By Ahmed Yahaya-Joe
Do two kings in Kano imply business oligarchs in Lagos be made to promptly fall in line?
This is not only because, “Better one bad general than two good ones.” – Napoleon Bonaparte, Emperor of France 1804-1815.
But we are admonished in the televised version of A Song of Ice & Fire by George RR Martin;
“In the Game of Thrones, there is no middle ground.”
Simply put, in the Nigerian petroleum sky; “There can only be sun at a time. Never obscure the sunlight or rival the sun’s brilliance; rather, fade into the sky and find ways to heighten the master star’s intensity.”
– p.6 Law 1, 48 Laws of Power (1989) by Robert Greene.
Meanwhile; “A business oligarch is generally a magnate who controls sufficient resources to influence national politics.” – Wikipedia
How does a new sheriff in town unequivocally announce his arrival?
While oligarch banker Tony Elumelu has already fallen in line by openly resounding, “Last man standing,” Vladimir Putin’s playbook when he ascended to power in Russia is even more instructive;
“In the summer of 2000, 21 of the richest men in Russia exited their bulletproof limousines and entered the Kremlin for a historic meeting.
In the previous decade, these men had risen seemingly out of nowhere, amassing spectacular fortunes as the country around them descended into chaos.
Putin offered the oligarchs a deal: bend to my authority, stay out of my way, and you can keep your mansions, superyachts, private jets, and multibillion-dollar corporations.
In the coming years, the oligarchs who reneged on this deal and undermined Putin would be thrown in prison or be forced into exile.
The loyalists who remained — and the new ones who got filthy rich during Putin’s long reign — became like ATMs for the president and his allies.” – How Putin Conquered Russia’s Oligarchy by George Rosalsky posted on March 29, 2022.
Wikipedia goes on;
“A business leader can be considered an oligarch if some of the following conditions are satisfied:
1. Uses monopolistic tactics to dominate an industry;
2. Possesses sufficient political power to promote his interests;
3. Controls multiple businesses, intensively coordinating their activities.”
Perhaps against the background of the foregoing the need for Moscow’s strongman to assert himself cannot be overemphasized, as Plutarch (46-119 AD) describes the Roman consul, Manius Curius Dentatus in the Life of Cato on the propensity, “to conquer those who possessed gold, than to possess the gold itself.”
Ubiquitously, all the buck in Nigeria’s hydrocarbons industry stops on Mr. President’s desk as supervising minister of Petroleum Resources.
In other words, if the Villa sneezes, the Dangote Refinery not only catches cold but is already in an ambulance heading for the hospital!
Exactly a day after the attached picture at Eagle Square on May 29, 2023, unbeknownst to most Nigerians, an unintended violation of, “Never outshine the master,” played out;
“On 30 May, the Nigerian Exchange saw an impressive rally, with stocks surging by N1.5 trillion ($3.2 billion) in a single day.
This remarkable performance was driven by President Bola Ahmed Tinubu’s promising inaugural speech, which unveiled a series of policies aimed at addressing critical issues plaguing the Nigerian economy.
Investors responded positively to the president’s proposed measures, resulting in a significant increase in the share prices of Dangote Cement, Dangote Sugar, and Nascon Allied Industries—companies predominantly owned by Aliko Dangote…..”
“In a single trading session, these stocks recorded gains of 7.4 percent, 9.5 percent, and 9.42 percent, respectively, on the local bourse.
According to the Bloomberg Billionaires Index, Dangote’s net worth surged from $20.4 billion to $21.2 billion, catapulting him to the 75th spot from his previous ranking of 81st.”
The immediate foregoing moral is that since Eagle Square, one oligarch has consistently got severe knocks for, “Fuel subsidy is gone,” while the other has kept smiling to the bank with the middle ground between them fast disappearing reminiscent of Queen Cersei warning Nedd Stark as earlier quoted from Episode 7 Season 1 of the TV classic, Game of Thrones.
End of story.
Agreed, while it has been full of conjecture and might have taken speculation too far, one thing is apparently obvious, though:“A friend in power is a friend lost.” – Henry Brooks Adams (1838-1918)
