International Business Ideation Specialist, Light Shedrack, has warned that Dangote’s request for the government to bend rules for him could drive international oil companies (IOCs) out of Nigeria.
During an interview with ARISE NEWS on Monday, Shedrack expressed concerns that if the government yields to Dangote’s demands, it could lead to severe consequences for the country’s economy. “If the government bends rules for Dangote, international oil companies will leave Nigeria,” Shedrack stated.
He shared that, initially, he supported Dangote when accusations arose but changed his stance after conducting his investigation. “When the issue of accusations came up, I was on Dangote’s side, but after scrutinising the claims, I found some things,” he revealed.
Shedrack emphasised that Dangote’s problem is not with the Nigerian National Petroleum Corporation (NNPC), as Dangote has already received about 39 vessels of crude oil from the government. “Dangote seems to be wanting the government to bend the rules for him, and his problem is with the international oil companies,” he added.
He then highlighted the significant support Dangote received from the government when the refinery project ran into difficulties. “I’m saying so because Dangote built a refinery, and midway into building the refinery, he was stuck and needed funds. The Nigerian government of that time intervened; they got him a facility of $1 billion to support what he was doing, and I don’t think any businessman or company has enjoyed such leverage from the Nigerian government,” Shedrack explained.
He criticised Dangote for not securing a proper agreement on feedstock before building his refinery, leading to his current predicament. “Before you build a refinery of that stature, it is necessary that you secure an agreement on that feedstock,” Shedrack noted, stressing that no one can demand crude oil without an existing agreement.
Shedrack urged Nigerians to think critically about the public disputes between major players like Dangote and the government, cautioning against being swayed by emotions. He also warned that if the government continues to yield to such demands, it could lead to the loss of royalties and taxes, ultimately worsening the nation’s economic and security situation.
“A time has come for us to creatively engage these people, make a claim and back it up with facts and figures,” Shedrack said, calling for responsible actions from both the government and business leaders to prevent further deterioration of the country’s economic state.
NNEOMA UDENSI
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