₦airaland Forum

According to this man, Mr Dangote spent nearly 10 years building a refinery, but forgot to secure contracts for the very raw material the refinery needs to operate.

Very Nigerian. Not surprised.

We build power plants, announce to the world that we now have 10,000 megawatts capacity, only to remember at the last minute that, there is no gas to operate the plants. And so the power plant doesn't function for another 5 years

We are not the best at organisation and planning.

According to this man, Mr Dangote spent nearly 10 years building a refinery, but forgot to secure contracts for the very raw material the refinery needs to operate.

Very Nigerian.

We build power plants, announce to the world that we now have 10,000 megawatts capacity, only to remember at the last minute that, there is no gas to operate the plants. And so the power plant doesn't function for another 5 years

We are not the best at organisation and planning.

kedeojo:
This dumebi, is just a fool. No wonder Nigerian's take such character for granted when they contest under mushroom party. How can an importer will be a bigger player in the oil industry than a refinery owner of that magnitude.

The man mentioned Shell and Mobil as the bigger players. And he is correct.

At no point did he say local importers were bigger than Dangote as you have claimed.

Shell and Mobil who are the biggest crude oil exploration companies in Nigeria operate refineries around the world with combined capacity that exceed Dangote's. They need to supply their own refineries.

Shell and Mobil also operate filling stations across the world. Dangote doesn't operate any.

The two companies are also some of the biggest international crude oil sellers in the world. These are the power brokers in crude oil exploration, marketing and refining.

So, the man is correct. Shell is several times bigger than Dangote. So is Mobil.

lyndire:
Including foreign ngo that try to bribe Hundeyin? I disagree

The foreing ngo that allegedly offered the guy money to write an article is an environmental lobby group.

They are set up to fight polluting industries. They sponsor writers across the globe to write articles against high pollution industries like refineries, chemical industries, coal firing industries etc

They sponsor articles against those industries whether the industries are in the US, China, Europe etc

They have nothing to do with any Nigerian cabal.

MossadAgent:
Dangote refinery is a future "too big to fail" enterprise that will definitely see to future bailouts by the FG.

There was no reason for it other than Dangote hoping on being granted certain privelages and concessions.

Any bail out by the federal government will likely come with conditions that Mr Dangote will find painful but he will have no choice than to agree.

Government may demand:

1. that he sells some of his stake in the refinery - perhaps reducing his stake to 60% or less. This can be achieved through private placement or through the Nigerian stock exchange.

Another question is, does the Nigerian government have the financial capacity to bail out a company if that company needs $3 or $4 billion dollars?

Nigeria is broke and needs a bail out of its own, so it may not be able to bail out Dangote refinery.

The other thing I still can't work out is what happens when Port Harcourt refinery starts producing.

What if the government decides at some point to sell petrol at a price cheaper than Dangote. How will that market work or will Dangote demand that the government must not sell cheaper than him.

I wait to see what will happen.

Op has a very credible point. Dangote will need to pay back his foreign lenders for several years, so most of the dollars the refinery makes will go to debt repayment. The dollars won't benefit Nigeria.

What will benefit Nigeria and the naira is the sale of crude to Dangote in naira and the purchase of petroleum fro Dangote in naira.

But even then, it seems only about 30-35% of our imports is spent on petroleum products. That means we still have to find the dollars for the other 65% of our imports.

So, Dangote's refinery is a positive, but it is not going to be the game changer that propagandists claim it will be.

People also forget that as Dangote's refinery is located in a free trade zone, IT WILL PAY ZERO TAX TO THE FEDERAL GOVERNMENT ON IT PROFITS!

The big beneficiary is Lagos State government.

No wonder the federal government self fit they vex for the whole thing. Though they will receive a tidy sum in VAT.

The fact that the mods will even allow a thread with this heading and content is unbelievable.

Calling people SW trolls is acceptable to Nairaland? '

Op has clearly used 'SW' as a convenient substitute for 'Yoruba' in order to disguise the ethnic baiting character of his thread.

Nairaland promised a total ban on ethic slurs. Is it going to step up and do the right thing here?

