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Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? - Business (6) - Nairaland

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Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by mafluxfire: 9:09am On Jul 17
Mr writer, you are nothing but a pessimist. Sit down and watch as things unfold. I pray God give us Long life and good health to witness and enjoy the benefits of the project.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by CodeTemplar: 9:46am On Jul 17
I suspect this is an attempt to deflect the bad publicity Dangote has been getting lately.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by skj1377(m): 10:01am On Jul 17
My point is simple. express your opinion without calling contrary opinions names. You an I have valid opinions as the saying goes a glass can be half empty or half full or better said "m" looks like w depending on the side your looking at it from. Dangote cement has not made cement cheaper in Nigeria rather more expensive hence his abnormal profits due to his monopoly of the product. How many additional jobs has he provided against the cement companies his monopoly has closed down. In case you Dont know cement in China is equivalent of N350 for 50kg.Dangote is selling same thing N2700. He has made so much money from poor Nigerian and has started buying cement companies allover Africa. He has made several times the cost of building his cement plant several times over . Dangote refinery will go same way but is like the prayers of Nigerians he has been cheating has caught up with him, he wants to inflict similar business profiteering on per litre of petrol sold in Nigeria but God will not allow him. Like the saying goes everyday for the thief but one day for the owner. Yahoo boys and Dangote are one and the same thing just that Dangote goes a step further by making people jobless, broke, indebted, homeless and hungry. Even yahoo boys are learners compared to Dangote . I have been telling people judgment is at hand and God has started paying people back in their own coin. How I wish an Ibeto family member becomes president of Nigeria then you will see how Africa's richest man will fade into oblivion. Anyways enjoy your weekend.
deenee:



I won't even bother to respond to you. I will just drop a few pointers for you to have an introspective reflection on

Go and read to understand how Foreign Direct Investments work.
Secondly, no Bank has called in any loan otherwise his name would be on the list of defaulters periodically published by banks as stipulated by CBN.

Dangote is not the reason you are unemployed and building a 650k bpd capacity refinery is not beans. There are bound to be delays even beyond his own control.

Even the OEMs delayed from their end too.

Don't let bad belle and envy destroy you. The refinery will soon start operations and there is absolutely nothing y'all can do about it!

1 Like

Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by onatisi(m): 10:22am On Jul 17
someone told me about 2 years ago that dangote was making a great mistake with his project and that he will later regret it
, i didn't believe it . na wa oo
deeptechcool:
No surprise

1 Like

Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by smartNerd: 10:24am On Jul 17
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by skj1377(m): 10:24am On Jul 17
I Dont have bad belle for Dangote but when you see the people Dangote has ruined, Including people from his tribe you will not have pity on him. Let me tell you if you have only 1 house you may have built 2 or 3 houses if only Dangote did not monopolise cement. only Dangote can import cement, flour, sugar and in the past tomatoes and rice in a country of 200million people. Guess what, their prices keep increasing and once competing manufacturers try to reduce their prices he gets his government agents to shut down such businesses. Either by one obnoxious gov policy or stupid regulatory enforcement . The evil he has done to the masses will not let it be well with him. The way his trucks kill people daily on Nigerian roads with no consequences to his company is one story for another day. When God said whatever you sow ye shall your reap he was not joking. Dangote take what's coming your way you caused it for yourself. Funny enough all the naira he makes does not amount to much mind you Dangote buys $ at 210 and that I think is part of the forex scarcity affecting all manufacturers in Nigeria including you and I. Brent crude is now $75 how come still no forex despite N504 per $. When the Hausa government leaves and hopefully Ibo or any other tribe enters they may look into the foreign exchange dealings of Dangote and re-adjust it thereby becoming majority share holder while Dangote will be owing the Nigerian gov money. Dangote bubble will burst soonest. Africa's richest man my shit-hole!

