When Nigeria commissioned Dangote Refinery in May 2023 many jumped for joy amid hopes of transforming the country into a net exporter of petroleum products, but today such joy has been shortlived by revelations of underhand schemes by the billionaire businessman to rip off the poor and down-trodden Nigerians.

From afar, Aliko Dangote cuts a perfect figure of a successful business man, a pride to Nigeria and the African continent at large. But close scrutiny have since revealed the dark and ugly side of the Chairman and CEO of the Dangote Group.


From an humble beginning in 1991, the Kano-born businessman had risen to become African weathiest man with a net worth of $1.2bn garnered from lucrative ventures into foodstuffs, including pasta, sugar, salt, and wheat; cement; haulage; and other concerns.

However, the most ambitious projects that Dangote was involved in was the construction of a massive oil refinery in Lagos State. He spearheaded the project in 2013 in an effort to solve the fuel crisis in Nigeria, which, despite being a leading oil-producing country, had to import most of the refined petroleum products it needed.


But like the proverbial shylock, Dangote took advantage of the high level of corruption riding the petroleum industry to perfect a grand scheme to build the oil refinery using funds provided by the Central Bank of Nigeria (CBN).


In a tripod-like plot, Dangote, according to findings had sought the cooperation of former President, Muhammadu Buhari to complete the refinery and thereafter grant him a crude oil operation license, a request which the former President expressly granted without due consultation with stakeholders in the oil industry. Buhari surreptitiously agreed to commission the refinery even when it was not fully completed with Presidents of five African countries in attendance.

He reportedly shared the details of his meeting with former CBN governor, Godwin Emefiele and equally sought his support just as he allegedly convinced him that the successful completion of the refinery was of utmost priority to the former President.

Thereafter, Emefiele literally handed over the country's treasury to Dangote by providing the needed fund. This much Emefiele alluded to during the official opening ceremony of the refinery in May when he informed that in ensuring the successful completion of the project, CBN provided over N125bn to cover the domestic currency requirements of the venture, while also ensuring the availability of foreign exchange to pay for the importation of some of the machinery.
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He had projected that the Dangote Refinery could earn Nigeria foreign exchange savings of between $25bn and $30bn yearly, stressing that the impact of the savings would be directly reflected in Nigeria’s foreign exchange reserves by reducing the pressure on the country’s balance of payments.


Given the processing capacity of 650,000 BPD, the CBN governor said the refinery was more than able to meet all of Nigeria’s domestic fuel consumption, which is about 450,000 barrels per day, while the excess production will be available for export.

Dangote and Emefiele had both projected the in-coming administration of President Bola Tinubu would support his grand scheme for continued funding of the oil refinery. But unknown to them, Tinubu and his egg heads have since uncovered the unholy scheme and therefore decided to stop further funding as well as revoking the application for exploration license earlier promised by Buhari.

Aside this, The Snoop gathered that Tinubu also directed total refund of funds made available to Dangote in respect of the oil refinery. The new twist reportedly jolted Dangote and therefore began moves to endear himself to the new president.

In his bid to appease the new President, Dangote reportedly dragged his fellow billionaire, Bill Gates to Abuja in order to persuade Tinubu to rescind his decision to clampdown on Dangote and his dream project.


Sources at the Presidential Villa informed that the American waited five hours to see Tinubu but was kept at bay by presidential aides who pointedly told him the President was busy with other urgent state matters.


However, it took the spirited intervention of the National Security Adviser (NSA), Nuhu Ribadu who personally took Gates to President Tinubu. Inside sources said the meeting was very brief as Tinubu told his American guest to give him time to ponder over his request. But he seemed to have made up his mind on the clampdown of the funding of the refinery which is seen as being against public interest.

Moreso, Dangote had all along portend to be an honest businessman but those who know him too well attest to his dirty antics perpetrated to run opposition aground.


Recently, BUA Group-owned by Ishaku Rabiu detailed several acts of sabotage inflicted on its company and it's businesses by Dangote and his cronies. These are some of his subterfuge moves that has propelled him to become the largest producer of cement, sugar, fertilizer and other foodstuffs in Africa.

