Femi Ote$ @realFemiOtedola

I heartily congratulate my bestie @AlikoDangote as the 8th Wonder of the World – the $20 Billion (Twenty Billion Dollars) @DangoteGroup Refinery – officially commences production. The Dangote Petrochemical Complex, which consists of the world’s largest single-train 650,000 barrels per day Petroleum Refinery, a 1 million metric tonnes of Polypropylene per-annum facility, and two of the world’s largest Fertilizer Trains – with a capacity of producing 3 Million Tonnes of Urea – is much more than just an industrial milestone; it’s a testament to the visionary leadership and relentless pursuit of excellence of one of Africa’s finest and most dogged patriots.

I had a front-row seat as this vision was conceptualized and took shape. And I am familiar with the sleepless nights you’ve had to work through over the last decade to bring this dream to fruition.

This refinery is a beacon of hope for millions of Nigerians and Africans. It is also at the vanguard of championing environmental sustainability. With its Carbon capture technologies and storage processes it will capture up to 90%+ of the CO2 emitted and also play a significant role in reducing Well-to-tank carbon emissions from crude oil maritime transportation, thereby playing its own role in helping Nigeria meet its target for net-zero emissions by 2060.

The Refinery recircles 100% of its water. The heat coming out of the process is fully captured to produce 50MW of Power. Dangote is also producing Euro 5 to replace the bad Euro 5 that has been dumped in Africa for a long time. Shipping 65,000 barrels per day of crude out of Nigeria and 650kbpd in refined products to Nigeria and nearby countries which is 480 ships of 1m barrels per day will save 1.5m to 2.5m tons of CO2 emissions. This will help the environment.

By meeting our requirements for all refined petroleum products, it will champion energy security and independence for our nation and act as a catalyst for a new era of prosperity for the subcontinent. It promises economic transformation for Nigerians today and for generations to come.

Congratulations, @AlikoDangote . Africa is proud of you! …F.Ote💲

https://www.youtube.com/watch?v=pfaYjCfqXHI?si=QUfeAYjlrYGsFB4m

That's a good one. Congrats

Great!

Oya, make we see the impact. Cement and salt prices disappoint us.

Congrats to him, it's truly a gigantic project.

A lot of Nigerians will be employed

Once upon a time when Femi and Dangote had a serious fight over AP

They exposed and rubished themselves, last last they came back together and the story disappeared

Agba yahoo


Friends are freinds

.

I want to see how this will reduce the price of petrol in Nigeria.

Aside from the 650,000 barrels per day it will refine, Dangote’s Petrochemical Plant will also produce 1 million and 3 million metric tones of Polypropylene and Urea Fertilizer respectively for our consumption and export.

BUA’s Akwa Ibom refinery when completed will further drive competition in the downstream oil industry which will benefit the consumers through pricing and availability. Aliko Dangote is truly an industrial collosus, a true African giant.

Patriotic Nigerians are proud of you 🇳🇬

modified:

Chinjo2:
I want to see how this will reduce the price of petrol in Nigeria.

What is not certain, is the extent to which Dangote’s refinery will reduce petrol prices in Nigeria.

What is certain however, is that the laws of economics dictate that a reduced cost of production is likely to reflect in reduced prices.

Our present pump prices are not dictated solely by the international price of crude, but by the landing cost of imported PMS. The components of this landing cost includes product cost, traders and insurance margin, shipping, charges by government agencies, financing & banking charges and storage charges.

You will agree that the elimination of shipping and govt port charges, and a possible reduced product cost in exchange for discounted supply terms or tax incentives, will definitely result in a lower total cost of production and consequently, lower prices at the pump. Some might say Dangote needs to repay loans, pay good wages, pay taxes, maintenance etc. but news flash! The foreign refineries we are currenty importing from also have these overhead costs embedded in their product prices.

Furthermore, with the eventual completion of Abdulsamad Rabiu's 250k bpd BUA refinery in Akwa Ibom, and the Waltersmith 10k bpd modular refinery in Imo among others; we are looking at a combined total capacity of nearly 1m bpd supply of refined petroleum (compared to our current 427.7k bpd/68 million litres daily imported petrol consumption), and the resultant boost in supply is expected to further drive down prices over time.

Other benefits of the refinery include:
- Over 100,000 jobs created
- Saved Forex spent daily on petrol importation (about $23.3 billion annually, reducing demand pressure on USD)
- Adequate local supply of PMS, AGO, DPK & Jet A1 fuels.
- Increased competition in deregulated downstream sector in favor of Nigerians.
- Increase in FG Revenue from earnings from dividends (20% investment in refinery), taxes and other levies.
- Increased Forex liquidity from export earnings
- Adequate local & export supply of Petrochemical feedstock (PPE & PPL ) previously imported with USD by manufacturers, while stimulating manufacturing activities.
- Improved supply of Urea for Fertilizer resulting in improved agriculture and food production.
- PPL, PPE & Fertilizer importation currently costs the FG $3 Billion in Forex, to be eliminated.
- Creation of allied industries and appreciation in real estate value around the refinery.
-Nigeria sheds the embarrassing label and internationally acclaimed, disgraceful paradox of being a major crude oil producer that still imports refined Petrol. My humble two cents.

