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Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 (28706 Views)

BUA CEO, Rabiu Samad Overtakes Adenuga As Nigeria’s Second Richest Person / Abdulsamad Rabiu Gives Emir Of Kano, Aminu Ado, A N200M Worth Rolls Royce Car / BUA Refinery: Pres. Macron Lauds Abdul Samad Rabiu As BUA Signs Deal With Axens (2) (3) (4)

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Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by michoim(m): 2:07pm On Feb 11, 2021
lilvicky68:
Dangote and Bua will end up finishing Nigerians with high price of petroleum products with their refineries.. Nigeria self nawa oh
You are sadistic
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by ikabasa1(m): 2:07pm On Feb 11, 2021
EmeraldKing7:
When the demand for fossil fuels is about to nose dive?
Clean and renewable energy is the future

The world is driving towards electric cars and vehicle with zero carbon emission

is refinery mainly for PM's only
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by padi94(m): 2:11pm On Feb 11, 2021
God will turn them to fools, by the time they finish building the refinery fuel will be so cheap that they will just keep refining to stay afloat...

They have putnishes the innocent for too long.
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by saajus: 2:17pm On Feb 11, 2021
Nice post. But, don't forget we are like 50 years behind the Western world. So, BUA and Dangote timing is right if you do the calculation. We will start working on renewable energy by 2071. For now, we are still chasing cows from our streets.

BastardWike:
All these quota system billionaires lacks creativity and foresight. You didn't build refineries in the 1970's, 80's, 90's or even early 2000's but now that fuel cars are being phased out and renewable energy is gaining massive boost globally, that is when the craze for refinery got into their head!

You're talking about AFcta but you forgot that heavily subsidized refineries built all over the middle East, Asia and developed world will equally channel their excess capacity to Africa. How can they compete?

Why can't they spend these monies in building power plants considering that Nigeria has a massive deficit in it?

Quarter system billionaires indeed!

3 Likes

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by extol1(m): 2:18pm On Feb 11, 2021
ichidodo:
I see fuel coming down to #50 per litre..
that how you people said cement will be #500 when dangote and bua started with cement then. now we are buying cement for #4000
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Kaymansion(m): 2:20pm On Feb 11, 2021
Great one.. this company also produce spaghetti but wait oo who owns this company
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by elmessiahs(m): 2:21pm On Feb 11, 2021
wetin concern pmb, maradi railway all the way.
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by ichidodo: 2:21pm On Feb 11, 2021
extol1:

that how you people said cement will be #500 when dangote and bua started with cement then. now we are buying cement for #4000
Cement #4000?!..Oga Sofri Sofri with the lies now..
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by femmy2010(m): 2:23pm On Feb 11, 2021
lilvicky68:
Dangote and Bua will end up finishing Nigerians with high price of petroleum products with their refineries.. Nigeria self nawa oh

Tell your village big men to set up similar refineries. if they can't please keep shut and appreciate those that are creating more jobs for you and me.

3 Likes

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Minjim: 2:24pm On Feb 11, 2021
uptimum123:
Naija go better las las

I just hope and pray that damages politicians are causing now won't be irreparable
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Minjim: 2:25pm On Feb 11, 2021
ichidodo:
Cement #4000?!..Oga Sofri Sofri with the lies now..

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Nobody: 2:27pm On Feb 11, 2021
It's so sad how parental & religious moral training has failed in the mind of some people. When their people succeed they shout for everyone to hear & to some extent mock others with all names but when the same people they mock succeed they get enraged in deep jealousy & hate.
Dangote and BUA family are among the richest African merchants long before Nigeria discovered oil, so attributing their wealth with monopoly is blatant lie, they're so smart to venture into business which has the highest inventory return in the Nation.
Many Nigerians received huge billions of naira FG loan in the past all in the name of investment but later divert the money for selfish gain, we've seen some who got their asset forfeited or takenover by AMCON. These tycoons are doing investment that will bail Nigeria from FOREX suffocation but because they're Northerners some people are not happy with it while they're first to hail foreigners for investing in our homeland but still they condemn he who uses his money and choose to invest where he'll get profit.
I'm very much sure if these investment is from whites people some people would've been exhilarated with so much enthusiasm.
Jealousy is a big cancer!

5 Likes 1 Share

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by SavageResponse(m): 2:28pm On Feb 11, 2021
Can they finish construction of this refinery in just over 2 years?
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by CalmElder(m): 2:29pm On Feb 11, 2021
For those of you saying they came late, until aeroplanes, ships and heavy machines begin to run on electricity and solar energy, I don't see fossil fuel being completely phased out in the next 10 to 30 years.
They would have recouped their investment during the period.

