deji17:
Buhari Govt provided the enabling environment and policy that is driving the growth.

Sai Buhari

Sai Baba!!

The enabling environment has always been there, Dangote started actual construction as far back as 2013. You think say na today e start?

Esseite:
The moment the refinery kicks off, subsidy should be removed, although a more transparent subsidy system would be in place if still carried on. Dangote would sure race a lot of oil and gas companies out of business.

Good one Dangote, but if oil and gas coys are seeing the future and the steps dangote is taking, why are they not trying to give him competition on a refinery level?

They are other refineries coming up but it's not in the scale at which Dangote is. Here in Imo State, Waltersmith have actually begun constructing their mini refinery so too is NDEP in river state doing a similar turnkey refinery in. Eko petrochemical is doing something similar somewhere in Lagos,

chloride6:


Wailing this early in the day?

If the NNPC will also buy from the same international markets that you say Dangote will sell to, then what are you saying?

Prices are fixed internationally...

The net effect is that the FX remains in our economy...

.....and Freight cost in dollars is removed. Costs associated with Port, loading and offloading are eliminated.

Kudos to Dangote group of company, you are a good role model to young Nigerians, I pray I would massively contribute to economy growth of this nation in the soonest future, even more than Dangote!

Esseite:
The moment the refinery kicks off, subsidy should be removed, although a more transparent subsidy system would be in place if still carried on. Dangote would sure race a lot of oil and gas companies out of business.

Good one Dangote, but if oil and gas coys are seeing the future and the steps dangote is taking, why are they not trying to give him competition on a refinery level?

oil n gas coys as u call them , they can't play in the bigger league cos in in the bigger league heavy financial tool/investment is needed to make your vision come through, and by God's grace if he completes his refinery I am sure in many years to come there would be no competition, the best they could do is owning oil wells, having oil depot and filling station finish, when Dangote enters he would be the only bigger boy in the game for donkey years, along side share holders

deji17:
Buhari Govt provided the enabling environment and policy that is driving the growth.

Sai Buhari

Sai Baba!!

My friend please sit down. So the project was envisioned, funding acquired, land bought, bidding, designed and fabricated starting in 2015 bah?

If anything Buhari made things nearly impossible when the Naira devalued by 1/2 under his watch (meaning Dangote had to pay double in Naira for materials), and it was hard to get anything done.

Tomorrow 10th April is his birthday. Happy birthday in advance to a great man more business ideas.

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

Dangote Lagos Refinery

kayroc:
I am sure Dangote will simply export all the refined product from that refinery. For as long as there is subsidy he will not he able to sell for the maximum price in Nigeria so he will simply export the product and maximize returns.

Isn't fuel subsidy the difference between the fixed price and the maximum price ?