nandyz:
when good things comes ur way,,,,,, appreciate God for he will do more... for d inspiration of building refinery by dangote group of company,,,,,,, may almighty God bless him d more.... I use this opportunity to summit mine CV ...... Nwaokoro Andrew Nduka ...... Elect n Elect (power n machine)...(HND).... ability to work n improvement of d industries... contact at mine Google mail nandyandrew34@gmail.com

a9nyc2020:
yeah...u might not see it now...I tell u after it's (refinery) completion, u will eventually si it...9ja's economy is very dependent on dis man about (35%) of revenue comes 4rm him...so y u do u tink its gonna be a diff story dis time...?

Qoigord:


Can you please keep tribalism out of this thread?

Williamso:


Camela, Glassforce, IVM, nigergas, nigersteel, etc etc... Those are just the ones I could think of off my head...

smallJagaban:



ARE THESE WHAT YOU CALL MAJOR INVESTMENTS?

ceejay80s:
2018 ?
If naija never divide by then

major466:

To cary out a thorough maintenance work on our existing refineries to make them operate at 100 percent capacity will not be cost effective. It will be a total waste of funds. This is because the four refineries are so old that components needed for their maintainance and upkeep are not in production worldwide.
This quack mire was brought about by economic centralization (a policy of excessive government monopoly) for many years since 1975 until about 2006 when the sector was opened up for private sector participation in petrochemicals development.
Unfortunately the private sector had not been able to make use of this opportunity because petroleum products prices are still being regulated. No investor especially foreign investors will invest in a regulated economy were prices are fixed. That's why no refineries were build even after seven or more licenses were approved to begin construction of refineries. It was as a result of this delima that the present government in January 2012 attempted to completely remove fuel subsidy and allow market forces to control prices to encourage private investors to build refineries but Nigerians kicked against the removal.
Dangote is building the refineries out of patriotism because he's a Nigerian and a wealthy one at that. He can afford to build a refinery and still make a substantial profit even in the present condition of government intervention in prices.

naijababe:


You know how Dangote made his money, if it was that easy why aren't you doing the same

Many comments here reek of shameful and gross ignorance. Oil refining is one of the most difficult businesses in the world. Margins are often tight even in the most developed nations where most ends can sell for profit. What I'd like to know is what sort of pricing Dangote will be negotiating with the FG, will he buy at open market price or a competitive price where he will not only pocket all the savings and pass all the costs to us? It's early days to be rejoicing

kmariko:
Dangote’s Lagos refinery to start operations by mid-2018

AN oil refinery, being promoted by Dangote Group, is expected to come on-stream latest by the first half of 2018, in Lagos.

The plant will be able to process 500,000 barrels of crude a day, according to Dangote Industries’ operations director for petroleum refining, George Nicolaides, in an interview at the Platts African Refining Summit in Cape Town Monday.

“The site is being cleared, the plant is being designed,” Nicolaides said, adding that the organization is “close to the beginning of detailed engineering.”

In September last year, Dangote said it had agreed on a $3.3 billion loan with 12 Nigerian and foreign lenders to build the refinery as well as a petrochemical and fertilizer complex costing a total of $9 billion.

At that time, the facility in Africa’s biggest economy was expected to be completed in 2016 and the initial capacity of the refinery was put at 400,000 barrels a day.

“We have a very ambitious construction schedule,” Nicolaides said. “I’m not sure about the history of those dates.”

While Nigeria is Africa’s top producer of crude oil, it relies on fuel imports to meet more than 70 percent of its needs. Four state refineries with a combined capacity of 445,000 barrels a day are operating at a fraction of that because of poor maintenance and aging equipment.

Dangote selected Engineers India Ltd. to do most of the detailed engineering work for the new plant. Construction contractors were yet to be appointed.

“Supplying the local market is the primary objective,” Nicolaides said. “Naturally we can move product to the region. The government is being very supportive, very enthusiastic about this project. We are not looking for or wanting any particular subsidies.”

Guardian: Monday, 17 November 2014 19:45
Written by EDITOR
Category: Business News

SOURCE: www.ngrguardiannews.com/business/186952-dangote-s-lagos-refinery-to-start-operations-by-mid-2018

Williamso:


I don't get. Please explain.

One of the major detriments to our economy is the fact that we keep importing refined petroleum products. Refining our own will cut this practice and possibly enable us export if we refine above our local consumption. Despite the fact that this refinery will create thousands of jobs during construction and operation stages.

So please, WHAT ARE YOU SAYING/TYPING??

Wittylens:
Why didn't he give the contract to Nigerian Engineers?


Or are our engineers not good enough?

smallJagaban:



ARE THESE WHAT YOU CALL MAJOR INVESTMENTS?

Qoigord:
The current refineries in this country aren't working up to full capacity. We're an oil producing country who imports oil and refined oil produce.

There's little or no job opportunities available and the price of petroleum in an oil producing country is on the rise.

