Aconomist's Posts
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omenka:Maybe when the naira falls to $1 to 1000, you will wake up. Meanwhile, continue suffering and smiling. Merry Christmas! |
Meanwhile foolish Yoruba think Igbo is their enemy. |
People from Northern Nigeria are popular for two things—selling "Suya" and operating bureau de change (BDC) businesses —how come most BDC operators in Nigeria are from the north? The time BDCs were introduced coincided with the period Abdukadir Ahmed, the longest-serving Governor of the CBN, was still in charge of the apex bank. Ahmed, a northerner, was the CBN governor between 1982 and 1993. His reign was also during the democratic government of Shehu Shagari and the military regimes of Generals Muhammadu Buhari and Ibrahim Babangida— all northerners. Nigeria operates a very strong political patronage system, where incumbents are politically incentivised to directly benefit their kinsmen. There is an unspoken allegation that the licensing process for BDCs were thus skewed to favour applicants from the northern part of the country. We were selling any volume to the BDCs at ₦22/$ while they were selling it outside at ₦80/$. I was at the former Chartered Bank then and used to wonder why that was allowed," said Mr Obasan. This arbitrage opportunity created a major wave of currency trader millionaires in the country. It was a government of the cronies, by the cronies and for the cronies. https://www.stearsng.com/article/why-mallams-dominate-nigerias-bureau-de-change-market
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Kekereekun123:O.K. if that is the case, I'll concede that point. |
Kekereekun123:I never said he is using the refinery site to import fuel. He is using the forex to import fuel. This is the same thing he does with sugar. The CBN gives him access to forex to produce sugar from his farms, but he uses most of the forex to import sugar and makes excuses why the farms aren't working. Rabiu is engaged in the same business. For every 1 ton of sugar they produce, they are importing 99 tones. |
Transport Minister Amaechi says port will be operational by 2022. At that time, it will be the deepest seaport in Nigeria, expected to ease congestion at Apapa and Tin Can. The site is located right under Dangote's refinery in the Lekki FTZ.
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If you ask me, I think he is using the project as an excuse to obtain forex at the CBN rate. |
DSoj:Provide evidence that the refinery is not a scam. I want this project to succeed more than you do because it is the only hope of Nigeria escaping stagnation and developing an industrial economy. However, Dangote doesn't seem to be serious about the project. I've been following this project since 2016 -- every year, Dangote says the refinery will be complete. But there is always an excuse. First he delayed it because of flooding. Next it was inability to access steel. Now, it is coronavirus, etc. Something is fishy. And we should be demanding answers instead of acting like children. I don't know why Nigerians must behave like dumb monkeys; always suffering and smiling and defending the indefensible. Wetin you dey lose if I pressure Dangote to stop lying to the public and make good on his promises? |
Godons1:For the last time, I'm not igbo. Your racism against those people is clouding your judgement. Every bad thing in Nigeria, you blame on Igbo. And delete that creepy picture, pls. |
Moderators: please put this one the front page. Maybe we can catch Dangote Group's attention and get a response from him. This is a very important project for the industrialization of Nigeria, we can't let it be abandoned. |
ajailer:Notice how Dangote has constructed so many tank farms and his own port? He is using the refinery as a cover for mass importation of petroleum into Nigeria. |
blamingthedevil:Fertilizer production is a completely different business than oil refining. Fertilizer (urea, ammonia, NKP) is made with natural gas while refining uses crude oil. So far, Dangote hasn't completed anything related to crude oil. |
[quote author=blamingthedevil post=97371978][/quote]Fertilizer production is a completely different business than oil refining. Fertilizer uses natural gas while refining uses crude oil. So far, Dangote hasn't completed anything related to crude oil. |
Ever8090:I am not Ibo. |
Ever8090:Dangote is given special privileges by the Nigerian government, and allowed to monopolize key industries. We DEMAND that he complete these projects. He owes us a functional refinery after all the profit he makes from Nigerians. |
blamingthedevil:The images they are showing in that video are the fertilizer plant, not the real refinery! |
Here is the Dangote petrochemical and refinery complex. The section highlighted in red in the moribund fertilizer plant (which was supposed to start production n December but will never start). The news media has been using this small section to mislead the public that that is the real refinery. The real refinery is the empty wasteland to the left of the image. Dangote has only built tank farms, but there is no real refinery here.
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Here are more images of the Jamnagar refinery in Gujerat India. This is what a real refinery is supposed to look like.
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Dangote's 650,000 bpd oil refinery is a scam of epic proportions. Every year Dangote extends the completion date. First he said it would be complete in 2016, then he extended it to 2018 -- now, he is saying 2021. But in reality the project will never be completed. The project is already abandoned. There has been no workers or serious construction activity for several years. The news media is using pictures of Dangote's moribund fertilizer plant and saying that is the core refinery. Na lie. I have obtained recent drone footage of the real refinery. Here is conclusive evidence that the project isn't even 10% complete. https://www.youtube.com/watch?v=sIbVfQlEId0&t=160s Compare the pathetic state of the Dangote refinery to the functional Jamnagar refinery in India. https://www.youtube.com/watch?v=h1uFDVdR_ug&t=72s |
This monkey is talking about the "Magellan line, adjunctive adjective, superlative clauses" and other nonsense, when we should be focusing on mathematics and industrial sciences. |
Ever8090:It is not managed by nigger-areans. The contractors are Lebanese. |
Don't you know Buhari died long ago? |
Goodluck Jonathan is the worst thing to have ever happened to Nigeria. I don't know why that ape is still a free man. |
To be honest, that bridge is too narrow. I don't know what the engineer was thinking. The traffic will be too much. |
Meanwhile that incompetent fool Geoduck Jonathan is still alive.... smiling. |
peacekante:Foul language is a mercy on these savages. In a just world, they would meet the guillotine. This is how Europeans solved corruption in the 18th century. Nigerians should learn something.
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marsman:Jonathan is a dumb animal. The successful infrastructure projects of the Buhari regime make it clearer and clearer. That corrupt cretin should be arrested to make an example for the future because Nigeria can't go back to that kind of low IQ leadership. |
Reference:Abuja doesn't even have a respectable business district. It is just endless low density sprawl. Nigerians are stupid past monkeys. We can't do anything right -- even a in a "planned city" we repeat the same mistakes that made lagos so unlivable. |
I am a notorious anti-fulani activist. But, even I have to admit that Buhari is among the best presidents in Nigerian history, especially compared to that monkey Goodluck Johnathan. Can you name one infrastructure project that that worthless stinking creature completed during his administration -- despite enjoying oil prices of $80-100? Meanwhile Buhari has delivered rail lines in Warri, Lagos, dredged the Niger river, started a port in Akwa Ibom and Lekki, commissioned a refinery, etc. I would take Buhari for the next 100 years before allowing another village idiot, half orangutan corrupt pile of excrement like Goodluck Jonathan befoul Nigeria again. |
Reference:Nigerians are idiots. We don't have what it takes to build a modern society. |
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