Amaechi2023:
for goodness sake, why does the media have to make everything come from s tribal perspective?
I mean for what sake?
the bill clearly approved for those with active refinery license and if dangote is the only one with those license, why on earth is the media trying so hard to fuel ethnic tension to illiterates?
many of us knows that several other Nigerians have stakes and investment in dangote refinery and it is the goal of every business to monopolize its product and deal with competitors.
if dangote is doing that, why the fowl cry?
innosson is forcing its cars down the troath of the govt despites its heavy price but yet Buhari led govt still compress itself to help innoson.
anyone that takes the affairs of big men into tribal war must be a fool and has achieved the hidden goal of this post.

last time it was one rubbish rumour that dangote sells cement at Mozambique or so for 1,300 but a quick check shows Nigeria has one of the cheapest cement price in Africa..
people were raining insults on dangote but refused to ask themselves why ibeto cement and others weren't cheaper.
rubbish entity..

With people like u, I think anything good will come out of this country, they should sell the country to dangote nonsense

Dangote refinary will still be importing fuel

dchamp234:
Dangote refinary will still be importing fuel

Yes! You heard it right.

Nigeria is a very good cone3

That's the only thing they know how to do. Monopolizing everything for themselves forgetting that one day they will leave everything here when they depart only to be buried in a single white cloth. They have no oil but they always seek to derive maximum benefit from it. But the spell will soon be broken.

MakotoShishio:


https://saharareporters.com/2021/07/12/revealed-petroleum-industry-bill-would-permit-only-dangote-refinery-nnpc-import-fuel-if

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omohayek:

The whole thing is a disgusting exercise in corruption. Unfortunately, most Nairalanders (and probably most Nigerians) fail to see this for the robbery of the entire Nigerian masses that it is, and prefer to frame it in simplistic, nonsensical "North vs South" terms. Seeing as northerners already have lower incomes on average than their southern counterparts, they actually stand to suffer more from this new scheme to enrich Dangote and his paid-for-politicians, but they won't stand a chance of seeing it that way given the "evil northerners" cast the issue has now been given - thus virtually guaranteeing the survival of yet another economically ruinous piece of mislegislation.

It is a truly a "disgusting exercise in corruption. I was imagining the millions of dollars he would have parceled out to secure the "Dangote Bill"when I wrote earlier.

Sadly, the Bill might be given ascent by the president who will be thoroughly hoodwinked by promises of "backward integration" and "self sufficiency". He won't see it as a greedy grasp for monopoly.

For the Nigerian refining to become truly huge, it has to be export orientated. Dangote focus seems to be opposite which is the domestic market and would therefore frustrate any new entrant. This will frustrate expansion of domestic production,and hence, the oil industry.

Just to think of it, as the sole importer of petroleum products, this will insulate his refinery from the volatility of the international market. If there's an excess of refining capacity in diesel production, he need not rush to lower prices as he has absolutely no competition to speak. The lack of the likes of Otedola to take advantage of market signals and import diesel to undermine him will enable him keep prices unresponsive to international prices. He's done this successfully in cement already.

This will make his refinery one of the most profitable in the world due to risk free profits.

It's a shame Dangote is getting his way. Tiny Singapore, with almost no land refines about 1.3m barrels of crude oil daily. Of course, the vast majority will be for export. Nigeria, with about 30 times its population will be beholden to a man who barely produces half that country's production.

When YarA'dua assumed office, he reportedly snubbed Dangote and Otedola, probably seeing them as sharks. The same needs to be repeated but with the the Central Bank governor deeply in love with Dangote, favoring him with scarce dollars at preferential prices, one can clearly see where the president stands.

The Bill I am over 90% certain will pass.

