revolt:
dangote isn't the only enterpreneur sourcing for forex, innoson, telecoms, airliners, banks are all sourcing for forex which will help keep those industries afloat, now explain why dangote has to be given prefrence over the rest. And bro do u not know if the PIB is signed the fg will not even need to give dangote any forex , why?!! Cos loads of fdi will help fund the project as their interests will be statutorily protected(PIB). So why will anybody support forex for dangote but non for other biz men. Can we be this blind or are we just simply not intelligent.

It is a simple matter of common sense; innoson imports most of its parts from Germany,airliners are heavy consumers of forex because they refuse to deal in the local curency,banks are sellers of forex and would therefore naturally clamour for more even if it is harmful(so far they make their profit),telecom firms consume forex indiscriminately because they also deal in foreign currency; most of these companies are not even listed on the stock exchange.Should we dash out our forex to importers rather than manufacturers?.
Let them find ways to source local components for their services.
About the PIB,I think that is a matter for the legislature; if the executive were to be given emergency powers,they could adopt models of the PIB to develop the oil sector.As it is,we are at the mercy of greedy legislatives and if I recall correctly,PIB has been on the table since Obasanjo's administeration,this current administeration claims that it will unbundled the bill into smaller sections for easy passage,let see how that goes.lt is common sense.

EVarn:
Benefitting from the government in power is not a crime,is it?.It makes him a smart business man in a capitalist society,would you prefer that foreign firms like lafarge had dominated the cement market in Nigeria?
If I remember correctly,it was the past administration that gave him license to construct a refinery and indorama is also constructing its own petrochemical structure simultaneously.There has not been any known complaint from other big manufacturing companies that they lack forex,except the importers.

[color=#006600][/color]

It's morally bad, anyway most businesses men do anything to stay relevant in issue concerning money. As I said b4 if it will create jobs no problem, he should enjoy it while it last nothing last for ever and every dog has its day. He's just a monopolistic business man who ensures other compititors are kept at bay. Nothing spoil, government should also support other small and large businesses too to reduce the suffering in the land

emiye:
If 10% is your definition of everything, something must be terribly wrong with your education.

chie shiay chimo hay .... chie you wan kill persin pikin? Why now! why are you so callous? don't mind the bleak fool ... who is on the verge of committing suicide because of hate.

Let us also use our initiative to consider that Chagaury group,the developers of Eko Atlantic are getting special forex for their construction,should we stop giving them forex?,we are building rails and roads,do you think the forex flew into the collective laps of the contractors?.
Nigeria must give out special consideration whether we like it or not,unless we want to cease developing.

DonP04:


It is not nepotism . First of all, why naira devaluation will help innoson and other manufacturers to maximize profit , the same can not be said on dangote who imports to build the refineries and other factories across the country like okpella cement factory in edo, tomato paste companies in Kano and Lagos .

Wait a minute, why are not complaining about the arbitrary import waivers to churches and southern businessmen during the Jonathan government

Other companies depend on local source for their factories? Bros ehh! If government can give 10% to all the companies to employ and build factories, it won't be nepotism but as it is now, it is no different.

revolt:
you guys don't travel outside the west and uk,so u decieve urselves.. I can guarantee that aside lagos, there's no part fof the west that's more developed than the east.not forgetting there was a brutal war across the niger. I can imagine how the west wouldve been with little federal presence, and a brutal cil war. Somalia would be a haven if compared. Anyways igbophobia will forever drive u guys nuts.

Good for us we know what's driving and behind your anti Nigerian and illogical rants..

Beats me why you keep boring us with your illogical and irrational rants when we in fact we know that you are ipob, anti Nigerian and what's best for Nigeria is bad news to you.

EVarn:
It is a simple matter of common sense; innoson imports most of its parts from Germany,airliners are heavy consumers of forex because they refuse to deal in the local curency,banks are sellers of forex and would therefore naturally clamour for more even if it is harmful(so far they make their profit),telecom firms consume forex indiscriminately because they a.

