obembet:
Dear Nairalanders, This is the first time I will commend Power holding company in Nigeria. For the past 3 months, we are been enjoying steady light here in Port Harcourt ( CHOBA, Rumuosi, Eluos, Alakahia/UPTH, Rumuekini etc). As in 48hours under the sun, under the rain. We have been enjoying this for the past 3 months now. When this started about 3 months ago, I was thinking Officer charge of our area was Sleeping or they plan to give us light we supposed to use for one week in just a day because we hardly experience 2hrs before.

So, are you enjoying the same thing in your area?

Kindly give us update of your area.

ProJectAnatot:
The rate of inflation of general commodities especially food items is alarming to me . I have been in the southeastern part of the country since the end of January and some commodities like bread, soft drinks and even food have inflated by up to 50% since January. Please I am really confused about this situation.
And also surprisingly no one is talking about it..
Economists and analysts in the house is there any particular reason for this fast inflation... Is it oil?, naira? Incompetence? Or even corruption? Fulani herdsmen? flood? I am really being sincere with my question!

Good afternoon.

YakubuLagos:
Good day everyone.

I'm from Edo state to be precise.

The major problem we have presently is not just the FG alone but other bodies under the government.

I lived in an estimate of about 4 flats each. Fast forward to this day, we were using normal light (no prepaid). Along the line, my landlord introduced the prepaid meter for every flat, which was a welcome development.

Yesterday, I decided to recharge as usual. But I got an information that I can't recharge, and this prompt me to go to the NEPA office to laid a complain. On getting there, I was told that I have to pay #5000 before I can recharge and that is a new directive from the state government, which I was skeptical about. What annoyed me was the fact that, the payment is manual and not through the state or FG ban.

Since morning, I have been trying to call them but the phone line kept me on voice note.

Corruption is every corner, the system has gotten to a point where it cannot be saved.

This must get to the state government.

TheExclusive:


Well said. Also, there are other products from refining crude oil that serve the petrochemical, plastic and aviation industry. These will also serve to generate more revenue for the refinery.

afube:


I live in the united states too, let me assure you that the Dangote refinery is in a very dicey and delicate situation, nobody is saying the refinery will not make money but the projections may not hit their proposed height cos of the impact of the EV revolution, for instance, the Tesla s Plaid is electric Ev which is essentially a 4 door family car is much faster than the fastest Ferrari sports car and it does so with much better mileage and the maintenance is far, far, far lower........................ A new progressive government led by a southerner may not be so supportive of Dangote's profligate adventure.


I have test driven the VW ID4 and I tell you the motor engined car is in trouble.................

afube:





Well said like the typical unthinking and slow to act African that you are! while richer countries are doubling down on the EV industry ..........you Africans are as usual marking time and twiddling your thumbs as the world leaves you behind ! Tell me which part of Nigeria's oil and gas sector with a mega billion-dollar investment that is not dependent on export proceeds.......crude oil? liquified gas or petrochemicals?...............the effective shelf life of that refinery is no more than 15 years or probably less.........and the clock started ticking since 2020.

skj1377:
Oga Dont argue with me the capitalism practiced in Nigeria is crase-capitalism the worst type world over. I hope you know that federal government minimum wage may not be able to buy 9 grown chickens. Capitalism without any social safety net.

skj1377:
My point is simple. express your opinion without calling contrary opinions names. You an I have valid opinions as the saying goes a glass can be half empty or half full or better said "m" looks like w depending on the side your looking at it from. Dangote cement has not made cement cheaper in Nigeria rather more expensive hence his abnormal profits due to his monopoly of the product. How many additional jobs has he provided against the cement companies his monopoly has closed down. In case you Dont know cement in China is equivalent of N350 for 50kg.Dangote is selling same thing N2700. He has made so much money from poor Nigerian and has started buying cement companies allover Africa. He has made several times the cost of building his cement plant several times over . Dangote refinery will go same way but is like the prayers of Nigerians he has been cheating has caught up with him, he wants to inflict similar business profiteering on per litre of petrol sold in Nigeria but God will not allow him. Like the saying goes everyday for the thief but one day for the owner. Yahoo boys and Dangote are one and the same thing just that Dangote goes a step further by making people jobless, broke, indebted, homeless and hungry. Even yahoo boys are learners compared to Dangote . I have been telling people judgment is at hand and God has started paying people back in their own coin. How I wish an Ibeto family member becomes president of Nigeria then you will see how Africa's richest man will fade into oblivion. Anyways enjoy your weekend.

