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.

Putting all your economic hope on one man is sheer stupidity laced with craziness. No wonder we are still grappling with the outstanding uselessness of this admin foisted on us by ediots like you.

SmartChoices:


Fortunately your opinion doesn't count!

Mine counts, but yours doesn't because our 10% is already giving us hundreds of thousands of jobs

The best and the largest refinery in Nigeria, in Africa and the world

The largest petroleum products plant in sub Africa

The largest fertilizer plant in Nigeria

The largest Gas plant in Sub Africa

1,100km sub sea gas pipeline

And the best part is it's costing us only 10% of our forex...


You see, your silly and irrelevant anti Nigerian ipob sentiments doesn't count and never will..

emiye:
Well i cant blame you, i suspect you had a very weak education. A man involved in an enormous project like building the largest single refinery in Africa will obviously need lots of FOREX. The benefits of such project when completed to d current pressure on forex is second to none.

How much do u think u will buy fuel, if the so called refinery is completed?

aresa:



What monopoly?

You applied for licences or forex to build a refinery, cement factory or even any kind of factory and was denied?


You should look in the mirror for idiot and idiotic ramblings..

Wat a dumb response; u don't even know how CBN works. Av u ever even been to CBN Headquarter?

aresa:



What monopoly?

You applied for licences or forex to build a refinery, cement factory or even any kind of factory and was denied?

You should look in the mirror for idiot and idiotic ramblings..

Zombified Remi Tinubu pant sniffer, read your post again and tell me why you should be taken serious. You are complete dumb fellow.

Zombies bore me to hell.

Pavarottii:

Wat a dumb response; u don't even know how CBN works. Av u ever even been to CBN Headquarter?

We call them zombie for a reason.

Pavarottii:

Wat a dumb response; u don't even know how CBN works. Av u ever even been to CBN Headquarter?

What and who is dumb is you substituting sensible and rational thoughts with the location of the CBN, that's got to be the most idiotic and puerile comment ever..

1. 10% is not monopoly and our economy is not in one man's hand. Look for the meaning of monopoly in the dictionary..


2. 100% - 10% = 90%

3. The above Math means we have 90% left for the rest of the economy so saying we placed our economy in the hands of one man means you either don't know your math, you are shallow, unintelligent or just extremely slow.

4. Obviously, knowing the location of CBN HQ doesn't mean you are capable of formulating sensible, rational and intelligent thoughts.

aresa:




What and who is dumb is you substituting sensible and rational thoughts with the location of the CBN, that's got to be the most idiotic and puerile comment ever..

1. 10% is not monopoly and our economy is not in one man's hand. Look for the meaning of monopoly in the dictionary..


2. 100% - 10% = 90%

3. The above Math means we have 90% left for the rest of the economy so saying we placed our economy in the hands of one man means you either don't know your math, you are shallow, unintelligent or just extremely slow.

4. Obviously, knowing the location of CBN HQ doesn't mean you are capable of formulating sensible, rational and intelligent thoughts.

so govt must spend 10percent of her scarce forex to gain one refinery as opposed to not spending a dime, and radically ensuring the PIB is signed, which will ensure lots of refineries on different scales(dangote inclusive) in the nearest future!.

I'm beginning to suspect u were part of the ojota crowd in 2012, as usual clearly unable to reason rationally concernign this issue. Or maybe you're a minion that's spreading propaganda to justify that stupid govt move.

aresa:




Mine counts, but yours doesn't because our 10% is already giving us hundreds of thousands of jobs

The best and the largest refinery in Nigeria, in Africa and the world

The largest petroleum products plant in sub Africa

The largest fertilizer plant in Nigeria

The largest Gas plant in Sub Africa

1,100km sub sea gas pipeline

And the best part is it's costing us only 10% of our forex...


You see, your silly and irrelevant anti Nigerian ipob sentiments doesn't count and never will..

Aresa never talk rudely to me ever again. Learn some manners.

revolt:
I tried to ignore u but no!!! Wondering if you're mad!! If in a country of 180 million one man gets 10percent of all forex,( no govt agency can boast of that), and you don't understand what's happening. No wonder he's(dangote) the only person that can build a refinery when the PIB hasn't been signed, cos he knows indirectly the nnpc and the presidency got his back. So he's probably going to have a head start b4 they finally agree to sign the PIB and other investors come to build their refineries. GOVT OF NORTHERN interests. ONLY A FOOL thinks buhari is working for all of nigerias interests.

You need to go to china and see how it works there. No matter the population cabals are needed to spearhead the development of the country whether for good or bad. Not that i support PIB's tactics am just stating the obvious here.

ejilife:
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?

Dangote group is quoted on the NSE.

