Na Dangote dey run this country

Lomprico2:
Na Dangote dey run this country

From the report.

The agency’s updated list showed that the construction of four modular refineries, with a total capacity of 23,000bpsd, had been completed.

The refineries are Waltersmith Refining & Petrochemical Company Limited in Imo State, OPAC Refineries in Delta, Niger Delta Petroleum Resources (Train 3) in Rivers, and Edo Refinery and Petrochemical Company Limited in Edo

All not owned by Dangote.

Also, there are 24 other refinereis looking for funds to complete or start.

See the list here.

BruncleZuma:


Laughing in Monopoly

DPR DG is who again

Neutralobserver:
See as people dey blame Dangote forgetting that

1.There are still 23 licences that are still extant...of which Dangote is one of them

2. Subsidy and price controls in the fuel sector makes it difficult for many companies to get loans and financing to start their refinereis...the banks won't lend them money because the price controls and subsidy means that the refineries potentially won't make enough of a profit to pay the loans back.

Danogte was able to get a loan becqause he has other assets that the banks can take over in the event of his refinery failing due to subsidy and price controls.

That is why subsidy should go.

There is no subsidy.
Even if it exist government will pay him at his selling price not the subsidise price.

The issue here is that the department of petroleum resources has no right to America give one to for thee sovereign oyibo state calm boss nose ddutdbn....

Nothing good can come out from A dead slave colony.

zed7:
We know whom these things favour. The ordinary man will never have a chance in Nigeria. If you nor know person, you are on your own.

Must you people wail all the time?

If they give you a license, can you build a refinery?

Neutralobserver:


All the more reason why subsides should go....and everyone should look for money to finance their refineries.

The problem is, Nigerians don't want subsdies to go. The rich want free money, and the poor want low prices for fuel(yes, compared to most African countries, only Angola and Algeria pay lower for fuel than we do). Subsidy benefits both sides.

your statement is not entirely correct. The issue is that Nigerians have a govt they don't trust and this govt lacks integrity. So many times this govt has increased prices of petroleum products and said it was due to subsidy removal. But the govt will come up again to say it hasnt removed subsidies, how will people trust such a govt?. Also, are refineries from space that we cannot build?. Can't we repair our old ones? Why rely so much on Dangote's refinery? These are what brings distrust.

Neutralobserver:
See as people dey blame Dangote forgetting that

1.There are still 23 licences that are still extant...of which Dangote is one of them

2. Subsidy and price controls in the fuel sector makes it difficult for many companies to get loans and financing to start their refinereis...the banks won't lend them money because the price controls and subsidy means that the refineries potentially won't make enough of a profit to pay the loans back.

Danogte was able to get a loan becqause he has other assets that the banks can take over in the event of his refinery failing due to subsidy and price controls.

That is why subsidy should go.

Which subsidy be that? No be this same govt. talk say Jona no be dey pay any subsidy and they are going to introduce it?
Upon that couple the the fall in the price of fuel, we're still buying on high price.

Neutralobserver:


Government brings it back because if they did not, prices of petrol will rise to N300 and above per liter....and Buhari would be thrown out of office before 2023, and the chaps who take over will promptly reinstate it.

Politicans will keep bad polices so long as their access to power does not get affected.

Also, the elite who benefit from free subsidy money won't like it.

You don't get what I am saying, we don't even know the exact amount they are paying as subsidy that is if they are paying. Today it is blue tomorrow it is green. They talk with their tongue in cheek. Bunch of Mfs

crazygod:

You don't get what I am saying, we don't even know the exact amount they are paying as subsidy that is if they are paying. Today it is blue tomorrow it is green. They talk with their tongue in cheek. Bunch of Mfs

All the more reason why it has to go completely

Godbless3:


Which subsidy be that? No be this same govt. talk say Jona no be dey pay any subsidy and they are going to introduce it?
Upon that couple the the fall in the price of fuel, we're still buying on high price.

1.We actually have the third lowest price of fuel in Africa, and the fifth lowest in the world.

