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Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery - Politics - Nairaland

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$19 Billion Soft Loan: Buhari Leads PAGGW In Negotiations / PIB Would Permit Only Dangote Refinery, NNPC To Import Fuel / Daily Petrol Shortfall To Hit 20m Litres Despite Dangote Refinery — NNPC (2) (3) (4)

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Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 3:41pm On Jun 29, 2021
LAGOS, June 29 (Reuters) - Nigerian state oil company NNPC has signed term sheets with Dangote Group to buy a 20% stake in the company's oil refinery under construction in Lagos state, NNPC's director said on Tuesday.

Mele Kyari said NNPC is in talks with banks to borrow on the back of its cash flow to buy the stake in the 650,000 barrel per day (bpd) refinery. He declined to put a dollar figure on the stake, but said the refinery is worth an estimated $19 billion.

Dangote Group previous said that NNPC and three other firms had approached it regarding a stake purchase. read more

Kyari said NNPC still needed cabinet approval for the plan, but said the value of having a stake in what would be the largest oil refinery in Africa was worth the cost.

NNPC's cash flow however is constrained by gasoline price caps that have made it the sole importer of the fuel and forced it to sell at a loss.

Kyari said he had warned the government that NNPC its remittances to the government could drop to zero due to those costs - though they had not yet done so. Union groups in Nigeria have fought against any price increases, but Kyari said he was hopeful of a deal to shed the subsidy costs within the coming months. read more

"The reality is that we can't afford it," he said. "But if you don't do something smart, you could end up with prices that Nigerians can't afford."

https://www.reuters.com/business/energy/nnpc-has-signed-term-sheets-20-stake-dangote-oil-refinery-nnpc-chief-2021-06-29/
https://punchng.com/refinery-dangote-not-happy-with-nnpc-proposed-stake-acquisition-says-kyari/

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 3:44pm On Jun 29, 2021
David Cameron was right about this fantastically corrupt country. They are about to empty the foreign reserves based on the valuation of the refinery at $95 billion dollar based on the 20% $19 billion dollar stake by NNPC.

Some people in NNPC and APC about to secure their retirement package and generations for the next thousand years.


https://www.youtube.com/watch?v=Wg7lfHL_l1w

1 Like 1 Share

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by chatinent: 3:44pm On Jun 29, 2021
They should be straightforward. It should be “Nigerian government offers themselves so and so billion dollars.”
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 3:45pm On Jun 29, 2021
chatinent:
They should be straightforward. It should be “Nigerian government offers themselves so and so billion dollars.”
How can a refinery that cost $12 billion to build be valued at $95 billion dollars . Come and see naija wonder.

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Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by wwwihy: 3:45pm On Jun 29, 2021
He will soon be one of the richest man in the world with $19 billion stake for 20%✓

I doubt if the $19 billion is for 20% stake.

Op you are saying the value of the refinery is $95 billion?

1 Like

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by lilvicky68(m): 3:46pm On Jun 29, 2021
Nothing concerning Nigeria surprises me again..how much dangote take build the refinery self??
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Perfectnumber6(m): 3:48pm On Jun 29, 2021
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Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by courage89(m): 3:51pm On Jun 29, 2021
RuudVanNisteroy:
David Cameron was right about this fantastically corrupt country. They are about to empty the foreign reserves based on the valuation of the refinery at $95 billion dollar based on the 20% $19 billion dollar stake by NNPC.

Some people in NNPC and APC about to secure their retirement package and generations for the next thousand years.


https://www.youtube.com/watch?v=Wg7lfHL_l1w

Let's see how this movie will unfolds. This people have no human feelings at all. How do you justify $95 billion monster valuation? This is madness

1 Like

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Babzrockman: 3:53pm On Jun 29, 2021
Shame on FG
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 3:56pm On Jun 29, 2021
courage89:


Let's see how this movie will unfolds. This people have no human feelings at all. How do you justify $95 billion monster valuation? This is madness
shocked
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 4:01pm On Jun 29, 2021
All all of us will stand and watch as Northern Nigeria bankrupt to country to enrich their elites.

Gullible Southerners against secession are busy celebrating MNK's arrest meanwhile their destines have become the victim of a bait and switch scam.

By the time Buhari is done borrowing and siphoning into Northern purse you will no the gigs up.

The Leader of Arewa Consultative Forum in a recent meeting advised Northern Politicians not to leave office broke. I hope you know what that means.

Nigeria's end is eminent, now they want to grab as much as they can and divert to Dubai, London and Niger.

Wake up. Break Nigeria now.
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by FarahAideed: 4:04pm On Jun 29, 2021
This is outright fraud , the entire Refinery budget from start to finish was actually 14 billion dollars and this is even an overvaluation if it's cost as professional suggest that refinery can't cost more than 8 billion dollars

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Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 4:05pm On Jun 29, 2021
Chigator:
All all of us will stand and watch as Northern Nigeria bankrupt to country to enrich their elites.

Gullible Southerners against secession are busy celebrating MNK's arrest meanwhile their destines have become the victim of a bait and switch scam.

By the time Buhari is done borrowing and siphoning into Northern purse you will no the gigs up.

The Leader of Arewa Consultative Forum in a recent meeting advised Northern Politicians not to leave office broke. I hope you know what that means.


With this dubious valuation Dangote is about to surpass Warren Buffet and Mark Zuckerberg and become the 5th richest man in the world.

