Dobodobo04:


Not entirely true.

If Dangote buys Nigeria’s crude at market rate, he refines the crude, sell to Nigerians at competitive rate in Naira, sell to international market also at competitive rate and hopefully make profit from both local and international market to pay off his debt and keep the refinery operating.

If he sells to the Nigerian market in Naira, which he should do by law, there would be less burden on forex.

Don’t forget that some of the crude derivatives have bigger demand overseas than in Nigeria, so he should be able to attract forex with ease in the overseas market.

Only way there could be a problem is if he has no money to buy crude.
As long as he buys his crude in Naira equivalent of a USD/barrel and sells to Nigeria in Naira , no issue.

Also, we avoid Dollar/Naira volatility. If Dangote buys let’s say 600,000 barrels from Nigeria a day from now for the whole year

600,000 x 366 x (78 Dollar/b *800 exc rate)=

Approx N15 trillion Naira stays in Nigeria. Which can be used to fund half of our budget a year.

Also, that’s N15 trillion naira staying in Nigeria. Imagine the multiplier effects on the economy!!

A lot of people just quote things online out of ignorance. Who told you Crude oil was sold to Dangote in Naira. I have seen the Guarantee for the crude oil sold to Dangote by Shell while you haven't and the Crude was denominated in USD which is the standard for Crude purchase worldwide and the sale would be repaid fully in 6 months upon sale of the by products.
How will Dangote pay for his Crude supply in USD if he sells in NGN that loses value daily. Also you mentioned that Dangote is obliged to sell in NGN by law and I laughed at your ignorance. A lot of you don't know what is called a free trade zone and you can Google it. A free trade zone is another country within a country, Dangote is operating from a FTZ and Nigerian laws do not apply to him.
The only way Dangote will sell to the Nigerian market is if NNPC specially give him a local consumption quota of crude and even that model as stated earlier means less FX earninf for Nigeria for her crude oil since FX revenue is an alternative forgone.

Paraman:
Dangote that owns the refinery has thanked Tinubu a lot of time because he was one of the people that made this refinery possible. But bitter and fraustrated people like you will be saying shit online

I don't waste my energy on fools like you, aside investing some of his looted public funds in the project, if I may ask, in what ways did Tinubu contribute to a refinery that was built and commissionef even before he was rigged into office? The so called port Harcourt refinery that the cocaine trafficker promised to renovate and put to use before December is still in comatose. go and read your books exams is coming up soon.

ManirBK:


https://leadership.ng/breaking-dangote-refinery-begins-operations/

Good news

slimthugchimee2:


Forex savings
Employment
Removing government from running businesses in Nigeria
Progress and growth around that location that will also create indirect employment

So I now ask you
What have you done to add value to me or Nigeria?

The major points I might consider here is employment and the indirect employment, the rest might not really work....

And for your question about adding value, I am a farmer in commercial scale....

ManirBK:
Good news
No bad mouth abeg!

God bless Tinubu

I have to withdraw my like immediately I saw that. God can't bless a criminal and a drug lord, Amen.

eliyke:
Hope it's true, atleast dollar go rest small

bc na naira dangote take buy am about?

slimthugchimee2:


God bless capitalism

Anything with govt hands always turns to nonsense

Govt shouldn't be running businesses, they should use all that money to fix the basic amenities for business to thrive

That is
Good transport
Power
Security
Etc

Thank You!

Paraman:
They will be starting with diesel, kerosene and jet fuel this month, in February they will start producing fuel.

Since I read about the refinery they never mentioned pms so if this development came of recent maybe they have changed there mind for some reason

Phantom233:

I don't waste my energy on fools like you, aside investing some of his looted public funds in the project, if I may ask, in what ways did Tinubu contribute to a refinery that was built and commissionef even before he was rigged into office? The so called port Harcourt refinery that the cocaine trafficker promised to renovate and put to use before December is still in comatose. go and read your books exams is coming up soon.

Lol... I know you're in lots of pains


Dangote himself thanked Tinubu before he even became the president, a fraustrated lowlife like you can keep on wailing on nairaland because of how fraustrated you are.

Jonathan spent 6 years in power, Buhari and Obasanjo spent 8 years in power each, they should have gotten the PH refinery working if it's that easy.

The PH refinery is ready for operation and presently going through a test run, if you can't wait for the test run to be over, it's your palava.

kokoA:
If I'm buying petrol for 650naira and I know it's being produced in Nigeria I wouldn't mind.

Nice... Make our currency appreciate well well

Wainey:
Na every weekend Dangote refinery deh start operation?

I don hear this news like 16times na

And you will keep hearing it... If e dey vex you leave Nigeria

Brendaniel:


And what would that benefit you?

What would you benefit from bad news about Nigeria ... Evil people

Funkyswagzz:


Since I read about the refinery they never mentioned pms so if this development came of recent maybe they have changed there mind for some reason

Maybe you haven't really being following news about the refinery. The refinery will also produce fuel.

Fearyourcreator:

What would you benefit from bad news about Nigeria ... Evil people

And what will you benefit from propaganda and falsehood against Nigerians?

