July 24, 2024
The lingering feud between NNPCL and Dangote group, has continued to generate concern from well meaning Nigerians, the presidential candidate of Labour Party in the 2023 general election, Peter Obi and President of African Development Bank, AfDB, Adewunmi Adesina, have expressed concern over the feud regarding Dangote Refinery.
While Obi in a series of tweets on his X handle, urged the Nigerian National Petroleum Corporation Limited and other government agencies to tread with caution in handling whatever dispute they have with Dangote because of the far reaching implications of their actions on the economy and the country, Adesina described the issue as shocking and creating bad waves for Nigeria globally.
Their reactions came on a day the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, said he didn’t own a blending plant outside Nigeria, in apparent response to allegation by the Dangote Group.
Obi, noted that the Refinery deserved full support to operate and not vilification:
‘’The recent conflicts between Dangote Industries and some government agencies are deeply troubling.
“This issue transcends political affiliations and personal grievances. It is fundamentally about Nigeria’s economy, future, and the well-being of its citizens. Given Alhaji Dangote’s significant contributions to Nigeria, these disputes must be resolved swiftly.
“Government agencies should be directed to offer the necessary support for the seamless launch and operation of the Dangote Refinery and its associated enterprises.
“The refinery has the potential to generate approximately $21 billion in annual revenue and create over 100,000 jobs, with numerous additional positive impacts on the economy.
“Its strategic importance in addressing Nigeria’s fuel crisis, boosting foreign exchange earnings, and fostering economic growth cannot be overstated.
“The refinery is too vital to fail and must not be hindered, considering its crucial role in our national welfare.
“The Federal Government and its agencies need to recognize the significance of Dangote’s contributions. Alhaji Dangote is not just a businessman; he is a national and African brand symbolizing patriotism, commitment, and impactful entrepreneurship.
READ MORE; AfDB invests $10.9bn in Nigeria
‘’Despite operating in a challenging business environment, he has established a remarkable industrial hub in Nigeria, encompassing over 15 sectors, including cement, sugar, salt, fertilizer, infrastructure, tomatoes, automotive, energy, petrochemicals, rice, poly sacks, real estate, mining, logistics, and maritime.
“Alhaji Dangote’s unwavering dedication to Nigeria’s industrialization, job creation, and economic growth, despite adversities, warrants full support and protection.
On his part, Adesina, said the disparaging of Dangote was uncalled for, saying “it is self-defeating and very bad for Nigeria.
“Who will want to come and invest in a country that disparages and undermines its own largest investor?”
The AfDB boss said: “Competition is good for everyone but is Dangote refineries anti-competitive? What is the evidence?”
He said monopoly often existed where there were high barriers to entry or high capital costs.
“How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries? He queried.
Adesina said in a nation that had been importing refined petroleum products for several decades, the abnormal simply became very normal.
“No smart investor would make a $19.5 billion investment and want it to be undermined by importers.
He added that Dangote refinery was more than simply delivering the cheapest product to the market, stressing that “it is about domestic supply security, driving (and yes, protecting) globally competitive industries, maximizing forward and backward linkages in the local economy, job creation, reducing forex expenses and shoring up the Naira.
Femi Otedola, billionaire businessman, said in a post on his X handle Tuesday afternoon said, “Aliko Dangote is also the largest private sector employer of labour in the country, and his companies are among the largest taxpayers.
“In fact, the Dangote Group often pays more in taxes than the top banks combined. If not for him, we would still be importing cement. His contributions extend beyond industrial facilities to critical infrastructure, having built major roads such as the Apapa Oshodi-Owonrosoki Express Road, Wharf Road, and the Obajana-Kabba Road.”
“Countries in the nascent stages of industrialization require visionary leaders. This is why it’s no surprise that the United States was built by the vision and tenacity of a few remarkable individuals—Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan, and Henry Ford—The Men Who Built America’s industrial landscape. These men left the world without these assets but left behind a legacy that has kept their country thriving generation after generation.
“In Nigeria, we have our own titans, and it is imperative that we recognize and support them. His contributions are not just a testament to his brilliance but a beacon of what is possible when vision meets opportunity. Supporting local champions like Dangote is crucial for our national development and economic independence. Let us continue to foster and support these visionaries who drive our nation’s progress,” he wrote.
On the allegation of owning a blending plant, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, has said he does not own any outside Nigeria.
Kyari statement, is in reaction to claims by President of the Dangote Group, Alhaji Aliko Dangote, that some officials of the NNPC had blending plants in Malta.