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Sunnybay7: 4:06pm On Jun 29, 2021
They should also remember to name the country after him

1 Like

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Housing(m): 4:08pm On Jun 29, 2021
If it is true the Federal Government is buying 20% stake in Dangote refinery at $19Billion US Dollar, that will be the highest financial crime against this country (Nigeria), Dangote refinery that cost less than $Billion US Dollar including the Fertilizer Plants.

This is not only "State Capture" but "State Slavery"

Investing in Dangote refinery should be at a reasonable and competitive price.

Why pay $19Billion for an equity stake that is less than $5Billion US Dollar?

We are waiting and watching.
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 4:10pm On Jun 29, 2021
Housing:
If it is true the Federal Government is buying 20% stake in Dangote refinery at $19Billion US Dollar, that will be the highest financial crime against this country (Nigeria), Dangote refinery that cost less than $Billion US Dollar including the Fertilizer Plants.

This is not only "State Capture" but "State Slavery"

Investing in Dangote refinery should be at a reasonable and competitive price.

Why pay $19Billion for an equity stake that is less than $5Billion US Dollar?

We are waiting and watching.
South Africa just jailed Jacob Zuma for 15 months in his corruption trial for using the Gupta's to capture key state resources.

cc

TMKSouth
IronGalaxy
Joziboi

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 4:13pm On Jun 29, 2021
wwwihy:
He will soon be one of the richest man in the world with $19 billion stake for 20%✓

I doubt if the $19 billion is for 20% stake.

Op you are saying the value of the refinery is $95 billion?
Do the maths= 20% of $95billion = $19 billion.
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by TMKsouth: 4:16pm On Jun 29, 2021
RuudVanNisteroy:

South Africa just jailed Jacob Zuma for 15 months in his corruption trial for using the Gupta's to capture key state resources.

cc

TMKSouth
IronGalaxy
Joziboi

Jailed not for corruption (yet) - but for refusing to appear before a commission investigation corruption during his time as president.
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by kettykin: 4:19pm On Jun 29, 2021
The refinery is worth $14b and someone is offering $20b for 20% stake.

1 Like

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Jones4190(m): 4:21pm On Jun 29, 2021
IS PDP SHIP SINKING?

JOE IGBOKWE POSTED:

PDP lost all these within 2 years:
Gov. Dave Umahi joined APC
Gov. Ben Ayade joined APC
Gov. Matawalle joined APC
H.E Gbenga Daniel joined APC
H.E Murtala Nyako joined APC
H.E Bala Nglari joined APC
Sen. Grace Ben Joined APC
Sen. Elisha Ishaku Abbo joined APC
Sen. Abdulazeez Nyako joined APC,
Sen. Iyiola Omisore Joined APC
Sen. Barnabas Gemade joined APC
Sen. Isa Hamma Misau joined APC,
San. Sahabi Yau joined APC
Sen. Lawal Daniya joined APC
Sen. Hassan Nasiha joined APC
Former speaker, Dogara joined APC
Former speaker, Bankole joined APC
Former Army chief, Azubuike Ihejirika joined APC,
Prince Olusegun Adeleye joined APC,
Engr Adeola Sosanwo joined APC,
Chief Jimoh Ibrahim joined APC,
Former Head of Service of the Federation, Mr Danladi Kifasi joined APC,
Alhaji Salisu Takai joined APC.
APGA National secretary, Shinkafi joined APC
Serving house of reps members that joined APC are:
1. Hon. Ephraim Nwuzi from Rivers State,
2. Hon. David Abel from Taraba State,
3. Hon Kolawole Lawal from Ogun State
4. Hon. Datti Yako from Kano State
5. Hon. Danjuma Shittu from Taraba State,
6. Hon. Tajudeen Adefisoye from Ondo state
7. Hon. Hon. Sam Onuigbo from Abia
8. Hon. Hon. Blessing Onuh from Benue
9. Hon. Yakubu Abdullahi from Bauchi
10. Hon. Abiola Peter Makinde from Ondo
11. Sen Peter Nwaoboshi dump PDP to APC from Delta State North.
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 4:21pm On Jun 29, 2021
TMKsouth:


Jailed not for corruption (yet) - but for refusing to appear before a commission investigation corruption during his time as president.
The trial was based on state capture he would have received the same verdict or even more jail time. The Gupta's he helped aid with state capture of resources have fled South Africa.

Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 4:22pm On Jun 29, 2021
kettykin:
The refinery is worth $14b and some is offering $20b for 20% stake.
Naija wonder
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by wwwihy: 4:22pm On Jun 29, 2021
RuudVanNisteroy:

Do the maths= 20% of $95billion = $19 billion.
I calculated the $95 billions... which is $19b divided by 20%

Why your question?
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 5:16pm On Jun 29, 2021
wwwihy:

I calculated the $95 billions... which is $19b divided by 20%

Why your question?
You said you doubt if the $19 billion is for the 20% stake, when the MD clearly state it was.
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 2:59am On Jun 30, 2021
Sunnybay7:
They should also remember to name the country after him
Re: Free Refinery:NNPC To Borrow $19 Billion To Buy 20% Stake In Dangote Refinery by Nobody: 3:19pm On Jun 30, 2021
lilvicky68:
Nothing concerning Nigeria surprises me again..how much dangote take build the refinery self??
$15 billion

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