davodyguy:

Because you don't have a business or know how a business operates

Air Peace you celebrate also borrowed

The Refinery was built via loans.

Major oil companies, Total, MRS, Mobil, etc are living on loans

That's how business works.

Contracts awarded are executed with loans

Even football clues have huge debts via loans

It’s obvious you know nothing about business refinery contract aviation can take loan no where in the world will people take loan to sell fuel because profit margin is low per lit eg buy 590 sell 610 Nigeria interest rate is 27 percent now you can’t use loan for all
Kind of business not selling of fuel because you can’t even pay interest talk of profit if you borrow

McLizbae:
Okay, so must they take loan? If all the money (capital and profit) from their previous sales can't restock, they should quietly step aside for more prudent businessmen to buy the products and sell.

Oga no law stops you from buying and selling Petroleum products if you feel the marketers are the problem. You people chooses to turn a blind eye to the real problem (government inefficiency) and blames the offshoot. This is why we'll keep running in circles in this country until we focus on the real issues.

Menclothing1:


It’s obvious you know nothing about business refinery contract aviation can take loan no where in the world will people take loan to sell fuel because profit margin is low per lit eg buy 590 sell 610 Nigeria interest rate is 27 percent now you can’t use loan for all
Kind of business not selling of fuel because you can’t even pay interest talk of profit if you borrow

Stop embarrassing yourself by putting your mouth on what you know nothing about.

Most of the people that owed Commercial banks leading to setting up of AMCON in year 2010 were players in the oil and gas sector.

From Ifeanyi Uba's Capital Oil, Femi Otedola's Zenon Oil, Masters Energy etc

They borrow the most and they use the forex the most until NNPC became the sole importer of PMS in 2016.

Stop saying what you know nothing about.

Master's Energy is right on this one that Banks are scared to guarantee such huge loans, as the business is no longer lucrative as before

We're not talking about low end players that do retail like one or two PFS

We're talking bulk purchasers and you can't purchase in bulk with your profit or savings to buy in bulk or import vessels into Nigeria.

Ask the links of Emadeb, Zone 4 Energy, Northwest.

Just keep quiet.

This is my field and I am a player here, but would not even give you too much clue or reveal too much.

See you talking about chicken change profit on PMS that's still regulated.

Aviation Fuel, and AGO is where the millions of profit is garnered from a single Cargo import and to fund it, you need loan.

Abeg go 😴

Loan.

If banks have depositors money and they borrow this money out, how come depositors still get their money when they come and request for it from banks?

Hint: The reason why everybody cannot have all their money in cash.

Think.

Make banks give you money, make you divert am. Everything has to go through strict protocol now.