We have been inundated with very worrisome news from the recently inaugurated giant Dangote refinery. In summary, their tears can be encapsulated into two major grief boxes.
The first is self-inflicted, while the other arises from external causes, even though originating locally.
Let me briefly explain, in case some of us have been hibernating under a rock.
The Dangote Group has come out to say that the IOCs are doing everything within their powers to frustrate their operations by either creating an artificial scarcity of crude or throwing up the prices, each rendering the planning and operations of the huge refinery awry.
This situation has made them go as far afield as the US for crude, with grave consequences for their permutations and plans.
The second issue is the issuance of very questionable licenses to all manner of people who now flood the market with cheap and low-quality diesel, thereby causing disruptions in market penetration and pricing, among other things.
Now my thoughts. The Dangote Refinery is an economic game changer, especially if you consider the many areas in which it impacts the economy.
From infrastructure to job creation, technology transfer, forex earnings, and revenue mobilization to different tiers of government, the economic impact on allied SMEs, to mention a few.
These impacts are not just minor but come with very massive benefits to the government and the people of Nigeria, which is why their concerns must not only be heard but must be addressed by the authorities very fervently.
The government must realize that the Dangote Refinery is no longer one man’s thing but now a national cause and as such must attract and receive sovereign backing in whatever struggles it finds itself.
This takes me back to the days of the Ibrahim Babangida regime, where they pushed the notion of economic diplomacy, with the government acting as the chief marketing officer of Nigerian economic opportunities.
The Dangote Refinery must be the government’s major client. The government must, as a matter of urgency, sit up and begin to partner with it in this struggle.
I do not know what agreements exist and guide operations between the IOCs who are alleged to be playing games with supply and pricing, but the relevant government bodies must, as a matter of urgency, step in and ensure orderliness in this space.
As for the licensing by the errant government agency, that should not be too difficult to address if corruption allows it.
I really would not like to sing about the woes of corruption in these matters, as it is now very tiring, but when it begins to take on an incestuous dimension, then a thick line has to be drawn.
Why pull in carcinogenic products for profits to now push out genuine, high-quality products being produced locally? It just beats common sense.
Everything must be done to protect this refinery until it stabilises in its operations and is strong enough to stand on its own.
This is very imperative, especially if you take into consideration that out of the many who were given licenses to operate, they are the only ones who are not only operating but have put something down in an iconic manner.
Weep not, my child; joy comes in the morning.
Thank you.
Duke of Shomolu