Don't get your hopes too high. That man is a businessman and He puts profit first b4 any other thing.

He might be the reason why marketers wanted to put price in PMS about 2 weeks ago.

He is waiting for price to hit 1200 so that He will bring it down to 1k.

Northernblood8:
Don't get your hopes too high. That man is a businessman and He puts profit first b4 any other thing.

He might be the reason why marketers wanted to put price in PMS about 2 weeks ago.

He is waiting for price to hit 1200 so that He will bring it down to 1k.

richie240:
Nigeria has a population of close to 300 million.
Son of man has 'started with jet-fuel and diesel', you too start ur own with petrol and propane gas, e nor reach fight.

My ppl say "na cooperation dey make rice full pot."

Everything mustn't be about Ph.d (pull him down)

Northernblood8:


You for give me access to all the loot Dangote has

richie240:
No problem, once you tell me the political position he has held in nigeria (ward chairman/local government chairman, governor, president etc) then we can go into the money he 'looted'.

If not, u r just another irrational obidient who sees no good in others while at eulogizing his own.

Pussyisgud:


Oga keep the word obedient out of your mouth before i swear for you.

happney65:
When will he start doing propane Gas na wetin I want to know be that

jmoore:
The refinery is not complete na. It can't produce pms for now.
Make una stop this propaganda. .

Northernblood8:


You for give me access to all the loot Dangote has

eteebanky1:
Why don't you build your own refinery and start selling fuel less than #200

Northernblood8:


You for give me access to all the loot Dangote has

Northernblood8:


If government give me the same access to receive loots like Dangote

nairalanda1:


At the end of the day, Dangote got no money from government (save a CBN loan, which wasn't the majority of the funding).

Most of his funds came in the form of loans from a consortium of banks...local and international, as well as the African development bank. Then there was the CBN money, which he claims to have paid back.

No politican or government lent him looted money. Infact, there is no looted money to give. Most looted money goes to the federal treasury for budgets , or is shared among state governments as extra allawee. That government would give loots to one private man, even in this our useless Nigeria is not possible.

Northernblood8:


If government give me the same access to receive loots like Dangote

Northernblood8:
As a black man that is easily deceived, I will just allow u to keep believing what you have been told

The Dangote oil refinery is being funded with $3bn equity and $6bn loan capital. A consortium of local and international banks led by the Standard Chartered Bank provided a $3.3bn loan facility.

The United States Trade and Development Agency offered a N251.3bn ($0.997m) training grant to develop human resources for operating the refinery.

Northernblood8:
....

nairalanda1:


Part 2 of my comment is here , because this needs emphasis

About 60 LICENCES for refineries were given out. Most of them have not been taken up because the subsidy government over the years has kept on petrol, means that anyone willing to set up a refinery would have difficulty getting loans from banks, because banks see subsidy on petrol as a risk for them

Dangote got loans partly because GEJ government helped him make his case to AfDB, and also partly because if he does not pay back, the banks who gave him loans will just simply take over his lucrative businesses and pay them back. Or AMCON will just simply take over the businesses he has, pay the banks back and sell them off. Even then for the thing to make money, subsidy on petrol has to go...so that petrol would be sold at aprofit, and so that at the end of the day, banks would be willing to lend to anyone interested in competing with Dangote.


BUA is building a refinery, but he is smartly planning not to refine anything petrol. So, profits are guaranteed, and banks would lend to him.

When government over the decades, PDP, APC, millitary say that subsidy should go, it is because petrol being sold at a profit means it is far more attractive to refine at home than to import. The problem with refining is that there is an inbuilt loss from waste product from the refining process. To minimize loss, all the products from the refinery must be sold profitably.....which is what subsidy prevents from happening.

But people like you said no whenever government calls for subsidy removal.

RepoMan007:
You argument always. Only NNPCL import of petrol is stopping petrol from being attractive to refiners and marketers.

omowolewa:
No, it's easier to produce Diesel and JetFuel than PMS

nairalanda1:


If you were Dangote, you won't sell petrol at N200 to help the masses.

You have to pay back loans, pay workers competitive salaries, pay for maintenance, pay taxes, and pay for the crude, in the naira equivalent of whatever the OPEC price is.

All that adds up. The optimists are saying probably N500 and above. I think it should be N1200 or more self.

Why, because that is the way business works. Your workers want to be paid big salary, your suppliers want to be paid on time, and your creditors are waiting.

Unless you want every Nigerian to pay a 50% tax rate to fund subsides...including people in the village and in the lower incomes.