Former governorship candidate, Tonye Cole, has warned against the dangers of allowing monopoly in Nigeria, stressing that competition is vital for the growth of the economy.
The statement comes amid the trade dispute between the Dangote Refinery and Nigeria Union of Petroleum and Natural Gas Workers, NUPENG.
Speaking on Channels Television’s Politics Today on Friday, Cole, also a chieftain of the All Progressives Congress in Rivers State, said large-scale businesses like those owned by Aliko Dangote often tend toward monopolistic control across sectors such as sugar and cement.
“Almost every business that comes up, especially at the scale of Dangote, would always want to move towards monopoly. The antecedent has always shown that whether it’s in sugar, cement and all of that, that is the trend in which he would want to move,” Cole said.
He maintained that while this may be expected, it is not acceptable for Nigeria.
“Competition makes nations stronger. Competition makes businesses stronger, competition makes industry stronger. And most importantly, competition benefits the citizens the most. It will be extremely dangerous and totally unacceptable for any kind of monopoly to exist within Nigeria,” he added.
On the oil sector, Cole noted that while Dangote Refinery is currently functional, the government-owned refineries remain largely inactive.
He pointed out that some importers are landing petroleum products at prices cheaper than what Dangote is offering locally, which, he said, fuels the debate over monopoly and pricing.
