Stop hiding behind dollar and oil! Shun profiteering!

Thank you to our dear 'Mai kudi', 'Mai arziki', 'Mai jama'a' - Aliko Dangote. He has used his game-changer outfit - Dangote Petroleum Refinery - to progressively crash the price of diesel from N1,600 per litre to N1,200 per litre about three weeks ago, to N1,000 per litre yesterday. On behalf of industries and consumers, thank you very much. Not yet Uhuru though!

Before now, big players like Dangote and BUA had recently crashed the price of cement, which sold as high as N15,000 per 50kg bag in January 2024, to between N7,000 and N8,000 now, depending on the brand, location, and other factors. 

Considering the above and other recent improvements such as Naira appreciation, thank God for responsible and responsive business leadership. Thank God for the imaginary hand of the #FGN. There's however more room for improvement!

You keep asking why government after government in #Nigeria have always favoured Aliko Dangote in a big way but you never ask yourself what you do with your little space in your little corner. You keep wondering how God has been blessing and increasingly blessing Dangote but you never wonder about kingdom principles concerning being good and faithful or being wicked and slothful over a few things.

While Dangote has crashed the price of diesel and has led others to crash the price of cement, you in your little corner are still hanging on to your high old prices even though your #dollar #forex rate justification has seriously gone down. You often forget that enormous profit, by hook or by crook, may bring you wealth but it may not sustain your business or bring you blessing.

Each time your costs of production increase, you immediately increase the prices of your products / services and transfer the burden to consumers. But, whenever those costs come down, you either refuse to bring down your prices or drag your feet to do the needful. You shrug your shoulders when you hear consumers sadly saying "Whatever goes up in Nigeria doesn't come down." It's not so in consumer-centric economies. It's not supposed to be so in our economy. And, in all fairness, it's not the practice by all private companies delivering products or services in Nigeria. One of those God-fearing business outfits that have been operating with transparency and integrity particularly in the oil and gas sector is BOVAS Group. Many of their customers have testified to the image the company has built for itself. It has received many awards of excellent service. In 2018, the then Group Managing Director of the #NNPC, Dr. Maikanti Kachalla Baru (RIP), applauded BOVAS Group for transparency, integrity, reliable service delivery, and consistent selling of petroleum products at the official price.

We hereby challenge and encourage individual business operators and corporate organizations to begin to do great positive things not only for themselves but also for the people and the society at large. God bless you as you do. #ShunProfiteering

Bolaji Oladejo.