Financial analyst Tosin Adeoti has accused Aliko Dangote, the Chairman of Dangote Refinery, of using emotional blackmail to manipulate public opinion.

This accusation comes in the wake of Dangote Refinery’s announcement that it will need to export 95-97 percent of its Premium Motor Spirit (petrol) due to low local demand from Nigerian marketers.

Edwin Devakumar, Vice President of Oil and Gas at Dangote Industries Limited, revealed that only 3 to 5 percent of petrol marketers are currently willing to purchase fuel from the refinery.

Adeoti, however, suggests that Dangote’s strategy may be to invoke emotional appeals to garner support and potentially push for regulatory measures similar to those enacted for his other products.

Adeoti challenged Dangote to disclose the price of petrol from his refinery so that it can be compared to the landing cost of imported fuel, which stands at N1,117 per litre.

In a Facebook post, Adeoti argued that if Dangote’s petrol were competitively priced, marketers would be more inclined to purchase it.

He questioned why Dangote’s refinery price remains undisclosed and suggested that if Dangote’s product was genuinely cheaper, marketers would have no reason to reject it.

He further proposed that if Dangote faced resistance from marketers, he should consider establishing his own fuel stations or partnering with existing ones to sell directly to consumers.

According to Adeoti, Dangote’s current approach seems more focused on blaming external factors rather than addressing potential inefficiencies or pricing issues within his refinery.

Adeoti criticized what he perceives as Dangote’s attempt to garner public sympathy by portraying himself as a victim of sabotage.

He argued that such tactics may sway public opinion but do not necessarily align with the best interests of Nigerians, who might be more skeptical if presented with all the relevant facts.