₦airaland Forum

SIGNING CEREMONY

Afreximbank, Co-MLA, Underwrites USD 2.5 Billion of the USD 4 Billion Syndicated Term Loan Facility for Dangote Petroleum Refinery and Petrochemicals FZE
Source: Dangote Industries

Good2go1:
Regardless of the tax, there is no reason it should be cheaper than the country it was manuafactured, because he will incur transport cost to export it, export duties and import duties there maybe other associated charges

Which is it cheaper than where it was manufactured?

sweetjohn:
It should be reduced to 500 naira. You are the producer and the raw material is in Nigeria for God’s sake. Have a heart. Also reduce that your bag of cement is too costly. All your goods is dam expensive. What kind of exploiting billionaire are you? Your mate in other part of the world are helping their country but you are busy exploiting Nigerians together with evil regime.

Good selling at there market prices prices is now exploitative?

fabolouz1:
when is BUA refinery coming on stream? dangote is just a communist and capitalist.

When going to demand subsidy from your government?

SixSeven:
The other day when I said the State should have fixed its refineries, someone started explaining the issue. And I thought, the man on the street does not care about all of these. Just give us oil! Cheap oil. That's the duty of government. I cannot blame Dangote. Never.

Cheap oil without subsidy?

richiemcgold:
He probably reduced the price because of revelation made by the world bank. Imported petrol shouldn't be cheaper. How come? 🤥

So World Bank now control oil prices?

TimeManager:
Mr Dangote, small small abeg. Government has not intervened in any private business as much as Dangote's.

-Kiss the truth!

Government intervention from where?

And all the refineries will immune to international oil price?

kingphilip:
No be him fault.

If all our refineries de work, who for send am?

Just like someone said in the other thread that he rushed to increase the price so that when the international prices drop, he can reduce abit and that's just what happened.

Where is the monopoly?

saintbillion:
The way this guy dey enjoy monopoly eeh. Well I blame FG

Putindbutt:
Thanks to the World Bank.

What has World Bank has the do oil prices?

Putindbutt:
Govt currently has 7.2% stake in the refinery. Let the public enjoy the little stake atleast.

Public enjoy the little stakes as how?

Good2go1:
Let keep centiment apart, Dangote is exploiting Nigerians in all his businesses, can you explain why Dangote cement produced in Nigeria and exported to other Africa countries is cheaper in the countries where it is exported to?

Exploiting?
Are they supposed to be buying at the price with you that have a tax master in Aso Rock?

SenecaTheYonger:
That means na importers been Dey save this country. Buy local to grow the naira my toto

They save you with higher prices of substandard petrol at there filling with 0.5 litre for 1 litre

Dbegining:
I'll start with the same thing i ended with when i spoke to you the last time: I hooe you're a billionaire (at least in naira) .That will give meaning to your position on things.

You are talking about operating cost? D you know how much in pure profits the refinery is making?

The government stifled competitors from importing fuel just fr ONE MAN!

He went to court to ask to be the sole importer of fuel at one time.

The chairman of that oil regulatory company that was fired the other day was because he refused to do Dangote's bidding. Cause Dangote can't tell me that's the first government official he has seen that's corrupt. And then why didn't he also serve as a whistle blower for the rest?


Let the government FREELY open importation and let the free economy decide things. THAT'S FUNDAMENTAL ECONOMICS!

Stop supporting evil be it the government or private individuals!

Don't demand subsidy from the government, keep talking about fairytales free economy.

Reference:
Though I have very little hope about BUA.
Me. I feel he and Dangote are two sides of a coin. There is very, very little competition in the markets they share.

However government should do everything to see that the BUA refinery comes on stream as quickly as possible. And create a different kind of truly competitive market place that will benefit the country.

Sit and watch the government increases taxes, excessive naira in circulation and quote imaginary competition theory to comfort yourself while suffering and smiling.

Topman0001:
An average Nigerian has a mind set that is profit oriented and not purpose oriented. Innoson motors are costlier than Toyota, Nigerian rice is more expensive than foreign well processed long grain rice, Dangote fuel cannot be exceptional. Is we import everything we use in Nigeria you'll be surprised that things will be cheaper just that it will affect the value of our Nira. The indigenous chicken and eggs we consume are already becoming unaffordable because they are local products. Until we change our mentality, nothing will be cheap

Inosson motors costlier Toyota on which planet?
Do even know the price of a brand new Toyota?