2.Subsides have always been there, and buhari was lying when he queried the existence of subsidy. Plus GEJ did a partial removal of subsidy,....which is what all Nigerian leaders past and present have done when the cost got too much for the budget.

oz4real83:
your statement is not entirely correct. The issue is that Nigerians have a govt they don't trust and this govt lacks integrity

.

Largely becauae most of us don't do our job of holding them responsible.

So many times this govt has increased prices of petroleum products and said it was due to subsidy removal. But the govt will come up again to say it hasnt removed subsidies, how will people trust such a govt?

What the government does is partial removal of subsides....as seen below

In 2015, it cost N132 to import one liter of fuel, while it cost N87 to sell that same liter of fuel to end consumer. Government raised prices to N145, ending subsidy...till landing cost rose to N180 per liter, at which point, government brought back subsidy...ie paid the difference between N180 and N145...to keep prices at N145. Since 2017, that difference has been paid to NNPC.

iN ADDITION...government pays an equalisation fund to transporters to keep prices equal across the country....recently it reduced the amount it paid by N5 PER liter.


.

Also, are refineries from space that we cannot build?. Can't we repair our old ones? Why rely so much on Dangote's refinery? These are what brings distrust.

1.NNPC is repairing the PH refinery

2.Dangote's refinery will fail if government maintains subsidy..ie forces him to sell below what it costs him to refine 1 liter of fuel...and pays him the difference...making it diffiuclt for him to make a profit.

It is that profit uncertaninty that makes it difficult for most refinery licence holders to get funding from banks....because of subsidy, most refineres won't run profitably..and would run at a loss. Dangote got funding...because banks can simply take over his other assets if he defaults on the loans he took for his refinery.

wolement:


There is no subsidy.

Then what is government paying N103 billion monthly for? Obviously not for watering the plants at NNPC HQ

Even if it exist government will pay him at his selling price not the subsidise price.

You don't get how a subsidy works.

Right now it costs above N200 to import one liter of fuel

Government sells the same fuel to marketers below N150

The difference between both prices is the subsidy ..which is now N103 billion per month.

Also, there is the equalisaiton fund which government pays to transporters so as to prevent fuel form being sold at different price in Lagos and Kano and enugu.

Neutralobserver:


All the more reason why it has to go completely

I am still saying are they really paying subsidy or just another channel to loot money?

crazygod:

I am still saying are they really paying subsidy or just another channel to loot money?

Well, it costs over 200 naira to import one liter of fuel.

We sell that fuel at N162....

so they are paying a subsidy..ie the difference between N200 and N162 to keep prices low.

Additionally they pay an equalisation fund...to trransportters, to keep price of fuel the same whether in Lagos, Kano, Enugu or Yola, or Makurdi.

All these amount to N103 BILLION monthly.

If there was no subsiidy, by now, fuel would be at N350 per liter, and it would differ from region to region.

9ja ti tan jor


Smh

We know them. They are blocking and making other licences invalid for Dangote evil Monopoly in Nigeria.... Nigeria can NEVER [b][/b] get better again...

BruncleZuma:


Laughing in Monopoly

because other licence holders refuse to perform

Jestin:
Where is the functional refinery apc promised Nigerians?

we do not want government refineries. Private refineries will do better. Thank you

Neutralobserver:


For those shouting Dangote monopoly.

23,000bpd vs Aliko's 665,000bpd.

Can you see why it is a monopoly sir?

DaddyGoo:


23,000bpd vs Aliko's 665,000bpd.

Can you see why it is a monopoly sir?

No. A monoply implies that Dagote controlls everything about peroleum refining and distribution ...which he does not, and would also imply that the other refienreis too are run and owned by him as well.

Plus there are 20 other refinery licences that are still valid. All they need is to get funding..which some of them, as the rpeort said...are in the stage of doing so.

If you want more refinereis, allow marketers set the price of petrol, not NNPC. As a result, it would become more profitable to refine fuel in Nigeria, and there would be more refinereis built here, apart from Dangote.

Dangote took loans to build his own refinery, which banks were willing to give him because if things go bad...and he cannot pay back, they just take over his other assets and peoperties to get their money back. Many other refinery owners don't have that luxury.

Pls can anyone give me update on orient refinery in Anambra

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