Tonye Cole Urges Competition to Prevent Monopolies in Nigeria's Economy

Tonye Cole, in an interview with Channels Television, warned against monopolies in Nigeria, citing the Dangote Refinery as an example. He emphasized the dangers of monopolistic control in sectors like sugar and cement, highlighting the need for competition for economic growth.

Cole pointed out that the refinery, owned by Aliko Dangote, remains largely inactive, affecting local fuel pricing. He raised concerns about potential monopoly pricing and the impact on the economy.

Cole's remarks underscore the importance of a competitive market to prevent monopolistic practices that could hinder Nigeria's economic development.