2 Likes

Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by gbemishile: 10:40am On Jul 17
Look at ow somebody somewhere deyquote figures anyhow as if hefolloweddangote took kstart the project,orwent with him to bank toseek for loans.oga gan sha
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by smartNerd: 10:52am On Jul 17
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by ositadima1(m): 11:00am On Jul 17
skj1377:
I Dont have bad belle for Dangote but when you see the people Dangote has ruined, Including people from his tribe you will not have pity on him. Let me tell you if you have only 1 house you may have built 2 or 3 houses if only Dangote did not monopolise cement. only Dangote can import cement, flour, sugar and in the past tomatoes and rice in a country of 200million people. Guess what, their prices keep increasing and once competing manufacturers try to reduce their prices he gets his government agents to shut down such businesses. Either by one obnoxious gov policy or stupid regulatory enforcement . The evil he has done to the masses will not let it be well with him. The way his trucks kill people daily on Nigerian roads with no consequences to his company is one story for another day. When God said whatever you sow ye shall your reap he was not joking. Dangote take what's coming your way you caused it for yourself. Funny enough all the naira he makes does not amount to much mind you Dangote buys $ at 210 and that I think is part of the forex scarcity affecting all manufacturers in Nigeria including you and I. Brent crude is now $75 how come still no forex despite N504 per $. When the Hausa government leaves and hopefully Ibo or any other tribe enters they may look into the foreign exchange dealings of Dangote and re-adjust it thereby becoming majority share holder while Dangote will be owing the Nigerian gov money. Dangote bubble will burst soonest. Africa's richest man my shit-hole!

It would be nicer if you backup ur claims with verifiable evidence, I would like to see links to news records.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by Timmi: 11:12am On Jul 17
jerrybone:

https://investorsreel.com/dangote-refinery-bailing-out-the-unbailable-funding-or-bailout/

Coming from one David Bako, - a self styled seasoned economist exposes this man's ignorance on two levels: (1) The refinery is slated to go into operation early next year and not 2023/2024 as he stated. (2) This is a private venture with nothing contributed from the government. The NNPC buy out of 20% is not required by Dangote nor wanted by him but rather imposed on him by the government.

The PIB bill was not to favor Dangote, but to favor all local refineries and Dangote is not the only local refinery. Please always check your facts and divulge personal sentiment from professional opinion. Respect is earned and not given and with this your missive, you have lost any form of professional respect as a so-called seasoned economist.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by Timmi: 11:17am On Jul 17
skj1377:
I Dont have bad belle for Dangote but when you see the people Dangote has ruined, Including people from his tribe you will not have pity on him. Let me tell you if you have only 1 house you may have built 2 or 3 houses if only Dangote did not monopolise cement. only Dangote can import cement, flour, sugar and in the past tomatoes and rice in a country of 200million people. Guess what, their prices keep increasing and once competing manufacturers try to reduce their prices he gets his government agents to shut down such businesses. Either by one obnoxious gov policy or stupid regulatory enforcement . The evil he has done to the masses will not let it be well with him. The way his trucks kill people daily on Nigerian roads with no consequences to his company is one story for another day. When God said whatever you sow ye shall your reap he was not joking. Dangote take what's coming your way you caused it for yourself. Funny enough all the naira he makes does not amount to much mind you Dangote buys $ at 210 and that I think is part of the forex scarcity affecting all manufacturers in Nigeria including you and I. Brent crude is now $75 how come still no forex despite N504 per $. When the Hausa government leaves and hopefully Ibo or any other tribe enters they may look into the foreign exchange dealings of Dangote and re-adjust it thereby becoming majority share holder while Dangote will be owing the Nigerian gov money. Dangote bubble will burst soonest. Africa's richest man my shit-hole!

Mr. skj, a simple google search would have showed that Dangote cements is not the only one in Nigeria, you have BUA and Lafarge just to mention a few big ones that are in competition with Dangote. But rather, in your narrow mind, you exclude those because of the beef you have with Dangote. I respected the man because he is one of few Nigerians that believe in Nigeria and invest in Nigeria despite Nigerian numerous problems. He didn't take his money and invest in the abroad.

