Investigative journalist David Hundeyin has reacted to the battle between billionaire businessman Aliko Dangote, the federal government, and the oil cabal in Nigeria.

Dangote has made several media appearances expressing his concerns with Nigeria’s regulatory authorities.

In response to Dangote’s interviews, Farouk Ahmed, the Chief Executive Officer of the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), accused Dangote of attempting to monopolise the oil market.

Ahmed also claimed that the refinery’s product is of lower quality compared to other imported fuel products.

Dangote has denied the claim, stating that he offered to sell the Dangote Refinery to the NNPC. He proposed that the NNPCL should buy him out and operate the refinery as they see fit.

“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist,” Dangote said.

“That’s an incorrect and unfair allegation, but it’s okay. If they buy me out, at least, their so-called monopolist would be out of the way.

“We have been facing fuel crisis since the 70s. This refinery can help in resolving the problem but it does appear some people are uncomfortable that I am in the picture.

“As you probably know, I am 67 years old, in less than three years, I will be 70. I need very little to live the rest of my life.

“I can’t take the refinery or any other property or asset to my grave. Everything I do is in the interest of my country.

“So, I am ready to let go, let the NNPC buy me out, run the refinery. At least the country will have high-quality products and create jobs,” he said.

Reacting to the situation, Hundeyin criticised President Bola Tinubu and his government for hindering the country’s progress.

He argued that Tinubu has never established any legitimate business of economic value, while Aliko Dangote, who relies on state capture and government-enforced monopoly, has generated billions of dollars in economic value.

Hundeyin mentioned that although he does not admire Dangote’s business approach, he would prefer to have multiple Dangotes over one Tinubu.

Sharing his thoughts on his X handle, he wrote:

“Aliko Dangote is a crony capitalist whose parasitic practices stunt the economy instead of growing it. That is true. However, the ongoing extrajudicial destruction of the Dangote business organisation by the Tinubu regime is not at all something to celebrate.

Bola Tinubu has never created 1 naira of legitimate economic value in his life. His entire career history has been drug trafficking and other forms of organised crime and electoral politics. Aliko Dangote may need state capture and government-enforced monopoly to make money, but he has - at least theoretically - created billions of dollars in economic value.

A career criminal and foreign intelligence asset who has never created N1 of value for anybody has no business destroying the legitimate economic output of anyone - including a state-backed crony. Both of them want Nigerians to be poor, but the latter at least needs us to be alive to be able to work for him and buy his output.

Also, the example of Japanese and Korean industrialisation shows that a serious government finds ways to integrate entities like Dangote into its national growth plan instead of making enemies out of them and trying to destroy them.

I'm no fan of what Dangote describes as "business," but I'll co-exist with 15 Dangotes over 1 Tinubu.”