By Theophilus Keme:
The current feud between Dangote and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) is one I had forewarned about, even before Dangote voiced out that 'cabals' were fighting against him.
I had hoped that a campaign from Nigerians, most especially the youths, online and offline, with the hashtag #SupportDangoterefinery, would create awareness and send a message to those opposing the refinery's operation, scheduled for mid-July. Although I tried to rally support, it seemed no one else campaigned about it as much as we should have to avert this situation.The current case faced by Dangote is not one that is empathized by everyone, with some calling it a failed tactic. Meaning, Dangote is only having a taste of his own medicine, of how his alleged monopoly political tactics of gaining freewill from the Nigeria Government to operate his businesses isn’t working for him in this present Tinubu regime.
Well, however true that claim might be, it is disappointing and annoying that despite Dangote's efforts and sacrifices to establish this project, some agents still wish to make things difficult for the refinery, affecting Nigerians.
Note this crucial fact, without Nigerians totally knowing the details of the agreement stroked between Dangote and the government before they agreed to put a signatory to commencing the project, it is clear that serious negotiations had took place. And it will be totally unethical of contract for either of the parties to now deviate from the initial agreement or demand more incentives due to futuristic estimations. Every businessman aims to deliver quality and avoid losses, so Dangote's actions in his business catalogs perhaps are understandable, because he is not running a charity, not especially if he had paid stupendously to federations account for him to get a pass for all his business operations. He is a business man.
Mind you, I'm not supporting or opposing the purported 20% agreed shares stakes reduced to 7%. Instead, I advocate for a decision that reduces the current price of PMS and other byproducts, benefiting the country. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) CEO's statement which had made this current feud prominent is one that could have been avoided, as no investor or businessman would be quiet about an agency calling their products to have inferior quality. This claim by NMDPRA CEO's against Dangote refinery sparked reactions, but Dangote dismissed it, calling for an independent test of Dangote refinery's diesel product.
Although from all indication, it seem the mid-July launch date may no longer be possible, but it's however commendable that the Senate has set up an ad-hoc committee to address the challenges facing Dangote Refinery and the oil and gas sector.
Despite accusations against Dangote, it's essential to recognize that he chose to build this multimillion-dollar project in Nigeria, which could have been built elsewhere in Africa and just might have been reverenced as a monarch and be giving all necessary support by the government to see it succeeds. Nigerians and Government authorities in the industry should rather be more interested in scaling up domestic production rather than deepening the corruption-riddled importation of petroleum products. Governments should provide support to all domestic refiners as a way of encouraging its own than allowing agents to want to make things difficult for Dangote refinery. The success of Dangote refinery, believe it or not, is a pathway to energy independence, energy security, conservation of our foreign exchange, building our foreign reserves and deepening backward integration in the Nigerian economy.
May this situation lead to a beneficial outcome for the country.
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