Every other things you mentioned are conjectures and innuendoes that holds to validity.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by AbuAeesha: 1:24pm On Jul 17
Goldenboy224:
cool If Nigeria breaks (Biafra, Oduduwa, Ijaw and Arewa). You will truly know that dangote is just a political tool.

and that is why they will never let it break
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by AbuAeesha: 1:25pm On Jul 17
Risingblue008:
Characteristics of zoo republic grin grin grin
wch part of the zoo do you resides??
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by skj1377(m): 1:30pm On Jul 17
My dear I Dont have time to argue with you both bua and lafarge are complaining about Dangote few years ago Dangote was pushing a regulation for cement to be of 95% purity before it can be sold in Nigeria then he called it 3xx. At that time he had just completed a high purity processing plant in his Obajana plant. Had that regulation been approved by the government Dangote would have temporarily or permanently edged out all his competitors. You may not know this because your probably not science inclined. Secondly, his trade practices, include suppression of railway networks development in Nigeria just so that he can capitalise on his vast network of distribution trucks to edge out his competitors . transportation cost is a significant cost component of finished products if you Dont have a vast network of trailers registered under you and you have to rent then your finished products will be marginally higher than your competitor who has the network over time you can drive up cost because you can sell low at areas you have competition and make up for it from areas with minimal competition. Railway lines would have levelled the playing field. All manufacturers can make use of it to transport their finished products to all parts of the country and compete with his products there thereby driving costs down. Unfortunately, his trucks have caused a higher than normal death toll and have degraded newly constructed roads. No matter the barrier you put on a new road to ward of his trucks he has the connection to remove your barrier and in a few months time the road is riddled with potholes. You may say the roads are not well constructed but remember not all roads are heavy duty besides how much tax does he pay Nothing or next to nothing... I Dont have time to be explaining but if your a real life manufacturer like me you should understand what a monopoly in a lawless country like nigeria can do to your business .why do you think he is always eager to enter the market with a monopoly policy from inception?? The reason is to control price. Unfortunately, his approved prices are a huge burden to the masses and very unpatriotic or how else can you explain why Dangote cement is cheaper in Benin republic and Cameroon. Dont worry there is hope, once nigeria is restructured I wonder how he will try this his rubbish in Yoruba land where like minded people like me are in business for the same money he is looking for.
Timmi:


Mr. skj, a simple google search would have showed that Dangote cements is not the only one in Nigeria, you have BUA and Lafarge just to mention a few big ones that are in competition with Dangote. But rather, in your narrow mind, you exclude those because of the beef you have with Dangote. I respected the man because he is one of few Nigerians that believe in Nigeria and invest in Nigeria despite Nigerian numerous problems. He didn't take his money and invest in the abroad.

Every other things you mentioned are conjectures and innuendoes that holds to validity.

2 Likes

Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by skj1377(m): 2:09pm On Jul 17
I laugh in Spanish. Google can't help but if you understand simple math divide the gross profit of Dangote cement by the total cement produced and sold within the period. That is your margin but I hope you know that every company has 3 books . The book for the owner "Dangote" the book for the government and shareholders "general public" and the real book " true value of the company." Mr google search, which of these three books do you think you will see on Google search engine.you need to be a real world manufacturer to understand somethings because they are not even known by the professors that impacted knowledge into you in the first place. Let me give you a simple example I will use myself. I need to get a permit from a regulator and they insist I state my product volume for the period in question. My product volume has to align with my audited reports as well as declared profit as reflected in my tax clearance for the period to avoid a query from regulators. Mind you declared profits have been negatively adjusted so during manufacturing we have two log books one for gov and the real one because I don't have shareholders. So apart from products that are manufactured but Dont reflect in any company account the ones that reflect are still divided into two. Remember all have to be synchronised because the government regulators especially the southerners among them are not foolish so you have to be smart and tidy. Palms are greased as everybody goes home happy and I get to produce another day but among these three reports the one that will get to google if someone does a search will be the adjusted government copy which unfortunately is a far cry from the truth. So if Dangote published in the newspapers that in the year ended 2020 he sold only 200Mt of cement and made a profit of N300billion using myself as an example because nobody holypass you yourself imagine how much he really made from the Nigerian masses and do you still think I will see the truth in Google search
Timmi:


