honeychild:
Please o, was Dangote given an exclusive license to build refineries? Why is no other Nigerian doing so? I know we have other billionaires who can afford such a project.

Please pardon my ignorance, I am genuinely curious.

The other billionaires are satisfied with the billions they make hence they refused to do the needful.


I am very disappointed in dem.

majekdom2:
Investments are risks. Perhaps, the billionaires you know are not ready to take this kind of risk.

No. The man has a way of fighting off competition. Remember he once fought his friend Otedola because he wanted to venture into hisine of business.. They were settled by Obj

GOD BLESS NORTHERN NIGERIA
GOD BLESS DANGOTE
GOD BLESS NIGERIA.

obailala:
Do you know why all the refineries in Nigeria are dead?.... it's because the government in collaboration with big businessmen killed the refineries so they can import fuel and make trillions from subsidies. Most of these so called devilish businessmen (including some leaders) actually stole money from Nigeria and built refineries in other countries from where they refine and import fuel to Nigeria and get massive subsidy payments; at a point, even Ibori was rumoured to have a refinery in south africa (a non-oil producing nation).

So coming back to Dangote, if Dangote was like every other businessman who was only out to make money even at the monumental detriment of Nigeria, Dangote could have made much more money locating his refinery outside Nigeria and joining the fuel import crew, but he did the opposite which no single businessman has done till date.

Sure

But when his own is completed, we have no choice than to use his own which will make him more richer and smarter than the rest.

This isn't being Passionate. Its called FORESIGHT

honeychild:
Please o, was Dangote given an exclusive license to build refineries? Why is no other Nigerian doing so? I know we have other billionaires who can afford such a project.

Please pardon my ignorance, I am genuinely curious.

Perhaps,our billionaires can't afford the risk Dangote could.

giantstrides:

open your eyes dude, and get to work

Me having a dream does not mean I don't work

cyberdurable:
[size=20pt]one fact about Nigerians We are Hungry[/size]

[size=15pt]Buhari yaf killed us all[/size]

Are you typing from hell?

Whynotthetruth:


Not too sure but I think the bias in policy formulation cum implementation in Nigeria is also a factor... Example; Ibeto cement that was clamped down under Obj for Dangote cement with other brands sited in North to grow...Same Ibeto came back to business under Jonathan...and is having issues again under Buhari...

Dangote seems more a monopolist than a capitalist btw

Was Ibeto producing cement or bagging it?

The government stopped importation of cements and not Ibeto only.

Love Machine:
Dangote is exploitative.

that one na for your pocket

the indigenous of that area hope you dangote we give them automatic empolyement

izzou:


Sure

But when his own is completed, we have no choice than to use his own which will make him more richer and smarter than the rest.

This isn't being Passionate. Its called FORESIGHT

If he built a refinery of this scale somewhere else, he could have made the money much faster. But then I agree with you, even though he doesnt make the bucks as quickly or as easily as his mates, upon completion, he will instantly send them all out of business, and that's good foresight. You cant however completely rule out his passion for country.

naptu2:


Other nigerians are building refineries, but it is an expensive and difficult task, so Dangote has the advantage of being richer and being able to attract more experienced people to his refinery. That's why it's getting more attention.

Oando plan to build a refinery in Badagry.

Captain Emmanuel Iheanacho also plans to build a refinery in Badagry.

The Ogun and Ondo state governments plan to build a refinery at Olokola.

Plan!

obailala:
If he built a refinery of this scale somewhere else, he could have made the money much faster. But then I agree with you, even though he doesnt make the bucks as quickly or as easily as his mates, upon completion, he will instantly send them all out of business, and that's good foresight. You cant however completely rule out his passion for country.

True talk

seguun:
1. Over $4 billion worth of equipment currently sits on the site.
2. The project is slated to cost $14 billion (N2.8 trillion) of which Dangote is contributing $7 billion in equity.
3. The project site is larger than Victoria Island. It is located on 2135 hectares of land in Epe, Lagos near the Lekki Free Zone
4. It is the largest industrial complex in Africa
5. Work goes on, on the site, 24 hours a day, 7 days a week
6. World Record 2.72 million accident free hours recorded on site, without a single lost time to injuries
7. It is the largest single train grass roots refinery in the world with a processing capacity of 650,000 BPSD
8. Dangote Group brought in the world’s #1, #2, and #5 sand dredgers to sand fill the site. 60% of the land being swampy. So far these dredgers have reclaimed 13 million m³ out of 30 million m³
9. During construction, the project will employ over 25,000 Nigerians
10. When this project comes online, Nigeria will save a minimum of $10 billion a year on imports
11. The Ammonia component of the plant will produce 2.8 million tonnes of Urea
12. Dangote is producing its own electricity to power the plant and by so doing is saving 75% costs. Dangote produces electricity at a rate that is significantly cheaper than the Federal Government. Dangote’s cost is $400,000/MW, while Federal Government is $2,000,000/MW
13. All the civil engineering is done by Nigerian companies
14. The plant has an export value of $6 billion per annum, meaning Dangote’s effort will increase the amount of foreign exchange in Nigeria’s foreign reserves by at least 40% of current value on a yearly basis
15. Dangote said when this project comes on line, his friend Femi Otedola will save at least N26 per litre on millions of litres of diesel and petrol which his companies import annually. This savings will be passed on to the consumers and it will take a lot of pressure off the banks
16. Billions of Naira were paid to acquire the land and to settle the existing communities. More money was also allocated and spent to relocate the existing communities
17. This project will restore the dignity of Nigeria, a crude producing country that has for years gone abroad to meet its demand for refined products
18. Refined products to be produced at the plant include but is not limited to propane, petrol, Jet Fuel, Diesel, Kerosene, Carbon Black, Polypropylene, Polyethylene
19. The United States Trade and Development Agency is supporting this project with $997 million.

