₦airaland Forum

bitbillionaire:
Nice one there from Obaseki. I actually like the idea of an oil producing state building a refinery rather than building an airport that seems to be the trend among state governors these days.

Products of refineries will be enjoyed by everybody unlike airports that only the rich can afford

Can't Airport help in some form of exports too or must it only be dry inland ports?

rvp20182:
It depends. If you were exceeding your OPEC quotas - definitely refining would be profitable.
For now all the refining profit - will go to Dangote - as he is choking in debt - and need to repay 26b dollars.

So Nigeria need to race towards overproduction of crude oil - so the excess beyond OPEC quotas - can be directed to Dangote.

Oil has not much future in the next two decades.

26 Billion dollars debt? Lol. Dangote himself has spent over 7 Billion dollars on this project.

95% of the lenders are Nigerian Banks and at least 75% of the funds come from Nigerian Banks whose CEO's are Dangote's business cliques. So no much pressure as they could decide to reduce their interest rates through negotiations.
This is the advantage because there is very little funding from outside Nigeria.

Dangote already agreed with Nigerian Government a few years ago to buy a part in naira and supply that part in naira.

Oil has not much future in 20 years? Lol.
Don't be fooled, oil would be relevant in the next 50 years.

rvp20182:
You lose 300K barrel in forex.
You gain 300K of refined fuel.
Zero sum game.
Now Nigeria economy and people will pay off Dangote 25B dollars.
And the man is vampire.

If it was gov owned refinery maybe you will celebrate

But knowing Dangote - I pity you

Refined crude (PMS, Diesel, Petrochemicals) and just raw crude, which is more profitable?

rvp20182:
Dangote refinery was supposed to be completed in 2019 - now we in 2023 - and has overshoot the cost - by 10B dollars.
I am not sure what excitement is about - Dangote will rip Nigeria apart.
And in terms of forex impact - Zero impact - Dangote will take your crude oil that was be exported - add value by refinery.
So you'll have less forex from export of crude - and you'll save from importing from India and rest.

And where you problems begin - Dangote like to sell more expensive than if you had imported from efficient refiners.

If it would start immediately after the inauguration, I don't think it would operate at full capacity ( that is most likely 2024), but if it begins by producing 350,000 bbd while we keep working on our existing refineries, then it's no problem.

We produce around 1.3 million bpd crude as at March 2023. We can give Dangote 300,000 bbd to supply the Nigerian market in naira until 2024 and we sell 1 million bpd to the international market, which is a win win.

Note: Dangote would not only produce petrol but Diesel and petrochemicals.

Nigerian Government also has a 20% stake in it in a PPP.

RaptorX:
Sane climes indeed, you wonder why such a high suicide rate in a country a lot of Nigerians believe to be some kind of paradise.

Their movies started with the brainwashing of the world.

ImpregnaTor:
This one doesn't understand Nigerian politics

What do you think?

Immigrants and contributions to their home country

Someone in Labour party said Obi is working for Atiku.
I believe Atiku thought he could dominate completely in the North to win the election while Obi divides the South West Christian votes.

vaxx:
the source is untrusted. It is a third party

😄

rvp20182:
Tell me one novel problem that you've discovered about kenya that I didnt know, that I denied, that I didnt acknowedge and that I didnt explain to your satisfaction.

In short you're just a typical zoogeria without any morals or compunction. An animal.

Clown.

rvp20182:
So typical. Are we here to win useless arguments for argument sake. You're just a goat like Buhari. I will have no qualms sharing kenya problems and success.

But you don't share Kenyan problems here. We tell you.

rvp20182:
You didnt even know it exist. I am one who flagged it when we were trying to figure out how Buhari has survived with 100% debt servicing ratio. Of course he has printed 50B dollars of Naira.

Now it's public debt - and of course it source of Naira inflation & weaking to it's real value of 750 to 1 dollar.

Of course I knew it existed. You don't expect me to tell you just the way you don't tell me everything about Kenya. It was your job to find out.

rvp20182:
Now Nigeria debt is 170B dollars - in economy which using black market exchange rate is really 225B dollars.

Soon it will follow Ghana in bankruptcy.

Kenya’s Government Plans Crypto, Influencer Tax as Cash Sources Dry.

Finance bill introduces 3% tax on transfer of digital assets.

East African government plans to raise $21 billion for 2023-24

Source : Bloomberg.

rvp20182:
Buhari leaves Nigeria with 50B dollars printing bill - now debt has ballooned by 50% - as it converted into 40yr domestic debt.