Mr. skj, a simple google search would have showed that Dangote cements is not the only one in Nigeria, you have BUA and Lafarge just to mention a few big ones that are in competition with Dangote. But rather, in your narrow mind, you exclude those because of the beef you have with Dangote. I respected the man because he is one of few Nigerians that believe in Nigeria and invest in Nigeria despite Nigerian numerous problems. He didn't take his money and invest in the abroad.

Every other things you mentioned are conjectures and innuendoes that holds to validity.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by skj1377(m): 2:18pm On Jul 17
Oga explain to me how you start a company that has always existed in nigeria and the price of their finished products increased 100% under your watch and 6 months after you started manufacturing operations you publish scandalous profits equivalent to the cost of construction of the plant itself. In economics there is a name for that kind of profit can someone help me with the name? That is the kind of profit Dangote makes from any of his monopolies that is why he wants to extend it to oil industry. How many thousand jobs did he create last year he sacked more than 40% only called a few back despite declaring profit in Billions last year.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by History555: 2:49pm On Jul 17
9jaRealist:



The Dangote refinery is NOT looking for outside investment…
Although a number of global oil traders (such Vitol and Trafigura) has reportedly approached it to secure supplies.

In fact, the NNPC itself has stated that DANGOTE DOES NOT WANT TO SELL ANY EQUITY…
See this recent news report: https://punchng.com/refinery-dangote-not-happy-with-nnpc-proposed-stake-acquisition-says-kyari/

Furthermore, neither it nor the group is “over leveraged”…
This project is going to be a veritable cash cow and is already exporting urea fertilizers to the US and Brazil.
>

So u believe that dangote is exporting fertiliser to us and brazil. Two of the largest fertiliser producing nations. Is dangote fertiliser bigger than indorama from Indonesia

1 Like

Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by History555: 2:54pm On Jul 17
SIRTee15:


I think this is the major issue. Refinery business is not really a profitable venture that guarantees quick return on investment. Its a very low profit margin business.
It's going to be hard to attract foreign investors that won't demand two arms n two legs especially in a volatile region like nigeria. Dangote may end up becoming a minority stakeholder.
However, the refinery is too big to fail. A lot is at stake here. FG will have to find a way to ensure its completion...if it means taking over.

I doubt local investors can be of any help. Or is it not nigerian bank collecting 700 million dollars every year over a 7.5 billion loan. Na wa o.
Maybe Cubana and his boys can come to his rescue. undecided



Thank u. Only those with without knowledge thinks refineries are high profit. There are 62 refineries world wide operating below capacity. When people say dangote will export to Europe and America, i laugh. Most of the under utilised refineries are in both continents. Dangote best bet is the nigerian and African market. because even the African market he will battle it out with refineries from Europe, asia and America.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by History555: 3:00pm On Jul 17
deenee:


Clearly who ever paid you for this watery write up didn't pay you well enough or must have over estimated your ability to do this hatchet job right.

First and foremost, no bank has called in Dangote's loans and infact they are falling over themselves to extend loans to him.

Secondly by law NNPC will have an equity stake in any refinery project that capacity to refine more than 200k barrels per day. This is the law that has been sacrosanct and in effect even before Dangote got his license to build a refinery so all the gist about NNPC bailing him out is bullocks!

Thirdly, the completion day for the Refinery was shifted about three times for the underlisted reasons

First was when he decided to increase the proposed capacity from 450k to 650k per day hence they had to recalibrate the entire project schedule neccesitating the néed to shift.

Second was due to community clashes at project site and work stopped for over 4 months at this time

Thirdly due to the covid 19 induced pandemic

Now back to the loans and financing for the refinery, there is 30% equity contribution from Dangote himself, 60% foreign loans and 10% local debt from a syndication of banks.

