Almost 3000 trucks loading petroleum products daily on these Lagos roads we are managing😩. Those trucks must be made to load and move at night only.

tunwumi:
Approved



He can't crash anything. If he will do anything the price will be higher than the imported self.

The only way he can bring down price is if Nigeria is giving him free crude oil to refine.

You don't need any specialist to analyze this, check the price of crude and covert it to naira, divide it by 157 (liters in a barrel) then you get then price.

He has been sourcing his crude from international market.

This your analysis did not add up at all
After cracking the crude oil to become diesel ,premium motor spirit ,aviation fuel ,kerosene and others.
The volume of the output will definitely expand it can be 157 as you mentioned

Dey play. Dangote the most wayo man i have ever seen

Dialpad:
So long as we no longer have to use foreign currency to acquire petroleum products, it's fine

In the midst of so many uninformed comments, yours is one of the rare ones that makes sense. And in very few words too.

Una never get the approval already ☹️

Randerl:
Believe this production at your own f..Ily. Production is yet to kick off. This is a project that was commissioned last May.

They said products will be in the market by July, then August and again october. No single drop made it to the market.

The Company said it will be in the market this month. Now they are seeking regulatory approval despite No production test run before december 2023. Expected the products in the market between February and June 2024.

How are we sure those are not imported products stored for resale. Anything goes in Nigeria.

You and the 12 idiots and others that liked your comments are sick in the head sha 😀

DMerciful:
Out of the $20billion, fg invested about $3 billion cash and crude so what approval are they seeking as if fg is not part owner?

We should stop playing to the gallery

You don’t do things like that in business works. This is a thing that can affect a country, positively or negatively.

It has to be approved and be on government’s records before he can start selling.

All is just formality but that’s how it has to go.

harjay1986:


This is the kind of internal investment that can be subsidies for Nigerian just like in Saudi, because we don't need dollar to subsidize the product through dangote, Naira will be the mode of transaction my fear now is we the citizen some people will see the gesture as a way to make money outside the country by smuggling

I like your suggestion very well.
If Tinubu wants to crash the price, he can subsidize 50% of the DANGOTE fuel with Naira for Nigerians and the price could come back to something like N250 per liter.
This would mean we won’t be looking for dollar to defend Naira again because there is no more fuel importation.

Joker

Paraman:










I can bet my money you're all from the south eastern part of Nigeria.

Anguldi:
Joker

Are you from Abia, Anambra, Enugu, Ebonyi or Imo?

Children of hate will not be happy over this .

Some people will still be sad about this man

Crucialgem:


Go and confirm yourself now, how can you just be sitting down and the corner of your house and be typing nonsense without verifying your nonsense claim, enter bus to epe road and confirm if the refinery have started or not. Nonsense

Lol. Nigerians always like to brag on internet and argue in their home compound, they don't like to do anything more than that but they will want one error to go out there and do it for them. Very funny people

BarrElChapo:


You and the 12 idiots and others that liked your comments are sick in the head sha 😀

Never say such things because if at the end the person is correct then you will be the idiot. Stop throwing insult at people online and make correction when needed and make your own positive comment

tunwumi:
Approved



He can't crash anything. If he will do anything the price will be higher than the imported self.

The only way he can bring down price is if Nigeria is giving him free crude oil to refine.

You don't need any specialist to analyze this, check the price of crude and covert it to naira, divide it by 157 (liters in a barrel) then you get then price.

He has been sourcing his crude from international market.

so what’s the essence of dangote refinery we have been shouting about if it won’t bring an end to some of these calamities?

justtoodark:


a south easterner didnt even knew how many liters of crude is in a barrel....

those people just japp without facts....
he was sayin nigeria should only concentrate on gettin everything only with crude....

very annoyin people them....

anyways back to topic....
if nnpc has shares of dangote refinery and deliver crude to dangote for free,then nnpc still profit....

in a way its still sometype of subsidy....
nothing wrong with this practice....

south korea subsidys south korean companies alot....

It’s not a subsidy, supplying crude to Dangote. FG (NNPC) is not selling/supplying crude for free to Dangote.

The supply cannot be called inter-company transaction, (in accounting) either, which would be ‘nilled’ off (canceled out) when preparing consolidated group account.

FG’s investment in DANGOTE is just a simple investment (in DANGOTE) in the books of our Federal Government - except if the FG’s intension is to gain CONTROL (above 50% stake in DANGOTE) or exercise SIGNIFICANT INFLUENCE (up to 49% stake in DANGOTE) later.

FG (NNPCL) will record the crude shipped to DANGOTE as sales in its books.

Dangote will record it as purchases of stocks (raw materials) in its books.

At the end of the year when FG is paid by DANGOTE from the profit DANGOTE would have made, FG will record any dividend received from DANGOTE as other income or whatever name it wants to call it.