AkhereOkaka:
N


My question is, why will imported fuel be cheaper than Dangote's fuel by 12%, it will never be well with the Federal government of Nigeria and CBN governor Godwin Emefiele who was giving Dangote subsidised forex. Somebody they should've allowed to go source for forex from black market during the construction of his refinery. Of what benefit is the refinery to ordinary Nigerians


We rise by lifting others.

Why are the filling stations selling the cheaper imported petrol?
Subsidized from where?

HacheNoire:
Like we don’t know what Nigerian importers go for!

Can we compare the octane value and quality of both?

These western hand tools just desperate to attack that refinery. It’s bad business for them!

At a time when African countries are now being dependent on the refinery, they spring up another propaganda about cost!

When last did you see Nigerians talking about quality?

youngsahito:
When the useless govt refused to fix the state owned refineries, we will all be at the mercy of the monopolist Dangote. Nigeria govt has failed his people.

What are many state owned refineries are functional around the globe?
How will a functional state owned refineries be a magician?
Where is the monopoly?

Dbegining:
I've been saying it that Dangote is a dangerous monopolist who ams at exploiting this country to maintain his status as Africa's riches man.

Dangerous monopolist?

LZAA:
Mate at this point you are either a Disco staff or Apcheat supporter
Either way ✌️ out

It is now Discos staff and APC supporter who someone's speak against government incompetence

Nigerian billionaire Abdul Samad Rabiu’s son, Khalifa Rabiu, is set to receive N13.2 billion ($9.6 million) from BUA Foods Plc, following the company’s record dividend payout.

Khalifa holds 473.6 million shares, a 2.63% stake, while his father, controlling 92.64%, will receive N467 billion ($337.3 million).

The dividend, approved for the 2025 fiscal year, more than doubles last year’s payout, totaling N504 billion ($364 million).

BUA Foods’ profit surged to N518.7 billion ($374.6 million), driven by higher sales of sugar, pasta, and rice, and improved production and distribution efficiency.

The company’s total assets rose to N1.39 trillion ($1 billion), with retained earnings at N705.4 billion ($510 million).

Khalifa, recently appointed Chief Officer of Global Procurement and Strategic Operations, will oversee cost optimization and supply chain resilience.

His background spans food production, cement, and animal feed, strengthening BUA Foods’ operational efficiency and long-term growth strategy.
Source: Shore.Africa

saintopus:
Anything or models involving bringing back subsidy is evil.
Come to imagine, what benefit does Nigeria derived from the crude oil hike in price.
The present cost of transportation was the cost we paid in 2023 when the President declared that fuel subsidy is gone. Then fuel prices increased to N1400 in most cities in Nigeria.
Then Dangote refineries came on stream and the prices crashed to N740 per litre of fuel in most cities in Nigeria 🇳🇬.

The did the transportation cost reduced?

The answer was no.

Then the Iran war came and fuel went up to N1400 same as in 2023, immediately transport cost increased nearly 50% in most cities in Nigeria 🇳🇬.

So who is fooling who

How is subsidy evil?
What makes bringing subsidy back evil?

nairalanda1:
And have you also noted that all those countries 1) have very small populations, 2) produce far more oil than we do which is why they can 3) afford those things?

What Nigeria should be doing is using our available natural resources to make products that we can sell around the world...including to those middle eastern countries which would 1) make us even more richer 2) provide employment for everyone 3) make us a strong nation 4) put us in a position to be able to survive when oil becomes weak and scarce and useless.

See, even if we put our oil money in a soverign wealth fund, it won;t earn enough money for Nigeria. If we put money made by improved productive effort based on proper utilization of resources , we would even earn more and more


That's why I hate APC...because since 2015, they haven't done anything like that. And that's why I am angry with most African leaders, because they haven't used their resources to do the same.

Your tinubu government is failing you because they are not using our natural resources to make exportable product, or even encouraging it. Instead we get things like let's get oil production up to 4 mmillion bpd, as if that would improve anything.

Have you also notice that poverty is the fuel for large population growth like Nigeria?
Do anybody tied down Nigeria to oil dependency?
We don't have enough to invest in a sovereign wealth fund but borrow enough money to look for foreign investors, borrow more to fulfil there obligations, borrow again for importation but can't borrow to invest?