Even the foreign loans have been brought in tranches as foreign direct investment forming part of the foreign reserves hence, the reason why he has a fixed repo contract with the CBN. And he is not the only one that has. All institutional investors both local and foreign have one kind of Fixed USD contract arrangement with the CBN. Even Innoson Motors has same so I wonder why the search light is on Dangote alone?

Let me also burst your bubble, Dangcem market cap is around 3 trillion naira making it one of the most capitalised stocks on the NGX and Dangote owns about 90% of DangCem directly and even doing share buy back to increase his stake.

So if he runs into any trouble all he needs to do is sell a few Dang Cem shares and move on. The same company is poised to do a trillion naira in turnover this year.

Finally the bloated cost your are quoting g here including the transatlantic pipeline, fertiliser plant and refinery.

Don't allow your self to be used as s tool of destruction and yes the refinery will work and Dangote will get more wealth whether you and your cohorts like it or not.

God bless Dangote
GOD BLESS Nigeria



Pls mention the 60% foreign loans in dangote refineries. Most of the loans are tied to nigeria banks and investment from few selected individuals.

Secondly has it ever occured to you that those importing fuel from refineries abroad and those refineries are sabotaging dangote.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by deenee: 4:08pm On Jul 17
skj1377:
My point is simple. express your opinion without calling contrary opinions names. You an I have valid opinions as the saying goes a glass can be half empty or half full or better said "m" looks like w depending on the side your looking at it from. Dangote cement has not made cement cheaper in Nigeria rather more expensive hence his abnormal profits due to his monopoly of the product. How many additional jobs has he provided against the cement companies his monopoly has closed down. In case you Dont know cement in China is equivalent of N350 for 50kg.Dangote is selling same thing N2700. He has made so much money from poor Nigerian and has started buying cement companies allover Africa. He has made several times the cost of building his cement plant several times over . Dangote refinery will go same way but is like the prayers of Nigerians he has been cheating has caught up with him, he wants to inflict similar business profiteering on per litre of petrol sold in Nigeria but God will not allow him. Like the saying goes everyday for the thief but one day for the owner. Yahoo boys and Dangote are one and the same thing just that Dangote goes a step further by making people jobless, broke, indebted, homeless and hungry. Even yahoo boys are learners compared to Dangote . I have been telling people judgment is at hand and God has started paying people back in their own coin. How I wish an Ibeto family member becomes president of Nigeria then you will see how Africa's richest man will fade into oblivion. Anyways enjoy your weekend.

Nigeria is s capitalist economy not a socialist one where government moderates or provides subsidy for the purchaes of items

Capitalist societies are built with a profit mentality driving them so it won't make sense to be a business man and do my business like I am running a charity. You need to understand this. Otherwise go and set up a business and be dashing people your goods on credit or for free.

Even the Ibeto you mentioned is a capitalist and driven by profit.

QED
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by Timmi: 4:41pm On Jul 17
skj1377:
I laugh in Spanish. Google can't help but if you understand simple math divide the gross profit of Dangote cement by the total cement produced and sold within the period. That is your margin but I hope you know that every company has 3 books . The book for the owner "Dangote" the book for the government and shareholders "general public" and the real book " true value of the company." Mr google search, which of these three books do you think you will see on Google search engine.you need to be a real world manufacturer to understand somethings because they are not even known by the professors that impacted knowledge into you in the first place. Let me give you a simple example I will use myself. I need to get a permit from a regulator and they insist I state my product volume for the period in question. My product volume has to align with my audited reports as well as declared profit as reflected in my tax clearance for the period to avoid a query from regulators. Mind you declared profits have been negatively adjusted so during manufacturing we have two log books one for gov and the real one because I don't have shareholders. So apart from products that are manufactured but Dont reflect in any company account the ones that reflect are still divided into two. Remember all have to be synchronised because the government regulators especially the southerners among them are not foolish so you have to be smart and tidy. Palms are greased as everybody goes home happy and I get to produce another day but among these three reports the one that will get to google if someone does a search will be the adjusted government copy which unfortunately is a far cry from the truth. So if Dangote published in the newspapers that in the year ended 2020 he sold only 200Mt of cement and made a profit of N300billion using myself as an example because nobody holypass you yourself imagine how much he really made from the Nigerian masses and do you still think I will see the truth in Google search