Amaechi2023:
for goodness sake, why does the media have to make everything come from s tribal perspective?
I mean for what sake?
the bill clearly approved for those with active refinery license and if dangote is the only one with those license, why on earth is the media trying so hard to fuel ethnic tension to illiterates?
many of us knows that several other Nigerians have stakes and investment in dangote refinery and it is the goal of every business to monopolize its product and deal with competitors.
if dangote is doing that, why the fowl cry?
innosson is forcing its cars down the troath of the govt despites its heavy price but yet Buhari led govt still compress itself to help innoson.
anyone that takes the affairs of big men into tribal war must be a fool and has achieved the hidden goal of this post.

last time it was one rubbish rumour that dangote sells cement at Mozambique or so for 1,300 but a quick check shows Nigeria has one of the cheapest cement price in Africa..
people were raining insults on dangote but refused to ask themselves why ibeto cement and others weren't cheaper.
rubbish entity..

Do you blame them? Or you just want to pretend that everything is okay? Can we pretend the despot in Aso Rock is not protecting killer herdsmen, just because he has not pronounced it publicly? Is it a coincidence that only Dangote has a refinery license and the government had to include “those who have refinery license”? Let’s not kid ourselves, this government has lost every form of integrity or benefit of doubt that should be accorded any government.

UnabashedIPOB:
By the time the bill becomes law, the Dangote refinery, which has a 650,000-barrel per day refining capacity, would be in operation, making him the only license holder that would be able to import any substantial amount of petrol

And some of you IDIOTS from the South are clamoring for ONE NIGERIA and at the same time would tell us how rich Dangote is.

We should kill him because he's a Northerner.

Kpobaridaniel:
Why will they have to Import Fuel? Are they not suppose to be refining Fuel?
Imagine building a refinery and using the license to secure monopoly of fuel importation!


Well now we know the real reason for the hurriedly built refinery!

Somebody needs to answer these questions.

By the time the bill becomes law, the Dangote refinery, which has a 650,000-barrel per day refining capacity, would be in operation, making him the only license holder that would be able to import any substantial amount of petrol.

So, Dangote is refining 650,000 bp/day, more than our local needs and still tons left to export for foreign exchange, so exactly where is the need to import petrol? For what purpose?

SR is still smoking crack.

Obviously, this kind of rubbish is strictly for their ignorant ipobian followers..


Btw, even if there's any need to import fuel, Dangote and any other active refineries should be allowed to import petrol because when they gave out the refinery license to the incense holders, they promised to build refineries, but they did not build any refinery, their one and only intention was to import fuel for fuel subsidy scam.

If you don't have refinery capacity, you should not be in possession of any refinery license or allowed to import fuel.

The FG need to take away their refinery incense and made to refund the taxpayers.

Compsre dangote 'srefinery capacity and compare it with Nigeria's daily consumption and you will have your answerWhy will they have to Import Fuel? Are they not suppose to be refining Fuel?
Imagine building a refinery and using the license to secure monopoly of fuel importation!


Well now we know the real reason for the hurriedly built refinery! [/quote]

Compsre dangote 'srefinery capacity and compare it with Nigeria's daily consumption and you will have your answer

Kpobaridaniel:
Why will they have to Import Fuel? Are they not suppose to be refining Fuel?
Imagine building a refinery and using the license to secure monopoly of fuel importation!


Well now we know the real reason for the hurriedly built refinery!

The country don't have real anti competition law. This encourages wicked horizontal arrangement between the state and the most powerful undertakings. Cartel is in the making. Sad, as with everything Nigeria.

Sowore... Sowore... Sowore... how many times did I call you?

Why do you love dishing out sensational, twisted half-truths and sometimes blatant falsehood?

You can deceive people sometimes but but certainly not forever. Enjoy it while it lasts.

Meanwhile, more than half the people commenting on this thread never took time to read the article and most are young people.

Tufiakwa!!

musicwriter:


After considering so many things about Nigeria recently, I realized that Niger Deltans (I don't want to call them the dumbest ethnic group in Nigeria because I don't curse) are willing to be used, re-used, dumped and to be re-used whenever necessary. And their elites are the dumbest set of people under the sun.

I am Igbo but their situation in Nigeria pains me even more than the marginalization talked about by our people.