What an excuse! You claim that these other companies are not quoted on the stock exchange and thus shouldn't be qualified for special packaged forex? So, it is Dangote refinery that is quoted on the stock exchange?

EVarn:
Let us reason objectively before making comments on national issues.If dangote is not given forex,how do you expect him to complete his refinery project?; this same refinery,when completed,has the capacity to conserve 40% of our forex and even earn us foreign income from our oil producing neighbours like Chad who don't have refineries!,with this refinery,we are capable of becoming a net exporter of petroleum products.
Considering that he is also constructing a deep-sea underwater pipeline that has the capacity to singlehandedly assist us in transporting gas across the south of Nigeria and solve a huge part of our power problem,I will say that he deserves all the forex he can get.

@bolded
The same way others are completing theirs. case close !

EVarn:
It is a simple matter of common sense; innoson imports most of its parts from Germany,airliners are heavy consumers of forex because they refuse to deal in the local curency,banks are sellers of forex and would therefore naturally clamour for more even if it is harmful(so far they make their profit),telecom firms consume forex indiscriminately because they also deal in foreign currency; most of these companies are not even listed on the stock exchange.Should we dash out our forex to importers rather than manufacturers?.
Let them find ways to source local components for their services.
About the PIB,I think that is a matter for the legislature; if the executive were to be given emergency powers,they could adopt models of the PIB to develop the oil sector.As it is,we are at the mercy of greedy legislatives and if I recall correctly,PIB has been on the table since Obasanjo's administeration,this current administeration claims that it will unbundled the bill into smaller sections for easy passage,let see how that goes.lt is common sense.

its amazing dangote is the only manufacturer in naija( interesting), as I just learnt telecoms coys consume forex, so going by your analysis, how do u know dangote isn't trading with the forex giving to him, and if he needs forex to purchase refinery parts that he would use in assembling his refinery here what's the difference between him an innoson that's bringing in SOME parts of the vehicles he's assembling here?. My man stop tryn to justify that move its clearly a bigoted move.
As for the PIB which you excused the presidency of, I am aware hes sent one bill to the senate and it wasn't PIB, it. Was cattle GRAZING reserves bill. Our president showed his interests was more with cattle rearing that ensuring investors in our petroleum sector. So oga leave that equivocal explanation.

Cypost:

@bolded
The same way others are completing theirs. case close !

Who are the others? You mind listing them and also explain to us how they asked for foreign exchange and was denied...?

I really dont care if 50% of Nigeria's forex is given to Dangote, if that man completes his refinery, the petrochemical/fertiliser plant and the subsea gas pipeline project, he would be solving more than half of Nigeria's present economic problems. Dangote is basically taking over the responsibility of government so I personally have no problems if the government invests in him.

For anyone who ignorantly thinks Dangote gets the favours he gets because of his tribe, how do you explain that Dangote has always enjoyed these same uncommon favours with every single regime from OBJ to Yaradua to GEJ? .... It means there is something Dangote does differently.

aresa:




Good for us we know what's driving and behind your anti Nigerian and illogical rants..

Beats me why you keep boring us with your illogical and irrational rants when we in fact we know that you are ipob, anti Nigerian and what's best for Nigeria is bad news to you.

who's this clown trying to garner up sentiments? Even if I'm ISIS, were not talking about biafra or whatever, were discussing buharis bias in giving out 10pervent of a nations forex to one man who happpens to be from his ethnicity and starving all other biznesses of forex, that's the bone of contention here. So give me facts and stop running about like a headless chicken quoting me off topic.

When I think of what we stand to benefit when this massive Dangote refinery is completed, I don't mind if the FG supports him wholeheartedly with examples like this. I wont even call it support, I'll say invest because what the FG stands to generate in terms of revenue from the project when complete is massive and it'll just be as if the government is recouping its investment on Dangote by then.

