₦airaland Forum

GerogeI:
@OP
You got a couple of things wrong, but yes, you are sniffing something, but Dangote is also not innocent.

1. Upstream oil production has no direct link to Downstream retail of petroleum products. So do not link Agip to petrol import, even though we know the acquisition by Oando might not have sailed through without Tinubu as president. But big oil companies are looking to leave Nigeria, all of them. Not just because of electric vehicles in future, but because Nigeria has constantly been annually forecasted for implosion since Niger Delta militancy in 2008.

2. How Wale Tinubu got to own Oando is another story altogether, but in 2016 he sold the down stream part of Oando to Vitol and Helios, cause of his poor forcast of oil prices in buying ConocoPhillips oil assets between 2013 and 2015. So Wale Tinubu has little or nothing to do with those Oando filling stations that NNPC just bought since 2016. Infact, one might say he was fighting to get them back since Tinubu became president. If you check House of Reps, supended the sale of OVH Energy assets by Vitol and Helios to NNPC, after money has been paid.

3. However, MRS and Oando have been long term competitors since 2010 or 2012, not sure of exact date. I can also tell you the Dangote Refinery as built by Dangote, was originally an Oando Refinery Proposal. How Dangote got them and implemented them is a mystery. So I expect there is a lot of bad blood between the two sides, especially if Wale Tinubu is watching a competitor implementing his pet Project which was botched from inside, by his own executives around 2011.

4. Monopolization of Petroleum products import was not started by Tinubu, but by Buhari, with northern business interests. Sometime early in his second term, he claimed to suspend subsidy payment, and them proceeded to run an arrangement where only NNPC could recieve subsidy for petroleum import. So since 2016 only NNPC has been importing petroleum products because any other person that does will make a loss. That is precisely why global petroleum Giant like Vitol, became desperate to sell Oando Marketing(OVH Energy), even though they could drown Nigeria in petrol and diesel without any forex problems. Infact that was why they entered Nigerian Market initially.

But someone was buying all those petroleum products for NNPC. Who? I think that's where Dangote comes in. Buhari's daughter even became a director in NNPC. I do not have a clear line of what went on, but one person has been importing petroleum products for all of Nigeria since 2016, that person or persons got so comfortable with it, that they invested in Dangote Refinery, after monopolising the industry. To get the magnitude, That single entity has been making the annually profits of Sahara Energy, OVH Energy, MRS, Forte Oil, Mobil (Retail Nigeria), Aiteo, Total, NIPCO, and all independent marketers, alone since 2016. All these companies became its indirect subsidiaries cause they could not import on their own and get subsidy. Let's not forget that this kind of monopolization of imports by NNPC was first executed using Ifeanyi Uba's Capital Oil around 2010. Buhari's Govt. took it to a new level.

This is the main origin, back yard nepotism. Dangote Refinery at its size and complexity, should not cost more than 5 billion USD, but its tagged at 20 billion USD. With Nigeria's FG originally owning 20% stake. 20% of 20 billion is 4 billion USD. It seems based on real value, Dangote Refinery was built entirely with funds from Nigeria's Federal Government. This seems like a typical pattern of a certain former CBN Governor, who is romoured to have facilitated the use of a banks depositors fund to enable the acquisition of same bank.

5. NNPC is still monopolizing petroleum products imports. Probabky as revealed, Only the new Zar is doing the import for NNPC. While Dangote is telling you this, he might not be telling how he might have benefitted from same monopoly under Buhari. Why do you think Otedola sold forte oil and invested in Dangote Refinery? Maybe the time of oil terminals has come to end for a new type of monopoly.


6. The Malta import angle is just an opportunity that arose for WaleTinubu, if its true. It can not be the long term plan.
Why? Dangote Refinery execution strategy, was based on the execution strategy in the original Oando Refinery plan. This was based on the Jamanagar Refinery owned by Reliance Industry India. It was built in 3 years using multiple contractor's and top notch project management which focused on keeping the battery limits between the contractor coherent and clean with the overall design. Dangote took same approach, using multiple Indian contractors, without the top notch project management for the battery limits. Jamanagar Refinery costed just about 3 billion USD in 2009. Dangote's cost 20 billion USD and is still not running more than the atmospheric distillation towers, which makes it only as complex as those drum refineries in Niger Delta bushes. So Dangote still cannot replace imports, until he is able to produce high octane petrol.

Wale Tinubu had every opportunity to build this Refinery since 2010, the plan was Oando's, there is no way he can compete with a Refinery using a Blending plant. To compete, he needs another Refinery. So competition cannot be his long term plan. Dangote on the other hand is drowning in the cost of a refinery that has a 400% cost over run. He needs special access to crude, and monopolistic access to sell whatever the Refinery is producing in order to survive.


The question here is who is right- Dangote and the mis-managed Oando Refinery Plan, or Oando and Buharis' oil monopoly. You tell me.

AbuTwins:
All these you vituperations no make sense! Will i be the one to remove the alcohol revenues? Does the governors have control over it?
If for example the total revenue is 2 Trillion and the amount due to alcohol is 50 Billion while Kano got 80 Billion, What is the probability that Kano got from the alcohol revenue?