However, President Tinubu may have taken to wise counsel by clamping down on Dangote's refinery project which is meant to further improverish Nigerians through cement production.

TToday's Dangote brand of cement remains the costliest in the market at N5, 200 per bag.


Sadly, the refinery project which was hurriedly commissioned in May is currently stalled due to lack of funds following the hardline of the new CBN governor, Yemi Cardozo to advance further funds. It is not yet known when and how the Kano-born businessman hopes to put his dream project back on steam.

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Tinubu that is a crook or another one? Can he stop fraud or thief his own?

Rivalry.

Nigerians don suffer no be small...

Husband and wife thing.

Nothing concern me

BUA-HAHA have sponsored you too...I hope you can prove all this in court. ..

I am not a fan of Tinubu. But sincerely, if clamping down dangote's grip of the nation's economy is the only thing he will do, I stand with him

Unhealthy Monopoly

Billionaire milking a country that's already on life support, sometimes I wonder if man can really say I have enough and I don't want anymore.

SojWORLDWIDE:



When Nigeria commissioned Dangote Refinery in May 2023 many jumped for joy amid hopes of transforming the country into a net exporter of petroleum products, but today such joy has been shortlived by revelations of underhand schemes by the billionaire businessman to rip off the poor and down-trodden Nigerians.

From afar, Aliko Dangote cuts a perfect figure of a successful business man, a pride to Nigeria and the African continent at large. But close scrutiny have since revealed the dark and ugly side of the Chairman and CEO of the Dangote Group.


From an humble beginning in 1991, the Kano-born businessman had risen to become African weathiest man with a net worth of $1.2bn garnered from lucrative ventures into foodstuffs, including pasta, sugar, salt, and wheat; cement; haulage; and other concerns.

However, the most ambitious projects that Dangote was involved in was the construction of a massive oil refinery in Lagos State. He spearheaded the project in 2013 in an effort to solve the fuel crisis in Nigeria, which, despite being a leading oil-producing country, had to import most of the refined petroleum products it needed.


But like the proverbial shylock, Dangote took advantage of the high level of corruption riding the petroleum industry to perfect a grand scheme to build the oil refinery using funds provided by the Central Bank of Nigeria (CBN).


In a tripod-like plot, Dangote, according to findings had sought the cooperation of former President, Muhammadu Buhari to complete the refinery and thereafter grant him a crude oil operation license, a request which the former President expressly granted without due consultation with stakeholders in the oil industry. Buhari surreptitiously agreed to commission the refinery even when it was not fully completed with Presidents of five African countries in attendance.

He reportedly shared the details of his meeting with former CBN governor, Godwin Emefiele and equally sought his support just as he allegedly convinced him that the successful completion of the refinery was of utmost priority to the former President.

Thereafter, Emefiele literally handed over the country's treasury to Dangote by providing the needed fund. This much Emefiele alluded to during the official opening ceremony of the refinery in May when he informed that in ensuring the successful completion of the project, CBN provided over N125bn to cover the domestic currency requirements of the venture, while also ensuring the availability of foreign exchange to pay for the importation of some of the machinery.
READ ALSO:   NAIRA Rates against the USD, GBP, EURO today November 29, 2023


He had projected that the Dangote Refinery could earn Nigeria foreign exchange savings of between $25bn and $30bn yearly, stressing that the impact of the savings would be directly reflected in Nigeria’s foreign exchange reserves by reducing the pressure on the country’s balance of payments.




Contact: 08023851511 or adesojiomosebi@gmail.com.

FOR News Updates visit: www.sojworldnews.com
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It seems there's someone trying to tarnish the image between Dangote and Tinubu.

If there is any truth in this report,

It will be absolutely wrong move to jettison the project or sideline the project or play politics with it like we did nlin Ajaokuta. You can't lock up your economy to pursue people who stole from it previously. The refinery is a going concern and we shouldn't play politics with it.
We should recover our resources from it even if it takes 50 years.

