You still get mind to dey talk.

An economic saboteur too is talking?where will Dangote get d dollars from?do western countries buy refined petroleum?did he know that Dangote has over $20bn loan to pay off creditors which might mean swapping his refined products at there own terms?
Even nnpc don't has the capacity and efficiency to supply all d crude oil Dangote refinery needs...DR will has to import crude oil from outside with dollars to have consistent and uninterrupted products supply.
Instead of government to build or revived their own refineries they are depending only on a wiseman with only one head with brain even smaller than meffy's own.

linearity:


PMS traders don’t go to the aboki on the street to exchange their dollars, it is that same CBN that give then dollars at the official rate, how would this help the common man? Or are you saying CBN or commercial bank will start selling dollars at the official rate to all Tom, Dick & Harry?

Nigeria external debt profile is the major contributor of the hike in dollar, by next year the amount to service Nigeria debt with current projections would be equal to revenue generated.

Because of our debts and unsustainable economic projects, businesses and people are afraid to store their values and wealth in Naira, because they can lose significant value overnight.

Dangote is not a fool, he is not going to be storing his values and wealth in Naira either.

Look to how Dangote have ran Dangote Cement that have impoverished Nigerians for clues on how he will run his refinery. His goal is not to do charity work in Nigeria, it is to make money.

The major factor that crashes the naira is that we make so little of USD and spend so much. It means Nigeria's economy doesn't attract enough USD to keep the country running.

Now, if Dangote Refinery can effectively satisfy our local demands for PMS and other allied products, there wouldn't be any need for importing them into the country. That will save CBN (or Nigeria if you will) a lot of USD.

If CBN has a lot of USD, it will pump it into the market and improve USD liquidity or exchange rate against the Naira. Osinbajo did it several times when Buhari was on his medical trip and that crashed the dollar for a while.

So, no matter how you look at it, Dangote Refinery is a win-win deal for the country as far as the FX market is concerned. If you consider how much (in USD) this country spends to import PMS, you will understand how much she will be saving at the end of the day.

sonature1:
Truly, when Dangote Refinery becomes fully operational, naira will gain value over foreign currencies. Believe it or not, Dangote has been a blessing to this country.

Well said, I pray he ventures into electricity after this refinanry is fully operational.

Emefiele will not be incharge

coputa:
A refinery that will importing crude oil to shore up it's production capacity.Nigeria crude production has dropped drastically due to oil theft, vandalism and spillage.The production sharing agreement NNPC had with the oil major is not enough to supply Dangote.

So, if Dangote still imports crude with the scarce forex available, how will the price of petrol going to drop.

I not for one day ever expected fuel price to drop and I even posted a year or 2 ago that Nigerians should rather expect a rise in fuel price because CBN won't be giving importers preferential exchange rate to buy fuel.
The new policy template is that you can import fuel if you must but you source your own foreign exchange because we now have a refinery producing enough fuel.Of course the parallel market exchange would make importing fuel costly,so they all fall back on Dangote who of course would not sell fuel at subsidised rate,but rather at near market rate or at best goverment pressurised local rate for a year or 2,before going full deregulated rate.
Expect fuel at least 250 for a year or so,then at least 350-400 after.

Now dangote decide our forex... why not sell Nigeria to him

sonature1:
Truly, when Dangote Refinery becomes fully operational, naira will gain value over foreign currencies. Believe it or not, Dangote has been a blessing to this country.

While the government has been a curse to the country

sonature1:


It's either your brain isn't functioning or you are consumed by hate.

All I know is that you're deluded.

Nigeria was owned by British corporate conglomerate. It was passed down to Mafia conglomerate selected from the three main ethnic groups.

Dangote/Dantata, Otedola, Ibeto and a few others were the major beneficiaries of all our foreign income. Jonathan that was expected to change that since he came from the major oil producing states joined them with his cabinet members.

Now that Dangote can generate his own foreign income as he has promised, others will take his place in sharing the foreign income.

We need a change of indoctrination that everything foreign is it or a revolution to change the status quo. But remember, we had a revolution once that was ethnic(tized). The rest is history.

Foreigners rush to Africa, Nigeria in particular while we FLEE to make a fraction overseas. Who is ready to dare the Lions of Nigeria?

Why won't Dangote group buy crude with Nigerian naira thereby strengthening the currency and also supply refined crude to neighbouring African countries in our currency. Just like what Russians did which gave their currency a boost

Christistruth03:
If Emefiele is still in this Country by next week even Buhari will not be able to save him

The road to Cotonou in Benin Republic is still open if all flights out of Nigeria are fully booked

Because he acted without getting approval from his boss "Buhari".?!

seborrhic:
This dull looking dunce has come up again with another of his stone aged economics.
If the refinery will bring in foreign exchange,as is claimed,you don't need to force or beg him to sell at favourable rate.As long as the dollar is entering the market,it will sell at good rate because this time around Dangote won't be the only source of foreign exchange,there will still be majority and substantial earnings from sale of crude.
The only message this dullard wants to pass is that goverment should quash the subsidy regime because of course it would benefit the likes of Emefiele substantially because I bet anything,he has a financial stake in this refinery,aside the billions of dollars he made the CBN to pump into it.
The other day the fraud told people Dangote has started repaying loans from a refinery that hasn't sold one single litre of fuel.