Chinjo2:
I want to see how this will reduce the price of petrol in Nigeria.

Dangote refinery won't reduce the price of fuel at all.

The man has to pay loans, pay competitive wages so that workers do not japa, pay taxes and pay maintenance and upgrade costs.

Government thanks to years of mismanagement of which tinubu was a part of , has no money for subsidies

I want to see how this reduce the price of petrol... Dangote refinery will not reduce fuel price at all... bla bla bla!. Is something wrong with you people, why must you always be negative over everything, after previously condemning the refinery and calling it a scam, you also never belived it would produce a litre of fuel until 2025, all your evil wishes have backfired. Why can't you people rest and pray to God to bring happiness into your life, bitter souls.

As an IPOBdient, I don't believe the refinery is ready to start refining. The refinery will start refining in 2026 in the mud

The problem of many haters is not the refinery or the benefits it will bring to the Nigerian economy, but their bitterness is that the mega project is owned by a northerner (Hausa Fulani). Even their cries about it not reducing fuel price is not sincere, and they will never acknowledge the many jobs created, energy security, Forex savings, improved product supply and the many other benefits that the refinery brings.

Instead of building their own legacy they are hating meanwhile BUA has almost completed his 250k bpd refinery in Akwa Ibom.

Give Dangote his flowers biko…💐

Putindbutt:
I want to see how this reduce the price of petrol... Dangote refinery will not reduce fuel price at all... bla bla bla!. Is something wrong with you people, why must you always be negative over everything, after previously condemning the refinery and calling it a scam, you also never belived it would produce a litre of fuel until 2025, all your evil wishes have backfired. Why can't you people rest and pray to God to bring happiness into your life, bitter souls.

The price of fuel will not drop. Wake up from your delusion . Crude oil is priced on international price. Dangote refinery was a major investment in dollars with alot of foreign staffs, foreign bank loans and foreign investors.

It can only reduce the price by 50 naira per litre maximum which is the cost per litre in transporting PMS from Europe and Asia to Nigeria.

However, since there is already some subsidy in the current PMS at 600 to 700 naira, dangote refinery won't reduce the price by 1 naira. it will only reduce the cost of give subsidy by about 50 naira .

The technical configuration is top notch. It was built to absolve carbon emissions and recycle heat to generate electricity. Thank you Mr Otedola for this additional information, initially i thought the $20billion was exaggerated but with such advanced tech, it is worth the costs.

Big men friends ...

Them Dey share money ...

My kinda of friends ..

More blessings to them

Naija2023:


The price of fuel will not drop. Wake up from your delusion . Crude oil is priced on international price. Dangote refinery was a major investment in dollars with alot of foreign staffs, foreign bank loans and foreign investors.

It can only reduce the price by 50 naira per litre maximum which is the cost per litre in transporting PMS from Europe and Asia to Nigeria.

However, since there is already some subsidy in the current PMS at 600 to 700 naira, dangote refinery won't reduce the price by 1 naira. it will only reduce the cost of give subsidy by about 50 naira .

k.

Apparently he ought to be congratulating the Nigerian Government.

The cover is blown. All Nigerians now know the man get plenty government support

When I keep ringing the bell on the need for any wise Investor to quickly have a slice of the action around the Dangote Refinery,some people on this platform have called me out and some even insulted me.
But I will keep ringing the bell, Dangote Refinery is a behemoth that will redefine the industrialization of Nigeria.
Imagine having a city with a Sea-port like Apapa in Lagos state,an industrial city like Agbara in Ogun State,and Warri a city with a Refinery all Located in a very small Local Government,you can imagine the industrial explosion that will happen,that's exactly what will happen in the next few years in Ibeju-lekki.
Like Mr Otedola said,the amount of by-product alone will create massive employment opportunities for Nigerians.
I remember some years ago,when a boss of mine introduced me a product called carbon-black,a byproduct of crude oil.
I was asked to source for buyers for the product,i didn't even have an idea of where he got it from or what the product was,until he whispered to me,it was from one of the moribund refineries.
The search for buyers took me all around Lagos and some parts of Ogun state,it was then I knew the India community is a tight knit one in Nigeria,but the story is for another day.
Eventually I got the buyers and the terms of buying the product changed,my buyers were told to pay in advance for the product cos production was fully booked for the next 3 months so management decided buyers must begin to pay in Advance.
Carbon black is one of the many byproduct of crude oil, I'm sure many factories will definitely take advantage of the raw materials from the Dangote Refinery to open their industries.
Don't listen to the Naysayers and wailers,at least have an investment in landed properties around the Refinery,I'm sure you won't regret.
Check my signature for more details.
God bless Nigeria.