Obviously you are too consumed to proof that you truly know economics and finance that you could not comprehend that my reference to google search is to point out that Dangote is not the only cement manufacturer in Nigeria. Not interested in any of your schooling and cosmetics display of your so called knowledge.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by Timmi: 4:43pm On Jul 17
skj1377:
My dear I Dont have time to argue with you both bua and lafarge are complaining about Dangote few years ago Dangote was pushing a regulation for cement to be of 95% purity before it can be sold in Nigeria then he called it 3xx. At that time he had just completed a high purity processing plant in his Obajana plant. Had that regulation been approved by the government Dangote would have temporarily or permanently edged out all his competitors. You may not know this because your probably not science inclined. Secondly, his trade practices, include suppression of railway networks development in Nigeria just so that he can capitalise on his vast network of distribution trucks to edge out his competitors . transportation cost is a significant cost component of finished products if you Dont have a vast network of trailers registered under you and you have to rent then your finished products will be marginally higher than your competitor who has the network over time you can drive up cost because you can sell low at areas you have competition and make up for it from areas with minimal competition. Railway lines would have levelled the playing field. All manufacturers can make use of it to transport their finished products to all parts of the country and compete with his products there thereby driving costs down. Unfortunately, his trucks have caused a higher than normal death toll and have degraded newly constructed roads. No matter the barrier you put on a new road to ward of his trucks he has the connection to remove your barrier and in a few months time the road is riddled with potholes. You may say the roads are not well constructed but remember not all roads are heavy duty besides how much tax does he pay Nothing or next to nothing... I Dont have time to be explaining but if your a real life manufacturer like me you should understand what a monopoly in a lawless country like nigeria can do to your business .why do you think he is always eager to enter the market with a monopoly policy from inception?? The reason is to control price. Unfortunately, his approved prices are a huge burden to the masses and very unpatriotic or how else can you explain why Dangote cement is cheaper in Benin republic and Cameroon. Dont worry there is hope, once nigeria is restructured I wonder how he will try this his rubbish in Yoruba land where like minded people like me are in business for the same money he is looking for.

Ok suite yourself Mr. real life manufacturer. Not interested in any unnecessary and uncalled for argument. I have proved my point in my earlier submission. Bye
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by skj1377(m): 4:44pm On Jul 17
Oga Dont argue with me the capitalism practiced in Nigeria is crase-capitalism the worst type world over. I hope you know that federal government minimum wage may not be able to buy 9 grown chickens. Capitalism without any social safety net.
deenee:


Nigeria is s capitalist economy not a socialist one where government moderates or provides subsidy for the purchaes of items

Capitalist societies are built with a profit mentality driving them so it won't make sense to be a business man and do my business like I am running a charity. You need to understand this. Otherwise go and set up a business and be dashing people your goods on credit or for free.

Even the Ibeto you mentioned is a capitalist and driven by profit.

QED

1 Like 1 Share

Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by ositadima1(m): 5:53pm On Jul 17
skj1377:
I laugh in Spanish. Google can't help but if you understand simple math divide the gross profit of Dangote cement by the total cement produced and sold within the period. That is your margin but I hope you know that every company has 3 books . The book for the owner "Dangote" the book for the government and shareholders "general public" and the real book " true value of the company." Mr google search, which of these three books do you think you will see on Google search engine.you need to be a real world manufacturer to understand somethings because they are not even known by the professors that impacted knowledge into you in the first place. Let me give you a simple example I will use myself. I need to get a permit from a regulator and they insist I state my product volume for the period in question. My product volume has to align with my audited reports as well as declared profit as reflected in my tax clearance for the period to avoid a query from regulators. Mind you declared profits have been negatively adjusted so during manufacturing we have two log books one for gov and the real one because I don't have shareholders. So apart from products that are manufactured but Dont reflect in any company account the ones that reflect are still divided into two. Remember all have to be synchronised because the government regulators especially the southerners among them are not foolish so you have to be smart and tidy. Palms are greased as everybody goes home happy and I get to produce another day but among these three reports the one that will get to google if someone does a search will be the adjusted government copy which unfortunately is a far cry from the truth. So if Dangote published in the newspapers that in the year ended 2020 he sold only 200Mt of cement and made a profit of N300billion using myself as an example because nobody holypass you yourself imagine how much he really made from the Nigerian masses and do you still think I will see the truth in Google search