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

You must be terribly wicked and heartless if your definition of building the country is giving an individual 10% of our common wealth to grow his personal enterprise.What happens to other businessmen and women when only one person gets 10% of the lot? I'm really disappointed that I share the same country with your likes.

revolt:
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.

Innoson is importing parts to produce cars,dangote is importing parts to construct a refinery; if any sane government were to chose who to give forex,dangote will be the option 'cos he is a building national asset that will conserve 40% of our forex.
It is simple common sense
Argentina has grazing reserves all over their country,today they are one of the world's largest exporters of diary products with an estimated number of 52 000 000 cows,they actually have more cows than human beings.
If we can eliminate the pointless ethnic sentiments that are getting us nowhere,then we would realise that there is actually nothing wrong with establishing government controlled grazing reserves.
The PIB has been an issue for over a decade now,I don't think we should heap the blame on this administration,moreover,this government has already deregulated the oil sector and promised to passed the PIB in tranches of bills,let us observe the trend instead of complaining baselessly.

revolt:
so govt must spend 10percent of her scarce forex to gain one refinery as opposed to not spending a dime, and radically ensuring the PIB is signed, which will ensure lots of refineries on different scales(dangote inclusive) in the nearest future!.

1. PIB and Refinery are 2 different and unrelated issues so of what relevance is PIB to the topic.?

2. If you truly think PIB also can eradicate our fuel issues with more than enough left to export and generate forex for us, self sustain us with fertilizer, give our power plants GAS to produce electricity, self sustain our factories and industries with petrochemicals and created hundreds of thousands of jobs all in less than 2 years, then common sense dictates that you offer sane and rational justifications to support your PIB argument with.

3. Repeating PIB left and right all over the place without any relevant argument to place it over 10% forex is redundant, meaningless and just ignorant babbling..


Please get lost if you have nothing intelligent and stimulating to offer beyond throwing silly PIB nonsense you can not expand on to support your nonsense with..

emiye:
Well i cant blame you, i suspect you had a very weak education. A man involved in an enormous project like building the largest single refinery in Africa will obviously need lots of FOREX. The benefits of such project when completed to d current pressure on forex is second to none.

With your almajiri sound education,I'm very sure you're not taught EQUITY&FAIRNESS.

[s]

SmartChoices:

Aresa never talk rudely to me ever again. Learn some manners.

[/s]




Keep quiet abeg..

BlackSeptember:
Government of the North.

..............by the king of the north who is an arch-typical ethno-religious bigot.




[img]http://3.bp..com/-94fjo4Rrwe8/VYYMH1qZ3eI/AAAAAAAAEg4/YQJPLvPXfq0/s400/buhari-military-offensive.jpg[/img]



www.nairaland.com/attachments/2811193_119545964279545473921276597224668809228680n_jpegc457fb8b3ff7f2155aae3516e2429b0c

porka:


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%.

Nigeria spends 40% of its forex on importing refined oil,if dangote gets his refinery onstream,then we can conserve that huge chunk for more developmental purchases.Do you now understand?
Moreover,the FG can reach a deal with dangote that enables his refinery to lift crude oil without payment in return for selling petroleum products to Nigeria at an heavily subsidized rate,this would effectively eliminate the consumption of forex.
However,tell me why dangote refinery would buy the crude oil in dollars from an IOC when it is obvious that he is a local refiner?

Pavarottii:
How much do u think u will buy fuel, if the so called refinery is completed?

N40 of course, as promised by the All ProgreTHIEF Criminals, APC.



www.nairaland.com/attachments/3115090_seunoloketuyi1223747310596353674000681876567738n_jpegf23910bd963a3dbb9d74ad4621bdda8b




www.nairaland.com/attachments/3317460_3095323fbimg1447784631943jpeg0d6fe0821b4b9d3c854613847a8ddc94_jpeg2c09f55ae35047b47c6d2e4c9b2e6495




www.nairaland.com/attachments/3807303_fbimg1463139535826_jpeg9ca7d41d7976908bfaf5e4d62c1ee160

Pavarottii:

Wat a dumb response; u don't even know how CBN works. Av u ever even been to CBN Headquarter?

lol.....what does that have to do with anything?.

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

Innoson belongs to the 5% group. So therefore nothing for them.
Never mind that our DullardPoo said he belongs to everybody and belongs to nobody. That was just to further bamboozle the brain-dead zombies.




www.nairaland.com/attachments/2466899_tmp14537img20150531wa00082018317115_jpegfb518b792de89371742e268625a6aed0





https://www.youtube.com/watch?v=ZYUBTU2ZgFY

Geniro:


Putting all your economic hope on one man is sheer stupidity laced with craziness. No wonder we are still grappling with the outstanding uselessness of this admin foisted on us by ediots like you.

