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Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS - Business (3) - Nairaland

Nairaland Forum / Nairaland / General / Business / Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS (44122 Views)

Femi Otedola Spends His Democracy Day At Dangote’s Refinery / An Overview Of Dangote Refinery Plant In Lagos - Video And Photos / Gigantic Equipment Being Brought In For Dangote's Refinery In Lagos (Photos) (2) (3) (4)

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Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by mikolo80: 6:48am On Jan 11
nairaman66:


Dream on!! The world is moving from petrol based economy!! That’s why every country out there are diversifying!! So you think we are still in the 1800??
you funny
Is it battery you will use to smelt iron
Or to run tanks and jets?
The world will run on fossil fuel for a long time before we find alternative

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Firebomber: 6:48am On Jan 11
Toosure70:
robbing us to grow. God dey o

brother I dey tell you.

I can bet it that once that refinery start working, the will reduce the fuel price from #140 to #130, and that's how we are going to be buying it without complain.

I use to tell my guys that dangote is one of the unknown enemy Nigerian have. just check the different in price of it products and compare it with those one been imported, just a slight different, yet some people are praising him.

2 Likes

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by mikolo80: 6:51am On Jan 11
Toosure70:
robbing us to grow. God dey o
it's not by force to buy his product o
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by specter(m): 6:54am On Jan 11
theoldpretender:


Dangote spent 3bn of his money on the project.

The rest of the money came in the forms of loans and grants from banks like the African Development Bank which the previous government helped him get

Also it cost 9bn

GEJ's govt had smart thinkers and now,somehow, it becomes self explanatory what GEJ posited when he opined that you just have to take the yam away from goats not because you can't discipline the goats for eating the yam in the first place, but for the sake of national peace, you act smarter.

This was a smart measure to counter the excesses we were/are presently footing as a country on subsidy as well as the incidental cost of transportation.

I believe he suffered some set back as his expansion rate has kinda slowed down on the last 3years especially investments in the automobiles and consumables sector. Dangote & Sino trucks have not really made progress as it did in 2013-15.

It may also be safe to conclude that, that's the duo's rationale for courting this present govt? Otherwise, I see no reasonable support this govt has offered the manufacturing sector in terms of tax holidays and liquidity injection to stimulate growth and employment as well as reducing the cost of production.

Their business might yet bleed from the shock suffered during the hay days of PMB's inaction which was major disaster for most business entities plagued at that time with loans and contractual obligations in dollar denominations.

Well! Let's see what it will take to break Nigerians from the slumber and foolishness and arouse an unquenchable lust for national development rather than tribal and ethno-religious bigotry.

2 Likes

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by lonelydora: 6:54am On Jan 11
omonnakoda:


He has come delay /cash crunch issues

These were all in the public domain.

I think he is now on course for 2022
I suspect he may have to get other investors on board as opposed to the sole ownership model but I am just speculating on that one

Losing $2b in a year is no joke. It may have affected him. Anyways, kudos to him for venturing into this
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Bloooody(m): 6:55am On Jan 11
Abortedfetus:
like play like play,
dangote to take over.

bet me and Mark my words,
he is gonna become d richest man in d world.
Not possible.
Do you know how much Jeff bezos and Bill gates make every minute?
Dangote is based in Africa .those two are international
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 6:55am On Jan 11
MANNABBQGRILLS:

What kind of haters with negative vibes do we have on this forum for Krissake?
How do you guys live with negativity 24/7?!
Shame.
Guy please calm down nd be civil

Your remark is unnecessarily emotional
I am not a "hater". That word is for children
I am happy that there will be a refinery
The fact is Dangote himself said the refinery would be completed in 2018 and start production in 2019 that was his projection
It seems that has shifted to 2022. That is business.
The projected is expected to cost $11 billiion. It appears that the expected source of finance did not materialise leading to delay . It certainly will not produce this year

These are all matters of fact and are IN THE PUBLIC domain. I am not making any new disclosure

So where then do you come from with the name calling and abuse?

What is the basis fr that?

Must everyone be political?
If one does not say what you like or know then you start abuse.?

I do not know your age but you act like a youth. There is no justifiation for calling me a hater. None

2 Likes

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Firebomber: 6:56am On Jan 11
mikolo80:
it's not by force to buy his product o

But his product always skyrocket the price of his competitors product through the help of our useless political... that's dangote tactics.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by AfonjaConehead: 6:56am On Jan 11
MANNABBQGRILLS:


This is MASSIVE.
The first in the history of Nigeria.
We are getting to a new dawn gradually.
God bless Nigeria.