If you have solid proofs you can make loads of money from this accusations in court. Both Dangote and the auditing firm are bound by law to be transparent and sincere in their reports.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by skj1377(m): 6:01pm On Jul 17
Like when pwc audited NNPC under the former female minister kiss sorry to ask but are you in Nigeria living and working?
ositadima1:


If you have solid proofs you can make loads of money from this accusations in court. Both Dangote and the auditing firm are bound by law to be transparent and sincere in their reports.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by deenee: 10:32pm On Jul 17
skj1377:
Oga Dont argue with me the capitalism practiced in Nigeria is crase-capitalism the worst type world over. I hope you know that federal government minimum wage may not be able to buy 9 grown chickens. Capitalism without any social safety net.

It is not by force to work for FGN same also minimum wage is developed nations isn't sufficient.

Nigerians and their entitlement mentality.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by afube: 2:10am On Jul 18
deenee:


The mistake you people keep making with this EMV buhahaha is you assume Dangote wants to sell his refined crude to foreigners which is not correct.

How many electric cars do yiu see in Nigeria or even West Africa that is is target market?

Please let's stop mixing apples and oranges.




Well said like the typical unthinking and slow to act African that you are! while richer countries are doubling down on the EV industry ..........you Africans are as usual marking time and twiddling your thumbs as the world leaves you behind ! Tell me which part of Nigeria's oil and gas sector with a mega billion-dollar investment that is not dependent on export proceeds.......crude oil? liquified gas or petrochemicals?...............the effective shelf life of that refinery is no more than 15 years or probably less.........and the clock started ticking since 2020.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by deenee: 11:53am On Jul 18
afube:





Well said like the typical unthinking and slow to act African that you are! while richer countries are doubling down on the EV industry ..........you Africans are as usual marking time and twiddling your thumbs as the world leaves you behind ! Tell me which part of Nigeria's oil and gas sector with a mega billion-dollar investment that is not dependent on export proceeds.......crude oil? liquified gas or petrochemicals?...............the effective shelf life of that refinery is no more than 15 years or probably less.........and the clock started ticking since 2020.

Development happens at an uneven pace and I laugh when you people draw unrealistic comparisons and in the process mix apples and oranges.

For your information I don't even live in Nigeria and haven't been there in over half decade but I am always realistic with my growth projections.

Before we can begin to adopt the use of EMV as a mode of transport, there has to be adequate infrastructure and to get to that level of infrastructure efficiency will take at least 2 to 3 decades of intensive back to back investment. It goes beyond simply buying a EMV and putting g it on the road!

So trust when I say half a decade at least or more I know what I am saying!

Again Dangote's target market is not to export to the richer countries with their EV technology but service Africa as a continent. And EV tech or not oil will still have its place in the scheme of things.

It'll still be used to power heavy equipment and use for other purposes.


Every country has their own growth trajectory. In the past Egypt had one of the best building technologies evidenced by the construction of the pyramids, same applies to Greece, Rome and other past civilizations

You people just sit down and talk without content. Despite all the buhahaha. Toyota still sold three times more gas cars than Tesla in H1 2021 and this is just America alone!

Even with 15years shelf life he will still make his money. Bad belle people!

God bless Dangote
GOD BLESS Nigeria
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by Bamibor: 1:59pm On Jul 18
TheSparrow:
This writeup is loaded with ignorance, weak assumptions and false narratives.

