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Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn - Business - Nairaland

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Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by Elgaxton(m): 5:06pm On May 22, 2007
Hey men, one man in nigeria bought up this! what do ya think mennn?

http://www.businessdayonline.com/?c=45&a=13345
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by Elgaxton(m): 5:18pm On May 22, 2007
Dangote also offered $1.781-billion (N226.2-billion) for the Federal Government’s 35 percent equity in Onigbolo Cement in Benin Republic, from which 10 percent of the bid offer or $178.1-million (N2.26-billion) cheque was given to the BPE.

Dangote is expected to pay the 90 percent balance within 30 days from today.


Na Wah oooooOO

Even in USA they dont mention such amount!

Young guyz make we buckle up o!
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by kachiface(m): 8:30pm On May 22, 2007
my friend, Big men never work alone.

He's just the front for the other big dudes behind. possibly barons. He's just the most credible so he has to do the fronting. You thtink he made all his money just from the business you see around?

think again
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by mrofficial(m): 9:02pm On May 22, 2007
Dangote Rice
Dangote Sugar
Dangote Cement
Dangote Salt
Dangote Spaghetti
Dangote Macaroni
Dangote Flour
Dangote Transport Limited
And now Dangote Refinery

Maybe next time it will be Dangote Mobile, Lets wait and see.
Jeun lo jo.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by kachiface(m): 9:06pm On May 22, 2007
of course!

In fact, he has already been issued his GSM license by NCC so he's rolling out his mobile services,

the guy is not stopping at anything! Soon he'll declare his political ambition, these things are natural. he just need to add on a few more years.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by asogwacmo: 9:36pm On May 22, 2007
pls does anyone have any idea what the take home pay is for first bank executive trainees
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by agbola(m): 1:10am On May 23, 2007
let's thank God it's a nigerian dat bought it not som chinese dude or lebanese mafia guy, and let's pray dey repair d place and make it work to full capacity again. and dat nobody goes and vandalize or bomb anything ooo
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by Moreti(m): 2:57am On May 23, 2007
BIG BOOYY, When MEN talk the rest of us keep quite, we are all Nigerians but some Nigerians are more NAIRArians than the others. At least he is creating employment, not like our politicians who create unemployment, he should just continue to create employment oh, and continue to grow richer, while some of us will have something to do. Dangote Refinery will create BIG BOYS oh, more grease to his brain and pocket. I think THE NEXT THING HE WILL BUY WILL BE THE NIGERIAN MINTING COMPANY. Dangote MINTS "BOOM SHA SHA!!!!!" I will like to work there! I think i ill wait for when he rolls out  Dangote Mints. wink
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by WesleyanA(f): 5:47am On May 23, 2007
official:

Dangote Rice
Dangote Sugar
Dangote Cement
Dangote Salt
Dangote Spaghetti
Dangote Macaroni
Dangote Flour
Dangote Transport Limited
And now Dangote Refinery

Maybe next time it will be Dangote Mobile, Lets wait and see.
Jeun lo jo.

we need more people to follow this guy's footsteps. we should be able to create our food and necessities in our land and not rely on importing goods form other countries/ foreign people controlling our economy.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by adeyballer(m): 8:01am On May 23, 2007
The Zenon (Otedola) part is very interesting.
From that aspect you will see what politics can do and undo.
Remember AP shares that was sold to Jimoh Ibrahim (for 14.5 Billion) and was collected? that same share was sold to Otedola for a whooping loss 500million (i.e 14 Billion) and nothing has happened coz all has died down already.
My point is, no one has been able to stop this people despite all this conspicuous activities (He's definitely fronting for somone who is and will continue to back him)

I pray they don't use our future to play politics. (Amen)

Signed: ADEYBALLER
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by joobreel(m): 8:12am On May 23, 2007
Dangote buys the this, he buys that. i will prefer if he buys the while Nigeria. atleast he creates a lot of employment opprtunities especially for our teeming graduates. he is not like some of our rich men that their investments are in Zimbabwe, switzerland, America, Cuba etc. He makes his money here and gives it out here. Even if he is fronting for some Barons, the money generated is not going beyond the shores of Nigeria. look at what DSR PO did to smart nigerians, from N18 to like N56 sometimes. he is creating wealth for nigerians that want to tap into his resources. I even read that his dream is to create wealth to Nigerians. so what are we talking about. abeg leave this guy. even if he is fronting for the devil, i like am. Dangote this, Dangote that. Dont worry, i wont mind tomorrow if i hear Dangote Nigeria.
LONG LIVE ALIKO DANGOTE!!!
LONG LIVE NIGERIANS!!!
LONG LIVE NIGERIAN ECONOMY!!!
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by seun001(m): 8:32am On May 23, 2007
yes oo!! he already has an NCC license.i think his gsm company is called ALHEIRI sumtin sha.
anyway he is trying oo.its just his monopolistic tendencies that i find hard to ignore.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by otuonye(m): 9:03am On May 23, 2007
I agree! Dangote is creating employment everywhere in Nigeria. At least, if most of our leaders were a bit like this, things would have been better.

