The popular saying “one man’s food is another man’s poison” cannot be far from true, or perhaps, those who are still in doubt may need to ask Aliko Dangote, Africa’s richest man.
Once upon a time, we mean, barely days ago, Dangote was the owner of the only functioning refinery in Nigeria, an investment that left Nigeria and as well Nigerians as the mercy of the renowned businessman.
However, fast forward to today, the story is no longer the same.
You see, Nigerians had placed so much hope in Dangote Refinery to end the petroleum crisis rocking the country.
In fact, the joy when Dangote announced the commencement of production at the refinery stood as a testament to the hope Nigerians had.
NNPC Vs Dangote
Sadly, this hope was met with disappointment as things ended up worse.
Many people had even concluded that the country was better off without a refinery as people bought petrol at a cheaper amount when the product was import from foreign refiners.
Things were further complicated with the persistent face off between the Nigerian National Petroleum Company (NNPC) and the Dangote Refinery.
Several back and forth spiced with series of confrontations left many Nigerians suffering from the impact of scarcity and high cost giving life to the saying “when two elephants fight, it is the grass that suffers”.
However, amid the clouds of chaos, a new dawn was birthed.
The NNPC kept to its word at last, delivering on the revamping of the country’s refinery in Port Harcourt.
That very day, on Tuesday precisely, the price of petrol crashed like never before.
The Competitor
One cannot begin to imagine how Dangote, who had already cried out about the 500 million litres of petrol stores away in his Lagos refinery.
Now, Dangote has a competitor. He is not the only one producing petroleum products.
If his prices are not favourable, marketers may head off to the Port Harcourt Refinery for petroleum products.
If you can remember, the NNPC had accused Dangote of attempts to monopolize the petrol market, could this be the reason why the company rushed up the revamp of the Port Harcourt facility?
Now, the market will be an open ground with no one ruling or lording over it.
Also Read: Port Harcourt Refinery Petrol Price Is Higher Than Dangote By ₦75
Bankers had recently said that Dangote Refinery not yield the desired return of investment.
This was said when Dangote began his hunt for loans to fund the refinery.
While we cannot say for certain if Aliko Dangote is happy with the revamp of the Port Harcourt Refinery, one thing remains for sure, Nigerians are very happy.
