Refinery: Had Dangote known, he would have acted differently – Mahdi Shehu

Public affairs commentator, Mahdi Shehu, has said Africa’s richest man, Aliko Dangote, would have made different choices if he had known the troubles that awaited him with the $20 billion Dangote Refinery project in Nigeria.

In a reflection he shared on X, Shehu drew a parallel between literary giant Chinua Achebe and the billionaire businessman, describing both as global figures who cannot be ignored in their chosen fields.

“Just as Achebe once said that if he were to be caught in a corner reading, it would be his novel Arrow of God, so too if one were to ask Dangote his biggest investment regret, he would say: building my refinery in Nigeria,” Shehu wrote.

According to him, the challenges Dangote faced from government agencies and unions show how hostile Nigeria’s investment climate can be.

He recalled the prolonged tussle with the Nigerian National Petroleum Company Limited (NNPCL) before the refinery got its licence.

“NNPCL blackmailed and insulted him with dangerous, stringent terms. He even went public, challenging them to buy him out,” Shehu said.

He also pointed to the recent dispute between the refinery and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

“They pretended to be shareholders when they are nothing more than parasites and intruders in a well-structured company,” he wrote.

He added that the negotiations with government and the union ended up favoring PENGASSAN “by 90% against an investor who risked $20 billion.

“Next time around, Dangote must factor in Parasitic unionism, likely blackmail out of envy, emergence of smaller countries out of a big country, before risking investing in Africa.

“Had Dangote gone ahead to buy Arsenal football club @$4.5 Billion as earlier planned, he would have been more at ease, reaping less strenuous returns and fame, with nobody blackmailing and sabotaging him.”

Shehu warned that the ongoing humiliation of Dangote serves as a red flag for both local and foreign investors.

“Had Dangote known, he would have acted differently,” he added.