EFCC raided Dangote office. Then Asiwaju got a call, our busy body, too much grammar Efcc boss backed off. You see I like Asiwaju for one thing, he could be stubborn at times….. that’s if there’s nothing to lose, but he has something to loose: 2027. So I don’t expect him to apply more pressure. Dangote is bigger than Asiwaju. Truth be told, Asiwaju really wants to help but the people behind all these are big and have something to make him carve.
Back to oga Dangote.
Few years ago, Dangote was broke and cash strapped. Western lenders won’t talk to him. Buhari was not too ok because rescuing a big rich man comes with unintended consequences… your local currency will go! Dangote handlers sold Emefiele and Buhari a dummy; a Nigerian -Dangote JV. All hogwash. That’s for another day though!
Dangote is not off himself, he’s tied, like most people who make their money through Deals with Bretton Woods institutions, to agreements he has no option but to follow through.
One of such agreements is ditching the Nigerian crude, with less logistic palaver for American crude with lots of logistics nightmare for a subsaharan country.
But one thing most people, especially the badly educated ones, the political jobbers and those with corn in their back pocket, refused to see is that Dangote is the most dangerous Nigerian alive, not politically or sectarianly but economically. These are my reasons.
1. CBN gov Emefiele & Buhari funded a broke Dangote with our FX reserves when western lenders won’t cut him a slack. They even tried to destroyed him with a flimsy b*t*h in a hotel. Buhari & Emefiele sallied to the rescue. Wrong move. With more than $2 billion dollars cash, they rescued him. $2B for a project that would not impact sufficiently? Common…our leaders are dumb! $2B spread to 5000 smes would make Nigeria give India a hot Chase! Let’s assume 50% of the $2B were stolen as usual, $1B in the right hands of local businesses will do a healthy economic revamp!
What should be preferred? $2b for one project that would employ less than 1,000 persons, most of them sourced from India or $2b for 5000 smes with capacity to employ at least 5 directly. Numbers is everything! Well, they foolishly gave him access to our reserves, and Naira took a dip.
2. Dangote, Emefiele and Buhari knew all along that there’s no crude oil to give Dangote….80% of crude production is tied to loans already collected, stolen or misapplied… They knew Dangote will have to source from abroad…. this is where it gets really dangerous for the local economy and people. Dangote will buy crude from the US in dollars, and Dangote will refine the crude in Nigeria and sell in Naira. After selling in Naira where will Dangote get USD to buy next batch of crude oil? Sorry bruh…. Dollar is going to 2500ngn Hahaha 🤣🤣🤣🤣 Sense no go kill Bigkoko hahaha 🤣🤣🤣🤣. Asiwaju knows this, that’s why he initially authorized a raid on his Lagos office. But Dangote handler’s get mouth pass Asiwaju!
Govt & black market people will have to keep at least $5b monthly for Dangote to meet up on his payment in exchange to the naira you guys would bring to buy PMs. sometimes you will be forced to save a useless entity because of how big it is and who has mouth in it! That’s Dangote issue!
By his decision to buy crude from US, perish any hope of the naira recovering. Even dumb Buhari know that if you float your currency, you are toast!
Anything the Igbos kick against, my dear, don’t attempt it. Sense no go kell Igbo people.