In case you know anybody from Ogoni land, please tell them that they're not thinking at all. Tell them that their best bet to enjoying the wealth under their feet is not by militancy or shutting down Shell installationn. Their best bet to profit from the crude oil in their land on long term is to own modular refineries all over their land, in fact, since they can't afford Dangote-size refinery, they should build refineries all over states in Nigeria and completely be in charge of how much petrol is sold in West Africa not just Nigeria. This's what Northerners would've done for their people if the crude oil was situated in Northern Nigeria. Go ahead and convert every so called illegal refinery in the creek to official modular refinery. Let state legislatures in the Niger Delta unanimously sign it into law. The oil is yours and you can do anything you want with it right now in current Nigeria.

They can certainly use instrument of state to do this even in current Nigeria. Whatever it would take them to dominate modular refinery business in Nigeria, even if it means going to war against Nigeria, they should do it because that's the only way they'll reap from the oil in their land not by taking huge bribes from the corrupt Nigerian system.

How on earth are they not the ones owning refineries in all states in Nigeria since 1960? They should be the ones building refineries!!. How stupid could a people be!!. They have no excuse whatsoever not to be the wealthiest part of Nigeria.

Niger Delta folks are something else .....

omohayek:

There's nothing particularly "smart" about always getting the best possible terms from an interventionist government, often at the expense of would-be competitors, and almost always in the form of government subsidies, both hidden and direct. The real issue is the foolishness of all those who defend this paradigm of limitless greed even though they aren't even being paid to do so.

When a person repeatedly wins a price which everyone covets, I'm sorry it's not by chance; there's definitely something hes doing better than others... In every competition in life, all participant wants to win, but not everyone can. It's unfortunate if you cant see the role of 'smartness' in those who somehow win against the odds, irrespective of who the umpire is.

Those incentives offered by the govt are usually open to all. Since the days of OBJ, the Nigerian govt has been begging investors with juicy incentives to come build refineries, but everyone's been shying away from it, preferring to just import and make quick safe profits. With Dangote diving in and now about to enjoy the juicy benefits, you're hating on him and saying he isnt smart? Was he the one who stopped others (including successive administrations) from building refineries?

It's a pity you actually think I'm foolish (or defending a monopoly) for stating an obvious fact; the joke is on you bro.

Commentor:


We should kill him because he's a Northerner.

What a dumb statement!

jabolo:


This bill has been in development since 2000-wetin? Investments have been held up while it's been published in various fora and your elected representatives over several senate sessions have been involved in debating it.

Then it was finally passed. The international investment community breathes a sigh of relief.

Why the mischevious 'monday morning quarter-backing'? Often selectively put out there to inflame ethnic tensions? There are indeed mischevious forces at play in our nation and you have a responsibility not to dash them your brain.

==

The issue discussed by the OP relates to product shortfall. That means demand that exceeds local production for whatever reason especially in the short term. If that reason is as a result of local refinery downtime or malfunction, the license holders should have an opportunity to import fuel to cover their foregone production. I'm thinking the players in the industry inclusing Dangote, Walter Smith and other potential modular refiners, not necessarily useless NNPC.

It is unclear even if this is going to be profitable because, remember, they have invested in their own refineries and have to service the debts so idle capacity is never to their overall benefit.

Currently, our fuel importers are made up of 'rent-seekers' - corrupt parasites with little or no investment in domestic production capacity and no interest in that direction. If this bill incentivizes them to set up refineries to stay in business, it's a win for the country.

Thank you for this explanations to them.

The OP and most of the posters on Nairaland place tribalism above economic all considerations.

4four:
1st did u read the whole article? If yes can u point to the part he mentioned TRIBE?
2ndly if u truly read the whole article with open mind u Will get the logic or sense op was trying to point out, in summary he was saying may be in the future all this so call license holders with working refinaries may decide to abandon their refinaries 2moro if the cost of production is too high in the country and be importing from other countries with much lower cost of production but if u know that other will join the party if u abandon ur refinaries then they will seat tight,
The same thing was implemented in Suger refinaries some of them have abandon their plant and importing brown sugar to refine.
LASTLY MONOPOLY WILL NOT IMPROVED ANY DIEING ECONOMY, IT WILL ONLY ENCOURAGE EXPLOITATION OF THE ECONOMY

You are contradicting yourself;

1) The OP wrongly insinuated that only Dangote and NNPC will be importing fuel but you are talking of those who have Refineries.