That is what happens when you print money to pay salaries. And of course when you elect a goat. Instead of someone like the woman in this picture.

I told you we would add it to our public debt.

Feintline:
I am sure our Nigerian military knows tinubu did not win.
Even the results on INEC IREV shows he did not win in some of the states and places given to him.
Constitutional he did not meet the requirements and so swearing him in is swearing in a military government.

Research on elections shows that PODATTI won in over 90% of votes cast in military barracks all over the 36 states of our country.
These are places with diverse tribes, language, religion and where rigging or snatching of ballots is near impossible.

I do not see tinubu being sworn in.

I think you are just trolling here.

rvp20182:
Nigeria is hopeless until 2060
Ghana will take off in 2040.
Kenya before 2030.

Although Nigeria has to improve her automotive policies and do better but in SSA, I can't think of any other country that has a bigger local manufacturing base in the automotive sector than Nigeria except of course South Africa ( who are far far ahead and in a class of their own).
Although I agree that Ghana seem to have the right automotive policies that could bear fruits in the future.

What if it's based on a plan to ensure states are fully responsible for all roads within their states and more money is to be allocated to the states.

Obaaderemi2:
He should have done more on security and abolishing the dual rates for the naira. And he wasn't forceful enough on corruption and such things as oil theft. Buhari is a total mistake, Generaldae. But all the same we can't blame him alone for the mess. The next administration has its work cut out for it.

I agree.

Fearyourcreator:
This can't be true

Yope

Image123:
Tinubu seems set to make power devolution a reality. He almost let the cat out of the bag, but changed his mind. He wants states to do their roads, generate their electricity, police their states etc.
Better for him to keep his cards until after inauguration, we have many enemies who will do anything to make Nigeria stagnant or retrogressive. But God pass them.

The Tinubu of those days was a big fan of restructuring. Dunno about now.

ImpregnaTor:
May Buhari never happen to us again or any other country.

Since that guy came in 2015 Nigeria have gone from bad to worse.

I can't wait for that illiterate to leave.
Imagine going for 8 years literally without a president. If this happens in Kenya or Tanzania they would have been competing with Somalia by now

For now Nigeria is one of the biggest Zoo in Africa

I have a little hope Tinubu will bring a glimpse of hope again

You can't completely blame Buhari. In the Jonathan era, we were earning approx 70 Billion dollars yearly to share to FAAC (excluding other revenues/royalties). Even before Jonathan, excess crude account in the time of Obasanjo was 105 Billion dollars (as at 2004).
When Buhari came, excess crude account had been spent by previous administrations and we had moved from 105 Billion dollars to just 2 Billion dollars left. Our earnings yearly had also depleted by more than half.

Funkyswagzz:
This man will teach nigerians how to loot in a very legal way. His miscreants just made him twice as rich and more powerful.

How to loot with common sense. Alpha Beta for instance, they are doing their job beautifully, so even if there is some form of looting, the state still gains a lot.
Obi adopted thesame model with Hero Beer/Sabmiller but while Alphabeta is an institution that outlives Tinubu's tenure, Hero Beer couldn't survive after some years down the line.

Legitisreal:
he is the leader of obi whom he sent message to help him split votes

He can never be PDP leader

Come to think of it. Pat Utomi, Kenneth Okonkwo, were both close associates of Tinubu and even Doyin Okupe admired him from afar previously.

Are you thinking what I'm thinking?

CondenseMilk:
He is from Liberia/Sierra Leone .

You are wrong. He is originally from Borno but his ancestors settled in Guinea before moving back to Osun and then his parents finally moved to Lagos.

IyaebeTheGreat:
All these boys doing other shady things and disguising as musicians or comedians ehn, their secrets will be exposed soon. Who even know this one and he's already buying house

Ckay has the second most viewed Afrobeat song in the world on YouTube with top sales across several music platforms in the world.

Kazikazi:
The economy is slowing down
Revenues are dropping, export of flowers is in all time low,and coupled with these protests with gov employees going for 4 months without pay,2023 will be more worst

If you love Kenya, you better pray 2023 doesn't get worse economically for them because by 2024, there is 2 Billion dollars debt to be paid.

Access Holdings says its flagship subsidiary, Access Bank Plc, has received regulatory approval from the Central Bank of Angola for the acquisition of a majority equity stake in Finibanco, an Angolan Bank.

Nigerian Banks keep expanding.