Nigeria must be the only country in the world where security and law enforcement agencies claim to have arrested people and yet fail to release their names.

And then we won't here anything about the so-called arrests again.

slowice:
Egypt add more than 10000MW in 2yrs but Nigeria is aiming to add less than 1000MW in same period.

You can't ignore the fact that Nigeria doesn't have the money. 10000 megawatts in Nigeria will cost 3 or 4 times more than it cost in Egypt, due to corruption.

Also Egypt receives hundreds of millions of dollars from the US every year. And receives large grants from the EU. It also gets easy access to billions in investment money and cheap loans from Saudi Arabia, UAE etc Nigeria doesn't have these.

That said, even if Nigeria has the money, fraud and vested interests will sabotage any effort to increase generation by 10000 megawatts in 2 years.

slimfit1:
A minister that is not focusing on solar farm installations and manufacturing is destination failure just like Fashola. We have sun reserve I don't know why I am saying what we already know.

1. Due to insecurity in the country, solar farms will not work in Nigeria. Even a 2-man bandit can bring down a solar farm with ease.

2. A solar farm needs to be relatively efficient to be profitable. Our environmental conditions are not best for solar farms. The field will be difficult to maintain in the South. In many parts of the North, dust will be a problem.

3. The sun is often too hot in many parts of Nigeria for an efficient solar farm. People also don't realise that in the South, we experience more cloudy days than many parts of the US, India etc Since late June, we have had so many cloudy days. September is usually the most cloudy month . So that will be over 3 months without consistent sunshine.

4. Government can't manage solar farms in Nigeria due to corruption. It should be left to private investors. But no investor will put his money into solar farms because it will not be profitable.

What the government should be doing is making it easier for people to buy and install solar in their houses. There should be zero import duty on solar panels. More technicians should be trained to install solar.

Throughout last week, we had electricity at the office all day.

Same thing through out yesterday.

Today, they brought the light about 30 minutes ago.

Electricity has improved markedly in recent weeks.

Too early to celebrate though.

The disparity is probably because:

Nigeria's production figures includes condensates.

Opec's figures do not include condensates.

The low price is basically a promo to gain customers attention in a market dominated by powerful players.

A low price is a good market entry strategy but it is unlikely to last long.

Also, constitution is not the reason price of beans, garri, rice etc is high.

The young kids that rioted in the North don't know or care about any constitution.

A new constitution will not solve their problems.

I tell you, in the Nigeria of today, any assembly of regional representatives for the discussion of a new constitution will end up in fisticuffs.

You will see a Professor slapping a traditional ruler, an Hausa man landing a punch on a Yoruba representative or vice versa. But the juiciest fight will be between an Igbo representative and a Yoruba counterpart. The tension between these two is unbearable now.

Can you imagine an Oba's crown or an Emir's head gear being flung across a conference centre. No doubt internet would love it, and the world will ridicule Nigeria once again.

Right now, people across Nigeria are angry against imaginary 'haters' from other tribes. Tension and frustration is high.

Any attempt to gather people together in the name of a new constitution will bring out all the misplaced frustrations of people.

Let us continue to manage the current constitution for now. Let peace, or whatever it is we have now reign o.

I don talk my own o.

An administration that is struggling under the massive weight of serious economic challenges will start dipping hands into the thorny and complex issue of a new constitution?

If it is that easy to get a new constitution that all key stakeholders in Nigeria will agree to, previous President's will have done it.

Can you imagine a highly polarised Yorubas, Hausas, Igbos, Itshekiris, Tivs, Ijaws etc all sitting down together sipping tea and eating biscuits, happily agreeing to a new constitution? They can talk for 10 years, there will be no new constitution.

Hausas don't want what Igbos want, and vice versa. Hausas will not agree to a 6th state for the South East, let alone a 6th state carved from land that is on the other side of river Niger. Yorubas and Hausas will block any attempt to cancel state of origin- something that Igbos want. Ijaws would rather cut their hands off than make any concession to Itshekiris and vice versa. Tivs nko?

Mr Tinubu was clever to tell the proponents that a new constitution is not his priority.

They wanted to run him into a political ditch.