2) Operators of Refineries (note the plural) is NOT the same thing as Dangote.

xpressionx:




Do you think there are no persons interested in the licence?
Why must it be only dangote?

1) Numerous companies got license to build Refineries

2) Apart from Dangote ,there are other Refineries in different stages of completion, sizes and operations e.g Orient Refinery in Anambra State, Walter Smith Refinery in Imo State and Edo Refinery in Edo State.

obailala:
When a person repeatedly wins a price which everyone covets, I'm sorry it's not by chance; there's definitely something hes doing better than others... In every competition in life, all participant wants to win, but not everyone can. It's unfortunate if you cant see the role of 'smartness' in those who somehow win against the odds, irrespective of who the umpire is.

This argument makes absolutely no sense. The only thing Dangote has done "better than others" is bribe and pressure Nigerian leaders from Obasanjo onwards, to ensure no new market entrants can threaten his monopolies, and instead of attempting to refute the facts (which are indisputable), or giving an economic justification, you point to his "smartness" in rigging the market as some sort of indicator of virtue!

Those incentives offered by the govt are usually open to all.

This is a blatant falsehood, as profusely documented by too many domestic and foreign observers over the decades.

Since the days of OBJ, the Nigerian govt has been begging investors with juicy incentives to come build refineries, but everyone's been shying away from it, preferring to just import and make quick safe profits. With Dangote diving in and now about to enjoy the juicy benefits, you're hating on him and saying he isnt smart? Was he the one who stopped others (including successive administrations) from building refineries?

You claim that the Nigerian govt has been begging investors with "juicy incentives", but fail to mention any of these incentives that are supposedly so "juicy" they would outweigh the fact that the Nigerian government has never allowed petrol prices to be set by the free market. Please provide the list of "juicy" incentives that would get anyone to invest billions of USD in refining products that would then have to be sold below cost. Economic insanity is no "incentive" to anyone who isn't being heavily subsidised at taxpayers expense.

It's a pity you actually think I'm foolish (or defending a monopoly) for stating an obvious fact; the joke is on you bro.

No, it's on you for assuming everyone else is an economic illiterate who can be bamboozled with empty "haters gonna hate" rhetoric in the place of facts and economic reasoning, neither of which you have any to share.

omohayek:

This argument makes absolutely no sense. The only thing Dangote has done "better than others" is bribe and pressure Nigerian leaders from Obasanjo onwards, to ensure no new market entrants can threaten his monopolies, and instead of attempting to refute the facts (which are indisputable), or giving an economic justification, you point to his "smartness" in rigging the market as some sort of indicator of virtue!


This is a blatant falsehood, as profusely documented by too many domestic and foreign observers over the decades.


You claim that the Nigerian govt has been begging investors with "juicy incentives", but fail to mention any of these incentives that are supposedly so "juicy" they would outweigh the fact that the Nigerian government has never allowed petrol prices to be set by the free market. Please provide the list of "juicy" incentives that would get anyone to invest billions of USD in refining products that would then have to be sold below cost. Economic insanity is no "incentive" to anyone who isn't being heavily subsidised at taxpayers expense.


No, it's on you for assuming everyone else is an economic illiterate who can be bamboozled with empty "haters gonna hate" rhetoric in the place of facts and economic reasoning, neither of which you have any to share.

At least you agree there's something he does better than the others; whether it's lobbying the govt or outright bribing. Other participants in the game (his competition) also do exactly the same unethical things he does (i.e. bribe, lobby, manipulate etc.), but somehow he always beats them to it. When I said there's something he does better than the others, I never said the acts were ethical, and neither was I defending his brutal monopoly (if that's what's getting you worked up). I was only acknowledging his undeniable genius in pulling off these heists ahead of his equally unethical competitors.