Dangote Refinery: Nigerians Will Pay Double For Petroleum

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Oct. 1, 2013

by Hamza Suleiman with staff

NewsRescue– Our recent article detailed the Dangote business model. See: Paying Double The World Price: Dangote Cements Nigerians In Poverty

Nigeria’s richest man, Aliku Dangote gets rich by shutting down all his competition and then as sole supplier, charging Nigerians double the global price for products he imports or manufactures. This is known as the Dangote business model.

Thousands of Nigeria’s big and small businesses have been killed as Dangote uses his puppets in government to establish his monopoly of Nigeria’s economy.

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Payback: Dangote bought Yar’Adua and Jonathan their presidencies

Described by the US as Dangote beggar-thy-countrymen for his dangerous business operation via friends and leaders he installs in Nigeria assisting him to squash all his competition so he pegs prices as he wishes; Dangote is known to manipulate Nigeria’s business environment ensuring he kills all competition through his cronies, the past president Obasanjo and current president Goodluck Jonathan, whose campaigns he sponsored.

As Aliku beggar-thy-countrymen Dangote sets up to build the first private refinery in Nigeria, it has been predicted that in line with his get-rich-quick business model which as we reported has ensured all competition in the cement market has been effectively crippled via federal government favoritism and bans on competitor activities, the Dangote refinery will likewise bring about the death of the current operating national refineries as well as a complete government truncation of importation of refined petroleum products, hence enabling Dangote assume sole petroleum products supply in Nigeria and then as is with his greed and profiteering nature, the price of petrol and oil products will double in Nigeria.

The removal of Nigeria’s fuel subsidy by Dangote’s stooge, president Jonathan may not be unconnected to paving the path for Dangote’s intended refinery by propelling its potential stock.

Dangote with the help of the current president of Nigeria, Goodluck Jonathan will soon own the entire country, people included. It is no surprise that they say “dog is more loved in Kano than Dangote.

Our earlier article detailed how he has been amassing wealth on the backs of Nigerians by selling cement at $10-11.00/ N1650-1800 per bag, which is twice the global average for the same size of the product.

It is little surprise that Dangote cement stocks are highly lucrative to foreign investors with the company being one third of the Nigerian stock market.

The effect of Dangote’s selling cement at double the global price is telling on Nigerians who are unable to construct homes and infrastructure as they should be able to. Buildings frequently collapse for reasons that include ‘managing’ the overpriced cement.

Nigeria’s sheeple known for their worship of the rich, are thrilled by the handful of people (more like slaves) Dangote employs. Not realizing that he steals from them everyday to employ a few. Dangote’s refinery will most certainly submerge the nation further in poverty and slavery to the cabal as all his profiteering past business ventures have. And then, he will donate to his 150 million ‘beggars.’

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The views expressed in this article belong to the author and do not necessarily reflect the editorial policy of NewsRescue
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    Suzan Joseph 5 October, 2013 at 08:44 Reply

    Dangote is only one man among millions of Nigerians doing business, I don't believe Dangote wields so much power as to control the whole of Nigerian economy. If our leadership decide to mortgage the whole of Nigerian economy to him it is not Dangote fault, blame it on our failed leaders. Dangote is one business man cashing in on the loophole of the economy. I believe there are Nigerian business men who can give him a run for his money but like they say "evil prevails when good men do nothing" . If I were Dangote I will maximize every opportunity as a businessman.

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