In this country, most issues are being given either the tribal or religious colouration by the oppositions so I am just laughing at the ignorant comments up there.

[s]

revolt:
who's this clown trying to garner up sentiments? Even if I'm ISIS, were not talking about biafra or whatever, were discussing buharis bias in giving out 10pervent of a nations forex to one man who happpens to be from his ethnicity and starving all other biznesses of forex, that's the bone of contention here. So give me facts and stop running about like a headless chicken quoting me off topic.

[/s]


Don't get mad, just highlighted what's shaping your irrational and illogical arguments.

Common sense should tell you that with low reserves, you prioritize based on strict national, economic and interets that solves your practical and imediate problems.


Giving 10% of your forext to eradicate completely solve the fuel problems you'e been unable to take care of for decades and still have many more left to export for the same foreign exchange is a good and huge bargain.

Giving 10% of your forext to eradicate completely the petroleum products problems you'e been unable to take care of for decades and still have many more left to export for the same foreign exchange is a good and huge bargain.

Giving 10% of your forext to eradicate completely the fertilizer problems you'e been unable to take care of for decades and still have many more left to export for the same foreign exchange is a good and huge bargain.

Giving 10% of your forext to eradicate completely the GAS problems you'e been unable to take care of for decades and still have many more left to export for the same foreign exchange is a good and huge bargain.


Giving 10% of your forext to create hundreds of thousands of jobs and in the same process sole multiple problems is a good and huge bargain.

Your problem is shortsightedness and a serious case of penn wise, pound foolish mentality..

And the kworuption / looting continues.

aresa:
[s][/s]


Don't get mad, just highlighted what's shaping your irrational and illogical arguments.

Common sense should tell you that with low reserves, you prioritize based on strict national, economic and interets that solves your practical and imediate problems.


Giving 10% of your forext to eradicate completely solve the fuel problems you'e been unable to take care of for decades and still have many more left to export for the same foreign exchange is a good and huge bargain.

Giving 10% of your forext to eradicate completely the petroleum products problems you'e been unable to take care of for decades and still have many more left to export for the same foreign exchange is a good and huge bargain.

Giving 10% of your forext to eradicate completely the fertilizer problems you'e been unable to take care of for decades and still have many more left to export for the same foreign exchange is a good and huge bargain.

Giving 10% of your forext to eradicate completely the GAS problems you'e been unable to take care of for decades and still have many more left to export for the same foreign exchange is a good and huge bargain.


Giving 10% of your forext to create hundreds of thousands of jobs and in the same process sole multiple problems is a good and huge bargain.

Your problem is shortsightedness and a serious case of penn wise, pound foolish mentality..

Woow!! Ok how about not giving 10 percent of your scarce forex and radically pushing for the PIBs quick passage, that way FG gets to not just save her forex, but also allow for loads of investors, that will come in with their funds and build their refineries. NOTE I ddnt say REFINERY! Atleast the sector becomes competitive, price mechanisms come into play and the govt make loads of cash from taxation. All these without spending a dime. You are finished, if u can't reason along this path.

Dangote is going to be a monopoly.

revolt:
Woow!! Ok how about not giving 10 percent of your scarce forex and radically pushing for the PIBs quick passage, that way FG gets to not just save her forex, but also allow for loads of investors, that will come in with their funds and build their refineries. NOTE I ddnt say REFINERY! Atleast the sector becomes competitive, price mechanisms come into play and the govt make loads of cash from taxation. All these without spending a dime. You are finished, if u can't reason along this path.

Dangote is going to be a monopoly.

Apples and Oranges analogy and totally irrelevant comparison..


1. Solving nearly all our problems and create hundreds of thousands of jobs with 10% is prudent and just 10% of 100% so what's the headache when we are not talking about 20, 30, 40, 50, 60, 70, 80, 90 or even 100%?

