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Nairaland Forum / Nairaland / General / Politics / Dangote Wants Only Refinery License Holders To Import Fuel (28794 Views)
NNPC Grants Dangote License To Import Fuel / Subsidy: "FG Borrowing To Import Fuel" - Zainab Ahmed / PIB Would Permit Only Dangote Refinery, NNPC To Import Fuel (2) (3) (4)
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Re: Dangote Wants Only Refinery License Holders To Import Fuel by Originalsly: 4:57pm On Feb 28, 2021 |
Rugaria: Dangote is suggesting only those with active refineries be granted licences to import fuel when the demand is greater than the supply. This as a means of encouraging others to establish refineries locally. How will this be trying to monopolize fuel? ... when it will bring competition and growth in the local refinery market? .... back up your statement ... how is this trying to monopolize the industry? What is the price of his cement in Nigeria?.....and what is the price in other countries where he has plant? When we make statements we should be able to back them up. 3 Likes |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by selemempe: 4:57pm On Feb 28, 2021 |
thebosstrevor1:we have been fighting to deregulate the industry like it's done in all market economies |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Blackdisciple(m): 4:58pm On Feb 28, 2021 |
Rugaria: Hmmm...! |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by COMPAQ(m): 4:58pm On Feb 28, 2021 |
Fixey: Is his refinery not the only one we have? |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Dybala11(m): 5:00pm On Feb 28, 2021 |
Suddenly, he cares about the health of Nigerians when it suits his pocket. Baba don turn the Nigerian market to his generational own via his monopolistic agenda. |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by COMPAQ(m): 5:00pm On Feb 28, 2021 |
Originalsly: Well said. I have researched online price of cement where Dangote has cement plant. Prices are comparable to Nigeria. In some cases a bit cheaper and in some cases a bit more expensive. 1 Like |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by loswhite(m): 5:01pm On Feb 28, 2021 |
ShobayoEmma:Dangote wasn't the first to be given license to build refinery. The license was given to otedola but instead of building a refinery he decided to import fuel and made made billions from subsidies by importation...Dangote decided to do the needful and you guys are just talking nonsense. 3 Likes |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:01pm On Feb 28, 2021 |
COMPAQ: So many are undergoing construction at the same time. Few others have licenses but have not started building. |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:03pm On Feb 28, 2021 |
loswhite: He's not helping anyone. After securing licenses to build a refinery which is hectic, then fresh beuaucracries threaten full scale development although many whose sought licenses naturally bent towards importation. It doesn't mean he should swallow up the whole oil industry |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Aconomist: 5:03pm On Feb 28, 2021 |
Godarz:Dangote makes a 60% profit margin in Nigeria compared to 20% in other African country. Stop typing rubbish you dumb monkey. 1 Like 1 Share |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by COMPAQ(m): 5:03pm On Feb 28, 2021 |
See price of 40kg bag if cement for Yankee o
|
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:04pm On Feb 28, 2021 |
COMPAQ: Not generic pricing. Quality and grade applies to cement. Nigerians pay higher for cement than it is in the international market |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:05pm On Feb 28, 2021 |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Aconomist: 5:05pm On Feb 28, 2021 |
COMPAQ:Cement costs 3 times more in Nigeria compared to the U.S. as do cars, electricity, etc. You are a foolish little monkey. |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by COMPAQ(m): 5:06pm On Feb 28, 2021 |
Fixey: Only BUA is showing any serious sign of building a full scale refinery. No one else. It has not even started any construction. 1 Like |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:07pm On Feb 28, 2021 |
COMPAQ: .. Hahaha. So you think. That's what the media wants you to believe. There are other macro refineries in the pipeline and lots of modular refineries. Do your research. For mega refineries there are over 20 licenses and much more for modular refinieries |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by COMPAQ(m): 5:08pm On Feb 28, 2021 |
Aconomist: Look up. I just posted cement price from Home depot 3 posts up. Put your own evidence of cement one third the price in US. 1 Like |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Aconomist: 5:08pm On Feb 28, 2021 |
Article: Dangote is not your friend For some people, the production of cement within the shores of Nigeria is a thing of pride. They point out to a Nigerian producing for Nigerians as the highest form of patriotism. But policies should not be judged by the ‘feel good’ factor, rather they should be measured by their impact on the people. It would be recalled that the Nigerian Government in its attempt to boost local production placed a ban on importation of cement in 2001. President Obasanjo seeing that the objectives were not being met lifted the ban in 2007, only for the ban to be placed back again. Give or take, we have had 18 years to evaluate the impact of the ban. The overwhelming consensus is that Nigerians pay among the highest prices for cement in the world. A quick search on Konga shows a 50kg bag of cement costs $7, while a 2016 World Bank report (Page 61) on competition in Africa reveals that the average global cement price is around $3.4. Almost two decades after, Nigerians pay double the global prices for the price of cement. I hear you retort that it’s the tough business environment that has made things, cement inclusive. And that would