Is Aliko Dangote Feeding Fat Through The Pockets Of The Poor Masses?

By Wisdom Nwedene

While many Nigerians are languishing in abject poverty, the African billionaire Aliko Dangote is wealthier than ever now that his long-awaited Nigerian oil refinery is up and running, 9News Nigeria has learnt.

But his mood suggests a man who just built his dream house only for the roof to start leaking.

The Dangote Refinery outside Lagos is the biggest single-train oil refinery in the world and one of the most complex, capable of processing most global crude types.

It has the potential to transform Nigeria’s economy by making the country self-reliant for fuel. And it’s more than doubled his net worth to $27.8 billion, according to the Bloomberg Billionaires Index.

Meanwhile, many Nigerians are of the opinion that the Richest man in Africa, Dangote is feeding fat through the pockets of the poor masses following the high cost of petrol in Nigeria.

Before the establishment of Dangote Refinery in Nigeria, the price was 650 naira despite the removal of fuel subsidy by President Bola Tinubu administration.

But with the coming of Dangote Refinery, the petrol price skyrocketed to 1300 naira at local filling stations in Nigeria.

There are indications that the Independent Petroleum Marketers Association Of Nigeria (IPMAN) alongside the Dangote refinery is set to finalize agreements on the cost of lifting petrol from the refinery. IPMAN predicts the move would contribute to the stability and efficiency of Nigeria’s fuel supply chain.

This is following the government’s decision to give the Dangote refinery and marketers the liberty to determine the price they intend to charge the market.

Last week, the Nigerian National Petroleum Company Limited (NNPC), decided to hands off from the operations of Dangote’s refinery.

This was done in order to allow fuel pricing be determined by market forces as defined by the Dangote refinery and marketers.

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