Some of us had consistently warned against the desperation of the Dangote Group to be a monopoly especially of the lucrative oil industry.
For those who have keenly followed the evolution of the company, it is no secret that it is predatory and brokers less or no competition, hence, its dominance.
If in doubt, ask Ibeto Industries and Bua in the fight to monopolise the cement market.
Just as in the instance case of draggingthe NNPC and others to court, for years the Dangote Group was locked in a battle of attrition with Ibeto Cement even when the federal government said the former had no business as a competitor dragging Ibeto Cement to court over its import licence of cement.
Incensed by the federal government’s approval to Ibeto by the government of former President Olusegun Obasanjo and being close friends then, Dangote was able to get the government of the day to halt Ibeto’s importation of cement, while Dangote continued to import, leading to his near-sole ownership of the cement market for years until when late President Umaru Yar’ Adua reversed his predecessor’s moratorium on Ibeto in July 2007.
Pricked by this, Dangote Cement PLC quickly filed a suit alleging that Ibeto Cement Company is gaining undue advantage by the federal government. However, the Federal Government and six of its agencies, argued that Dangote Cement PLC filed the suit with only one intention, to wipe out competition in cement business and become a monopoly.
Nigerians, be wise. The oil and gas industry has serious security implications to be left in the hands of a single individual. The day he wakes up to tell us his refinery has technical issues and it will take a month to resolve, the fuel scarcity and troubles we have had will be a child’s play then.