Chief, always make a habit of providing answers, not merely pointing out errors. If you are sure the write-up is full of false narratives as you claim, then kindly furnish us with the true picture of things from your vantage point.
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by afube: 2:34pm On Jul 18
deenee:


Development happens at an uneven pace and I laugh when you people draw unrealistic comparisons and in the process mix apples and oranges.
Before we can begin to adopt the use of EMV as a mode of transport, there has to be adequate infrastructure and to get to that level of infrastructure efficiency will take at least 2 to 3 decades of intensive back to back investment. It goes beyond simply buying a EMV and putting g it on the road!

So trust when I say half a decade at least or more I know what I am saying!

For your information I don't even live in Nigeria and haven't been there in over half decade but I am always realistic with my growth projections.


Again Dangote's target market is not to export to the richer countries with their EV technology but service Africa as a continent. And EV tech or not oil will still have its place in the scheme of things.

It'll still be used to power heavy equipment and use for other purposes.


Every country has their own growth trajectory. In the past Egypt had one of the best building technologies evidenced by the construction of the pyramids, same applies to Greece, Rome and other past civilizations

You people just sit down and talk without content. Despite all the buhahaha. Toyota still sold three times more gas cars than Tesla in H1 2021 and this is just America alone!

Even with 15years shelf life he will still make his money. Bad belle people!

God bless Dangote
GOD BLESS Nigeria



I live in the united states too, let me assure you that the Dangote refinery is in a very dicey and delicate situation, nobody is saying the refinery will not make money but the projections may not hit their proposed height cos of the impact of the EV revolution, for instance, the Tesla s Plaid is electric Ev which is essentially a 4 door family car is much faster than the fastest Ferrari sports car and it does so with much better mileage and the maintenance is far, far, far lower........................ A new progressive government led by a southerner may not be so supportive of Dangote's profligate adventure.


I have test driven the VW ID4 and I tell you the motor engined car is in trouble.................
Re: Dangote Refinery: Bailing Out The Unbailable - Investment Or Bailout? by deenee: 3:44pm On Jul 18
afube:


I live in the united states too, let me assure you that the Dangote refinery is in a very dicey and delicate situation, nobody is saying the refinery will not make money but the projections may not hit their proposed height cos of the impact of the EV revolution, for instance, the Tesla s Plaid is electric Ev which is essentially a 4 door family car is much faster than the fastest Ferrari sports car and it does so with much better mileage and the maintenance is far, far, far lower........................ A new progressive government led by a southerner may not be so supportive of Dangote's profligate adventure.


I have test driven the VW ID4 and I tell you the motor engined car is in trouble.................


All that you have said is correct but you are still mixing apples snd oranges and acceptance of an EV revolution has nothing to do with the tribe of the person in power in Nigeria.

For EVM to make sense, there has to be infrastructure to support it in Nigeria and Africa. Unfortunately, the infrastructure deficit won't allow this. Unless, as I mentioned earlier- back to back consistent investment in the infrastructure outlay which will take at least a decade to bring to fruition.

Secondly, what is the purchasing power of the average Nigerian/African? Less that 2% of the entire population will be able to buy a EMV ( new or tokunboh at an price range of USD40k-USD120k!)

We always make this mistake of drawing quick straight line comparisons between Africa and the "developed nations"

You haven't talked about charging ports, electricity, security, good roads, etc and you think it's Electric Motor Vehicle that the government (incumbent or incoming, irrespective of tribe) will face?-think again

As per Dangote, his target market is Africa same as he has focused his other companies in line with his Africa focused business operations model.

The refinery is currently valued at USD50billion if we prorate using the 20% minority equity investment from NNPC. That's already USD10billion into Dangote's pocket already. He plans to float shares on the NSE (about 15% and sell about10% to other strategic investors. With these deals alone, he would have made his money back even before the refinery starts work and still be a majority shareholder with 55% ownership!

God bless Dangote
God bless Nigeria

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