Sharrap,thank you.
grin
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Afamed: 6:58am On Jan 11
forghon:
They will personally forgt say this one na aboki grin
That's their hypocrite

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by moshino(m): 6:58am On Jan 11
omonnakoda:
This year?

The truth is that Dangote does not have the money to complete the project this year.

Earlier they said it would be ready by now

How much can you and your father bring to help complete the project this year?
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 6:59am On Jan 11
lonelydora:


Losing $2b in a year is no joke. It may have affected him. Anyways, kudos to him for venturing into this
he did not "lose" $2 billion

really .Depreciation of stock value and reduction in net worth is not the same as "losing" the money. Stock prices go up and down all the time and last year was bad for stock everywhere

3 Likes 1 Share

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by ikorodureporta: 6:59am On Jan 11
Looks like a masquerade
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 7:01am On Jan 11
moshino:


How much can you and your father bring to help complete the project this year?
This year our charity work will be contributing to your mothers psychiatric care

2 Likes

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by joshnnanna: 7:04am On Jan 11
omonnakoda:
This year?

The truth is that Dangote does not have the money to complete the project this year.

Earlier they said it would be ready by now

Negative vibes oozing out from you this morning. What Nigerian government couldn't do in our over 50 years of independence this man is doing in less than 3years. It's good news for Nigeria.

Stop being a pessimist.

2 Likes

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by bluefilm: 7:04am On Jan 11
pcicero:


This is a cheap way to attack opinions.


What nonsense opinion is that, if I may ask?

Note: by their words, we shall know them.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by theoldpretender(m): 7:06am On Jan 11
omonnakoda:
You are guessing .
There is no need to manufacture stuff just to sound knowledgeable.
Grants from where? Please mention one entity that gave a grant and how much

1.From the BBC report in 2013

The entire venture would cost $9bn, with $3bn in equity from Dangote Industries and $6bn to be raised in loan capital.

The initial loan facility was co-ordinated globally by Standard Chartered and in Nigeria by Guaranty Trust Bank, London's Financial Times newspaper reports.
[
/i]


2.Also, there is this from Reuters

[i]By Didi Akinyelure

LAGOS, July 24 (Reuters) - Africa’s richest man, Aliko Dangote, has arranged more than $4.5 billion in debt financing for his Nigerian oil refinery project and aims to start production in early 2020, he told Reuters.

Dangote, who built his fortune in cement, is building the world’s largest single oil refinery with capacity of 650,000 barrels per day (bpd) to help to reduce Nigeria’s dependence on imported petroleum.

SPONSORED

Despite being a crude oil exporter, Nigeria imports the bulk of its petroleum because of a lack of domestic refining capacity.

Lenders would commit about $3.15 billion, with the World Bank’s private sector arm providing $150 million, Dangote said, adding that he was investing more than 60 percent from his own cash flow.

Dangote Group has said that Standard Chartered Bank was arranging funds for the project.

“We will end up spending between $12 billion to $14 billion. The funding is going to come through equity, commercial bank loans, export credit agencies and developmental banks,” Dangote said in an interview in Lagos on Tuesday.

“Hopefully, we will finish mechanical (construction) by next year and products will start coming out in the first quarter of 2020.”


Nigeria’s central bank would provide guarantees for about 575 billion naira in local currency for 10 years, with African Development Bank providing a $300 million loan. Trade banks from China, India and some European countries are also in the mix, Dangote said.

The planned refinery and petrochemical complex is expected to account for half of Dangote’s sprawling assets when it is finished next year.

Last week Dangote signed a loan of $650 million with the African Export-Import Bank (Afreximbank) for the project.

Dangote said he was looking to acquire more oilfields as his focus shift towards the oil sector to feed the refinery



Thanks.

3 Likes 1 Share

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by MANNABBQGRILLS: 7:06am On Jan 11
omonnakoda:
Guy please calm down nd be civil

Your remark is unnecessarily emotional
I am not a "hater". That word is for children
I am happy that there will be a refinery
The fact is Dangote himself said the refinery would be completed in 2018 and start production in 2019 that was his projection
It seems that has shifted to 2022. That is business.
The projected is expected to cost $11 billiion. It appears that the expected source of finance did not materialise leading to delay . It certainly will not produce this year

These are all matters of fact and are IN THE PUBLIC domain. I am not making any new disclosure

So where then do you come from with the name calling and abuse?

What is the basis fr that?

Must everyone be political?
If one does not say what you like or know then you start abuse.?

I do not know your age but you act like a youth. There is no justifiation for calling me a hater. None
Okay, good to know you are not a hater.
Cos haters resent us a lot.
They are always happy with negative news about the country and always ignore the good news such as this.
You see almost 20 people are attacking you already, we aren't the only one.
Guess its the choice of words you used.
We take the word back. (edited)
Apologies.
Stay blessed Omon.
Chop knuckles correct man!

