Game of Monopoly: Dangote in fresh trouble for increasing $40m fertilizer plant to $150m; Tinubu angry with Aliko

Controversial richest man in Africa, Alhaji Aliko Dangote has allegedly swindled the Nigerian Government of the huge sum of NGN5billion, an equivalent of $3,144,654.09 USD by padding the money used in building the fifty kilometers Gas Pipeline connecting the fertilizer company at Ibeju lekki, Lagos Nigeria, to The Gas Pipeline was constructed under Build, Operate and transfer (BOT) arrangement, it was gathered.

Originally, the contract sum for the building of the fertilizer plant was put at $40 million (63,600,000,000.00NGN) until Dangote surreptitiously claimed that he built the fertilizer plant with the sum of $150,000 USD (NGN238,500,000.0000). One of the contractors told Trojan News Media Correspondent Alhaji Aliko Dangote has refused to pay their money after they built and completed the project for four years running. “Because he’s untouchable he refused to pay us money that runs into billions of Naira.

A member of the group of Lebanese contractors, who built the company alongside with two other Nigerian contractors died two months ago in Lebanon, out of frustration and bankruptcy while one of the remaining two contractors has relocated to Canada as a result of debt and pressure from locales who supplied him with pipeline material. The third contractor currently based in Port Harcourt told Trojan.com.ng that Alhaji Aliko Dangote has ruined his life.

“Alhaji Dangote has ruined my companies. Do you know that as at today, Aliko Dangote is not remitting money to the Nigeria Gas Company (NGC).

“That means he’s using free gas to power his fertilizer plants. That’s because he’s a Aliko Dangote or he has a conceit business affinity with the NNPC management and the Federal Government.

“The total amount of money he’s claiming he built the fertilizer company with is over inflated. We’re calling on the Nigerian government to set up an independent investigation to unravel the scam Dangote conglomerates have become.

“As at this moment, the fertilizer plant is making a total revenue of about NGN160billion ($100m) monthly of sales from fertilizer to Brazil and the US in export and to a few other countries, yet he has refused to pay the people because he’s the Almighty Dangote.

“Why he’s now crying of oppression when he’s the one who is actually oppressing and ruining other people’s businesses?

The refinery that is currently in stalemate, which is expected to be one of the largest in Africa, has faced several delays and controversies such as the cost of overrunning it. The refinery, which was initially estimated to have costs $9 billion Dollars was alleged to have been ballooned to over $19 billion.

Presently, the refinery is plagued by unusual delays. The project has faced repeated delays, with completion now expected in 2025 or later. Some industry observers said the refinery can not be operational until 2030. Besides, environmentalists have raised ecological concerns. Critics have raised worries about potential environmental impact and pollution. This is outside the fact that economists have raised the questions of the refinery’s economic viability and potential impact on Nigeria’s economy.

The Nation newspaper, owned by President Bola Ahmed Tinubu in its edition of 28th February 2021 streamed with the banal headline: “Dangote refinery to sell refined crude to FG in Naira. The screaming headline was credited to the defamed immediate past Central Bank of Nigeria Governor, Godwin Emefiele.

“Central Bank of Nigeria (CBN) Governor Godwin Emefiele said yesterday that arrangement was being made to enable the Dangote Refinery sell refined crude to Nigeria in Naira when it commences production. Emefiele also said the first shipment of Urea from the Dangote Fertiliser Plant would begin in March, same year to help boost agriculture in the country. He spoke during an inspection tour of the sites of Dangote Refinery, Petrochemicals Complex Fertiliser Plant and Subsea Gas Pipeline projects at Ibeju Lekki, Lagos”.

On 29th of July, 2024, the story turned on its head with a caption: “FG directs NNPC to sell crude to Dangote Refinery in naira”, as published by Business Day and other major newspapers. The story reads: “The Federal Government has instructed the Nigerian National Petroleum Company (NNPC) to sell crude oil to the Dangote Refinery exclusively in naira, in a bid to boost the local currency and promote domestic economic activities.

“Dangote Refinery at the moment requires 15 cargoes of crude, at a cost of $13.5 billion yearly. NNPC has committed to supply four,” Bayo Onanuga said on his X account. From all indication, the arrangement was an engineered game plan between President Tinubu and Dangote to first play the ostrich, and then play the victim later.

It’s public knowledge that Dangote refinery was built on the strength of the People’s tax money with a current clamour that it should be renamed (NNR) Nigerian National Refinery. The sighting of the refinery is one of the game plans between the two oligarchies amidst stories that Tinubu’s Oando Oil Plc has acquired Agip Oil Nigeria Plc.

Dangote’s recent ordeal was his exposure of the Malta Refinery Linked to Tinubu Family, Headed by Wale Tinubu, the CEO of Oando Oil Plc. The Malta refinery controversial battle between the Dangote Refinery and the Federal Government has exposed a lot of secrets about the oil cabals, which are bent on making this country unfavorable. Though Tinubu’s family has denied their involvement in the Malta refinery saga.

A few days after the founder of the Dangote Petroleum Refinery, Alhaji Aliko Dangote, alleged that some officials of the Nigerian National Petroleum Company Limited have blending plants in Malta, indications have emerged that Nigeria imported fuel worth $2.25bn from the foreign country in nine years.

According to information on Trade Map, Nigeria imported petroleum oils obtained from bituminous minerals worth $2.8bn in 2023, jumping by a 342 per cent increase from $47.5m in 2013. Nigeria imported fuel worth $59.98m in 2014; $117.01m in 2015 and $13.32m in 2016. It was observed that from 2017 to 2022, there was no fuel importation into Nigeria from Malta.

Perceptive members of the public now watch with bathed breath how Alhaji Dangote will wriggle out of this miasma of inflated contract sum.