Yes, the refinery will create job opportunities but how will this help boost exportation in the long run and reduce dependence on importation?[/b]

Many countries abroad have started diverting from oil and gas to bio fuel for generating power. With this new finding, can you please explain to me how this will help in our exportation of oil produce?

nvnnyz:
Y did he not build it in kano or in the NE states

***edited***
Please is there any cheat I can use to move a thread to front page

F117AA:
Yes it may seem that way first, but it won't remain that way for long if the business is successful.
Nigerians(igbos) are always there to dilute any potential monopoly.

lastpage:


Please STOP regurgitating this nonsense and failed argument!
First, a businessman (or the typical investor) is not a charity organisation and they have zero moral code, especially in a corrupt environment like Nigeria!. They are just after more and more money! It is NEVER enough.... even if you raise the price of Petrol to #2,000 per Litre!

Secondly, The private sector is NOT interested in building any refinery. All those "investors" are nothing but "Profit takers and Asset strippers"
Checkout what they did to our Steel Plants that was sold to them at knockdown prices/ They simply strip the assest like steel billets and sold it to recoup their investment, with profit and forgot about any plough-back into the business.

Again, look at the Power Sector, after all the incentive and tariff increases, how many power plants have been put on stream by private investors in the last Eight years (since under Obasanjo)? Has Power become stable? NO!

Again, let me remind you that Dangote is not building refineries or Cement plants because of PATRIOTISM! He is doing it because he has done his "calculations" and knows there is a lot of money to be made! He is a businessman, not some charity cheerleader!

Subsidy has been shown to be a SCAM as it does not translate to a cheaper product price nor does it increase availability.
You can claim to be subsidizing what you are already selling above cost price

To keep saying "INCREASE IN PRICE" is the only solution for "availability and stability", is mere foolishness!
It will never happen!

Its either Government puts in-place measures to "FORCE" anyone who buys into the Sector to invest a certain percentage of their income, into building the sector (for example, like every 35% of money made from tariffs by any DISCO must be invested (or pooled) towards building a new Power plant)......

........... Government does a "build and sell" of Power Plants and Refineries if it does not want to be involved in the management of these sort of assets.
Government build it and sells it to private investors who will recoup back their money from tariffs.

The fact that none of this TWO OPTIONS has happened means that the government is either clueless or is part of the corruption.
It does not surprise anyone if you look at the owners of the DISCOS, for example.

The Government in the U.K has just signed a private Contract to build another Nuclear Power plant but we all know that sales of power in the U.K is managed by private operators ..... in a "build and sell" business model.
Why are they not waiting for "private Investors" to build their refineries and power plants for them as is Nigeria's case ... or just continue to increase tariff until some investors come out and shout: Oga, this money is enough for us naah!, we will now build Power Plant for you?

Lastpage!

lastmessenger:

We'll even if I have the chance I will not try to make money like dangote did. We know he has been exploiting Nigerians with his monopoly. If you think that I am not saying the truth google the average price of cement in the world and you will find out how one man has enslaved the whole nation and made it difficult for some of our young men to build house.
Let me ask you a simple question? Now that dangote has decided to reduce the price of cement to 1k, do you think he is going to loose money or not going to make profit? my bro open your eyes. There is no sentiment here. Dangote has always been aided by the government through their policies.i am not saying he is not hardworking am only against greed.
We'll you ask me why i am not taking the steps of dangote.my first answer is that none of my relations has connections to the military government nor the democratic government but even if I had such connections like he did, I will not be greedy like him.
Yes I still commend him for creation jobs for the youths

TheLight001:



@ the bolded:

Is Dangote the only cement manufacturer in Nigeria?

Ibeto cement, Sokoto cement, BUA cement, UNICEM, Larfage, etc. Weren't all this cement importers/manufacturers selling at averagely same price with Dangote, whereas the cost of producing/importing cement is less than N600 ?

Had other cement producers/importers decide to sell at a lesser price, won't people buy from them? Won't they have forced Dangote to also cut down his price?

lastmessenger:

I am happy that you are now getting the picture. Thank God that you have now confirmed the price of importing cement to be about 600. Now my point is that dangote among all those companies that you mantioned are more like the biggest player in the sector and should be the guy to channel the price if really he has human sympathy.people like Ibeto are just bloody importer of cement who is all out to exploit our people. Now my argument is that dangote and the other people owns plants in Nigeria and enjoys government tax cuts, nearness to raw materials, cheap labour and all that yet these guys imporverish tha whole nation with by selling something that should have been sold less than 1k to Nigerians over 2k. I remember one time the federal government had to intervene.
So get my point dangote and his friends are greedy people who does not give thought about the welfare of ordinary Nigerians.
I thank God he is beginning to realise himself with his recent price slash in cement.

AJINATU:
Let those who sell fake drugs and second hand clothes inside their 2x2 inches shop continue to deceive themsleves about how they control the economy of Lagos while real enterpreneurs put their money where their mouth is

AJINATU:
Let those who sell fake drugs and second hand clothes inside their 2x2 inches shop continue to deceive themsleves about how they control the economy of Lagos while real enterpreneurs put their money where their mouth is