what happens to our own crude oil?inferior or not enough quantity to supply dangote or disagreement in price or some hankypanky?

10mobile:
Hmmm! I've always seen selling crude as bad economic practice by helpless countries that can't refine or with low refining capacity. That's because no amount seems justifiable for the numerous crude by-products sold away. So, I'm surprised US also sells crude.

No no no, not true. Even if it's only the employment that the refinery would provide, it's an advantage. No one should think that Dang's refinery is an economic magic wand that will suddenly wave off all our economic woes. But it's certainly not a disadvantage.

After all, we're already import-dependent. So, importing crude isn't what will put more pressure on the Naira. Rather, when we refine in Nigeria, we have all the by-products for local use and re-export which would help us recover any loss in forex due to import.

The situation in Nigeria is really bad. But it's certainly not all bad. Of course, it's never all bad anywhere. As we keep the government on its toes, let's also try to see the silver linings for the sake of our sanity as a people. Thanks.

covering your problem with blanket won't make it go away, why can't we give all our crude to dangote he refine and sell to us the same money he use to buy from USA he will use it to buy Nigeria, we use to sell crude yo the USA they store for future use now they have enough and they will be selling back to us at higher price, we black people have no sense

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

So, who else do you except him to work for?

one man should not own a refinery

This country is gone to the dogs

Nibo la tun ba yara ja bayi o

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

How is he working for his own pocket in this regard?

DANGOTE

One of NIGERIA


Problem

humility33:


But Nigeria produces 1.7M barrels of crude per day.. why can't he just use nigeria crude

The refinery has been refining Nigerian crude for almost 2 weeks now but the portion to refine other crude is redundant.

Government should just increase minimum wage.our currency is now as useless and CFa and that of other African countries.A cleaner should be earning like 200k a month a barber should be paid about 4k for hair cut to reflect the standard of our currency.That is what is obtainable in other African countries.

Northernblood7:



[b]

Shame on you Dangote needs 650k barrels only. Don't say what nobody said. You are the one saying all crude should be given to dangote not me

https://punchng.com/oil-production-now-1-7-million-barrels-daily-says-fg

This Funky Arboki just dey do business for our head.

Government Pikin.

[quote author=10mobile post=128187871]Hmmm! I've always seen selling crude as bad economic practice by helpless countries that can't refine or with low refining capacity. That's because no amount seems justifiable for the numerous crude by-products sold away. So, I'm surprised US also sells crude.

No no no, not true. Even if it's only the employment that the refinery would provide, it's an advantage. No one should think that Dang's refinery is an economic magic wand that will suddenly wave off all our economic woes. But it's certainly not a disadvantage.

After all, we're already import-dependent. So, importing crude isn't what will put more pressure on the Naira. Rather, when we refine in Nigeria, we have all the by-products for local use and re-export which would help us recover any loss in forex due to import.

The situation in Nigeria is really bad. But it's certainly not all bad. Of course, it's never all bad anywhere. As we keep the government on its toes, let's also try to see the silver linings for the sake of our sanity as a people. Thanks.

Even when there's NO SILVER LINING, we all should PRETEND FOR OUR SANITY..he says!!.

Pray tell, is it not the goal of any great economy to FIRST BE SELF SUFFICIENT before any EXPORT?.
NOW, where is that domestic quota alloted to our local Refineries in the past that NNPCL has been using to swap for fuel?... otilor?.
We go know THE TRUTH SOONEST!!
OSHI!!!.
Olé!!!
Barawo!!!.

Pennywise2:
I believenow the person who said that dangote will not give us anything. That it's only media buying he is using to deceive the people. He isnt building or keeping anything for us. Just media stunts. It's been months now

It's getting clearer.

Are you a relative of dangote that he will give u something?
If u want petroleum products go n buy at his rate, if he says he want dollar, pay him in dollars. If u can’t do that then someone else will.
He’s a business man, not a charity

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

Should he work for your pocket?
If u were a business man, will u work for dangote pocket

TimeManager:
Can we try and be reasonable for once, everything shouldn't go by wailing and all that. What's our production per month?, we currently on 1.7mbp, do you expect we offload all our production to Dangote without selling abroad to earn FX?. Dangote and other refineries coming up would have to source crude from various buyers to augument the supply from NNPCL.
Dangote refinery requires 6million feedstock of crude oil to start production.
NNPCL does not have 6million supplies to give Dangote.

-kiss the truth!






FFX

. How is your brain functioning? Dangote needs only 650kbpd.

Available9:


More than 50% of our forex goes to this man, and when he export his products, he uses the revenue to buy raw materials directly from the country buying his products...we are talking real economics here, not sentiments

You're still talking sentiments. Firstly, the 50% forex figure is imaginary. Until recently the government gave forex to companies that needed to bring tooling and equipment from abroad, and Dangote is not the only beneficiary. It's to encourage local manufacturing and job creation. Also, a lot of Dangote refinery's cost is funded with foreign loans and investments from outsiders. The stake the Federal Government has through the NNPC is on the promise of crude oil supplies amounting to some millions of barrels of crude supply.
Nigeria has pledged a lot of its current crude production in forex forwards. That means that if we're producing say a million barrels a day we essentially only have access to say 700k barrels because the rest is promised as debt payment for foreign loans. We are not able to achieve peak crude production now because of crude oil theft and other factors and part of the available production is basically paying off debt.

Lol imaginary importation to deceive people

The oil used in dangote refinery is coming free of charge from Oil producing states.
They just want to use this as an excuse because the price of fuel they will be producing will be high.