However, my problem with him is in the monopoly area [although someone just mentioned that]. If we allow him to buy up everything, I am envisaging that one day, we might be strangers in our own land. So, I am encouraging other Nigerians to rise up to this challenge and not allow one man to claim everything.

Furthermore [abeg make una no vex], there is story i heard about Dangote since two years back. Does anyone know a thing about it?

I heard that a major competitor [to Dangote] in the Cement Industry had his license withdrawn by the Federal Government in order to give Dangote an unopposed dominance in the cement industry. I am talking about IBETO cement.

The Government claimed that IBETO was using his office to import ammunitions. So they withdrew his license. But I heard from an unbiased source close to the man [IBETO cement] that all that was a lie. It was calculated in order to give Dangote an unopposed dominance in that area.

Please oo, I do not know which one to believe again. But the much I know, IBETO was not into importation of arms, and I think that the Government is just too wicked to withdraw his license. I stand to be corrected on this matter anyway. Two other factors I considered were that:

This IBETO cement was stronger than Dangote cement [at least, my brother who is a building contractor, has confirmed this]
IBETO cement was giving employment opportunities to many people. A lot of my friends had jobs through this man's company.

My conclusion:
I am happy for Dangote and his success, but if blackmailing and intimidating other people is his way of doing business, then Nigerians should rise up and protest against it. But make una no crucify me if you think otherwise,

My candid suggestion
JOJO
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by Rottweiler(m): 9:12am On May 23, 2007
They never wanted the refineries to work in the first place so that their importation contracts for refined products can continue to fetch them billions of Naira. They forget that the masses are not fools. I won't be surprised that the PH refinery which has been working below 50% of its capacity will suddenly start doing 99%. We are no fools. Now the militants have threatened to blow up the place, a threat that should not be taken lightly! The government is not addressing the fundamental issues that have given rise to another form of lucrative business outside oil bunkering - kidnapping. Now all sorts of criminals in the Niger Delta are kidnapping at will - who wouldn't want to make some easy millions? The other time it was an elderly woman that was kidnapped, not too long ago, a nursery school student fell victim. Let us continue to celebrate that they are buying up the place. One day na one day!
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by otokx(m): 10:05am On May 23, 2007
I hope its not a bad buy.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by BillGatesFan(m): 10:20am On May 23, 2007
Dangote is the real man,not people like IBB,after 8 years in power and with the GULF WAR oil money yet nothing is happening ,no one is earning a living from his pocket.

Dangote can even buy the Central Bank of Nigeria,if he can make more employment to our ladies and gentlemen. grin grin grin grin grin grin
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by abstarr(m): 10:42am On May 23, 2007
u guys need to open ur eyes and realise what is happening in our dear country. All our resources have been sold out to a small clique comprising of obasanjo and his friends. For example read an extract from the backpage of Today's Daily Sun:

"In the waning hours of his administration, Olusegun Obasanjo is presiding over a blatant and obscene transfer of national wealth to private pockets, including his own. It began with the latest round of oil block auctions, a euphemism for handing the nation’s oil resources to a few favoured friends. In its wake, the expiring president has approved the sale of the Port Harcourt Refinery to a consortium in which he and some well-known minions, including Aliko Dangote and Femi Otedola, have substantial interests.

Transcorp, a corporate behemoth inspired by the president, and in which he owns at least 200 million shares, is one of the beneficiaries of this sale.
In other words, a president who adopted a policy of leaving the nation’s refineries in a gutted state, has chosen to reward himself with this potential cash cow. It’s a safe bet that once in his private hands, the hitherto comatose Port Harcourt Refinery will be miraculously rescued from its disrepair, and pressed into a profit-gushing enterprise! If the refinery must be placed in private hands, must its buyers include the president himself? "

U can get the full story on: http://www.sunnewsonline.com/backpage.html

It's really sad. Not saying dagote is bad man anyway, but its important that u step back and take a look at the big picture! This man (OBJ) has robbed us all, BLIND!!!! And he has put his stooge there to protect his assets. But the one thing i know is that Yar'adua is nobody's stooge. He will clear all Obj's doubts, just as Obj cleared IBB's doubts!!!
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by uzomaeze(m): 10:47am On May 23, 2007
it was sold at as very cheap price too bad this government di not do well on that
issue
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by dasa: 10:52am On May 23, 2007
MAY GOD BLESS DANGOTE.

if we had up to 20 men like dangote who believe in Ngeria, our economy will be a lot better.

