numericalguy:



Why do IPOB cannibals make unrealistic expectations like this.


Would you sell fuel at 200 per litter if you were Dangote?

Did I insult you?

Good evening.

ebenholer2:
I will advice president TINUBU to remove that northern man Kyale as NNPC MD cos they may end up crippling the functionality of state owned refinery inorder to favour Dangote so as to monopolize production.
TINUBU should better beware of the North intent.

Abeg goan sit down with your divisive rants.


Kyari will not betray Tinubu

Northerners are loyal folks

Which refinary abeg ?no be the same one I dey so? My pple in the next 5yrs this refinary no go ready ooo,... Come and see for yourself. Forget social media ooo

QuotaSystem:
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:


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.

You did well in this your writeup... come take one bottle of Heineken for my head.

QuotaSystem:
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:


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.

Good

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

it will strengthen naira only

Billion-dollars gang. Hope to be in that company someday

The men them!!!

Odin13:
Big men friends ...

Them Dey share money ...

My kinda of friends ..

More blessings to them

idiot with phone

Dangote didn’t spend a penny from money to build that refinery..

QuotaSystem:


Dangote got the finance facility for his refinery from a consortium of 12 banks and not from the federal government.

https://www.premiumtimesng.com/business/144169-dangote-seals-n528bn-loan-deal-12-banks-refinery-petrochemical-project.html?tztc=1

FG’s stake is only 20% (1/5).

Why will FG have a stake over n a private enterprise?
Why will FG have a stake in a private enterprise when their entity in same industry is moribund?
Why did these bank not lend FG money to revamp their dead refineries?
Have you bothered to know who owns these banks?

immortalcrown:
Great!

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

cement and salt should be sold at 10 naira right?

How many times would Femi congratulate Aliko for completing this refinery? How many times has the refinery been completed? 2, 3 or 4.

Let this refinery breath and start producing, abeg. Our things are always over hyped with little to show in the long run.

QuotaSystem:
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:


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.

Hahahahaha,The guy asked a simple question and you are running around the post and can't answer straight, Dangote on his own won't be willing to drive down the price of petrol or diesel without huge tax benefits which from what I am hearing will not happen,he is a greedy thief who won't even have this refinery if not for the nnpcl and the federal government,so it is that leverage that the F.G would press on him to ensure that the prices come down by at least 150 or so and when the other modulars and BUA have been completed,then the real price slashing would start, Dangote would prefer to sell to neighboring countries at a far higher price than to sell in Nigeria at even 700 per liter,dude have played you all for a long time and finally the scales would fall of the eyes of Nigeria and Nigerians when the monumental corruption that Dangote and nnpcl covered up in this refinery would be uncovered.

Bliss52:




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

.

Otedola invested heavily in this project no be small

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

Arindin

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.

Their mind no go touch ground se... They will all die of hate, naso one useless girl here called Nigeria shameful but thing she called Nigeria shameful for , she said herself killed someone in the useless... I was like this one will soon run madt

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 .

Other benefits dey abeg ...

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

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

So Elon musk and Jeff no get government support .. it's normal for top business guys in every nation... Imagine if Dangote or bua get problem ... You think say e no go reach you too .... Big employers na you wan give those wey lost their job work bah... Know your level abeg and stop hating

jkpbestseries:
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?

Na ghost them go employ ... Oponu

Putindbutt:

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.

Very useless tribe ... Make government no support highest employer ... People wey dey ment

ElSudani:


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.

Person wey no get sense

jrusky:
See money men dressed so simple whereas sme mofos empty barrels will come to social media and say I bought my face cap N20m or bought my gown N180m but when ask to pay N2m annual tax they owed then turned it on Sanwo Olu and Tinubu and started shouting Sanwo Olu must go.

Lolzzzz ... Awon werey... Na beg most of them dey later beg for medical treatment when them don blow the little they earned living rough life ... Okanwononibale

Ikaeniyan0:
As an IPOBdient, I don't believe the refinery is ready to start refining. The refinery will start refining in 2026 in the mud

Oooooooh Ipobdient

How many times will the refinery be completed?

For context, that small etched out place is the almighty Lekki Deep seaport, which is one of the largest in Africa. The industrial behemoth behind is the Dangote refinery, which have been on the works for a decade! 😳😎

Fearyourcreator:

So Elon musk and Jeff no get government support .. it's normal for top business guys in every nation... Imagine if Dangote or bua get problem ... You think say e no go reach you too .... Big employers na you wan give those wey lost their job work bah... Know your level abeg and stop hating

Look at the ant that's telling me know my level
Literally laugh out loud

Tell me exactly what the US gov is doing for Elon n Jeff . Don't talk in vagueness

With all your knowledge of America. I go learn work

*eye roll

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.

So your point is the guy that borrowed me 20% to complete my building didn't really help me?
Copy that

Ikinternational:


Look at the ant that's telling me know my level
Literally laugh out loud

Tell me exactly what the US gov is doing for Elon n Jeff . Don't talk in vagueness

With all your knowledge of America. I go learn work

*eye roll

You IK na...

Reason why Otedola left petroleum for power and energy. Dangote is a bad monopolist. He has fought almost everyone who does same business with him... Fought Into (Cement), Oba Otudeko (for airport cargo terminal), Otedola (for petroleum), Duffils (indomie), BUA (cement and other interests)...

Bliss52:




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

.