Story for the gods, another Excuse from the pit of hell.

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

And you think that inability of the FG to supply crude to Dangote refinery is Dangote's fault?
Two. I never for once believed that refining crude oil in Nigeria would bring down the price, may be by N50 per litre at best.
Thirdly. Dangote refinery is privately owned, not just by Dangote alone but by many individuals including FG. So yeah, it is established to put money in the pockets of shareholders. The only benefit of refining crude oil in Nigeria is availability of the products, no more scarcity

NA NIGERIAN YOUTH I BLAME...

ONA GO DE SPEND TIME FOR CHURCH AND MOSQUE INTRODUCED BY YOUR ANCESTORS SLAVE MASTERS

AFTER THAT YOU SPEND THE REMAINING TIME IN SCHOOLS WHERE YOUR ANCESTORS SLAVE MASTERS DETERMINES WHAT IS TAUGHT AND NOT.

THEN YOU COME OUT TO WORK FOR GOVERNMENT THAT ARE TAX COLLECTORS FOR THE CHILDEREN FOR YOUR ANCESTORS SLAVE MASTERS.

Nigeria IS NOT A COUNTRY BUT A BRITISH COMPANY

AND THEY ARE NOT READY TO HAND OVER TO YOU.

Dangote refinery is designed in such a way that it can refine any type of crude produced anywhereintheworld. What we are seeing is because of the fact that Nigeria alone cannot produce enough crude for the refinery. So they need to source for the product elsewhere.
Note the fact that in every refinery, once that light you see burning 🔥 is up, it doesn't just stop. Production has to continue. And there are some machines in every refinery that don't just go off. So the need for sourcing more crude elsewhere.
The refinery cannot depend on Nigeria crude alone for Production.
This translate that we still have a long way to go. Because this will still put pressure on the naira. Because Dangote needs FX for the procurement of this crude. the price of fuel is not coming down any time soon.

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

That man is up to something. Is it that we don't have enough. Or he's trying to justify the expected
high rate?

Northernblood7:


Are you saying that Nigeria does not have enough Crude ; . Pick up a mirrow and repeat the same sentence looking at yourself carefully as you say so



Oga, Nigeria produces 1.9 million barrels daily according to workdmeter, Dangote refinery needs only 650k. Make research b4 talking next time

If FG is ready to supply him all the crude he needs on daily basis, why would he be sourcing for crude oil abroad that will make his production cost go up?
Nigeria might be producing 1.9 million barrels per day, you just have to know that FG already has an agreement with foreign firms/countries that can't just be discarded like that. That's why FG may not be able to supply him 650k barrels per day for now

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

That man is up to something. Is it that we do not have enough. Or he's trying to justify the expected
high rate?

TimeManager:
Can we try and be reasonable for once, everything shouldn't go by wailing and all that. What's our production per month?, we currently on 1.7mbp, do you expect we offload all our production to Dangote without selling abroad to earn FX?. Dangote and other refineries coming up would have to source crude from various buyers to augument the supply from NNPCL.
Dangote refinery requires 6million feedstock of crude oil to start production.
NNPCL does not have 6million supplies to give Dangote.

-kiss the truth!

Nigeria produces 1.9mb per day not 1.7mb per month Sir.

Dangote is a capitalist. Capitalism is an embodiment of wickedness. He wants to justify his exploitation.

TimeManager:
Can we try and be reasonable for once, everything shouldn't go by wailing and all that. What's our production per month?, we currently on 1.7mbp, do you expect we offload all our production to Dangote without selling abroad to earn FX?. Dangote and other refineries coming up would have to source crude from various buyers to augument the supply from NNPCL.
Dangote refinery requires 6million feedstock of crude oil to start production.
NNPCL does not have 6million supplies to give Dangote.

-kiss the truth!

Nigeria produces 1.9mb per day not 1.7mb per month Sir.

Dangote is a capitalist. A capitalist is an embodiment of wickedness. He wants to justify his exploitation.

I hope this news hits Yoruba Ronu who were trending Dangote Refinery launching with the caption "congratulations Nigeria" to the core.

So are you congratulating Nigeria now or Dangote?

Dangote is already setting the stage to make sure the fuel pump price will continue to go up instead of reducing the price. When Dangote is not foolish , isn't it the joy of a businessman that the price of his product is going up?

I've noticed something about Fulani people, they care more about foreign interests than the interest of Black African people. Anywhere you hear about insecurity in Africa occasioned by mining by foreign companies like Chinese, USA and the rest, it is Fulani people they often use. This is what is happening in Angola, Congo and Northern Nigeria.

Dangote is a Fulani man, I hope people have not forgotten this.

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

Of course, he is a businessman, and he does not run any charity organization..
Do you expect him to work for Nigeria Pocket?

Chaiii..stolen mandate of.. Chaiii..stolen mandate of.....

APOSTLECHUMA:
Reason for this Judas Iscariot to sell petrol 2000 and tell us that he isn't selling Nigerian fuel.

Why cant we resuscitate our dead refineries? Mind you, Dangote is a businessman, all he thinks about is himself and group of company.

alsudan:
Nigerians should prepare to buy fuel for 1500 this year and exchange 1 dollar for 3000 Naira very soon.

Where's the Port Harcourt refinery that the cocaine sniffing thug promised was gonna start running in December Last year.

I said it, now Nigeria is no longer exporter of crude oil. The more you imagine things happening in this country, the angrier you become