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Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS - Business (5) - Nairaland

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Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by AntiWailer: 8:20am On Jan 11
omonnakoda:
Yours will die next week

grin grin grin grin grin

Ode.

If you have such power, your life won't be this miserable and hopeless.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 8:21am On Jan 11
AntiWailer:


grin grin grin grin grin

Ode.

If you have such power, your life won't be this miserable and hopeless.
I don't have such power
Ogun kills his dogs when they reach their due date
This dog is on the menu next week
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by blackgold2018(m): 8:26am On Jan 11
odutolasodiq:
Agreed! but not by refining crude oil. Attention is being given to renewable energy globally.
And to recycle or renew this energy you'l need petroleum products to produce them.
You people have to understand petroleum products can never go extinct. The demand will only reduce a little due to your point raised.

2 Likes

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by INTEGRITYA1(m): 8:27am On Jan 11
Ibeju-Lekki top real estate destination for investors. It making more sense over there on daily basis.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by odutolasodiq(m): 8:31am On Jan 11
blackgold2018:
And to recycle or renew this energy you'l need petroleum products to produce them.
You people have to understand petroleum products can never go extinct. The demand will only reduce a little due to your point raised.
The demand wouldn't be enough to make him the richest in the world. That's my point.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by AntiWailer: 8:33am On Jan 11
omonnakoda:
I don't have such power
Ogun kills his dogs when they reach their due date
This dog is on the menu next week

mchewww Ode.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by 989900: 8:34am 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
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Bagehot: 8:36am 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??

True, but fossil fuels are still going to be around for a few more decades. The change-over to renewables would be gradual.

2 Likes 1 Share

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 8:39am On Jan 11
AntiWailer:


mchewww Ode.
7 days
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by ashjay001(m): 8:43am 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

Well, that's d difference between Dangote n d common man. That project won't be allowed to fail! Na govt pikin
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by 989900: 8:43am On Jan 11
theoldpretender:


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.
Kudos!

You did justice to providing 'facts' to arm chair opinionated folks.
I don't have their energy anymore, I just strikethrough their ill-informed soliloquies.

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by emmanuelpopson(m): 8:44am On Jan 11
how sustainable will the refinery be when most countries are going Green.. I won't believe Africa will be left behind as the vehicles using fossil fuel will be shipped to Africa by then.. but I will not be surprise that we may not go Green until a century or so.. then dangote will have his money back...
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by gondon(m): 8:50am On Jan 11
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Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by bozzyjoan(m): 8:53am 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

The project was to engulf $11b initially but due to the floating of the forex it reached an unpresidented $19b. Also dangote borrowed $3b each from nigeria banks and world bank respectively initially. So My brother dangote franchise as the highest investment in this which makes him the owner of the refinery cuz he gave about $4b at the begining of the project 5 years ago.while others are giving him the money bit by bit.Its morning bro,b4 u want to argue use google and if u are nt satisfied argue with your keypad.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 8:53am On Jan 11
ashjay001:


Well, that's d difference between Dangote n d common man. That project won't be allowed to fail! Na govt pikin


Did I say it will fail?

I said it won't be completed this year.

With hindsight maybe the scale of the project ( 650000 barrels daily) was too big for Dangote Group alone in that time frame . I am sure he could raise money by selling shares but that would reduce his percentage which he seems unwilling to do. Even the Niigeria Sovereign Wealth fund and perhaps pension funds
The reality is the economic downturn has slowed the project down by at least two years but that was probably known to Dangote all along. What people say and what they know are dfferent things

Also intersting is that he said he woud finish this before puchasing Arsenal FC .That too is delayed grin
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by ADRIAN88(m): 8:54am 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.
Abortedfetus I like your optimism, but in this time and age, only technology-driven endeavours targeted at solving more realistic world problems can guarantee an individual/group of individuals that coveted position of being the richest in the world; and let's not forget there is a general tilt to more renewable sources of energy other than crude oil amongst others. Just saying...

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 8:55am On Jan 11
bozzyjoan:


The project was to engulf $11b initially but due to the floating of the forex it reached an unpresidented $19b. Also dangote borrowed $3b each from nigeria banks and world bank respectively initially. So My brother dangote franchise as the highest investment in this which makes him the owner of the refinery cuz he gave about $4b at the begining of the project 5 years ago.while others are giving him the money bit by bit.Its morning bro,b4 u want to argue use google and if u are nt satisfied argue with your keypad.
Dangote borrowed from World bank? Really

What is the source of al these your "details" please share with us
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by souljaboi51(m): 8:56am On Jan 11
Once production starts, the price of petrol will sky rocket
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 9:00am On Jan 11
theoldpretender:


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.

Very simple question
I ask AGAIN

GRANT from where

Do you know the meaning of the word GRANT

You said he got "GRANTS"

Once again

GRANTS FROM WHERE

This your PhD thesis does not answer that question
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 9:03am 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


theoldpretender:


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.