2. Do we still not have 80% left to go around?


Please find something better to cry over...

emiye:
Well, if that will ensure he completes his refinery latest by 2019. So be it.

Imported refined oil products consume 40% of our foreign exchange .

So if Nigeria gives 10% of our forex to a man who has the potential of putting a stop to a loss of 40% forex. I have no qualms with that.

Why should he be encouraged to monopolise our common patrimony? Is it to thank him for the hundreds of people his blood thirsty drivers kill on our roads?

jamesonyebrown:
Why should he be encouraged to monopolise our common patrimony? Is it to thank him for the hundreds of people his blood thirsty drivers kill on our roads?

What monopoly are you crying over?


The FG gave out refinery licences to tons of entities so the question is how many of them made use of the licenses?


You tried to build a refinery and the FG denied you?


You people just argue and spew rubbish with zero thoughts and sense..

revolt:
dangote isn't the only enterpreneur sourcing for forex, innoson, telecoms, airliners, banks are all sourcing for forex which will help keep those industries afloat, now explain why dangote has to be given prefrence over the rest. And bro do u not know if the PIB is signed the fg will not even need to give dangote any forex , why?!! Cos loads of fdi will help fund the project as their interests will be statutorily protected(PIB). So why will anybody support forex for dangote but non for other biz men. Can we be this blind or are we just simply not intelligent.

guy some persons are programmed to support all the apc government does....that's why many of them are termed zombies....no hope for them....

emiye:
Well, if that will ensure he completes his refinery latest by 2019. So be it.

Imported refined oil products consume 40% of our foreign exchange .

So if Nigeria gives 10% of our forex to a man who has the potential of putting a stop to a loss of 40% forex. I have no qualms with that.

What u gonna say when he monopolized it? Ur brain na short-term only e dey think abt? Lobish

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https://drive.google.com/file/d/0B77SHJR93cBgYllYdzNMSlZTcGc/view?usp=drive_web

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aresa:




I'm with you 100%


It gets tiring shaking your head all the time at the rubbish they post. This is even way beyond poor education...

Fortunately your opinion doesn't count!

EVarn:
Let us reason objectively before making comments on national issues.If dangote is not given forex,how do you expect him to complete his refinery project?; this same refinery,when completed,has the capacity to conserve 40% of our forex and even earn us foreign income from our oil producing neighbours like Chad who don't have refineries!,with this refinery,we are capable of becoming a net exporter of petroleum products.
Considering that he is also constructing a deep-sea underwater pipeline that has the capacity to singlehandedly assist us in transporting gas across the south of Nigeria and solve a huge part of our power problem,I will say that he deserves all the forex he can get.

You people are fond of just picking up your calculators and doing addition and subtraction in any one way that suits your new wishful thinking.

How did you arrive at your 40% conservation of forex by Dangote Refinery now ehn?

How you people do your arithmetic is not clear, it's more of fictional assumptions than reality. In reality, Dangote would be buying crude oil in dollars as no IOC will accept naira from him in exchange for oil. Not even Folawiyo Petroleum.

Your assumptions are based on reduction in oil marketers' demand for dollars but completely ignore the reality that Dangote himself would need forex to buy crude for his refinery.

Aside freight cost, it's hard to see how Dangote Refinery will reduce the forex demand by 40%.

aresa:



Apples and Oranges analogy and totally irrelevant comparison..


1. Solving nearly all our problems and create hundreds of thousands of jobs with 10% is prudent and just 10% of 100% so what's the headache when we are not talking about 20, 30, 40, 50, 60, 70, 80, 90 or even 100%?

2. Do we still not have 80% left to go around?


Please find something better to cry over...

With this move ie 10% going to dangote, a monopoly by dangote is ensured, with the PIB various refineries are built( more jobs and competition), you prefer we spend 10percent of our forex for a monopoly, lesser jobs, no competition, high price etc.


Like I said, you're finished if you can't reason.

aresa:



Apples and Oranges analogy and totally irrelevant comparison..


