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When you look at it, the Dangote model should not be allowed in the refinery business, as it has been done in other industries where Dangote holds sway. The modern trend is to move away from and discourage monopolies. A monopoly is not good for any economy; it does not pay anybody but its owners. That is the reason why they have antitrust laws in place in America and Europe. A company is not allowed to grow so big as to dictate to the market and consumers.
The Bola Tinubu administration must not allow business as usual. It must do away with this beggar-thy-neighbour economic model where few businessmen are given concessions at the expense of others, who are eventually squeezed out of business, leaving the market and consumers at the mercy of those few favoured businessmen. It’s not a good thing to allow businesses to die in a bid to satisfy some interests. The government must allow a level-playing field and create a healthy competition for all.
Additionally, since the government has failed in the production of adequate energy for Nigerians, it should come up with a policy aimed at encouraging and subsidising alternative power sources for people. The situation currently allows for shylock players who take advantage of consumers and increase electricity tariff arbitrarily without commensurate power supply.
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