3 Likes 1 Share

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by sulaak(m): 2:30pm On Feb 11, 2021
lilvicky68:
Dangote and Bua will end up finishing Nigerians with high price of petroleum products with their refineries.. Nigeria self nawa oh

Modular refineries and solar energy will finish Dangote and BUA. Let the competition begin
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by KunleyY19(m): 2:31pm On Feb 11, 2021
ibuildstuff:

I'm telling u, Nigeria billionaires are so dull, Africa is the only continent where the richest man is not into tech.

You wey wise how many Billion you get now
Before casting a stone let's pray to even amase half of their wealth with our so called Tech skills.
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by slimthugchimee2(m): 2:32pm On Feb 11, 2021
BastardWike:
All these quota system billionaires lacks creativity and foresight. You didn't build refineries in the 1970's, 80's, 90's or even early 2000's but now that fuel cars are being phased out and renewable energy is gaining massive boost globally, that is when the craze for refinery got into their head!

You're talking about AFcta but you forgot that heavily subsidized refineries built all over the middle East, Asia and developed world will equally channel their excess capacity to Africa. How can they compete?

Why can't they spend these monies in building power plants considering that Nigeria has a massive deficit in it?

Quarter system billionaires indeed!


I guess you know better than a multi-billion dollar conglomerate that has the finances to hire the best investment planners money can buy grin grin


You think they will make investments world billions of dollars without months and months of rigorous plannings, survey, and a clear cut business plan?

Well I guess one wike whose biggest investments is the 5k he put into MMM knows better

4 Likes 1 Share

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by KunleyY19(m): 2:33pm On Feb 11, 2021
[quote author=Minjim post=98965262][/quote]
Submit a quote with 4500 and see our your bill will be thrashed out... Use online prices at your own risk.
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Germi9: 2:34pm On Feb 11, 2021
BastardWike:
All these quota system billionaires lacks creativity and foresight. You didn't build refineries in the 1970's, 80's, 90's or even early 2000's but now that fuel cars are being phased out and renewable energy is gaining massive boost globally, that is when the craze for refinery got into their head!

You're talking about AFcta but you forgot that heavily subsidized refineries built all over the middle East, Asia and developed world will equally channel their excess capacity to Africa. How can they compete?

Why can't they spend these monies in building power plants considering that Nigeria has a massive deficit in it?

Quarter system billionaires indeed!
hausa/fulani thinking..
meanwhile Otedola has ventured into power,but dont know if its Generation or Transmission surely not Distribution.. i think in all, he's wisest.

1 Like

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Olaideolayemi(m): 2:35pm On Feb 11, 2021
I hope we shall be there one day..
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by slimthugchimee2(m): 2:36pm On Feb 11, 2021
ibuildstuff:

I'm telling u, Nigeria billionaires are so dull, Africa is the only continent where the richest man is not into tech.

They are dull and yet keep making billions daily while you the smart man hasn't made 100k in your whole life

3 Likes

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by KunleyY19(m): 2:36pm On Feb 11, 2021
slimthugchimee2:



I guess you know better than a multi-billion dollar conglomerate that has the finances to hire the best investment planners money can buy grin grin


You think they will make investments world billions of dollars without months and months of rigorous plannings, survey, and a clear cut business plan?

Well I guess one wike whose biggest investments is the 5k he put into MMM knows better

The thing dey vex me ehn... As if to be rich in Naira easy not to talk of Dollars... Those two guys are very smart they just don't enter into businesses anyhow... If there's one thing I like about the Owner of BUA it's his Guts. He isn't afraid of Dangote as a competitor.

2 Likes

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by ibuildstuff(m): 2:41pm On Feb 11, 2021
slimthugchimee2:


They are dull and yet keep making billions daily while you the smart man hasn't made 100k in your whole life

KunleyY19:


You wey wise how many Billion you get now
Before casting a stone let's pray to even amase half of their wealth with our so called Tech skills.
Make them give me half of their connection n see what I can do, quota system billionaire.

1 Like

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by 400billionman: 2:52pm On Feb 11, 2021
The cement cartel in Nigeria is reaping the masses.

Now talk to the dealers, you discover they are just servants and errands men to these manufacturers. They made so much noise about stopping cement importation, making the product cheaper, conserving foreign exchange and backward integration and all those jargon.

Only Goodluck Jonathan in the history of Nigeria once regulated the price of cement. That is how to identify a man whose govt is empathetic to the sufferings of the populace.

Even their refinery projects do not trip me. A hardened capitalist can never benefit the buying masses.