We aren't putting "all our economic hopes" on him.....we are putting our local refinery hope on him.
Would you prefer to wallow in scarcity of basic fuel simply because you are jealous of one man?; the refinery has employed and will permanently employ thousands of youths,have you considered that?.Have you considered the massive industrialization this project brings to the SW and the whole Nigeria?,I think you are just being selfish and petty.
I don't care if he is a northerner,so far this project brings about massive local refining of oil and a resultant enormous employment opportunity,then I support it.
Do you know how mucmuch forex Eko Atlantic and Abuja centenary cities consume?,should we then stop constructing both monumental projects?
I don't know how some people reason.

aresa:



1. PIB and Refinery are 2 different and unrelated issues so of what relevance is PIB to the topic.?

2. If you truly think PIB also can eradicate our fuel issues with more than enough left to export and generate forex for us, self sustain us with fertilizer, give our power plants GAS to produce electricity, self sustain our factories and industries with petrochemicals and created hundreds of thousands of jobs all in less than 2 years, then common sense dictates that you offer sane and rational justifications to support your PIB argument with.

3. Repeating PIB left and right all over the place without any relevant argument to place it over 10% forex is redundant, meaningless and just ignorant babbling..


Please get lost if you have nothing intelligent and stimulating to offer beyond throwing silly PIB nonsense you can not expand on to support your nonsense with..

EVarn:
Nigeria spends 40% of its forex on importing refined oil,if dangote gets his refinery onstream,then we can conserve that huge chunk for more developmental purchases.Do you now understand?
Moreover,the FG can reach a deal with dangote that enables his refinery to lift crude oil without payment in return for selling petroleum products to Nigeria at an heavily subsidized rate,this would effectively eliminate the consumption of forex.
However,tell me why dangote refinery would buy the crude oil in dollars from an IOC when it is obvious that he is a local refiner?

. Why you guys are Wasting your precious time educating all these nitwitz. They have lost their sense of sanity ever since when their hero lost in a FREE and FAIR election. If you keep on arguing with them from now to God's know when, they will still keep on believing their deluded thought. They are irredeemable. Moreover the news is as fake as the link the Ugand@n op provided, and you guys should have killed the argument RIGHT from inception

aresa:



1. PIB and Refinery are 2 different and unrelated issues so of what relevance is PIB to the topic.?

2. If you truly think PIB also can eradicate our fuel issues with more than enough left to export and generate forex for us, self sustain us with fertilizer, give our power plants GAS to produce electricity, self sustain our factories and industries with petrochemicals and created hundreds of thousands of jobs all in less than 2 years, then common sense dictates that you offer sane and rational justifications to support your PIB argument with.

3. Repeating PIB left and right all over the place without any relevant argument to place it over 10% forex is redundant, meaningless and just ignorant babbling..


Please get lost if you have nothing intelligent and stimulating to offer beyond throwing silly PIB nonsense you can not expand on to support your nonsense with..

I don't believe what this buffoon typed here!! “ PIB and refineries are unrelated”.. The full meaning of PIB is petroleum ind.... This daft beast says they are not related, hehe

Anyways with this I know ure a blackhole.

otumopkor:


You need to go to china and see how it works there. No matter the population cabals are needed to spearhead the development of the country whether for good or bad. Not that i support PIB's tactics am just stating the obvious here.

mr oga, even in china one company isn't allowed to operate a monopoly in a sector there's always room for several cabals, which helps for more jobs n competition, abi in ur own china one company controls chinas petroleum sector? Na wa to u

revolt:
I don't believe what this buffoon typed here!! “ PIB and refineries are unrelated”.. The full meaning of PIB is petroleum ind.... This daft beast says they are not related, hehe

Anyways with this I know ure a blackhole.

I'm sure you saw buffoon after looking in the mirror..

I was actually expecting you to intelligently articulate how and why PIB should have been considered ahead of 10% that guarantees us hundreds of thousands of jobs, self sufficiency in petrol, gas, petrochemicals, petroleum products and fertilizer..

I've articulated all the benefits we are getting for our 10% Forex so why is it so hard for your to intelligently opine the benefits of PIB against 10% forex?

You are obviously too shallow and unintelligent to expand your thoughts beyond shouting PIB all over the place


Stop acting like a 2 year old kid, support your PIB argument with facts, explain to us the benefits and why we must consider PIB before giving 10% forex to Dangote refinery..


Please keep quiet if you can not expand your vocabulary beyond one (PIB) word....

realjoker:


. Why you guys are Wasting your precious time educating all these nitwitz. They have lost their sense of sanity ever since when their hero lost in a FREE and FAIR election. If you keep on arguing with them from now to God's know when, they will still keep on believing their deluded thought. They are irredeemable. Moreover the news is as fake as the link the Ugand@n op provided, and you guys should have killed the argument RIGHT from inception

did u protest in 2012 at ojota?!!

