odi1278:
How is it possible that a project that hasn’t commenced revenue generation has paid back almost 70% of the loan. Please use your church mind na… God give you brain to be able to reason.

It's because of exactly the last paragraph of your post that the likes of Emefiele can confidently come out and spill lies,that a normal child can smell from miles off;but many Nigerians have decided to exchange their God given brain for sawdust.
A company that hasn't sold one single product has started paying off it's loans!
In advanced climes that should even be a course for investigation.It either means that company is doing round tripping with funds or is divesting funds from its other businesses to pay the stated loan,both of which should be a cause of great concern.
But no,a loan repayment claimed by a totally discredited CBN governor is now being celebrated by some with no questions asked,as per the authenticity of it or the source,if remotely true.

ufotunang:
..abi,. the government wants to be in charge of those government owned refineries so that any money allocated to those refineries for repairs and rehabilitation of the refineries the
federal government and government officials will embezzle and loot the money to their pockets and bank accounts., nawaoooo

Exactly bro... Sucking blood, that's what I call them

richmond500:
I wonder why people hate this man

It's normal, the poor hates the rich not minding the problem solved.

ufotunang:
.. that is why I like the private sector..they perform their job efficiently and better and produce better positive results,not like the public sector, government sector full of corruption

....yes, because if it fails there is no where to hide.

Who ask you? Amebo rubber stamp CBN governor.

Is this man still boldly making comments? The man na confirm fake.

Dangote can build refinery but Nigeria can't. Interesting times

fuckJones:
that will not happen, Dangote occupied a monopolistic seat in that field now, he will influence the price and nothing will happen

Its not about monopoly, FG is not going to subsidise the crude for him. He is going to buy at international rate do he is going to sell his fuel at international rate however we are going to benefit from cutting the logistics and duties and charges at the port plus it help how reserve since we won't be sending our hard earned dollar abroad. If FG decides to subsidise the crude for him, he is going to profit more since he is also selling to the international market plus the cheap fuel will be smuggled across the border to sell at higher rate for profit.

happney65:


Dey play. Someone that is going on study leave. If na you,you go wait make them deal with you?

Who will allow him go?

Lovenorth:

Who will allow him go?

Who is president till next week Monday?

Have u forgotten that the facility hv one of the biggest fertilizer plant that as since commerce operation abt 2years ago

odi1278:
How is it possible that a project that hasn’t commenced revenue generation has paid back almost 70% of the loan. Please use your church mind na… God give you brain to be able to reason.

ojun50:

Dey play, just prepare to buy at 500 plus, ones the refinery is ready we remove subsidy

First of all, what is subsidy? What are they subsidizing? The transportation cost of refining crude in foreign refinaries converting our naira into dollars and the transportation cost of bringing it back to Nigeria back in dollars. That is what the federal government is subsidizing and why they are using Forex.

With Dangote refinery, the cost of production is low and domiciled in naira and little transportation cost from the refinery still in Naira to other part of the country.

So that is the ideology.

HacheNoire:
Dangote is one brilliant dude!

Already servicing debt without starting production.

Dudes calculations coming thru!

He doesn’t have a choice..not as if he willingly decided to be paying the loan..
The loan repayment was supposed to start in 2013 which was the initial start date of the refinery..but due to non start-up it was restricted to 2016..but unfortunately the bank could not take excuses anymore..

ojun50:

Dey play, just prepare to buy at 500 plus, ones the refinery is ready we remove subsidy

🤣 you don't even know what subsidy means.

Frezhkid10:

He doesn’t have a choice..not as if he willingly decided to be paying the loan..
The loan repayment was supposed to start in 2013 which was the initial start date of the refinery..but due to non start-up it was restricted to 2016..but unfortunately the bank could not take excuses anymore..

are you the one receiving the loan he is repaying? How do you know that? Enemies of Nigeria. U guys will never win this time.

Ask your village king if his right side of his brain is working, all I was doing was to wish Nigeria better after 8 years of struggling. All you do is to insult me are you ok?

LORDKing001:

Check the right side of your brain is anything left?

