Femi Otedola just confirmed he is investing $100 million in the Dangote Refinery.
In his own words, he has visited Dangote 25 times. His compensation? An allocation of $100 million worth of shares in the refinery’s private placement.
He also revealed that this is why he sold his stake in Geregu Power Plant, to redirect the proceeds into the Dangote Refinery IPO.
The private placement is part of a $2 billion round targeted at private investors ahead of the public listing.
Dangote has already said the refinery could sell up to 10% of its stake in the IPO, which Bloomberg valued at around $5 billion. The valuation target is reportedly up to $50 billion.
Otedola did not stumble into this. He saw the future, exited an old position, and quietly positioned himself in the next one.
When men like this move, the rest of us should be watching.
This is the real danger.
When KPMG calls out errors and gaps in the tax law, and the writers reply that these are deliberate policy choices, yet still say KPMG “misunderstood the intent,” something is wrong.
It means the law is not judged by what is written, but by what the writers later claim they intended.
Those who say they understand the intent can then interpret the law to suit their hidden agenda.
Today it is called policy. Tomorrow it can be used as a trap.
Opposition politicians, critics, and even businesses may be caught, while others are protected by a different interpretation.
If KPMG can be told they do not understand the law, then ordinary Nigerians have no chance.
A good tax law must be clear, equal, and predictable.
Anything else is dangerous.
I am calling on all the relevant authorities to act accordingly to save the lives of our children & I am also coming back to say thank you to all of you who retweeted my pinned post..
I don't take your support for granted..😊
Enjoy the rest of your day and God bless you all.
Thank you so much for this beautiful tribute! I’m truly humbled. @Scholarshipscaf has been a pillar in my journey — a space that reminds us that dreams are valid and possible. I’m proud to be part of this community, and I look forward to giving back even more.