Femi Otedola FO

Ikinternational:
Apparently he ought to be congratulating the Nigerian Government.

The cover is blown. All Nigerians now know the man get plenty government support

False.

The FG’s investment in the refinery is a mere, minority, non-controlling 20%, which will also earn good dividends for the FG from Dangote (alongside being the main supplier of his crude) which makes it a smart business/investment decision by NNPCL/FG.

Refinery that will not create value to any Nigeria. Refinery that will still sell at international market price. Very bad, how is Man so unkind to Mankind?

QuotaSystem:


False.

The FG’s investment in the refinery is a mere, minority, non-controlling 20%, which will also earn good dividends for the FG from Dangote (alongside being the main supplier of his crude) which makes it a smart business/investment decision by NNPCL/FG.

You have the energy to be explaining to haters. They don't want the Government to support Dangote but they want Government to be supporting Innoson and buy his vehicles for all MDAs, including the National Assembly. When Government support their own, it is patriotism but when Government support others, they call it favoritism. ignore them.

nairalanda1:


Dangote refinery won't reduce the price of fuel at all.

The man has to pay loans, pay competitive wages so that workers do not japa, pay taxes and pay maintenance and upgrade costs.

Government thanks to years of mismanagement of which tinubu was a part of , has no money for subsidies

stop the scamming... How did tinubu also part of it...

Same tinubu brought dangote to invest in LAGOS...

Mumu man .. I knew u are not happy because of nigeria progress

walefresh3:
stop the scamming... How did tinubu also part of it...

Same tinubu brought dangote to invest in LAGOS...

Mumu man .. I knew u are not happy because of nigeria progress

Ol boy, you can call me enemy of progress, or whatever...but Dangote refinery is not going to reduce fuel price.

The only reduction experts are predicting is by N70. ..which is shipping cost. EVEN then, Dangote has all sorts of associated costs with the refinery. The price is going to be as high as N1000. It can never be below N300 unless you want the thing to break down and be destroyed like the others.

Your man tinubu is in the meantime wasting money on cars and jamboree, instead of diversifying our export base, which would bring in more dollars, and reduce prices. He also is not facing corruption squarely. Better tell HIM to do so.

Chinjo2:
I want to see how this will reduce the price of petrol in Nigeria.

Trust me, it will have effects on more things than just the price of petrol.
This is a giant petrochemical complex, some other products we currently import will be produced there. This is the way to go, gradually we will get there.

walefresh3:
stop the scamming... How did tinubu also part of it...

Same tinubu brought dangote to invest in LAGOS...

Mumu man .. I knew u are not happy because of nigeria progress

You dey mind them, good news is like bitterleaf water in their mouth. If not for Tinubu, maybe Dangote would have relocated abroad, you know that some of our businessmen have refineries abroad, that's why they won't fix our refineries but now they are in panic.

Lol. Which completion? My friend that knows someone, that knows someone, that knows someone, that works there, told me the refinery won't be completed until 2031....in the mud

Naija2023:


The price of fuel will not drop. Wake up from your delusion . Crude oil is priced on international price. Dangote refinery was a major investment in dollars with alot of foreign staffs, foreign bank loans and foreign investors.

It can only reduce the price by 50 naira per litre maximum which is the cost per litre in transporting PMS from Europe and Asia to Nigeria.

However, since there is already some subsidy in the current PMS at 600 to 700 naira, dangote refinery won't reduce the price by 1 naira. it will only reduce the cost of give subsidy by about 50 naira .

You said this elsewhere and I explained as follows to you...

10mobile:
One reason refining oil at home will have advantages is that the additional cost for importing other by-products as well as the profit margin accruing to the foreign sellers, will be saved. The 50 Naira you mentioned for transportation might apply just to PMS. So, what about AGO, kerosene, bitumen, wax, lubricating oil, and the other by products from the lump.

According to the US Energy Department, these by products make the production of up to 6,000 products possible. Nigeria will gain the forex for all these if we refine crude oil in Nigeria even by foreign companies.

So, what for are you insisting on this negative campaign? Let's learn to support Nigerians doing well no matter their tribes, religion, etc. Only this way can we progress.

Real development no be by coke

immortalcrown:
Great!

Oya, make we see the impact.

the impact is the main thing joor....

See Men

Omo! And I was planning on selling my land at ibeju lekki. Be like sey I go change my mind and watch how it appreciates in the next ten years