2 Likes

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by nonxo007(m): 2:54pm On Feb 11, 2021
BastardWike:
All these quota system billionaires lacks creativity and foresight. You didn't build refineries in the 1970's, 80's, 90's or even early 2000's but now that fuel cars are being phased out and renewable energy is gaining massive boost globally, that is when the craze for refinery got into their head!

You're talking about AFcta but you forgot that heavily subsidized refineries built all over the middle East, Asia and developed world will equally channel their excess capacity to Africa. How can they compete?

Why can't they spend these monies in building power plants considering that Nigeria has a massive deficit in it?

Quarter system billionaires indeed!
Just like cement, the federal government might simply ban the importation of fuel to serve their selfish interest

2 Likes

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by mechanics(m): 2:55pm On Feb 11, 2021
Good initiative.
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by erico2k2(m): 2:56pm On Feb 11, 2021
BastardWike:
All these quota system billionaires lacks creativity and foresight. You didn't build refineries in the 1970's, 80's, 90's or even early 2000's but now that fuel cars are being phased out and renewable energy is gaining massive boost globally, that is when the craze for refinery got into their head!

You're talking about AFcta but you forgot that heavily subsidized refineries built all over the middle East, Asia and developed world will equally channel their excess capacity to Africa. How can they compete?

Why can't they spend these monies in building power plants considering that Nigeria has a massive deficit in it?

Quarter system billionaires indeed!
to your question answer is very simple. They will influence govt to ban all importation of petroleum product like in the case if cement etc and they will be the sole trader
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by 400billionman: 2:56pm On Feb 11, 2021
ichidodo:
I see fuel coming down to #50 per litre..

Like cement has come down from N1500 to N3500.

Seer.
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Ibrahimmrfish(m): 2:57pm On Feb 11, 2021
BastardWike:
All these quota system billionaires lacks creativity and foresight. You didn't build refineries in the 1970's, 80's, 90's or even early 2000's but now that fuel cars are being phased out and renewable energy is gaining massive boost globally, that is when the craze for refinery got into their head!

You're talking about AFcta but you forgot that heavily subsidized refineries built all over the middle East, Asia and developed world will equally channel their excess capacity to Africa. How can they compete?

Why can't they spend these monies in building power plants considering that Nigeria has a massive deficit in it?

Quarter system billionaires indeed!
You do realize that gas will still be in use.
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by djon78(m): 2:59pm On Feb 11, 2021
KunleyY19:


The thing dey vex me ehn... As if to be rich in Naira easy not to talk of Dollars... Those two guys are very smart they just don't enter into businesses anyhow... If there's one thing I like about the Owner of BUA it's his Guts. He isn't afraid of Dangote as a competitor.


Its not easy
But they follow the path of easiest resistance

And that's major problem of many super rich folks in Nigeria
They rely so much on government patronage


How many of these men have thriving, innovative companies outside the shores of Nigeria?


They are all revolving around Nigerian economy, but outside they are weightless

Check other global billionaires
There companies are making huge impact across the globe


And the ability to rule the world globally in business is tied to capacity to think

Even South African brands are thriving greatly within the continent
We all can feel there impact here in Nigeria

How many of these Nigerian companies can you feel there impact around Africa?


The line of my argument is major reason why Nigeria ain't developed economically
Nigeria as a nation is not creating innovative and revolutionised companies
The mode of operation of things in the system is not creating platform for such

Nigeria got away before because of sales of fossil fuels
But now income is dwindling
If Nigerian government doesn't wake up from sleep
It will be too late
And there will be nowhere to hide
The economic bite is just starting

3 Likes

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Draslo(m): 3:00pm On Feb 11, 2021
BastardWike:
All these quota system billionaires lacks creativity and foresight. You didn't build refineries in the 1970's, 80's, 90's or even early 2000's but now that fuel cars are being phased out and renewable energy is gaining massive boost globally, that is when the craze for refinery got into their head!

You're talking about AFcta but you forgot that heavily subsidized refineries built all over the middle East, Asia and developed world will equally channel their excess capacity to Africa. How can they compete?

Why can't they spend these monies in building power plants considering that Nigeria has a massive deficit in it?

Quarter system billionaires indeed!
While you are correct, building a refinery in now is not that bad of an idea. It will take at least 25-30 years before electric cars are a commonplace in Nigeria and many third world countries. Probably more, even.

1 Like

Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by ichidodo: 3:00pm On Feb 11, 2021
400billionman:


Like cement has come down from N1500 to N3500.

Seer.
If energy is relatively easier and cheaper to come by...We don't see why it's by products like manufactured goods will remain high..

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