1. Solving nearly all our problems and create hundreds of thousands of jobs with 10% is prudent and just 10% of 100% so what's the headache when we are not talking about 20, 30, 40, 50, 60, 70, 80, 90 or even 100%?

2. Do we still not have 80% left to go around?


Please find something better to cry over...

Don't be silly.

Dangote Refinery will not 'nearly solve all' Nigeria’s problems.

That is the same way you people said Buhari will solve all your problems.

Your must have a very shallow understanding of what constitute Nigeria’s problems. And this speaks to how your mind runs really. After burning all your ten fingers through unrealistic expectations from Buhari's 'omnipotence', it appears you have not learn anything.

Unfortunately 2019 will soon arrive and your assumptions will again be shredded when reality stares you in the face.

aresa:



What monopoly are you crying over?


The FG gave out refinery licences to tons of entities so the question is how many of them made use of the licenses?


You tried to build a refinery and the FG denied you?


You people just argue and spew rubbish with zero thoughts and sense..

if there was no law establishing ncc and regulating the communications sector do you think mtn , etisalat, airtel etc would have come into naija. All those ppl with licences will not spend a dime is the pib isn't passed into law. Dangote knows he can call up the president when he likes plus he's got political clout that's why he's not scared of the pib bot being passed.

An example of biz men that invested in sectors that had no laws backing them up, were ppl like ibeto cement. Did u see how the fed govt sabotaged him in favor of dangote till gej got into power, I rmba how dangote controlled price of cement then, and it sold for above 2800 when ibeto opened the price crashed. If there were laws regulating that sector ibeto wouldn't have gone through what he faced then. Well anyways I'm wasting my time here. Let him pass the pib instead of feedn dangote our forex to build his private coy.

hmm...

when the emir said he can seat in his garden & make N1b trading forex because of the inherent discrepancies, I guess this was what he was referring to.

while the initiative 'might' have its pros, the issue for me is;

1. at what rate does Dangote get his forex?

2. what are the checks & balances put in place to ensure that this 'advantage' is not being abused?

3. what exactly is being imported to build the refinery? & is it possible to instead 'grow' the local needs so they can service the refinery & 'other' refineries when they start building.

jamesonyebrown:
Why should he be encouraged to monopolise our common patrimony? Is it to thank him for the hundreds of people his blood thirsty drivers kill on our roads?

Oga, Dangote is just doing what he has to do. The problem is with this confused/aimless APC government and its supporters who don't know what to do again than putting their HOPE in just one man's business, they are the people bringing this great businessman into their confusion. Dangote would still have sourced his needed forex one way or another.

What we have witnessed so far from them and their supporters here is a lack of idea of what really is the problem and what to do. They are clearly overwhelmed by the things (the heavy load) they put on their own head and just hoping or wishing for LUCK. Nothing is thought-through. Nothing is based on credible data or science. Just wishful thinking. Ironically they derided that same 'luck' when they were going up and down then.

The unfortunate part is that they are so shameless to push those childish things to the public. Where in the world have you heard that a single refinery in a country is capable of 'solving nearly all' the country's problems?

It's disgusting.

Any southern christian who doesn't support the Avengers is sick in the head. The muslim think they can rob Peter to pay musa and no one should complain. One nigeria has ended shikena.

emiye:
Well, if that will ensure he completes his refinery latest by 2019. So be it.

Imported refined oil products consume 40% of our foreign exchange .

So if Nigeria gives 10% of our forex to a man who has the potential of putting a stop to a loss of 40% forex. I have no qualms with that.

God bless you.

Stingman:


How much was given to INNOSON...or CHIKASON group pf companies in NNEWI that employs thousands of people?

Where does Innoson and Chikason get their forex from? You mean people from outside Nigeria pay dollar for those prototype vehicle or Innoson produces all of it components locally?
If you can't comprehend what emiye wrote just shut it.