Regulatory authorities recently accused the Dangote Refinery of producing sub-standard products, a claim that the company has strongly denied.
Prominent Nigerian lawyer Femi Falana has voiced his concerns over the ongoing conflict involving Dangote Refinery, warning that it poses a significant threat to investor confidence in Nigeria. “I’ve observed this inter-class conflict, or dog-eat-dog scenario, with concern. It’s detrimental to our nation, and we cannot sustain this,” Falana remarked during Tuesday’s edition of Channels Television’s Politics Today.
Falana highlighted the inconsistency in the government’s approach, saying, “The government cannot solicit foreign investment globally while simultaneously being accused of undermining local businesses. This is perilous for the country.”
Nigerian regulatory bodies had accused Dangote Refinery of distributing sub-standard petroleum products, an allegation the refinery has denied.
Aliko Dangote, Chairman of the Dangote Group, had to put on hold plans for investment in the steel sector due to accusations of monopolistic practices. Falana dismissed these monopoly claims as immature.
“It’s embarrassing that we broadcast to the world that Nigeria’s government cannot manage its affairs, suggesting that one individual monopolizes trade in our nation,” Falana said. He questioned the role of the government, stating, “The government’s purpose is to prevent any monopolistic dominance in Nigeria. But what defines a monopoly?”
He continued, “If the government allows its own refineries to fail, and someone steps up to establish one, that’s not a monopoly. This argument is childish. The government should focus on fixing the nation’s refineries.”
Falana emphasized the role of the Federal Consumer Protection Commission in handling monopolistic tendencies and urged the government to support the Dangote Refinery. “If a factory has the potential to employ 500,000 young people, the government should support that company and explore collaborative efforts,” he concluded.
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