1. Is it possible that dangote is not getting the expected returns from his investment in the refinery sector and wants to sell it out to the government now that it's not yet obvious that the company isn't able to to be sustainable in the long run.
I wanted to write about this pressing issue and then I came across this. I believe majority of us are not paying attention to this issue or probably do not know why Dangote is facing backlash with his multi billion dollars refinery. It's a topic worthy of discussion because it deals exclusively with our economy.
It's sad to see that our government is frustrating Dangote effort to start operating his oil refinary simply because they chose politics over our economic improvement. Dangote has actually enjoyed preferential treatment from previous governments because of his close tie with them.
To this government, their idea is a reflection of capitalism where the economy is driven by profit maximization. Tinubu is a capitalist and he understands the tenet of a free market economy including allowing competition. Unfortunately, Dangote does not seem to have a close relationship with the present administration. Nigeria is just like united state of America that focus more on political power than having sole interest in the economy like China.
The success of this refinery would contribute to our socioeconomic growth and our overall GDP. Issues like this are the reason why many foreign companies find it difficult to invest in Nigeria and the home companies failed to thrive while the few ones operating are dancing to government tune.
My concern is if the government frustrates their own indigenous investor like Dangote, what message does that send to other foreign investors attempting to come and invest here?
