How should the federal government address this significant issue in order to incentivize increased investment in local crude oil refining by Nigerian individuals?
By Abayomi Odunowo.
The recent news about the dispute between Aliko Dangote, the billionaire business magnate, and the International Oil Companies (IOCs) regarding the issue of buying Nigerian crude has sparked quite a debate among Nigerians. This story is not just about a business transaction; it delves deeper into the overarching issue of foreign exploitation and lack of patriotism among Nigerian leaders.
It is no secret that foreign countries have always taken advantage of Nigeria for their own benefits. The IOCs, in particular, have a long history of making lucrative deals in the country while giving little in return. They have been known to extract Nigeria’s natural resources, such as crude oil, at a fraction of the cost and then sell it back to the country at inflated prices. This practice has led to massive profits for these companies while leaving Nigeria with little to show for its resources.
In the case of Dangote, a prominent Nigerian businessman, his decision to challenge the IOCs on the issue of buying Nigerian crude is a bold move that is indicative of a growing trend towards self-reliance in the country. Dangote has long been an advocate for local production and has invested heavily in various industries to reduce Nigeria’s dependence on foreign imports. His push to have the IOCs buy Nigerian crude is part of this larger strategy to promote local industries and boost the country’s economy.
However, the story takes an interesting turn when it is suggested that former Governor of Lagos State, Bola Tinubu, may lay down his life to ensure that Nigeria’s refineries work. This hypothetical scenario brings to light the lack of true patriotism among Nigerian leaders. While the idea of a leader sacrificing their life for the greater good of the country is noble in theory, it is highly unlikely to happen in reality. Nigerian leaders, like their counterparts in many developing countries, often prioritize their own interests over those of the nation. This self-serving mentality has been a major hindrance to progress in the country and has contributed to the pervasive corruption and lack of development.
In order for Nigeria to truly move forward, there needs to be a shift in mindset among its leaders and citizens. True patriotism can only be achieved when the generality of Nigerians put the interests of the country above their own personal gain. This requires a collective effort to build a strong and sustainable economy that benefits all citizens, not just a select few.
As the dispute between Dangote and the IOCs continues to unfold, it will be interesting to see how it plays out. Will the IOCs relent and agree to sell Nigerian crude, to local refineries like Dangote at the prevailing market prices or will they continue to prioritize their own profits over the country’s economic development? Will Nigerian leaders step up and prioritize the nation’s interests, or will they continue to cater to their own self-interests?
The story of Dangote and the IOCs sheds light on a larger issue of foreign exploitation and lack of patriotism in Nigeria. It serves as a reminder that true progress can only be achieved when leaders prioritize the interests of the nation over their own personal gain. As Nigerians continue to strive for a better future, it is imperative that they work together to build a strong and sustainable economy that benefits all citizens. Only then can Nigeria truly fulfill its potential as a great nation.
Otunba Abdulfalil Abayomi Odunowo
National Chairman AATSG
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