Reference:
What is all this nonsense.
Everyone knows the difficulty surrounding industrial investment. Everyone knows the high cost of doing business in Nigeria. Everyone knows the challenges around getting sensible credit in this country.

There is a refinery emerging and it will succeed at the end because the man has a track record of developing and sustaining industrial investment.

If a venture industrialist has tough challenges setting up shop it is rather an indictment of this country and its failed structures not him and it is a stern warning that the much needed economic development we earnestly seek will not happen if we cannot make the pastures green particularly for foreign investment who will be looking at Dangote's successes or failures as a barometer to their decisions about Nigeria.

Countries that earnestly seek investment bend over backwards with all sorts of economic stimuli from tax breaks, subsidies and lean credit to ensure it happens. It is not new.

It is only new to those who want total state control of our economy to promote their age old rent seeking nature that cannot see through this and see this through.

They should let this man and his refinery be abeg.

benzine:



Guy that refinery will never be profitable buying oil from the international market. Pls don't kid yourself. What about the gas to power the facilities? Refineries are not as profitable as u think

skj1377:
Hello Oga. Please we have failing PR officers for the Dangote group on nairaland. First quote the law your talking about! And does the law take effect on uncompleted projects to the extent that $1billion will be spent impromptu. Liers every corner of Nigeria. How do you know no bank has called in their loan do you work for all banks or you work for Dangote group? Your just a paid PR officer how much are they paying you to peddle falsehood. Yes the writer complained of a lack of project management skills in the conception and delivery of the project which has resulted in unnecessary delays, you just said the first delay was because they increased the daily output from 450k to 650k and so they recalibrated the design. Why would Dangote arbitrarily change the design of a project of such scale does it look like a room and parlour he is building now look at how many "k" he can produce per day now "0k". Your next point was a delay of 4 months, how does for months explain a delay of 8yrs and counting. Your third point was covid 19, the project had been delayed for 7yrs prior not a valid point besides the project is estimated to be completed 2025 as only the fertiliser section will start operation next year. You finally made mention of loans becoming foreign reserve or foreign direct investment, Oga at this junction are you an educated illiterate how does a loan for an individuals private business translate into foreign reserve of a country do you think any of those $ came to Nigeria at all. The refinery is imported as well As all it's components the loan is to pay the invoices of the different manufacturers and other logistics and consultation costs period. Ajaokuta steel company that probably would have produced the complete refinery at a fraction of the cost is not working so who will send us the dollars for what we can't produce? As you can see the money is not enough, the project is far from complete and as such can't be used to service the matured obligations debtors are knocking. If your paid to do PR for Dangote your not doing well stop telling unnecessary lies besides what agreement did only Dangote have with the federal government that allowed only his cement trucks to cross our international boarders when they where locked against all other manufacturers in Nigeria. Do you know how many Nigerian's are in unemployment market because of that.

afube:




I feel for Dangote really, his projections may be way off considering the massive earthquake taking place in the automobile industry worldwide .........how will the massive refinery meet its revenue projection with the massive uptake of electric-powered vehicles in China and Europe in particular, even the united states is going to launch a massive build-out of recharging stations for EV all around the country with massive subsidies for companies selling Electric Vehicles................... This electric vehicle revolution may be a knockout blow for that Dangote refinery and will definitely affect the price of crude oil going forward.......................................in my view Dangote should have invested these mega billions in battery production for the EV industry.


please note that electric vehicles are more efficient and effective cars than petrol-powered cars, they are more expensive right now but they will become cheaper than petrol cars in the next 3-5 years, it is not looking too good for Dangote industry as a whole....sad really

Yankee101:


You think a refinery is serving Nigerians?

Nope. The world is moving to clean energy


Wind, sun, batteries

You think it's a coincidence the oil majors are living nigeria?

benzine:
So where is the oil for the refinery coming from? Has anyone discussed with the militants yet? Una go hear am

davodyguy:

This is a private project, that may consume the entire Dangote Industry.

All his estimated worth in cash and assets can't even finance this project.

9jaRealist:


How is it humanly possible to cram so much IGNORANCE into one article?
Mr. Bako must be the sort of “seasoned economists” that have been in charge of the hapless Nigerian economy.

