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Nairaland Forum / Nairaland / General / Politics / Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel (5192 Views)
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Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by galadima77(m): 7:46pm On Jun 25, 2023 |
While we at this, please someone should help us clarify prices of dangote cement between Nigeria and some neighboring countries. Make we check something. |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by stanluiz(m): 8:39pm On Jun 25, 2023 |
07kjb:Your last paragraph said it all. You commission a project yet the project is not operational. It has not be completed. They keep pushing and postponding the date of the project. Dangote is now about to import fuel. So what the use of building a refinary ? 3 Likes |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Thinkfree(m): 8:52pm On Jun 25, 2023 |
07kjb:who are the intellectuals? The ones that are filled with hate above or the envious ones that like hate anything Nigerian or Northan? |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Bundaweber: 8:55pm On Jun 25, 2023 |
mrvitalis: where in edo state? |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by emerged01(m): 8:55pm On Jun 25, 2023 |
Shallow thinking. Poor men are always believe they are right. 2 Likes |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Thinkfree(m): 8:59pm On Jun 25, 2023 |
Typing:he called pure jealousy and hate intellectual. 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Thinkfree(m): 9:03pm On Jun 25, 2023 |
emerged01:and they also believe God is for them only. |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Bundaweber: 9:06pm On Jun 25, 2023 |
inoki247: again where in edo state? where is the cng station please? 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Bundaweber: 9:08pm On Jun 25, 2023 |
Typing: abi ooo!! i con dey wonder if na the same edo state wey i dey abi na another one wey dey for dream world dem dey talk about. 2 Likes |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by GeneralDae: 9:08pm On Jun 25, 2023 |
stanluiz:Your last paragraph has been refuted several times as fake news. So why repeat it? 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by inoki247: 9:13pm On Jun 25, 2023 |
Bundaweber: Go to NiPCO filling station or use Google... 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Bundaweber: 9:15pm On Jun 25, 2023 |
[quote author=inoki247 post=124033908] hmmn |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by inoki247: 9:17pm On Jun 25, 2023 |
Bundaweber: Mak use of Google or go to any NiPco branch in Benin dem go tell u the one that's selling that type of Gas... 2 Likes |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Vinnie2000(m): 9:52pm On Jun 25, 2023 |
Well said, OP. Dangote is a Greedy, Evil Capitalist. He is another form of Gen Sani Abacha and wants to Suck this Nation Dry. I suspect the North wants to use him to Stockpile Wealth for themselves, for the Future.😕 So that should Nigeria Break up, They won't Suffer.🙁 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 9:53pm On Jun 25, 2023 |
07kjb: Typical South.Beasts filled with hate, envy and bitterness. |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 9:57pm On Jun 25, 2023 |
b4bola: SSFeedsNigeria is just a typical South.Beasts filled with hate, envy and bitterness |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 10:05pm On Jun 25, 2023 |
Typing: SSFeedsNigeria and other South.Beasts are filled with hatred, bitterness and envy. But I want to let you know they do other business such as: Baby factories Cocaine pushers 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 10:09pm On Jun 25, 2023 |
XerXers: Pained, bitter, hateful and envious Igbos are just venting their ignorance on this thread. Electric cars are yet to take over the automobile market in Europe and America and you expect them to take over Africa first. One thing about IPOB is their lack of tact when they attack you out of envy and jealousy. 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by BeLookingIDIOT(m): 10:27pm On Jun 25, 2023 |
ClassicMan202:Won't any business where there is serious competition be harder to break through before 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by BeLookingIDIOT(m): 10:30pm On Jun 25, 2023 |
Number of electric vehicles globally: 2.2% Number of CNG vehicles globally: 0.02% OP and co are the walking definitions of delusional. |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by chosengocap: 10:41pm On Jun 25, 2023 |
helinues: Even great companies make mistake ....great mistakes .... 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Davidson1010: 11:20pm On Jun 25, 2023 |
BeLookingIDIOT:Irrespective of your believe, Electric car is the future. Thanks 1 Like
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Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by BeLookingIDIOT(m): 11:23pm On Jun 25, 2023 |