Please answer the question

Grants

Grants from where
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Shawnnn01: 9:04am On Jan 11
SternProphet:

I beg your pardon. Nigeria's population in the lifecycle of this refinery is 400m. His might be the only refinery supplying petrol to half of that figure. Add at least 20 other petrochemical products supplying raw materials to thousands of African industries, industrial gases and so on. He might just be the richest African.
Being the richest in Africa is not the same as the world.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Sunmolar(m): 9:15am 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??

it's not all about petroleum, there are greater products from distillation. about 7 products.
so petrol is just a fraction of it.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by winterfell007(m): 9:16am 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

Nobody gave him grants. But he secured loans from a host of financial institutions.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by CyberWolf: 9:17am On Jan 11
To go buy lands for this Ibeju Lekki no go be a bad idea oo
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by omonnakoda: 9:36am On Jan 11
winterfell007:


Nobody gave him grants. But he secured loans from a host of financial institutions.
The whole world and his son knows that? The person I was speaking with said he got grants!!
Are you their barrister
Your point is?
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by obailala(m): 9:37am On Jan 11
colossus91:

I doubt that bro,not with the way the world is going and how naira is dwindling!!
If Dangote completes his refinery and petrochemicals/fertiliser plant and becomes a vicious monopoly (which he will), his current ~$10bn worth will more than double in no time to about $25bn.

When the Dangote refinery is fully ramped up, it can actually produce enough to cover Nigeria's entire product demand; and remember, we also have several modular refineries springing up here and there which will also be completed in no time, and the moribund govt refineries which are operating at less than 20% capacity will all add to Nigeria's overall refining capacity. At that time, Nigeria could even be exporting petroleum products to gain more forex from 2020/2021 and I can assure you the govt then can/will halt or even ban importation of petroleum products, thereby strenghtening Dangotes monopoly even more.

Petroleum imports account for more than 60% of Nigeria's forex outflow. When we stop importing petrol, the demand for forex will drop drastically and you know what that means on the value of the Naira?... The Naira could easily jump back to N160/$. And if the naira appreciates so drastically like that, do you know what happens to Dangotes worth again?... It could instantly double. In summary, beyond 2021, Dangotes worth could easily hit $50bn.

**On the other side, I envy whoever is the president whrn all these unfold because the economy would move in massive leaps when Nigeria stops importing fuel and politicians in charge then would ascribe all the glory to themselves and their wisdom.***

1 Like

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by obailala(m): 9:41am On Jan 11
Gaspardd:
Lol to be completed this yr kwa, sth that is still at foundation stage, dis project will take atleast 3yrs to be completed the way i am seeing it
The last picture I saw of that project, it was quite at an advanced stage. The difficult works have already been completed, all thats left is just installation of different components like this one which have already been pre-fabricated at different locations of the world... It's very possible for the refunery to be completed in 12 mobths.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by obailala(m): 9:43am 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??
Petrol and other fossil fuels would still be relevant till even the next 50 years.
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Gaspardd(m): 9:57am On Jan 11
obailala:
The last picture I saw of that project, it was quite at an advanced stage. The difficult works have already been completed, all thats left is just installation of different components like this one which have already been pre-fabricated at different locations of the world... It's very possible for the refunery to be completed in 12 mobths.

Thats piling still going on at one section of d site and its like that in approx. 75% of the whole site
Pics not loading network sùcks here

Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by Firebomber: 10:10am On Jan 11
mikolo80:


You're a fool for calling me this one




How did govt or dangote stop you or anybody from planting rice or building cement plant
Did I say importation
Custom (govt can stop you)
But will they say you should not plant it in your backyard
Read and comprehend before running your mouth


did I mention importation?
Is dangote importing cement now?
Read and understand before displaying crass ignorance and stupidity

lol.. next time make sure you feed your foolish father at home before you come online and talk trash one.

hopeless fool. maybe you should check my comment that you reply before you start showing your foolishness online..
trying to educate a fool like you is just a waste of time. braindead
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by nairaman66(m): 10:12am On Jan 11
blackgold2018:
Your comment didn't make sense, petroleum products are highly demanded all around the world even a thousand years to come.
Homes, industries, schools, hospitals, churches etc use petroleum products.

I agree with you But these things will change with time! 20 years ago, do we have solar panels at home? No!! So there goes your answer...
Re: Dangote Refinery Takes Delivery Of Gigantic Distillation Component In Lekki.PICS by blackgold2018(m): 10:27am On Jan 11
nairaman66:


I agree with you But these things will change with time! 20 years ago, do we have solar panels at home? No!! So there goes your answer...
I get your point but you still don't understand me. Most of all this petroleum products alternatives still use petroleum products to manufacture them. So it will be very hard to get rid of crude oil totally.
Or do you think Dangote group experts didn't analyse how many years it's refinery products demand will last in the market before building it?
Please continue this argument if you r actually a petroleum/chemical engineer.

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