DANGOTE will record whatever it pays/paid FG as dividend paid/payable after deducting withholding tax and he is still going to pay the withholding tax he could have deducted back to Lagos State where the refinery is.

DANGOTE would be paying monthly withholding taxes to Lagos State government on CHARGEABLE SUPPLIES made to it by vendors who are outside the Free Trade Zone (FTZ).

Where Dangote could have taken delivery of those crude and not have paid for it is if FG is using the crude as all or part of its value of (20%) stocks held in Dangote.
In this case, FG would record all crude that can cover the value of of investment in DANGOTE as SIMPLE INVESTMENT, while DANGOTE would record the receipt of such crude as EQUITY.

It is after the FG has finished sending the crude to be swapped for cash (as investment) to Dangote that Dangote will then start recording any subsequent crude receipts from FG as STOCK (of raw materials), which he would have to pay when invoice is sent to Dangote by FG.

Note: It is ONLY companies established within the FTZ that would not pay state taxes to Lagos State.

Companies (established outside FTZ) supplying things to companies within the FTZ will pay appropriate taxes to their respective tax jurisdictions on all chargeable supplies (this would be used to reduce overall tax payables at the end of the year).

Our tax experts would understand this better because it is a little bit interwoven but not complex. Tax experts in the house can also shed more light on this and correct me where I could have gone wrong because the law for don change.

ericmor:


Never say such things because if at the end the person is correct then you will be the idiot. Stop throwing insult at people online and make correction when needed and make your own positive comment

He's definitely wrong on this one but I'll take the correction 🙏🏾

Paraman:










I can bet my money you're all from the south eastern part of Nigeria.

And you'll loose your money.

Administration1:
Hopefully the cabal doesn't sabotage this

Which cabal? Dangote and Co is the cabal, Dangote that wants to sell fuel for 1200 naira a liter.

tunwumi:
Approved



He can't crash anything. If he will do anything the price will be higher than the imported self.

The only way he can bring down price is if Nigeria is giving him free crude oil to refine.

You don't need any specialist to analyze this, check the price of crude and covert it to naira, divide it by 157 (liters in a barrel) then you get then price.

He has been sourcing his crude from international market.

Which crude did he source from international market? Which market? Una yimu well well for this forum sha,the way you people just choose to remain blind and dumb to how things really work is amazing.

Bobloco:


Which of the cabal

Subsidy cabal or presidential cabal

Cabal don get branches 😳

Approval for the petroleum products to enter the nigeria market... please federal government approve it immediately...and Dangote produce fuel immediately...it will reduce the hardship nigerians are facing concerning the removal of fuel subsidy

1 bbl = 159litr

tunwumi:
Approved



He can't crash anything. If he will do anything the price will be higher than the imported self.

The only way he can bring down price is if Nigeria is giving him free crude oil to refine.

You don't need any specialist to analyze this, check the price of crude and covert it to naira, divide it by 157 (liters in a barrel) then you get then price.

He has been sourcing his crude from international market.

Approved, go ahead

TopBanter:


Lol. You sadists and doom mongers are something else. Totally obsessed with gleefully and tediously predicting failure of everything in advance , day in day out, to the extent you cannot appreciate what you have become.

You cannot win at life because life, due to your negative nature, has surely passed folks like you by. 100% sure of that.

bro, quit all this nonsense talk.
There is something called trend, or statistics if you are smart enough to know, but I think you are not.

His predictions or beliefs are irrelevant in the outcome of governance ,if your government does the right thing.

He is only talking based on trends and statistics.

Wishful/ positive thinking doesn’t put the country on the right path.
Stop gaslighting people.
Be positive, let your positivity change the country and allow others think what they want to think.

DMerciful:
Out of the $20billion, fg invested about $3 billion cash and crude so what approval are they seeking as if FG is not part owner?

We should stop playing to the gallery

It is a regulated business.

AqualinaXYZ:



Never believe till you see fuel





I’m too Nigerian to believe what’s written on paper and internet




Let alone believing a tenure of a thief who hired fake bishops

lol you believe he hired fake bishop without concrete proof but you are struggling to believe a refinery that is not owned by the government and has a location you can go to verify things yourself.

Oya rate your own brain on the scale of 1-10

tunwumi:
Approved



He can't crash anything. If he will do anything the price will be higher than the imported self.

The only way he can bring down price is if Nigeria is giving him free crude oil to refine.

You don't need any specialist to analyze this, check the price of crude and covert it to naira, divide it by 157 (liters in a barrel) then you get then price.

He has been sourcing his crude from international market.

Sourcing from international market Ke... I thought NNPC supplied him the 6million barrels or so

AqualinaXYZ:



Never believe till you see fuel





I’m too Nigerian to believe what’s written on paper and internet




Let alone believing a tenure of a thief who hired fake bishops

cry cry baby ... I want to see your sad cry in the next progressive thread....