I am a worker and i feed from my work! I don't spend alcohol money as you lied! Alcohol money is labelled. There's no such label here!

No wonder! This is how you're brought up! Parents should learn to train their kids well!
Too much lies yet no proof!

JagabanB:
If anonymous was wróñg about several things during the elections, what's the guarantee that it's right about this.
A group of people who lives on what appeals to their sentiments are easily swayed.

JagabanB:
LOL.
Oil cabals has been existing the military era, all of a sudden, Tinubu will overshadow all the cabals by cornering everything to himself.
No documents to back up claims by anonymous, everyone is circulating same thing.
Anonymous will make their profits from X and they will look for the next big thing to feed the people on.

JagabanB:
Same anonymous that said Buhari will not hand over to Tinubu or it's another anonymous?

Zooposki:
Jesus, nigger. What’s wrong with you? Show some respect.

Massiveglory:
I never knew about this " anonymous explosive revelations"
But this is what i said here few days ago whrn the dangote refinery stuff began.

Jodybarton:
Your mother is dieing let me help your siblings and your father send money for treatment but if you say no I will send money for her burial all the same

Jodybarton:
Mumu you mother needs help I'm willing to help tho but if she's dies it's your fault

CyrusVI:
If u believe this terribly linked and unreasonably concocted lies, then your education is a waste

Jodybarton:
You that your father never chop sef dey ask for details lwkmd let me help your sick mother before she dies

AbuTwins:
This is not proven anywhere!

You can tell your people to sponsor the bill. Let them tally the total generated from alcohol, remove it and share the rest!



It's none of my business. The revenue comes from many sources. No one can say it is the alcohol money part that goes to Kano!
That's classic ignorance!

naija4life247:
E no concern me. But if Anambra people can vote out a professor of Economics for a primary school dropout, then they should all go and concentrate on their baby factory merchandising and drugs trafficking, it will pay them more than any other thing. Or rather, they should go and get the Ozubulu drug lords that chased their drug partners to Ozubulu Catholic Church and shot many people in the Church including the statues of Jesus Christ and Holy Mary and make the drug lords their governor, deputy and commissioners

Jodybarton:
Na them, every crime is associated with this people spits, billionaires indeed see as him be like native goat

victorDanladi:
When they claim an xyz man will rather die than beg.

This is what of the million things they do rather than beg!

AmalaAtiEwedu:
Where else?

nyabinghi:
werey na your Igbo brother, you will deny him

Jodybarton:
Them plan am ni na correct igbo boy, see him head na

diamond68:
he resembu igbo but he dont have that crazy igbo accent though so am inclined to believe he is south south or middle belt or yoruba

Jodybarton:
Mumu na ona work na why are you so pained, no go die o well die sef wetin concern me

GeneralPula:
I didn’t watch the video but speaking Yoruba doesn’t mean anything..

Lots of Nigerians speaks or understand Yoruba because of their close rapour with the west..

muyico:
from billionaire region!

Image123:
Lolz. Who knows this fellow? Nobody. He probably wants to use protest to become popular and contest in the next elections.
Who goes asking a democratically elected president to scrap the Senate, sack the judiciary, become the judge of all the past presidents (except saint GEJ of course), and increase minimum wage by over 800% while bringing fuel price to 150naira per liter.
You need a brain if you're following such mad people.

FYI: Your emergency darling Dangote, who complained of not getting enough crude oil from FG, is currently selling crude oil. Refinery that is selling crude oil. Be playing there thinking anyone that speaks against FG is here to save you.

nairalanda1:
So, if you did a job for one of the masses, and he paid you half of what you quoted, and asked you to forget the rest because he knows you have the masses at heart, not like tinubu who wants votes, or dangote who wants money.....you would accept his argument, and take half your money

You know you would be out of money, and out of a business if you did that for the masses.

Or you would, to ensure you have enough money to even live...be like Dangote.

I don't like dangote ,myself, but I know that businesses needs to make profits.


But then again, that is trash to you.

nairalanda1:
Concorde was probably a case of too fast, too soon.

We need supersonic flight, but the problem with concorde was that it was darn too expensive to run every time. And it was tech that was too far ahead of its time.

At the end, the inevitable happened.

I guess we would have to wait a bit longer for supersonic tech, AND for suborbital flights, where we can reach New York from Lagos in 34 minutes. Maybe in the 22nd century.

nairalanda1:
Basic problem is, the government does not want to remove subsidy.

If Dangote refinery comes on line, it means that fuel would be sold at a high price of over N1000 for it to work well. The government knows that, hence the delay tactics.

Also, those who benefit from the importation of refined products and the subsidy money would lose out. The winners would be Dangote and other domestic refineries that are coming up.

The truth is, most Nigerians prefer cheap fuel, most of the elite prefer the subsidy mechansim and imports to continue. Their interests coincide. The result is that we never ever get to domestic refining.

All because of cheap fuel.