1 Like 2 Shares

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 7:08am On Jan 11
joshnnanna:


Negative vibes oozing out from you this morning. What Nigerian government couldn't do in our over 50 years of independence this man is doing in less than 3years. It's good news for Nigeria.

Stop being a pessimist.
How am I being a pessimist?
Yes it is good news did I say otherwise

I am not here to offer you English or comprehension lessons

The fact is that Dangote said this project would start production in 2019 reality is this may not be until 2022.
It is still good news but I am not a mumu follow follow . I like to deal in reality.

If that makes me a pessimist in your book that is YOUR probllem

Do not tell me what to be or how to be
I will not tell you not to be a mumu
It is your brain use it how you like

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by merineze: 7:10am On Jan 11
omonnakoda:
This year?

The truth is that Dangote does not have the money to complete the project this year.

Earlier they said it would be ready by now

Learn to talk about what you know.The completion period was extended as the capacity was increased too.

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 7:10am On Jan 11

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by MANNABBQGRILLS: 7:11am On Jan 11

1 Like 2 Shares

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 7:12am On Jan 11
merineze:


Learn to talk about what you know.The completion period was extended as the capacity was increased too.
Shut up
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by adecz: 7:14am On Jan 11
shocked shocked shocked shocked shocked shocked

This one be like Atomic Bomb!!!

shocked shocked shocked shocked shocked shocked
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Isobug: 7:18am On Jan 11
Oboy see facility!
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by GeorgeTheCoder: 7:22am On Jan 11
omonnakoda:
Dangote's net worth is $14 bilion almost all of which is his shareholding in his cement business

Thi project is $11 billion .As far as has been disclosed he is the sole owner unless he is fronting for others . He himself has admitted he is borrowing. Has he succeeded in borrowing the $11 billion? or is the figure inflated

He is not the sole owner of the business

1 Like 1 Share

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by moshino(m): 7:22am On Jan 11
omonnakoda:
This year our charity work will be contributing to your mothers psychiatric care

Make una see food to chop first.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by deepwater(f): 7:29am On Jan 11
NessaBoo:


*DeepSigh!! Oh dear!!

You just keep contradicting yourself, but you said they were supposed to start earlier than this, I was giving you "projected" time of completion.

To make matters worse, you're grandstanding on ignorance!

Ignorance?!

Obviously, you know nothing about the refinery.

Even kachikwu and yemi had to swallow their words last year (don't scream, the links in here already).

My dear abeg make Una dey discuss matter wey Una understand abeg.

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 7:29am On Jan 11
theoldpretender:
It is nice, but it won't solve our fuel supply issue.

Only subsidies removal which attracts foreign and local investment to build more refineries will do the trick.

But no one wants that. Nigeria is somehow too poor for good economic policies
This is an $11 billion project , one of the biggest in history, it has started without subsidy removal so that already kncks the subsidy removal argument on its head.

I do not support subsidy but your argument that
Only subsidy removal will do the trick is another of the several "ONLY" dogmas doing the rounds with no basis in logic.
There is no connection and such an assertion indicates poor understanding of the issues

Bear in mind that subsidy originally meant ,when our refineries worked, under recovery - though different from how it is used now.

i.e the subsidy came in the form of Crude oil.
X number of barrels of oil were allocated for local use to our refineries for free. Now in the era of JV the oil majors would demand to be paid their share fr every single barrel


There is no law compelling petroleum refiners to sell their products at subsidized rates if they do not receive subsidy/subsidized products

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 7:31am On Jan 11
GeorgeTheCoder:


He is not the sole owner of the business
Interesting

Who are the other owners and what is the ownership structure??
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by mikolo80: 7:32am On Jan 11
Firebomber:


But his product always skyrocket the price of his competitors product through the help of our useless political... that's dangote tactics.
how
Is it his fault that none of his competitors can supply demand
Lafarge has 3 million ton cement plant
Knowing fully well that Nigeria needs 14 million
Did dangote stop them from building cement plant
Is it him or govt that stop you from farming rice and wheat and sugar?

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by mikolo80: 7:32am On Jan 11
Firebomber:


But his product always skyrocket the price of his competitors product through the help of our useless political... that's dangote tactics.
how
Is it his fault that none of his competitors can supply demand
Lafarge has 3 million ton cement plant
Knowing fully well that Nigeria needs 14 million
Did dangote stop them from building cement plant
Is it him or govt that stop you from farming rice and wheat and sugar For almost 30 years ?

1 Like

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