If this man eventually finish this refinery...we go hear am for this country...na press up we dey do now...

He should send his account details

When will it be operational bayi?

Let's not expect fuel at 180/litre at the of it all

Aidejay:
Inasmuch as I hope dangote fulfills this dream, I can't help but feel uneasy about this it's prolonged completion timeline. And more debt financing againnnn!



I guess you can't rush greatness.

doctokwus:
Hope this is not another scam

Better to keep shut than spew thrash. How is issuing corporate bonds a scam?

Anyway, for those interested it would be in two tranche of 150b naira each, minimum amount to invest is fixed at 10m naira.

Islie:





https://thenationonlineng.net/dangote-shops-for-additional-n300b-to-finance-refinery/

He has friends in high places already.

Teeroyzimma:
If you support Drugnubu then you need to be taken to a mental home.

Vote Peter Obi. Vote Labour Party.

Guy! Link me up na. Make I follow chop from this Pandora money na.

I'm Atikulated and I don't want to be obedient

Let's ask Abacha.........

Transcriber:

How does this relate to the news?

Do you need glasses?

u get sense at all? How much was naira to dollar b4 apc took over? Are u aware that all the parts and expartriates salaries for the refinery is in dollars?

The project is too big for Dangote . He should sell some more of it, he has sold some to the FG in an un-transparent deal and I believe the FG was shafted.
A private investor would have negotiated more shrewdly
Nigerians have money . He should list on the Stock Exchange

aboki was the richest in the 50's (Alhassan Dantata), richest in the 80's (Maideribe), and richest in the 21st century (Dangote).

This will end up in the Guinness book of record as the most expensive single train (obsolete) refinery in the world. The aura of this government doesn't portend greatness for anyone especially those associated/associating with them

Aidejay:
Inasmuch as I hope dangote fulfills this dream, I can't help but feel uneasy about this it's prolonged completion timeline. And more debt financing againnnn!



I guess you can't rush greatness.

This entire project looks like one money laundering venture to me.

Aidejay:
Inasmuch as I hope dangote fulfills this dream, I can't help but feel uneasy about this it's prolonged completion timeline. And more debt financing againnnn!



I guess you can't rush greatness.

since 2020, the price of steel , a major material in the refinery construction has more than doubled in price internationally, and almost quadrupled locally. There is no way project price can stay same.
Let's encourage this global African champion

Aidejay:
Inasmuch as I hope dangote fulfills this dream, I can't help but feel uneasy about this it's prolonged completion timeline. And more debt financing againnnn!



I guess you can't rush greatness.

continued exchange rate issues will continue to affect the project

Throwback:
This the very reason the established oil importers refused to utilise the refinery license they secured.

Too much capital would be tied down to completing the project over many years. Then more years of operation before breaking even and making profit.

They decided to continue with their importation with an investment turnaround time of few months.

oga the key is modular refinery, the VP propounded this idea sometime ago but politics aorrounding the oil industry will not allow it take root.

Transcriber:
Just wait as those obidient guys turn this news into something about their god

Fucking Dumbos

The Exchange rate is more of the problem than cash.

If the exchange rate is N200 to a dollar, this refinery would've be done with since some years ago.

My cousin truly said that refinery won't be ready till 2024

MadamExcellency:


The Exchange rate is more of the problem than cash.

If the exchange rate is N200 to a dollar, this refinery would've be done with since some years ago.

nonsense talk

Trojan8:


Better to keep shut than spew thrash. How is issuing corporate bonds a scam?

Because it reminds me of the Ajaokuta steel plant.
More than 60% of the project was funded by the CBN and FG at concessionary exchange rate even when dollar was at ₦360.
Where do you think the foreign exchange equivalent for this ₦300b would come from again,from your a rse or defective brain?
Aside the fact that the CBN would likely sell for him at 400/dollar,using scarce dollars that is supposed to be used to defend the Naira or fund multiple other aspects of the economy.
The same format then big men used to wreck banks,using bank executives to grant them billions of Naira loan they knew they not only couldn't but had no intention to pay.
Who do you think guaranteed the foreign loans Dangote has taken this far?The CBN and FG of course and when they are due,even when the refinery hasn't come on board,who pays?The FG!
So tell me where I was wrong to have strong suspicion that this looks like a phoney,money draining project?

aribisala0:
The project is too big for Dangote . He should sell some more of it, he has sold some to the FG in an un-transparent deal and I believe the FG was shafted.
A private investor would have negotiated more shrewdly
Nigerians have money . He should list on the Stock Exchange

He want sole ownership.
Govt already gave him their term, he declined.
More than half of the money he put in the project is looted funds from politicians. As he don't want to agree to their terms,they stopped pumping money in, since then, he has been struggling.
I don't think he has up to 40% stake in that refinery. And trust me, we will hear the naija story when it starts working.