be true if the profit margin is not exorbitant. In 2017, a Bloomberg Intelligence report showed that the average global profit margin for cement companies was 17%. For Dangote Group, the profit margin was 42%. That’s more than twice. I just checked the result for 2018 and the profit margin has shot up to 64% . If conditions are difficult, then the profit margin should shrink, not explode. It goes without saying that it’s Nigerians who are paying through their nose when they could easily get the product for much lesser. This World Bank report, on Page 64, shows that Dangote has been granted exclusivity to materials, including limestone used to produce cement. Nigerians don’t understand that when they mention cement production in the country as a pointer to why banning things is good, they are indirectly encouraging a system of exploitation. Every single time a Nigerian business man tells you Nigeria should ban importation of something without calling out the problems which necessitates importation of that product in the first place, know that they are thinking of enriching themselves at your expense. https://thowsyne.medium.com/dangote-is-not-your-friend-b0b9303ae662 2 Likes |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by COMPAQ(m): 5:09pm On Feb 28, 2021 |
Fixey: Guy na licence we want chop? Haven't we always given license? Did any get built? Really!!! Modular is good, but can't solve our demand anytime soon. Dangotw can refine 600k barrels. Walter Smith is refining 5k barrels. 1 Like |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Blackdisciple(m): 5:10pm On Feb 28, 2021 |
So that he can manipulate the oil sector too. Government were supsed to empower those local refineries in Niger Delta, that same local refineries the government tagged illegal refineries . Only Dangote can't do the refining job alone expect if they just want to suffer the masses by channeling the separation techniques to Dangote refinery . Talking of refinery license, Dangote knows that what he is saying will favour him , tho I don't know if there's another body refinering oil in Nigeria. |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by COMPAQ(m): 5:11pm On Feb 28, 2021 |
Fixey: So you think Yankee has lower standards Nigeria? Not likely. |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:12pm On Feb 28, 2021 |
COMPAQ: Dude, Dangote started from license just like the others. Your comment says alot about your awareness. Do your digging. Other refineries are in the pipelines. There's a Yoruba billionaire too in the mix with around 450,009 barrels a day capacity, BUA with 250,000 barrels a day and much more . If you don't throw your nets wide, stop commenting like you know much |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:12pm On Feb 28, 2021 |
COMPAQ: Then why quote pricing for cements without putting it against the grade of the cement Dude, do your research well. Nigeria overlays for cement |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by loswhite(m): 5:13pm On Feb 28, 2021 |
Fixey:Why do they bend towards importation? How did the importation benefits you as a Nigerian? Nigerian citizens deserve the leaders they get....smh 2 Likes |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Dharmiejoe(m): 5:16pm On Feb 28, 2021 |
This is a good proposal that can increase production of local refinery. The con to this is that there is no major step by local stakeholders to build refineries that can cushion the effect of underproduction should dangote be experiencing a downtime. Hence dangote still remains a monopoly. The resultant effect is that independent oil marketers will be excluded from importation and shortage of refined product at high cost. |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:16pm On Feb 28, 2021 |
loswhite: Stop saying things you don't know dude There are so many reasons. One of which is their greed get quick dollars and then import, it's not so with all at the same time. Use your brain. |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by COMPAQ(m): 5:16pm On Feb 28, 2021 |
Aconomist: Not sure where you $3 cement comes from o! Also note that 80lb is about 36kg 2 Likes
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Re: Dangote Wants Only Refinery License Holders To Import Fuel by Fixey: 5:17pm On Feb 28, 2021 |
Dharmiejoe: In that case the NNPC should reserve the right to solely import during emergencies |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by samwillyco1(m): 5:17pm On Feb 28, 2021 |
This Man is too Greedy and Corrupt but some people don't know |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by BlackFlamefromP: 5:18pm On Feb 28, 2021 |
No. The guy is not contradicting himself. You see, ability to look at things from different angles is one of the qualities of a truly intelligent person. The point he was trying to make there is that even though it is bad economics to restrict importation of fuel to those who have license to operate refineries, Dangote is not the only one who will benefit from such policy as there are other people who owns such license too. He was looking at it from different perspective. I personally don't support that Dangote's suggestion, but then, I can see that he has a point. Imagine spending all that billions of dollars to build a refinery only for some unscrupulous elements to flood Nigerian market with substandard fuel that sells at a price that is far lower than what Dangote can afford to sell and make profit. His refinery would just fold up and billions used in building it gone! Government just have to find a way of regulating the market to encourage those who operate refineries without creating room for monopoly. Rugaria: 4 Likes |
Re: Dangote Wants Only Refinery License Holders To Import Fuel by snitch37(f): 5:19pm On Feb 28, 2021 |
Godarz:Oga shut-up...to comment no be by force.Don't display ur ignorance in public all in the name of 'I must comment'. |
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