Financial analyst Tosin Adeoti has accused Aliko Dangote, Chairman of Dangote Refinery, of using emotional blackmail to sway public opinion. Dangote Refinery claimed that due to low patronage from Nigerian marketers, it would be forced to export 95-97% of its petrol. However, Adeoti believes Dangote is employing a strategy to garner sympathy and potentially lead to a ban on imported fuel, similar to what occurred with his other products.
Adeoti suggests that Dangote Refinery should disclose its petrol price to allow marketers to compare it with the landing cost of imported fuel, which stands at N1,117/litre. He argues that if Dangote’s price is competitive, marketers would not refuse to buy from him. Adeoti also proposes that Dangote could open his own petrol stations or partner with existing ones to sell directly to consumers.
The financial expert criticizes Dangote’s approach, stating that it is not in the best interest of Nigerians. He believes that importation is the only competition Dangote has to improve efficiency and that the company’s strategy is to cry foul and garner sympathy rather than competing fairly in the market.
This development highlights the ongoing debate surrounding Dangote Refinery’s pricing and its impact on the Nigerian market. As the situation unfolds, it remains to be seen how Dangote Refinery will respond to these criticisms and whether its pricing strategy will be transparent and competitive.
