This cut is from a trending video on Aliko Dangote where one guy said many terrible things about the businessman.
My Comment: Let me defend Aliko Dangote as a Nigerian. We should not feed our young people with innuendos like the one pushed by the vblogger. This is an absolute lack of understanding of the market system. First, this guy does not know why things are expensive in Nigeria: power. In Ethiopia, Tanzania, etc, Dangote Cement gets subsidized electricity. As a result, Dangote’s products are cheaper when benchmarked with Nigeria where Dangote generates his own electricity. This is the same reason why your DStv may be more expensive in Nigeria than in Tanzania or Uganda as they run generators in MultiChoice Nigeria.
I have written extensively on the global Conglomerate Tax which is a construct that industrialized conglomerates “tax” nations to help them solve big problems. It is a global phenomenon. The problem in Nigeria is that only about 2-3 people are bold to dream and participate. And for those $billions, they demand concessions from the governments, to help governments solve governments’ problems.
Cities in America were shipping $billions just for Amazon to locate its second headquarters. Dangote would be a bad businessman to invest $10 billion without asking for things. If you have $10b to invest, I volunteer to meet Tinubu to get you some concessions. And do not invest $10b in Nigeria without asking for concessions from the government!
Dangote should be commended. Everyone is now talking about how he received the “refinery” from cronies because Nigerians have short memories. Suddenly, Dangote is a “monopoly” despite close to 50 years of Nigeria’s national failure in this business. What is wrong with Nigerians? The problem is not Dangote. The problem is us. There are opportunities in healthcare, steel, education, mining, agrro, etc in Nigeria. People can raise $billions and ask governments what they want. Again, I will help you get Mr. President to offer goodies!
That is how they do it in America: Elon Must received support via Tesla via EV credits; Amazon got US tax re-written waiving collection of sales tax which made the products cheaper; etc. Carnegie/Vanderbilt/etc supervised the enactment of eminent domains which made it possible to take private land for public good like railtracks!
Dangote does not have a perfect hit. His Lead Merchant Bank went bankrupt because Ovia, Elumelu were better. Dangote Noodles failed and Indomie Noodles acquired it because Indomie was better. Dangote Capital lost money and failed. But in the domains he understands, he defends them.
A man risks his empire to build a refinery. And people cannot commend him. If he puts that in a fixed deposit in Switzerland, he will get at least $1 billion on interest yearly. But unlike others, he builds in Nigeria. We need more Dangotes. My problem with Aliko Dangote is that he has nothing tangible in Abia State and that is one area he must be criticized! Lol