Let Us Stop the Aliko Dangote Mafia Gang-Up against African Petroleum Plc

Let Us Stop the Aliko Dangote Mafia Gang-Up against African Petroleum Plc

Nigerians Report has decided to address the case of The Unethical Manipulation of AP Shares Leading To a Decline in Value by Nova Finance & Securities Limited and Alhaji Aliko Dangote published on pages 94-95 of The Guardian on Tuesday, March 24, 2009.

It is important that this grievous allegation by the management of African Petroleum Plc against the Nova Finance & Securities Limited and Alhaji Aiko Dangote should be well investigated and the findings should be well circulated for the public knowledge of Nigerians and citizens of other nations, because hundreds of thousands of them are shareholders of these public quoted companies in Nigeria. Any act of economic misconduct or sabotage in Nigeria should be dealt with by the Nigerian Stock Exchange (NSE), Securities and Exchange Commission (SEC) and the Economic and Financial Crimes Commission (EFFC). The alarm raised by the management of African Petroleum Plc is in the interest of their nearly 200, 000 shareholders and the general public.
If Alhaji Aliko Dangote has personal scores to settle with his business archrival Chief Femi Otedola, he should do so privately and not on the floor of the Nigerian Stock Exchange. Aliko Dangote should not use innocent shareholders as pawns in his desperation to checkmate the advancement of Femi Otedola in the business leadership of Nigeria.
He should not use the shares of AP Plc to learn how to play Chess on the floor of the Nigerian Stock Exchange.

The fact is, without the Yorubas of Femi Otedola’s tribe, Alhaji Aliko Dangote would not have become as rich as he is today, because the majority of his customers or the consumers of his products are Yorubas. His own people the Hausas do not buy as much cement as the Yorubas, because Hausas hardly build houses as the Yoruba landlords who have landed properties from the Western region to the Northern region of the Hausas. Yorubas are the ones who buy most of the products produced and distributed by Aliko Dangote and not the Hausas who hardly indulge in extravagant parties as the popular Yorubas “Owanbe” parties. If the Yorubas should boycott Dangote’s products, the Dangote Group will collapse within 12 months. Imagine what would happen to the conglomerate of Alhaji Aliko Dangote if I make a clarion call to all Southerners from the East and Western states of Nigeria to boycott Dangote’s products and services? The Dangote business empire will crash!

Alhaji Aliko Dangote and his gang of Nova Finance & Securities Limited should stop their mischievous and unethical economic sabotage of “crossing” and devaluation of the shares of African Petroleum Plc at the Nigerian Stock Exchange. Any Dangote Mafia gang-up against Chief Femi Otedola and associates will fail woefully.


The ruling People’s Democratic Party (PDP) of Nigeria connived with Aliko Dangote to use the Nigerian economy to practice monopoly and Totopoly and he monopolized the importation of cement with the support of the corrupt political mafia of the PDP. But the time has come to stop the greediness of Aliko Dangote and demand for equity and probity in the economic development of Nigeria for the mutual benefit of all the citizens and other stakeholders.