Nigerians should invest in Nigeria.

our leaders steal and deposit the funds in foreign banks. these banks give loans to their citizens to do business and their economy improves. then our government goes back and borrows our own money at a silly interest rates.

if the money is invested here, we will all benefit even if it was stolen.

Dangote should buy all he can. ATLEAST WE KNOW THE FACILITIES WONT BE MISMANAGED.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by uzomaeze(m): 10:52am On May 23, 2007
it was sold at as very cheap price too bad this government di not do well on that
issue
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by Hugoboi(m): 11:01am On May 23, 2007
if the money is invested here, we will all benefit even if it was stolen.

Dangote should buy all he can. ATLEAST WE KNOW THE FACILITIES WONT BE MISMANAGED.


I concur!!
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by haywhy(m): 1:39pm On May 23, 2007
It's possible Dangote is trying to dominate the cement industry & other sectors! The government better start imposing great laws! Before we know it the economy of Nigeria will depend on this Dangote!

Few decades ago, the British government allowed TESCO to do thesame & now its a problem! It's dissapointing that 9jerian governments don't forsee things but who knows how much Dangote pays for all this,
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by Iman3(m): 1:43pm On May 23, 2007
haywhy:

It's possible Dangote is trying to dominate the cement industry & other sectors! The government better start imposing great laws! Before we know it the economy of Nigeria will depend on this Dangote!

What is the difference btw the Govt and Dangote?
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by haywhy(m): 1:44pm On May 23, 2007
I feel you Mr essex, lol That's what I mean!
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by 2old4that(m): 3:20pm On May 23, 2007
Na wa oo!
Nigeria! Slowly becoming a one-man affair. angry
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by akara(m): 3:43pm On May 23, 2007
The man is doin good. I only have qualms with the way he put the small fish into misery. There are stories of sabotage against those who import the same commodities as he does. I dont know if this is true, but when the mand controls the ports anything can happen. abi now
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by DeepSoul(f): 3:50pm On May 23, 2007
We all know Dangote has done well for himself.

However, he's being used to cover up a lot of shady deals that go on in this country. Ever wondered why this non-politician was one of the highest donors to the Obasanjo Library?

Obasanjo wants to own this country. Stealing the money isn't quite enough. He's already started - Transcorp is just a typical example
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by oshkosh(m): 4:28pm On May 23, 2007
No point in "hating". This is the problem with our people. If Angel Gabriel came down to Nigeria and paved the streets with gold, our people will still find something to complain about. Some will suggest that maybe he wants to take the place of Jesus christ!

Let's give credit to Dangote for his vision, successes and passion for Nigeria. Big businesses - and businessmen around the world thrive on goverment contact in one form or another. 

Dangote is contributing much more than all his contemporaries towards the development of Nigeria. The same cannot be said of other billionaires - IBB, Atiku etc in Nigeria.

He is one of biggest inspirations in Nigeria and one of the  motivations for me investing thre inspite of the risks.

Even if Port Harcourt refinery is sold for $1, as long as it can contribute to alleviating the chronic problem of fuel scarcity in Nigeria, creating employment and wealth for the nation,  who cares!
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by oshkosh(m): 4:32pm On May 23, 2007
.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by oshkosh(m): 4:39pm On May 23, 2007
Obasanjo wants to own this country. Stealing the money isn't quite enough. He's already started - Transcorp is just a typical example

Hmm, when does 200 million shares in a company with over 18 billion outstanding shares translate to owning /controlling the company? Please get the facts and do the maths.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by ono(m): 5:14pm On May 23, 2007
Nigerians are indeed the ''Happiest People on Earth''. And I think the likes of Oshkosh are at the fore front of those who love living ''happily'' and being in the midst of ''happy people''.

Because Dangote ''acquired'' the FG stake in the PHC refinery, we (as the unhappy lot in this cursed country) should swallow the news hook, line and sinker. We should not criticise the acquisition objectively and in the light of what we know and see around us. Well, you guys can count me out of the happy folks in this country, because, the way I see it, we're being robbed daily by people whom we think have the interest of us all at heart, in broad daylight.
Re: Dangote, Otedola Buy Port Harcourt Refinery For N71.8bn by Ifeniyi22(m): 5:46pm On May 23, 2007
I have nothing against this men but I'm not so sure that its good news.whats for sale next cry

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