OChimex:


He is not. He is just one lucky dude who accepts to play by the tunes of Nigeria dumb wicked politicians to milk and country and extort the poor masses.
Take for instance cement. Just 4 or 5 of them in that industry, now fuel, only him they let build refinery.
If this dude thinks he is smart, let him come into European, American or Asian market come play, where you have big, smart money.
After all, American, European, Asian billionaires are coming to Africa to invest.
Let him as richest African go that side go invest.
Then, if he succeeds, I will believe him.

You are just a broke hater!

freemanq:
Ask your village king if his right side of his brain is working, all I was doing was to wish Nigeria better after 8 years of struggling. All you do is to insult me are you ok?

I only asked to checkmate yourself. I nevee intended to insult you. I'm sorry if you feel insulted. Apologies

richmond500:
I wonder why people hate this man

U can't know ppl real character from distance

freemanq:
Fuel will now be sold at 85 per liter

Just like cement that was #800 before Dangote opened cement factory is now #4500 to #5000? My dear brother sorry to tell you the honest truth, fuel will be more costlier when Dangote crude oil refinery starts operation.

HBB1:


You are just a broke hater!

I am not. Check my profile.
Dude Na Samsung S23 Ultra and IPhone 14 pro max I dey take dey reply you ooo.
See the time on my phone screen too, na the time in the country I am currently now.
So, don’t call people you don’t know broke. Argue your point.
No be everybody wey dey nairaland be broke.
Some big boys dey here too.
Be guided.
Anyways, most Naija wealthy men are just dumb criminals reaping off poor masses.
If them fit run am via intelligence, let them enter international market with their hustle let’s see how far.

OChimex:


I am not. Check my profile.
Dude Na Samsung S23 Ultra and IPhone 14 pro max I dey take dey reply you ooo.
See the time on my phone screen too, na the time in the country I am currently now.
So, don’t call people you don’t know broke. Argue your point.
No be everybody wey dey nairaland be broke.
Some big boys dey here too.
Be guided.
Anyways, most Naija wealthy men are just dumb criminals reaping off poor masses.
If them fit run am via intelligence, let them enter international market with their hustle let’s see how far.

Come show me love boss. Hungry wan kee me for this school wey I dey so.

I know Dangote would never successful and achieve his project if he manage his company like you manage Nigeria cbn . Oga you better go back to school to lean good monetary Economics than that "YES SIR"political economy in your head before thunder catch you there . He was talking as if he had implement any positive economy's in Nigeria since when he be cbn governor.

happney65:


Who is president till next week Monday?

Who will go against the will of the president elect?

This man never still go school?

freemanq:
Fuel will now be sold at 85 per liter

I laugh..except if that price is a break even price and it aligns with his IRR.

Me I believe something should have been kept hush, for a project which should have a break even of seven years from my initial computation when they first started , anyway with all the extension of time and increase in cost , I really don't know the break even point anymore, but then we should be weary of Economic Hit men , that is why smokescreen is sometimes important in business.

lonecatt:
good for him
dangote doesn't need illegal inauguration of his refinery.

Yes O, When Tinubu visits Lagos State as President, the refinery will be his first port of call.

favor914:
Yes O, When Tinubu visits Lagos State as President, the refinery will be his first port of call.

no problem when the courts validate him just tell inec to allow parties inspect materials

“What you may not be fully aware of, Your Excellencies, is that the Dangote Group has started repaying some of the commercial loans even before the commissioning of this facility. This reflects the commercial capability of the Group and its Chairman. I am pleased to inform everyone today that, following extensive repayments, outstanding debt has dropped appreciably from over US$9 billion to US$3 billion.”

Going by this utterance from Emeifiele, more questions:

1.why is Emeifele referring to $9B when total bill is $19B? or is this another naija padding

2

Nigeria has given its state oil firm the green light to acquire a 20% stake in Dangote's oil refinery for $2.76 billion, junior oil minister Timipre Sylva said on Wednesday.

so 20% of what exactly did Nigeria buy: $9B or $19B because none of them matches to 2.76b for a 20%stake.

HacheNoire:
Dangote is one brilliant dude!

Already servicing debt without starting production.

Dudes calculations coming thru!

Only if you know how much is getting from FERTILISER export.

Islie:


https://dailytrust.com/refinery-dangote-already-repaying-debts-emefiele/

Emefele you want to divert the fund you and the cabals in this administration steal to ɗangote refinery, surely God will exposed you and disgrace you people