He should jejeli leave the wahala of a new constitution to a future president.

iammolise:
Perhaps the students rejoicing failed to really grasp the context of the grant is "loan" not stipend, kids your parents will pay back.

That's not correct.

My understanding is as follows (though I stand to be corrected):

1. The loan is not repayable until at least 2 years after your graduation and you start working.

2. If you get a job immediately after graduating, you don't even have to start repaying for another 2 years.

3. If you don't get a job for 5, 10 years or even longer, you don't have to repay the loan.

4. Your parents cannot be asked to repay the loan (I stand to be corrected), unless the student and his parents perpetuated a fraud when applying for the loan.

This loan will put very little pressure on the students even after they graduate.

I just can't see how any reasonable person can reject this innovative policy.

casualobserver:
So they should stop the loan?

You ask for urgent 20k, you complain I gave you only 5 or 10k. I think it is better I don’t give you anything!

Students did not even ask for it.

Mr Tinubu promised it in his Election Manifesto, and he has delivered it in roughly 1 year.

That is unprecedented in the political history of Nigeria.

Incidentally, unlike Mr Tinubu and Atiku, Mr Obi was the only major candidate that DID NOT PUBLISH A MANIFESTO for that election.

The man is a joke.

Mom007:
Chai! Nigeria sorry...
This is really pathetic. How is this supposed to help anyone? Is it a palliative? What is this?

So, it is a bad thing for the government to pay ALL your school fees for the 4 or 5 years you spend in a University?

It is also a bad for the government to ALSO pay directly into your account N20,000 per month throughout the 4 or 5 years that you are in University?

All of that is useless abi?

You people are never happy with any good news.

Ahigbo1:
Make school fees affordable to the benefit of both parents and students, not giving loans

Under this policy, the government pays the school fees. Parents pay ZERO school fees. On top of that, the government gives the student N20k per month.

And you are still not happy

For many of you people, it is all about the fact that your candidate did not win election.

You condemn any good thing done by the person that won.

If it was Ghana that introduced this policy, your type would be praising Ghana as a 'sane' country.

ALL your school fee - paid by the government.

IN ADDITION, you get N20k per month.

This is one of the best policies of this government.

Mr Tinubu promised this in his election manifesto, and he has delivered it in just one year.

People complain that politicians do not keep their promises. Mr Tinubu has kept his promise here.

He deserves recognition for this.

The man is in trouble.

Don't fight a police man.

Yet, Nigerians think removal of the old subsidy was wrong, and that the Naira should not have been devalued.

As if Nigeria had a choice.

If people understood economics, they would know that if this President had not removed the old subsidy, Nigeria would be close to bankrupt by now.

This President is basically trying to fix many wrongs of the past administrations.

Imagine how much money Nigeria made from crude oil under Mr Jonathan, yet he squandered everything, and a few months before the end of his administration, Mrs Okonjo Eweala announced they were borrowing to pay salaries of civil servants! Chai

Take this man serious at your own peril.

Before the APC presidential primaries, he gleefully claimed his sources in the corridors of power had told him Mr Tinubu was wasting his time and that he would never be President of this country.

In one or more of his articles, he listed reasons why Tinubu would not win the primaries. He was so full of delusion, and still is today.

More recently, he promised that the protest would portend the fall of the government. It hasn't. He must be very disappointed.

Like he did before APC primaries, he is back again peddling views by a narrow group of so-called northern forces that he thinks will determine what happens in 2027. He told us he was certain Tinubu would not be allowed to be President. That prediction proved to be hot air.

Now, he is back again posturing as the man who knows tomorrow.

The man always pushes narrow sectional northern interests but hides under the cover of pro good governance to deceive naive Southern readers who can't read between the lines or know the man's inglorious history.

People like him are never happy if a Northerner is not the President, or if they can't control a Southern president.

It was only a matter of time before protests slowly fade away.

If you protest in Lagos for 5 days, and not more than 200 people out of a population of 20 million join you, you sef go reason am na.

The truth is, protests did not gain any real momentum in the South.

That proverb thing is so true and real.

Our people will use proverbs to reset your brain.

