Tinubu’s Lebanese Ally, Chagouri, To Resolve Differences With President
Aliko Dangote, Africa’s wealthiest individual, has sought the mediation of Gilbert Chagouri, a Lebanese associate of President Bola Tinubu, to resolve his deteriorating relationship with the President and address challenges in the oil industry, SaharaReporters has learnt.
This move comes as the bond between one of Africa’s most influential leaders and its richest man faces increasing tension, amid Nigeria’s struggles with soaring inflation.
The development follows a recent public spat between Dangote and President Tinubu’s appointees in the oil sector, which has garnered global attention and raised concerns.
Farouk Ahmed, Authority chief Executive of the Nigerian Midstream, Downstream Petroleum Regulatory Authority (NMDPRA), raised concerns about the consistency and standardisation of Dangote’s refinery output. Ahmed alleged that the quality of Dangote Refinery’s products was subpar compared to imported alternatives, citing the refinery’s lack of necessary licensing and its incomplete status.
He said, “I think we have about 45% completion. We cannot rely heavily on one refinery to feed the nation because Dangote is requesting that we suspend or stop imports, especially of AGO and DPK, and direct all marketers to his refinery.”
Dangote responded to Farouk Ahmed’s comments, revealing that he had abandoned plans to invest in Nigeria’s steel sector to avoid accusations of monopolisation.
WeHe expressed his willingness to sell his refinery to the Nigerian National Petroleum Company Limited (NNPC), demonstrating his commitment to the country’s growth. He had earlier voiced concerns about the refinery’s inability to access Nigerian crude oil, citing frustration from International Oil Companies (IOCs).
Amidst the exchange, Nigeria’s economic outlook continues to worsen due to high energy costs resulting from petroleum product importation, despite the country having three neglected refineries that have fallen into disrepair, to the detriment of the Nigerian people.
According to sources, the ongoing exchange of accusations suggests that Dangote has fallen out of favour with the current government.
Sources who spoke to SaharaReporters indicate that the root of the issue could be linked to Dangote’s failure to provide financial support to President Tinubu during the 2023 elections, unlike his contributions to other candidates. Recognising the potential risks to his investments and wealth, Dangote has reportedly sought to mend relations by engaging Gilbert Chagoury, a close associate of President Tinubu, as a mediator.
This move is seen as an attempt to rectify the situation and avoid further complications.
“The Chagouris finally led Dangote to Tinubu on Wednesday, July 24, 2024,” one of the sources said. An inside source revealed that Dangote and Junior Chagoury awaited the return of Gilbert Chagoury, the influential associate of President Tinubu, to Nigeria on Wednesday before requesting an urgent meeting with the President.
The meeting was scheduled for Wednesday, but as of this report, it remains uncertain what decision President Tinubu has made regarding Dangote or what instructions he has given to his aides on the matter.
Gilbert, widely regarded as one of the most influential figures within and outside the government, is believed to possess significant sway over the President’s decisions.
“His reputation suggests that he can secure virtually anything from President Tinubu, making him a pivotal figure in the ongoing efforts to resolve the issues between Dangote and the government,” the inside source said.
SOURCE: thelagosianmagazine.com.ng
