with one dominant player can never be the best.
Granted, importation is no longer a viable alternative, the emerging market must be opened for all major players.
Much as I like Aliko Dangote, I must say very categorically that what I am seeing evolving is not making me confident of free and fair play in the open market
People like Farouk and the near-sighted behaviour of competition have gifted Dangote a very strategic sector, which in the mid to Long term will not augur well for Nigeria with all that power in one man’s hand.
I will speak some more as events unfold. For now, let me go and eat afang and gather strength
Do you feel like beating me?
Duke of Shomolu
Last modified: December 17, 2025
