By Isah Aliyu Chiroma
There has never been a thinner line between pioneer and monopolist than in the case of Africa’s richest man, Aliko Dangote. Judging by the standard of analysis in Nigeria, an elite could be guilty of both, depending on the narrative that best suits the objectives of the observer.
The Dangote Refinery, with a capacity to process 650,000 barrels of crude oil per day, promises to transform Nigeria’s oil industry, which has long been plagued by inefficiencies and reliance on imported petroleum products. This achievement, however, will come with challenges ranging from saboteurs, cabals, and to a large extent, even citizens who chant the monopoly anthem.
The past week has seen a silent gladiator, Aliko, who’s rarely in the press, now having to grant interviews to defend against innuendo labels. Critics argue that by controlling such a large portion of Nigeria’s oil refining capacity, Dangote could exert undue influence over the market.
The bigger question is: in a nation in dire need of industrialization in various sectors, does the flaw of monopoly stand as a debate to have now? Knowing fully well that a large percentage of wealthy businessmen wait for a pioneer to chart the course and provide a template for success.
It’s best to say the pendulum swings largely in Aliko’s favor as a pioneer, as there has been no evidence to suggest this project is not in the best interest of Nigeria’s development. Furthermore, the refinery has reiterated that it will adhere to regulatory standards and operate transparently to ensure fair competition and pricing.
Historical precedents show that influential figures can be celebrated as nation-builders while simultaneously being scrutinized for their control over critical economic sectors. Whether Aliko Dangote will be remembered as a pioneering industrialist or a monopolistic overlord remains to be seen. One thing is certain: The success of the refinery is paramount in ensuring that those who dare to venture into uncharted territories are not dissuaded.
