Nigeria’s one and Only goat is proving too difficult for Dangote’s snake to swallow*
1 Dangote wanted to take over NNPC assets at the dying hours of Obasanjo’s administration, President YarAdua thought it was not proper to hand over the nation’s assets to two individuals, who wanted to buy it as scraps then. Consequently, the contract was scrapped by YarAdua.
2 Buhari/Emefiele came in and provided ENOUGH OXYGEN for Dangote to “complete’ the refinery and even paid 70% of his loan on a factory that was yet to refine one litre of gasoline according to the embattled CBN Governor, Emefiele It was commissioned even when it was not ready by Buhari and Emefiele. Some hidden truths that are not known to us, here
3 Meanwhile, Buhari had made substantial forward Oil sales that would prevent Dangote from getting crude without breaking the existing contract. Here, the dead body was not properly buried, a protruding toe could be seen.
4 *Apparently, all is not well with that Project abnito* Some TRUTHS are hidden, some things buried by CBN were not carefully done. It seems what took Dangote to the top can no longer sustain him at the top ,i.e. MONOPOLY. IOCs, NNPC, CBN, Nigerians are all asking different questions from different perspectives
5 In 100/100 circumstances, MONOPOLY is injurious to the health of any national economy. OLIGOPOLY is a state policy in South Korea, the State deliberately empower some individuals to create wealth, people like DAWOO, SAMSUNG etc. But the rule of LAW is SACROSANCT. DAEWOO, once the richest South Korean ended up in jail when he broke the law. CEO of Samsung was sent to jail recently for law breaking. That’s why Jack Ma, (Alu Baba) , Chinese richest man ran into trouble in China. He teaches in a university today That’s why Google and Microsoft ran into trouble in the West. Monopolists ( ALL OF THEM ) build their wealth through unfair exploitation of Commonwealth. 10 years ago I went to Texas, USA and got a license on MODULAR REFINERY . NNPC hosted about 50 of us , the applicants at Presidential hotel Port Harcourt to a Workshop on how to successfully run modular refinery. The first shock I got was that the first 15 people licensed by the federal government to operate Modular refinery failed because NNPC could not give them crude. The 2nd shock I got were from my bankers who told me point blank that *since Alhaji is planning to go into petroleum refinery, we can’t give you financial support because competing with Alhaji is like standing in front of a moving train* That ended my ambition in that business. I counted my losses and moved on. And the Banks gave examples of people who stood in front of Alhaji’s moving train and what happened to them. BUA came out recently to share his own side of the story
6 I truly want Alhaji to succeed because if he does, it has positive implications on the economy and vice versa.
7 *However, the OIL BUSINESS belongs to 220 million Nigerians: It is not just a BIG GOAT but it is Nigeria’s ONLY GOAT*
8 NNPC probably has realized the full implications and that’s why they refused to pay up their counterpart funding to acquire 20% equity as earlier agreed.
9 What should Alhaji do in this circumstance that will be win-win? Alhaji should come out publicly and sell at least 49.5% equity to Nigerians in a transparent manner. Only him can’t swallow Nigeria’s only goat, it will CHOKE him The goat is already hanging in the middle of his throat: It is not going down to his stomach and it is not possible to formit it.
10 Even in Saudi Arabia, ARAMCO was sold to the whole world and Saudi government became better, thereafter. It is not a question of selling small shares like Alhaji did with cement, he has to turn over the company -to be co-owned by Nigerians, who are the real owners of all the wealth in the first instance. Bill Gates owns bearly 5% of Microsoft. He faced the same problem Alhaji is facing today years back because for Microsoft to stand so many IT companies collapsed. Gates faced dozens of Antitrust court cases in America and Europe. But when he did the needful, peace came to him If Alhaji shares the wealth (49.5%) with the real owners of the wealth – Nigerians, that refinery will work because by then, it will become *OUR REFINERY It is impossible for “our refinery” to fail but highly likely for Alhaji’s refinery to face unending, insurmountable challenges* *My two cents*!
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