Dangote wanted to take over NNPC assets at the dying hours of Obasanjo’s administration but President Yar’Adua thought it was not proper to hand over the nation’s assets to two individuals who wanted to buy them as scraps. Consequently, the contract was scrapped by Yar’Adua. Buhari/Emefiele came in and provided ENOUGH OXYGEN for Dangote to “complete” his own refinery and even pay 70% of his loan on a factory that was yet to refine one litre of gasoline! It was commissioned by Buhari even when it was not ready!

Meanwhile, Buhari had made substantial forward oil sales that would prevent Dangote from getting crude without breaking existing contracts. Apparently, all is not well with that project ab initio. It seems what took Dangote to the top can no longer sustain him there: i.e. MONOPOLY. IOCs, NNPC, CBN. 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 empowered some individuals like DAEWOO, SAMSUNG to create wealth. But the rule of LAW is SACROSANCT. DAEWOO, once the richest South Korean, ended in jail when he broke the law. The CEO of Samsung was sent to jail recently for breaking the law. That’s why Jack Ma (Ali Baba), China’s richest man, also ran into trouble in China. That’s why Google and Microsoft ran into trouble in the West. Monopolists (ALL OF THEM ) build their wealth through unfair exploitation of the Commonwealth…

Nigeria’s OIL BUSINESS belongs to 220 million Nigerians: It is not just a BIG GOAT but Nigeria’s ONLY GOAT. 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. What should Dangote do in this circumstance? He should come out publicly and sell at least 49.5% equity to Nigerians in a transparent manner. Only he can’t swallow Nigeria’s only goat, it will CHOKE him! Even in Saudi Arabia, ARAMCO was sold to the whole world and the Saudi government became better thereafter.