Eagle360:
in a saner clime that pressure on dollars will reduce as you rightly said but in Nigeria . Nigerians factor over rule any theory of economics.

It's everywhere, American and British are complaining of inflation and wages increments to succour it... The reality is, it will about hyperinflation... Hence, what were facing, others are facing in another angle.

Paraman:
Maybe you haven't really being following news about the refinery. The refinery will also produce fuel.

Like I told you it should be a recent development

Brendaniel:


And what will you benefit from propaganda and falsehood against Nigerians?

Which prop... So you know you like bad news about Nigeria... Na God go punish all of una...

coputa:
Apart from oil, Nigeria import other products

How much do they spend in other imports compared to petroleum products...
We are talking about the percentage spending not actual amount.

Fearyourcreator:

Which prop... So you know you like bad news about Nigeria... Na God go punish all of una...

Which bad news, we hate propaganda Oga, the question what is the benefit of Dangote refinery to me, if I am not profiting directly from it or buying fuel at a lower rate?

Brendaniel:


Which bad news, we hate propaganda Oga, the question what is the benefit of Dangote refinery to me, if I am not profiting directly from it or buying fuel at a lower rate?

Sebi na you build or get investments there to profit their directly... Why you family no vex build refinery... People wey Sabi benefits understands ...

Dee60:


It may be the opposite. Crude for that refinery was imported. PMS price may be raised to N900 or more per litre to allow this refinery to make some profits. Otherwise, Dangote will export its products, which is not bad. It will boost Nigeria's dollar earnings a bit.

Imported crude? Nnpc supplied the crude from Niger delta

Funkyswagzz:


Like I told you it should be a recent development

Everybody following the Dangote refinery news since the days Dangote wanted to build it in Olokola FTZ knows it will produce fuel

This article below was written in May 2023

https://www.google.com/amp/s/africa.businessinsider.com/local/lifestyle/5-interesting-facts-about-dangotes-new-oil-refinery/585712t.amp

I'm trying to get articles written in 2018, 2019,2020 about the refineries, but it's not been easy.

Fearyourcreator:

Sebi na you build or get investments there to profit their directly... Why you family no vex build refinery... People wey Sabi benefits understands ...

So wetin come be your benefit untop Dangote refinery wey you dey happy for?

datola:
Congratulations to the Dangote Team!

Even if petrol price does not crash, it is still a big win for Nigeria. As in... the value this big project will bring to the economy is enormous.

Congratulations Nigeria!

If the Price of PMS doesn't crash ,then what will be the essence of the Local Production..
And what's the long term effect on Nigerians?

Sometimes we just think slavery mentality...

How can you have borehole fresh water in your own compound as Landlord and your Water is the most expensive in your Street..
because sey na Nepa light you take pump water...



We should always think on how to Make Life better and habitable.. not enslavement and selfishness... Like Betta Edu and others...

Fearyourcreator:

Sebi na you build or get investments there to profit their directly... Why you family no vex build refinery... People wey Sabi benefits understands ...

Na our Tax payer money dangote borrow build refinery...

There is a Top secret deal between NNPCL and Dangote refinery.... No one will review to you guys...

Didijiji:
The year has started well with Tinubu

From Betta Edu suspension to improved power to uninfluenced Supreme Court judgements to the sack of fraudulent bank executives.

If Only Buhari did some of these things

Weldon Asiwaju.

This is just the beginning. Please give us more

Good governance is what we want no matter who offers it

Keep fooling yourself

kokoA:
If I'm buying petrol for 650naira and I know it's being produced in Nigeria I wouldn't mind.

so what then is the essence of producing it in Nigeria?

A commodity we have in abundance? Will you be happy it was Buhari in power and Nigeria and Dangote refinery is up and running, yet fuel is 650?

fitinwell:


Na our Tax payer money dangote borrow build refinery...

There is a Top secret deal between NNPCL and Dangote refinery.... No one will review to you guys...

So the richest blackman in the world borrowed the whole money to do a $19b project... Okay na

Brendaniel:


So wetin come be your benefit untop Dangote refinery wey you dey happy for?

So I should be sad say Dangote build refinery... Oloriburuku ni e walai

Paraman:
Everybody following the Dangote refinery news since the days Dangote wanted to build it in Olokola FTZ knows it will produce fuel

This article below was written in May 2023

https://www.google.com/amp/s/africa.businessinsider.com/local/lifestyle/5-interesting-facts-about-dangotes-new-oil-refinery/585712t.amp

I'm trying to get articles written in 2018, 2019,2020 about the refineries, but it's not been easy.

You can't get anything it cos this development was of recent I knew about this refinery since 2014 when he wanted to build it at ondo state. You can't tell me what I already know

Fearyourcreator:

So I should be sad say Dangote build refinery... Oloriburuku ni e walai

I never said you should be sad, I am only asking for your benefit?

Will it reduce the price of petrol? Dangote met elephant cement, immediately the price of cement went up, he started producing indomie, indomie price went up, everything Dangote mer in Nigeria, the prices will go up x2, if the price of petrol won't be reduce by this news, it means nothing to Nigerians, it's news to those who have invested in the business. They only used Nigerians to pressure Dangote to fast track the process so they can start getting their rewards