First, the NNPC is planning to take 20% in SIX private refineries, not just Dangote’s…
See this Reuters article: https://www.reuters.com/article/nigeria-refinery-equity-idAFL2N2NI1QL’

Nonetheless, as already discussed here on Nairaland, Dangote is NOT HAPPY with the proposed acquisition…
See the following thread: https://www.nairaland.com/6626446/mele-kyari-refinery-dangote-not

Meanwhile, Dangote Refinery BOUGHT (not gifted) forex from the CBN forex window…
At the OFFICIAL rate that it’s sold to ALL companies in the real sector (not to mention for school fees, travel, health tourism, etc.).

The obtuse drivel about costing and delays merely amplifies this dude’s cluelessness. No other refinery project elsewhere involves reclaiming land bigger than Victoria Island and building a virtual port, because Apapa cannot handle the equipment for this project. Furthermore, dude seems clueless that Covid disrupted value-chains GLOBALLY (or does he think the equipment is manufactured in Nigeria) and consequently delayed most (if not ALL) large-scale infrastructure projects around the world.

Finally, debt to build a refinery would be long-term…
Therefore, it is SILLY to peddle beer-parlor rumors about banks already calling in their loans.

So many Nigerians love to attack success while celebrating mediocrity and failure…
Whether it is due to primordial ethnic sentiments, envy or just darn right IGNORANCE, it’s a succinct self-indictment!
>

SIRTee15:


I think this is the major issue. Refinery business is not really a profitable venture that guarantees quick return on investment. Its a very low profit margin business.
It's going to be hard to attract foreign investors that won't demand two arms n two legs especially in a volatile region like nigeria. Dangote may end up becoming a minority stakeholder.
However, the refinery is too big to fail. A lot is at stake here. FG will have to find a way to ensure its completion...if it means taking over.

I doubt local investors can be of any help. Or is it not nigerian bank collecting 700 million dollars every year over a 7.5 billion loan. Na wa o.
Maybe Cubana and his boys can come to his rescue.

jerrybone:

https://investorsreel.com/dangote-refinery-bailing-out-the-unbailable-funding-or-bailout/

Seniorwriter:
@OP why not engage their SM handles for validation.
SMH

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This is not a get rich quick nor an MLM (multilevel marketing) nor PONZI scheme.
So keep off if you are those that crave in the aforementioned.
There is a facebook- ID on my profile which is the best effective method to reach out.
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Howbeit the software costs around $650 that allows for achieving this number of subscribers.

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@SeniorWriter

deetin:
At 150 per liter .. so what exactly is the government using these money or the profits to do ?

helinues:


Is it CBN that's going to dictate who becomes the next first bank MD/CEO?

Ayam not understanding

helinues:


Is it CBN that's going to dictate who becomes the next first bank MD/CEO?

Ayam not understanding

Angrygoat:
Mixing scents are trash. Ppl who mix scents imitate the original. I can place a bet on you to spray your white shirt with mixed scents and testify the results, even hypo can't wipe off the stain. I have used all scents both locl and foreign,its good on black and brown but not white or grey. IF NO BE PANADOL,E NO FIT BE LIKE PANADOL. BUY ORIGINAL ONLY,SAY NO TO CLONES AND IMITATIONS.

Angrygoat:
After these 3 perfumes,no other perfume dey again. 212,Tommy hilfiger men,Perry Ellis Green colour. After those 3 perfumes,the rest na counterfeit. I have always respected Tommy hilfiger original. Na aways best quality,be it jeans,pef,belt,shirt,sneakers, as long as na original with serial number. Na everlasting. Tommy .

Odewaleadesoye:


https://www.vanguardngr.com/2021/04/i-get-turned-on-when-he-smells-nice-%E2%80%95-omosuwa-bukola/

oluwasegun007:
Who will loose??

OlujobaSamuel:
I don't understand, thought company tax is under purview of firs, while paye is under state irs, so how come the state is the one seeking for the company tax?

janedonez:
What! So even GTB has integrity Ish.

naija4life247:


Thieves die miserably. Very soon, the masses will stone him to death.

Nemere2020:


https://www.thecable.ng/full-list-dangote-waltersmith-private-refineries-licensed-by-dpr/amp#

Below is a list of private companies with a licence to operate a refinery:

maureensylvia:


Very cheap
Kano is where you can get the cheapest gold
in nigeria.