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.

Yes, and that one man alone has the ability to build a refinery in Nigeria and no one else.

aresa:



I was actually expecting you to intelligently articulate how and why PIB should have been considered ahead of 10% that guarantees us hundreds of thousands of jobs, self sufficiency in petrol, gas, petrochemicals, petroleum products and fertilizer..

I've articulated all the benefits we are getting for our 103 Forex so why is it so hard for your to intelligently opine the benefits of PIB against 10% forex?

You are obviously too shallow and unintelligent to expand your thoughts beyond shouting PIB all over the place


Stop acting like a 2 year old kid, support your PIB argument with facts, explain to us the benefits and why we must consider PIB before giving 10% forex to Dangote refinery..


Please keep quiet if you can not expand your vocabulary beyond one (PIB) word....

let's see if you're redeemable bros!

Let me come down to illustrations, if you were a very buoyant investor interested in coming into nigerias petroleum sector, what would you consider first? Viability, security for your investment and a LAW that protects your bizness against arbitrary govt actions. Now if these variables aren't available, you will not invest right? Now the PIB is that law, and it hasn't been passed, thus no sensible investor will throw billions into an enviroment without such laws.
If you were the govt, and hoping to privatise that sector, what would you do? You would first create an enviroment that's attractive for investment by providing security,clear cut statutes defining and guiding operations in that sector. I'm sure you 1st action wouldn't be to give out your scarce forex to one company. Even dangote needs these laws to protect his investment, so another govt doesn't come in to change the rules. I hope this is as elementary as possible for anybody. Even our telecoms sector wouldn't have seen the light if the communications bill establishing NCC wasn't passed . Mtn, econet, glo wouldn't have opened shop.

revolt:
let's see if you're redeemable bros!

Let me come down to illustrations, if you were a very buoyant investor interested in coming into nigerias petroleum sector, what would you consider first? Viability, security for your investment and a LAW that protects your bizness against arbitrary govt actions. Now if these variables aren't available, you will not invest right? Now the PIB is that law, and it hasn't been passed, thus no sensible investor will throw billions into an enviroment without such laws.
If you were the govt, and hoping to privatise that sector, what would you do? You would first create an enviroment that's attractive for investment by providing security,clear cut statutes defining and guiding operations in that sector. I'm sure you 1st action wouldn't be to give out your scarce forex to one company. Even dangote needs these laws to protect his investment, so another govt doesn't come in to change the rules. I hope this is as elementary as possible for anybody.

1. I asked you to lay out the benefits that puts PIB ahead of hundreds of thousands of jobs, self sufficiency, in furl, gas petroleum products, petrochemicals for our factories and industries, but you instead came up with the same lame empty PIB nonsense.

2. It is very foolish, irresponsible and total abdication of responsibilities to set aside and deny ourselves the benefits explained above until we resolve years of unending and stalled PIB policy that has nothing to do with private investments needed to eradicate our immediate problems in less than 2 years.

3. It is also very idiotic, stupid and imprudent to tell investors not to invest and create jobs in our country because some thoughtless ipob on NL think we should not do so till we pass some PIB nonsense.


I hope you are not the smartest joker in your village because if so, your village is in trouble..

Saraki Orders Suspension of Work On New PIB

June 13, 2016 by Aderemi Ogunbanjo

It appears progress on the Petroleum Industry Governance Bill, (“PIGB”) is to be stalled as reports reaching us indicate that the Senate President, Bukola Saraki has ordered the indefinite suspension of further consideration of the bill. According to today’s Vanguard, this order came as a result of mounting opposition from southern lawmakers on the removal of the 10 percent royalty proposed for host oil communities tagged the Petroleum Host Community Fund, (“PHCF”) as captured in the original PIB, from the PIGB. Whilst the North is against the inclusion of the PHCF, the oil producing regions in the Niger Delta are favorably disposed to its inclusion stating that its removal is not in the best interest of their region.


http://www.petroleumindustrybill.com/2016/06/13/saraki-orders-suspension-of-work-on-new-pib/

We should not build the largest single refinery in the world till Saraki passes PIB


We should not build the largest fertilizer plant in Sub Africa till Saraki passes PIB


We should not build the largest Gas plant in Africa till Saraki passes PIB


We should not build the largest Petrochemical plant in Africa till Saraki passes PIB


We should not build 1000km sub sea pipeline till Saraki pass PIB

We should not create hundreds of thousands of jobs till Saraki pass PIB


See how dumb, backward thinking and retardded these Igbos are?