Davidson1010:It will still remain a minority fraction even in the foreseeable future. That electric cars usage is growing isn't the question. The question is wether currently investing in fossil fuel is a bad business decision like you claim. |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Davidson1010: 11:33pm On Jun 25, 2023 |
BeLookingIDIOT:Not what I claim, rather what I believe. My brother, rationally speaking, this is not ALL about Dangote, but the Nigeria government inclusive. This is the time Nigeria government should start diversifying. |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 11:44pm On Jun 25, 2023 |
SSFeedsNigeria Ajaokuta primarily crashed because it was owned by the federal government. The state owned oil refineries all packed up despite access to crude oil. So, from the onset, Ajaokuta steel was doomed. Dangote refinery on the other hand is privately owned and gives it a far greater probability it will succeed. Secondly, Dangote is an astute businessman. I was shocked to discover he exports fertilizer to the US. The size of the refinery indicates he also had plans to export and I won't be surprised if he already has buyers. When the refinery will be complete seems to be a mystery but the last that was heard from the company itself was this July 2023. Let's not be pessimistic. Yes, Dangote was hoping to corner the market but he seems to have shot himself in the foot. Bua's 200,000 bpd refinery will come onstream next year. If the 4 NNPC refineries are sold off and then fully refurnished by their new owners, that's more competition. Tinubu has already said he wants refining capacity to hit 2mbpd in locally by 2030 His biggest competition won't be local but foreign. That is the only means local refiners don't gouge us to death. As for lacking the funds to complete it, it is all speculation. He recently sold a 20% stake to NNPC for $4bn. He could sell more shares to other entities to ensure the project is completed. As for demand for fuels falling, that will take sometime. I would be a billionaire if I received a $1,000 any time anyone mentioned the death of fuels and the prediction not coming through. Many poor countries will still be heavily reliant on fuels for a very long time. Many of these rich countries export their fuel powered used vehicles to the Third world. It will be around 2040 that one may begin to see some decline in global demand. 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 12:02am On Jun 26, 2023 |
Svoboda: Petrol is going to be so difficult to displace because it is not only relatively cheap(It is heavily taxed in the West because of this) but a natural go to source for energy. Wind and solar energy take up too much land in my opinion and are relatively expensive. Nuclear energy would have been a much better option but environmentalists hate them with a passion for some incomprehensible reasons. They produce zero carbon emissions. 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 12:08am On Jun 26, 2023 |
XerXers: Bet against Dangote at your peril. He is in a better position to sell below rivals due to the scale of his plant. 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 12:13am On Jun 26, 2023 |
SSFeedsNigeria: I fully agree with your last paragraph. He has said that import of all refined fuels ends the second his plant is ready. This is to kill his most vicious competition which will come from imported fuel. Also, it is enshrined in the Petroleum Industry Act that only those with local refining capacity will be allowed to import fuel. You can guess who influenced that. 2 Likes |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 12:25am On Jun 26, 2023 |
inoki247: Please, how much is a kilo of CNG? |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by kayo12: 12:29pm On Jun 26, 2023 |
helinues: |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Tifnubudrugs: 12:53pm On Jun 26, 2023 |
complexstuffs: Stop being emotional and reason like a normal human being. The op is 100% correct! Dangote should have built a smaller refinery but no, he wanted to monopolize the downstream sector same way he did to cement, so he can increase prices arbitrarily. Now it has backfired, he can't finish the refinery again and the more he delays, the more hopes of recouping his investment seed capital wanes. 1 Like |
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 1:52pm On Jun 26, 2023 |
Tifnubudrugs: 1) How has it backfired? 2) Can the refinery not start operations even before it is completed? 3) Did Dangote tell South.Beasts that his business plan had backfired? 4) Why are bitter and envious South.Beasts taking panadol for Dangote's headache? 5) Europe and American hasn't yet been taken over by electric cars, yet bitter and envious South.Beasts wants to convince people that Nigeria with no NEPA will be taken over by electric cars. 6) Dangote didn't emerge as Africa's richest man by listening or paying attention to envois and bitter South.Beasts. |
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