They pegged dollar exclusively for him, had waivers and what didn't they do for him.

He only shine in monopoly but in this one, monopoly won't work cos he is fighting against those who gave him monopoly and support.

Smithkafors:
Yes, because the exchange rate has doubled. If he doesn't hurry up, he will need more naira to covert back to dollars to finance his company.
Dangote earns in Naira plus other African currencies and not in dollars. Despite getting dollars at way cheaper rates, he is still unable to complete his company. This will tell you how much damage has been done to the economy. Na the banks I pity, cause the financed the major part of the project.

If i recall NNPC purchased some stake in Dangote Refinery so i am wondering what the outcome was or was it just for Optics and propaganda?

doctokwus:

Because it reminds me of the Ajaokuta steel plant.
More than 60% of the project was funded by the CBN and FG at concessionary exchange rate even when dollar was at ₦360.
Where do you think the foreign exchange equivalent for this ₦300b would come from again,from your a rse or defective brain?
Aside the fact that the CBN would likely sell for him at 400/dollar,using scarce dollars that is supposed to be used to defend the Naira or fund multiple other aspects of the economy.
The same format then big men used to wreck banks,using bank executives to grant them billions of Naira loan they knew they not only couldn't but had no intention to pay.
Who do you think guaranteed the foreign loans Dangote has taken this far?The CBN and FG of course and when they are due,even when the refinery hasn't come on board,who pays?The FG!
So tell me where I was wrong to have strong suspicion that this looks like a phoney,money draining project?

I didn't see this before I commented.

That project is fed govt project cum politicians fronted by dangote. That Nigeria is where either is today with valueless naira is cos of people like danhote especially dangote.
Wonder why people hail this parasite of a man.
Take him to US to compete favourably with industrialists, he will declare bankrupt within 2 yrs.
Padded industrialist.

Jlow2:
With dollar at 180naira when the project started to 620 now, I can imagine when the project will be completed

this might be the beginning of his end. You can't have it all. He is greedy. Should have invested more into agricultural production than oil.

Africa needs food.

Islie:





https://thenationonlineng.net/dangote-shops-for-additional-n300b-to-finance-refinery/

I guess the high foreign exchange rate is what prompted this. He should do an IPO and Nigerians themselves will gladly raise more than he expect, infact, he will be over subscribed sef. The rate at which he dey borrow so, I just hope we can still afford his fuel

Transcriber:

How does this relate to the news?

Do you need glasses?
so can you tell me how Obi will make the exchange rate lower?

Besides do you really want the refinery to work?
Or you've just found another avenue to whine?
How is PDP better than APC?

One way I know he will help is banning dollarisation of our local economy and party electoral processes, which if loopholes are blocked, importers can get enough dollars to important essentials, in the long run it will rise the naira against dollar because hoarders will reduce

englishmart:
Dangote is just a frontier. That refinery is a northern Nigerian project.

u have proof?
abi na just propaganda?

Transcriber:
Nice

But his refinery is his problem

Completing it will only make him richer not the masses

His monopoly will only increase

You said this because you are shallow in thinking.
That refinery, not yet completed but has provided jobs for hundreds already if not thousands. Some were even sent abroad. When completed and start operation, just think about the number of direct employments and indirect ones.
What about the availability of the petrol and other products irrespective of the prices?
The issue of too much demand for forex is there, naira may gain against dollar

That refinery na issue. The dwsign get k-leg sef

Sixfiguresmart:
this might be the beginning of his end. You can't have it all. He is greedy. Should have invested more into agricultural production than oil.

Africa needs food.

Your government failed to maintain four refineries. Many industrialists obtained licences to build refineries but couldn't embark upon it. We now have one man doing it and you already termed him greedy and already seen the beginning of his end. Lol, Nigerians and their shallow thoughts never disappoint.
Dangote already invested in agriculture, what about you? How much is your investment in agriculture? Easier said than done.