Back
to the issue at stake, this is the
current reality in Nigeria. The solution of every economic and even social
issue of the day in Nigeria( community) depends on or awaits the attention of AAD(
the only rich man). These include perennial petroleum scarcity and power
insufficiency, food insecurity, frightening level of unemployment, conservation
of foreign exchange and the weight of the Naira, low industrialization index, horrible road network,
poor quality of education and the
oil-dependent nature of the economy. So
pervasive is his involvement in these issues that I wonder if Nigeria needs an economic
management team.
AADs $4.5bn
agricultural project spread over 5 states, the $800m dairy farm of 50000 cows
and 500m litres of milk by 2019, the $20m tomato factory in Kano aimed at checkmating
the Chinese and the agreement with OCP Group of Morocco on fertiliser production would create more than 250000 jobs, diversify the economy, alleviate
poverty and reduce the nation’s import bill, make Nigeria the largest rice exporter in the
world by 2021 enhance food security,
address rural urban drift and crash the price of fertilizer sold to farmers.
AAD’s refinery and petrochemical complex (
largest in Africa) with 650,000 BPD capacity, will end fuel scarcity, create 235000
and yield $500m in taxes within 3 years.
The Peugeot factory acquired in
conjunction with some states and the truck assembly plant in association with
Sino Truck, both for domestic use and export will also diversity the economy,
create jobs and conserve forex. Nigeria has already attained self-sufficiency
in cement production courtesy same Dangote,, who is also involved in the construction of Apapa Ports access roads and the 45kms Obajana-Kaba
road, using his concrete model, which Fashola described as the way we should continue to build,
going forward, in exchange for some tax remissions, which he also said is
like
credit advance to government. AAD Sugar Refinery, will generate 100000 jobs and
ensure sugar self-sufficiency while he has
just taken over the Kastina Songhai project abandoned 6 years ago. He has commitedN200bn for a unique university
in Abuja, has donated a business school to the university in Kano and is
funding an Education for Employment center in Abia state , demonstrating
commitment to human capital development. He has
commenced a $150m solar power project in
Kano and built a N2bn integrated Dangote village for IDPs in Maiduguri.
According to NEITI report, AAD contributed
56%(N16bn) of FGN tax from solid minerals for in 2013 and paid N5bn premium to
insurers in 2016. In addition
to operationally solving all the prroblems of Nigeria, he is also generating
ideas as a member of the Nigerian Industrial Policy and
Competitiveness Advisory Council
I should not have bothered recounting all this because AAD has
severally said so himself but I do not want to be accused of plagiarism. Check out his speeches at the Guardian 2015 Man of the Year award, Nigerian Economic Summit, Kastina Economic
& Investment Summit, Nigerian-Kenya
business summit, when the VP visited his refinery and at the corporate
Council for Africa event. In all these,
he declared his commitment to turning
around and diversifying the economy, working hard to take the economy to the
next level, building a refinery that is higher than the combined capacity of
all refineries, a fertilizer capacity that is ten times more than what is
available in Nigeria today, generate 12000MW, more than thrice what Nigeria
currently generates and export refined oil rather than importing and creating Jobs
elsewhere, list his refinery et al on the NSE and help NSE to outgrow Johannesburg
Stock Exchange and how the rate of youth unemployment in Nigeria gives him
sleepless Nights(a statement even our PMB has not made), assuring that Nigeria(
and Africa) would soon become the world’s food basket. AAD has said and
continues to say the right and heart-warming things. Unfortunately however,
these are the kinds of statements that should emanate from Kemi Adeosun, Godwin
Emefiele, Udo Udoma whoever is the chairman of the EMT, and in sane climes,
from the president himself.
So, like the
only rich man in the village, AAD has taken on all the responsibilities.
Already other villagers are grumbling: Ogun State governor complains that
Dangote trucks destroy the roads; Ndigbo say the only Dangote investments in
ala-Igbo are deaths and traffic jam by his reckless drivers and his trucks; the
FCT in 2016 rejected his Salah gifts; some people complain that he cornered an
unfair share of our forex, enjoy great tax waivers, is becoming monopolistic
and is muscling out other players, citing his spat with Otedola, Ibeto and BUA.
Our only luck so far is that Dangote does not overtly throw his weight
about. If he were to behave as some of his drivers….
The Federal Government, on the
other hand is lying low and idling around as AAD undertakes its numerous
responsibilities, being his greatest cheerleader and praying
that AAD lives long to solve all our socio-economic problems( as PMB did
on his 60th BD). Shamefully , rather than do SOMETHING about our pitiable petroleum situations, Ibe kachikwu publicly begged AAD to finish his
refinery ahead of schedule because the Government promise to end fuel importation
in2019 was based on the refinery! Just imagine that: The Government makes a
promise to Nigerians and depends on AAD to fulfill the promise! Even Oxfam recently
urged AAD and 4 others to use their wealth to end poverty in Nigeria.
The government, representing the
Nigerian village, enjoys the positive externalities from the bigman,
without thinking what if! What if AAD
wobbles, or goes to bed and does not
wake up early enough? What if a strategic shift occurs in the organization or
if future Dangotarians are not as
cool-headed and Nigeria-centric as AAD? The other day, AAD closed his $20m
tomato factory and his Tanzanian $500m Cement factory, which cost $4m to power
monthly. The health of the Nigerian stock market depends on whether the prices
of AAD stocks are rising or falling. What has the Government done to create other
AADs? Where are the other bigmen in Nigeria, including those whose kids party
across the globe on a regular basis? Why
can’t they stand up and be counted? What is the EMT doing if AAD addresses the challenges
of unemployment, diversification, food security, forex conservation, power generation and road
construction? Should we not outsource economic governance to him while the presidency
manages politrics, revenue sharing and makes excuses for the foreign herdsmen.
Or more charitably, why not send Osinbajo and the EMT on sabbatical to AAD. Furthermore,
given the strategic importance of AAD to
the fate and fortunes of Nigeria, shouldn’t the government purchase a key-man
insurance cover on the man?
Meanwhile, I urgently need a
Dangote sticker for my rickety car. Travelling from Lagos to the East has
suddenly become herculean and I strongly believe that a Dangote sticker will
clear the way for the son of man. As I was concluding this piece, I received
the news that a townsman, Law Onyemelukwe of Lafenax Ltd was named the overall best
customer of Dangote cement for 2017! So, I am vicariously among those enjoying
the AAD Effect, at least I can brag: my townsman is AAD’s best customer! That
may even get me through the police, customs, FRSC, Civil Defense and other
unclassified checkpoints when next I travel along Lagos-Onitsha route. But I
will also petition the Federal Character Commission to investigate the 2017 AAD
awards: the names of the top prize winners ( Onyemelukwe, Okika and Ezenyili)
did not reflect federal character!
“Find a great mentor, someone who has already been through the many challenges of being an entrepreneur..” -Jodi Levine
Entrepreneurship in Practice: Cases, Challenges and Lessons By IK, MUO PHD is now available on Amazon, since 14/5/21. Click here to view Available for order +2348033026625 | Delivery: Worldwide
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