Aliko Dangote’s recent call for the removal of the petrol subsidy, based on the specious comparison between fuel prices in Nigeria and Saudi Arabia, is not only misleading but also reveals a deeply selfish agenda that disregards the economic realities of ordinary Nigerians. Dangote's attempt to justify a petrol price hike by claiming that fuel is cheaper in Nigeria than in Saudi Arabia, while ignoring the vast disparity in minimum wages between the two countries, is both disingenuous and dangerous.
While petrol may indeed be 60 percent cheaper in Nigeria than in Saudi Arabia, Dangote conveniently overlooks the fact that the minimum wage in Saudi Arabia is 26 times higher than in Nigeria. The average Nigerian worker earns the equivalent of just $42 per month, compared to $1,080 in Saudi Arabia. For Dangote to suggest that ordinary Nigerians, already burdened by inflation and economic hardship, can shoulder higher petrol prices without severe consequences is an affront to the very people whose daily struggles he has long exploited for profit.
Dangote's hypocrisy becomes even more glaring when one considers the immense subsidies and government support his business empire has enjoyed for decades. From pioneer status benefits and tax waivers to concessionary foreign exchange rates, Dangote has thrived on a system that has showered him with privileges far beyond the reach of ordinary Nigerians. Yet, this same man, who has built his fortune on the back of state largesse, now advocates for policies that will further impoverish millions, all while ensuring that his refinery profits at the expense of the people.
By pushing for the removal of subsidies, Dangote is essentially laying the groundwork for his refinery to sell petrol at prices even higher than those of imported fuel. This is not an act of patriotism or fiscal responsibility; it is a calculated move to protect his bottom line, no matter the cost to Nigeria's struggling citizens and small businesses. His advocacy for subsidy removal is not about helping the government save money—it’s about maximizing his profits under the guise of economic reform.
What Dangote fails to acknowledge is that much of his refinery’s output will be consumed by the very Nigerians he seeks to further burden with higher fuel prices. These are the same Nigerians who, in his hour of need, rallied to support him against the chokehold of the corrupt Nigerian National Petroleum Corporation Limited (NNPCL). Yet now, Dangote seems willing to sacrifice their well-being for the sake of his own profit margins. This is not just morally wrong; it is a short-sighted business strategy that will ultimately backfire as the purchasing power of consumers is eroded.
Dangote’s argument that fuel smuggling and porous borders justify subsidy removal also rings hollow. The problems of smuggling and border control are the result of government inefficiencies and corruption—issues that should be addressed through better enforcement and regulation, not by punishing ordinary Nigerians with higher fuel prices.
In calling for the removal of petrol subsidies, Dangote is not only advocating for an anti-people policy but also revealing the depth of his greed. He appears willing to push millions of Nigerians further into poverty to protect his financial empire, all while hiding behind the rhetoric of economic reform. His disregard for the hardship faced by the average Nigerian is evident in his tone-deaf suggestion that the country follow the example of wealthier nations like Saudi Arabia, without considering the vast gulf in living standards.
Nigeria does need economic reform, but Dangote’s brand of reform—one that benefits the wealthy at the expense of the poor—is not the solution. The government must reject his self-serving calls for further subsidy removal and instead focus on policies that uplift the millions of ordinary Nigerians who continue to suffer under a broken system.
It is high time that Nigeria's leaders recognized the difference between genuine reform and the corporate greed of oligarchs like Dangote, who are all too willing to sacrifice the common good for personal gain. In this case, further hike in petrol prices would not only hurt the people but also expose the country's leadership to accusations of complicity in perpetuating an exploitative system that benefits the few at the expense of the many. If Nigeria is to move forward, it must do so with policies that prioritize the needs of its people, not the profit margins of its billionaires.