Copied: from Nigerian Renaissance Youths

.
And many Yorubas, Igbos and non northerners will be insulting them as clueless people, but just one of them is the most visionary nation builder in Nigeria.

Dangote, is a government business man. Very very exploitive. Op said that currently he is charging $400,000 for Mw of electricity while FG is charging 2million. Give Dangote the opportunity to supply power to Nigerians he will increase it to 5million over night. See what is happening with our Cement prices and companies today. The idea of building all these are good, but monopoly is very very bad. Giving Dangote the lead way to do anything business and also on the other hand killing other business Men to prosper Dangote is not commendable. There should be equal opportunities. I vividly remembered when IBETO threatened to sell a bag of cement for N500, Obasanjo, Dangote and their allies ceased IBETO's vessel for 2 years. IBETO nearly died, just to prosper Dangote group. The records are there.

honeychild:
Please o, was Dangote given an exclusive license to build refineries? Why is no other Nigerian doing so? I know we have other billionaires who can afford such a project.

Please pardon my ignorance, I am genuinely curious.

Dangote is not like any other business man, he is a government himself. He is the only one who can get government to bend or alter their policies to support him. That he started building his refinery when there was no deregulation in the sector should tell you the level of confidence.
As long as Dangote has interest in that sector, it will be difficult for other guys to venture there because he would always have the government backing advantage.
On the positve side, we hope it would crash the price of fuel but dont put your trust in any business man, they target would always be to make money and more money.

God bless the day dangote was born & the womb that gave birth to you. I pray God will make me a blessing to my world like dangote is.

siraj1402:
And when will the project completed?

I heard 2019

honeychild:
Please o, was Dangote given an exclusive license to build refineries? Why is no other Nigerian doing so? I know we have other billionaires who can afford such a project.

Please pardon my ignorance, I am genuinely curious.

No. Orient Petroleum Resources was given license, they started clearing a bush in Anambra, then came to do private placement in 2008, we invested but we later discovered we have been scammed. The rest is now history

All I can say is WOW
May Almighty God take away any and every bottlenecks to ensure the smooth success of this project in Jesus name Amen

forgiveness:


Plan!

Exactly! Like I said, building a refinery is not child's play and Dangote is getting all the attention because he has the financial muscle and connections to make it easier.

Captain Iheanacho has secured the land, but there are still other obstacles that he must overcome. Oando has also been working on its refinery for a long time.

It's not that Dangote hasn't had problems, but his resources ensure that he is able to quickly overcome them. For example, this refinery was initially meant to be built at Olokola, but the people there protested because they wanted Dangote to give them more money. Lagos State immediately stepped in and wooed Dangote to build the refinery in Lekki instead and the rest is history.

I like dangote but his products are still not cheap enough.... He would have been world no 1 by now if it was a bit cheaper.

honeychild:
Please o, was Dangote given an exclusive license to build refineries? Why is no other Nigerian doing so? I know we have other billionaires who can afford such a project.

Please pardon my ignorance, I am genuinely curious.

I would rather prefer Dangote than any other illegal billionaire

Themandator:


No. The man has a way of fighting off competition. Remember he once fought his friend Otedola because he wanted to venture into hisine of business.. They were settled by Obj

he fought and had his way..... that's business. Stay ahead or do away with competition.

Love Machine:
Dangote is exploitative.

Your comment is a blight on this thread, I wish you will delete.

vikkeee:

Me having a dream does not mean I don't work

just advising chief, dreams are not achieved with the eyes closed, that is Why it is called a Dream .

Love Machine:
Dangote is exploitative.

If you can't say something good about somebody, please shut up

honeychild:
Please o, was Dangote given an exclusive license to build refineries? Why is no other Nigerian doing so? I know we have other billionaires who can afford such a project.

Please pardon my ignorance, I am genuinely curious.

do we really have billionaires who can cough out 14billion dollars? With the fluctuation in oil prices sef, the investment may prove too risky