It drives the introspective and patient (think before you act) philosophy of the Yorubas.

AqualinaXYZ:
Thunder fire Tinubu


Useless man

So Jumia was doing well before the President came to power?

Jumia has always made a loss. They have never declared a profit in Nigeria.

What else who he have advised the President
other than ask him to declare N1 trillion
for 'agriculture'.

The trillions President Buhari gave out to this same 'agriculture' as loan, the 'farmers' didn't pay back.

It was a scam of voting free money to a certain section of the country.

Mr Tinubu has refused to follow that step.

Any funds for agriculture should be distributed fairly across the country.

Mr Sanwo Olu has shown humility throughout, even before the protest started, he was pleading for calm.

He has not thrown his weight about threatening protesters.

What I have learned from this is that even when you are in a position of authority, genuine non-partisan humility can take you far.

My secondary school year set association has been in turmoil over power tussle for a whole year now. Ordinary school Association o. They are even threatening legal action against one another

Give some people a little power, and they turn into Idi Amin.

People also forget that a Nigerian President has a lot of financial armoury in his political war chest that he can deploy.

1. The 'North' includes Plateau, Kwara, Nassarawa, Kogi, Niger, Kaduna, Abuja etc. There are many voters here who will not be in a hurry to have a core Northern President.

2. The security situation in many of the above states have been a lot better under Mr Tinubu.

3. All the fears of Northern Christians about muslim-muslim presidency has not materialised. If anything, their security situation has been a little better.

4. This President still has nearly 3 years to go, so a lot more positive news/development are still to come.

5. Unlike Presidents of smaller African countries, a politically adept Nigerian president has huge amount of financial armament that he can deploy. For example, I think the student loan scheme is going to be a tool that I expect the President to use to win favour. He can for example, increase the monthly loan by N10,000 every year. That will b e a big vote winner across the country. In 2 years time he can increase the minimum wage again by, say, N20,000 and promise to increase it every 2 years if he is reelected. So many other areas like that.

Mr Jonathan lost because he was not politically adept. It was only a few weeks to election that he started sharing dollars to South West King's. But tge average SW king doesn't control more than 100 votes.

Consider Mr Buhari. Many thought he would not win 2nd term. But he did.

Mr Tinubu has the luck that his troubles are coming early in his term. He has nearly 3 years to change people's perspectives. I believe he will do it.

He is not receiving anything.

The protest has petered out and restricted to just a handful of states.

Most Nigerians accept things are hard, but they are going about their normal business in the understanding that protesting is fine but rioting and destruction are not the solutions.

This President has shown courage by coming out and stating that he is sticking to his key policies as they are necessary for the economic future of the country.

Now, that is a leader.

Unlike Mr Jonathan that panicked and reversed himself.

1. Students school fees are being paid, and they are also receiving N20,000 monthly payments in their account.

2. Local governments are gaining financial independence.

3. Corrupt subsidy is gone.

4. Under Mr Buhari, Nigeria was using more than 90% of its total revenue to pay debt. In just over one year, through prudent management, Mr Tinubu's government has reduced it to about 65%.

And many other innovative exploits will follow in the next few months.

These are structural changes that no former President has achieved since 1999, and they will stand the test of time. But people like you only see negatives.

Mention one single thing that Mr Jonathan did that anyone remembers today.

Just one, please.

Stay there and be wallowing in ethic baiting.

givedemwotowoto:
This is the biggest mistake of the Tinubu government!

Dangote will lose a lot of money but he has a voice in the international and local business community

Foreign investors will be looking for a distance knowing it could be them next. Already they lost 60% of their investments when Tinubu announced the floating of Naira

I don't see why you think the President should be blamed.

You mean he should have granted Dangote refinery the sole and exclusive right to sell petrol and diesel in Nigeria?

Do you know any country in the world where a private company is the sole supplier of refined petroleum products?

What do you think would happen to the price of rice if only one private company has the right to sell rice in Nigeria. We will all be at the mercy of that company as it will increase prices as it pleases.

I am sure you would be amongst those who would turn around and blame the President for putting the control of sale of rice in the hands of a single company.

You people blame the President for everything.