LZAA:
You keep missing the point
Now let me break it down
DISCOS generate trillions yearly with estimated billings
You and i know estimated billing is illegal and in fact they were sued last year and ordered to pay compensation
They recently signed a deal with GRA exceeding millions to supply power while ignoring the general population
So all these excuse that government debt is slowing them down is a lie from the pit of hell
As we speak NO DISCO has improved it's facilities yet they keep shouting they are owing them
See ehn the private power industries are an absolute disgrace and should keep thanking their stars they are in Nigeria because in any other country jail time and huge fines will follow

Dicos estimated billings are illegal according to you, but bypassing electricity, using more electricity while paying less on the same estimated billing, supporting government owing subsidizes are legal?

nairalanda1:
Which many of these countries , their citizens pay hefty taxes for the government to be able to afford subsides.

Yeah, I heard that Iran does subsides...except that they are limited and also, the country is heavily in debt partly due to those subsides.

The reason why we cannot pay subsides in nigeria is because of government incompetence in diversifying our income sources as a nation. We went from being a world leader in many agric and cash crops production in the 1960's to being zero or so forth. And we won't support industrialization and tax revenue is still painfully low.

Result is a broke nation, which has to pay for subsides by either borrowing or by not doing so.

And corruption makes the matter worse...someone steals money and things get even worse.

A group of oil countries in the Middle East channel there oil profits to a sovereign wealth fund which invest in the most profitable companies within and outside there territories, pays her citizens, subsidized heavily and provide free utilities (housing, electricity, healthcare, education etc) while some oppressors who use debt to subsidize so they can remove it.

LZAA:
Support who?
Apcheat ?
You're having a laugh
You see this debt is not the MAIN reason DISCOS and GENCOS are underperforming
It's just a convenient excuse
Like i said even if you clear this debt today never expect steady power supply
Those criminals will still find another excuse
Support Apcheat?
Smh😄
🚶‍♂️

The debt is not that main reason?
Why not start a business and let's government and owes you, and see how far you will perform.

Renowned economist and Managing Director of Financial Derivatives Company, Bismarck Rewane, has proposed a shift in Nigeria’s fuel subsidy framework, advocating a refinery-based model that channels benefits directly to consumers.

Speaking during a session on Nairametrics TV, Rewane argued that Nigeria’s resource endowment and strategic location provide a strong foundation for a more efficient subsidy system anchored on domestic refining.

He noted that rather than maintaining a broad subsidy regime, Nigeria could adopt a targeted approach by leveraging local refineries to stabilize fuel prices and reduce inefficiencies.

Rewane explained that the proposed model would involve the government supplying crude oil to domestic refiners at a controlled price, while ensuring that refined petroleum products are sold to consumers at lower rates.

Visit www.nairametrics.com to read more.

Federal government

bizzibodi:
I don't understand who owes the debt the government or the public of discos?

LZAA:
Normally Govt SHOULD clear it's debt
But you see those useless GENCOS and DISCOS ba?
Even if they clear that debt 10 times over the an.imals will find reasons not to supply power
Very useless organization
Smh
🚶‍♂️🚶‍♂️

As someone has said "Nigerians deserves the bad government they are suffering from". Imagine a citizen supporting the government for owing subsidies of a functioning sector while been blind to a non-functioning, collapsing national grid managed by the government he voted into power.

jokaka89:
HHHHMMMM.
THIS IS ONE OF THE REASON WHY I DISLIKE PRIVATIZATION OF GOVERNMENT PROPERTIES FOR PIECE OF BREAD.
IF GENCOS WAS NOT PRIVATIZED, ALL THESE CASHOUT WILL NOT BE CELEBRATED BY THE THIEVES.
YOU PRIVATIZED BUT STILL USING GOVERNMENT MONEY TO SUPPORT THE THIEVES.
[color=#990000][/color]

Ignorance is a bad thing

grandstar:
If the Gencos are truly being underpaid by the government, this is unfair.

They are being forced to carry the weight of electricity subsidies and thr indebttedness of large amount of monies owed by gocernment instittuitions.

It is time the subsidies ends, all government bodies perhaps move to prepaid if it possible. I dont know the global best practixes in that regards.

How does prepaid meter have in common with subsidy removal?