Isn't that his sole expertise - Stone Age economics?

Na FG help dangote build refinery wey e go decide how e wan take sell forex?

See foolish talk,so Dangote is now the new central bank,after building is world class refinery,it shows how useless governance is in Nigeria,all they do in government is to make free money and loot,no vision or innovation,
You have 4 refineries,in 8 yrs u could not build one or even refurbished the existing 4,now u are depending on one business man to reform your foreign exchange earnings for u
AWON ÒNÍ RANU

Ask ke,.... are there no laws about export proceeds reparations again?

This man has resumed his nonsense.

Dangote should simply sell forex at market determined rate.

Dee60:

How some people manage to get to certain positions remain baffling!

You want to 'persuade' a business man on how to fix his prices? In fact, the statement looks like an admission that a single individual businessman will henceforth be handed the keys to determine how much we exchange our Naira.

Ah, we need a new Nigeria.

🤣🤣

Don't mind the nuissance.

orisa37:
EMEFIELE IS MANY TIMES A "COUNTERFACTUAL ABRACADABRA".

DANGOTE'S COMPANY MEMORANDUM OF ASSOCIATION DOESN'T INCLUDE SALE OF MONEY AND FOREX.

orisa37:
EMEFIELE IS MANY TIMES A "COUNTERFACTUAL ABRACADABRA".

DANGOTE'S COMPANY MEMORANDUM OF ASSOCIATION DOESN'T INCLUDE SALE OF MONEY AND FOREX.

Lol. You sef see am.

EMEFIELE IS A COUNTERFACTUAL NUISANCE.

Christistruth03:
If Emefiele is still in this Country by next week even Buhari will not be able to save him

The road to Cotonou in Benin Republic is still open if all flights out of Nigeria are fully booked

Be like say the Tinubu Presidency go be like the normal PDP carry go Government of everybody. In the end, Tinubu fit still just not do anything to Emefiele.

It was in the time of this stupid Godwin emefiele, that we have multiple exchange rates which is not good for Nigerian economy and the common man. This mumu emefiele should just stop talking and vacate the CBN building. The man is too corrupt and clueless.

This CBN gov is so dull


Hot deals on men wears all sizes Jeans 6500

Meanwhile, Emefiele revealed that the CBN had given out about N8 trillion in interventions to the private sector in the last five years.

He said: “In the last four to five years, we have done about N8 trillion in interventions to the private sector of the economy. The loans have been granted for 10 years, with a two-year moratorium and at single digit”.

Stupid people.
When sentiment, tribalism and bigotry is the norm of a country. What do you expect??

Cbn. A whole can and dangote will be the one selling forex.

A bloody citizen.
This is why Saudi Arabia is more matured than these apes.

asiga:


Be like say the Tinubu Presidency go be like the normal PDP carry go Government of everybody. In the end, Tinubu fit still just not do anything to Emefiele.

If Tinubu is not interested in dealing with Emiefele too many others are

orisa37:
EMEFIELE IS MANY TIMES A "COUNTERFACTUAL ABRACADABRA".

DANGOTE'S COMPANY MEMORANDUM OF ASSOCIATION DOESN'T INCLUDE SALE OF MONEY AND FOREX.

Tnx for pointing that out.

Christistruth03:




If Tinubu is not interested in dealing with Emiefele too many others are

Don't forget Tinubu will be the one given the orders and he doesn't look like a vindictive person. He's more like an everybody man.

Hmmm!
As much as I want to follow the thought of the cbn gov.
I think it is practically a challenge .
If dangote is going to buy dollars to pay for 600000 per day including expertraites and equipment.tge refinery will be tempted to hold onto excess dollars to itself and it's other family of the dangote group.
Meaning the dollar will still be scarce

seborrhic:
This dull looking dunce has come up again with another of his stone aged economics.
If the refinery will bring in foreign exchange,as is claimed,you don't need to force or beg him to sell at favourable rate.As long as the dollar is entering the market,it will sell at good rate because this time around Dangote won't be the only source of foreign exchange,there will still be majority and substantial earnings from sale of crude.
The only message this dullard wants to pass is that goverment should quash the subsidy regime because of course it would benefit the likes of Emefiele substantially because I bet anything,he has a financial stake in this refinery,aside the billions of dollars he made the CBN to pump into it.
The other day the fraud told people Dangote has started repaying loans from a refinery that hasn't sold one single litre of fuel.

well said.

The politicians will hijack the forex from Dangote group of company.

Meanwhile, do we need forex here. Oil produced in nigeria sold within nigeria 🇳🇬. So, where does forex comes in here?

E ma gba wa o.