FG should consider what ever fund it invested in the refinery as equity. Sell this equity in the stock market to raise fund thereafter guarantee local supply of crude. This will impact on our FX and provide additional funds for govt.

Hope we learn from our past......

This is purely politics Tinubu thinks that Dangote and Emeifele works against him in last concluded presidential election that's why he is holding Emeifele and trying to sideline Dangote's refinery but when Refinery's Indian representative announced of Thier intention to source crude from outside the country NNPC
started listening to them Nigeria is indeed a cruise

No be today Hausa/Fulani don dey chop Nigeria .

Dangote will rather drain the blood of Nigerians for him to remain the wealthiest man in Africa

He is the reason for the poverty of Nigerians as he controls all critical needs of the people.

All his products are super expensive yet won't allow any competitor against him in the market.

If tinubu can clip his wings of many years in aso rock and CBN then our hope of a better Nigeria will be renewed

In sane countries, people like Buhari should be in jail. Until presidents start going to prison in Nigeria, they will continue to act above the law

There is hardly any billionaire with 100% clean past.

Watching

This awesome, I never new things like this happens in the industry

You are absolutely correct, even Dangote is already making preparation to get listed in the floor of Nigeria Exchange

Dblack:
If there is any truth in this report,

It will be absolutely wrong move to jettison the project or sideline the project or play politics with it like we did nlin Ajaokuta. You can't lock up your economy to pursue people who stole from it previously. The refinery is a going concern and we shouldn't play politics with it.
We should recover our resources from it even if it takes 50 years.

FG should consider what ever fund it invested in the refinery as equity. Sell this equity in the stock market to raise fund thereafter guarantee local supply of crude. This will impact on our FX and provide additional funds for govt.

Hope we learn from our past......

Pierocash:
I am not a fan of Tinubu. But sincerely, if clamping down dangote's grip of the nation's economy is the only thing he will do, I stand with him

Sensible comment
Bartender ...1 bottle of Hero for this man abeg

Ikinternational:



Sensible comment
Bartender ...1 bottle of Hero for this man abeg

Their sense don dey come back

Unhealthy Monopoly..

lathrowinger:



Their sense don dey come back

Trust me.... we're not the same
I'm a man that calls a spade a spade. Unlike majority of you dickheads that prefer narratives.

But more annoyingly, don't own shit for Nigeria only data

aariwa:
Tinubu that is a crook or another one? Can he stop fraud or thief his own?

when allow your emotion to control your common reality of things Intelligence becomes the thing of past .

lathrowinger:



Their sense don dey come back

Even some ashawos are great mothers.

Don't let that go over your big head!

Paraman:
It seems there's someone trying to tarnish the image between Dangote and Tinubu.

Nobody is tarnishing any image..!!

Richest man in Africa my foot.!!
The guy made his wealth flying on Nigeria money...!!
Without government support and the country's treasury keys handed over to him Dangote would be selling diesel by the road side...!!

Floky215:


Nobody is tarnishing any image..!!

Richest man in Africa my foot.!!
The guy made his wealth flying on Nigeria money...!!
Without government support and the country's treasury keys handed over to him Dangote would be selling diesel by the road side...!!

He's not the only business man the government has been supporting.

It is going to be interesting

adekolaelect:
when allow your emotion to control your common reality of things Intelligence becomes the thing of past .

your emotions and intelligence belongs to tinubu not interested not me

In Nigeria even crooks can do the right thing sometimes.

Abacha was a crook, yet it's well know that during his tenure many people had to toe the line. When the Merchant Banks crashed in the 90's all the owners were banned from travelling out of the country. Some tried to lobby Abacha, but they were all rebuffed until monies owed were repaid.
Dangote has been benefiting from monopolistic practices for a long time, and if Tinubu is able to deal with him, that will be a massive plus

Tinubu naa Ass licker, he can only cough but he can not bite.
Tinubu praised Buhari during the election as the best president of Nigeria.
Today, the same Tinubu and his brothers/sisters claim that Buhari is the worst president, typical of those people.