By Samaila Emmanuel Bzugu
Ima Niboro, former spokesperson to ex-President Goodluck Jonathan, has urged Aliko Dangote, Africa’s richest man, not to prioritize profit in his refinery venture. In an interview with TheCable, Niboro emphasized that Nigeria has been kind to Dangote and it’s time for him to show kindness back to Nigerians.
“I also urge our big brother, Dangote, that at this point, it’s a business, but let him not prioritize profit too much. Nigeria has been very kind to him,” he said.
Niboro encouraged Dangote to consider the bigger picture, noting that his refinery is designed to produce over 5,000 products, including diesel and petrochemicals.
If he loses a couple of billions of naira along the line, he would make more billions from diesel, petrochemicals, and the over 5000 other products his refinery is designed to produce and sell to Nigerians and the rest of the world
“If he loses a couple of billions of naira along the line, he would make more billions from diesel, petrochemicals, and the over 5000 other products his refinery is designed to produce and sell to Nigerians and the rest of the world.”
He emphasized that a small sacrifice would not impact Dangote’s wealth significantly.
“A little bit of sacrifice in this matter will not make him any poorer. He must not prioritize profit at this time.”
Niboro referenced Dangote’s Bloomberg interview, where he compared Nigeria’s petrol prices to Saudi Arabia’s.
In his Bloomberg interview, he noted that petrol is cheaper in Nigeria than in Saudi Arabia, which is the largest producer of crude oil in the world
“In his Bloomberg interview, he noted that petrol is cheaper in Nigeria than in Saudi Arabia, which is the largest producer of crude oil in the world. He also said that Saudi people look at it from the perspective that this is what God blessed them with; they should at least have some benefits from it, some kind of subsidy from it.”
Niboro noted that Nigerians share a similar mindset.
“Nigerians have always felt that this is the thing that we have now. It’s like having vegetables cultivated in your backyard; you won’t pay the same amount of money for it as those that don’t have it.”
However, he acknowledged that this perspective doesn’t align with modern economics.
Niboro commended the Nigerian National Petroleum Corporation (NNPC) Ltd. for its handling of petrol supply despite many obstacles
“But of course, we know that it doesn’t work like that in modern economics. It is because of that NNPC was swallowing up more than half of the cost of a liter.”
Niboro commended the Nigerian National Petroleum Corporation (NNPC) Ltd. for its handling of petrol supply despite many obstacles.
“The NNPC has played a very responsible role, especially under its present leadership. Since it became a company, it’s been run professionally.”
He highlighted NNPC’s significant subsidy of petrol prices.
“They have gone over and beyond in the things that they have had to do for the nation as it’s the energy supplier of the last resort. The NNPC has been shouldering over N600 per liter on every petrol that we are consuming in this country.”
Niboro emphasized that NNPC’s role is crucial.
You know the Petroleum Industry Act made the NNPC as the energy supplier of the last resort, and in fulfilling this role of guaranteeing energy security for the country, they absorbed half of the cost of the petrol that you have in your tank for over one year
“You know the Petroleum Industry Act made the NNPC as the energy supplier of the last resort, and in fulfilling this role of guaranteeing energy security for the country, they absorbed half of the cost of the petrol that you have in your tank for over one year.”
He concluded by encouraging Dangote to adopt a similar mindset.
“Let Dangote approach this petrol issue with the same mindset. His name will be etched in gold, and he won’t even be the poorer for it.”
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