₦airaland Forum

Magnetic010:
For those that understand economics more, is this good or bad for our naira?

It’s the only thing that will save Nigeria at the moment, but the choice is left for dangote group to make not ipman.
Giving that the refinery was built in a free trade zone, I don’t see how dangote will sell in naira, unless NNPC provide crude oil to dangote in naira

coleon:
You know I have been laughing so hard when I see some ignorant people here saying Dangote refinery will solve Nigerian FX problem and reduce petrol price. A lot of people wallow in ignorance and self deceit to make themselves happy in Nigeria.
The only benefit Nigeria will get from Dangote refinery production is the reduction of freight cost which will not amount to NGN30 per litre.
I have been opportuned to see the guarantees and forward contracts backing this crude oil sales to Dangote refinery and the guarantees were indeed quoted in USD.
What this means is that Dangote will have to pay for his major source of raw material (Crude Oil) in USD, Dangote equally will sell to Nigerian major supplier from his free zone in USD and Nigeria's FX problem and quagmire will remain.
Aside the problem I stated with supply in USD, Dangote has debts to repay back to lenders in USD and the running operations including salaries of the refineries are in USD so why will he earn money from his products in another currency?
There's a reason Dangote deliberately does not want to refine pms yet and it's because he knows the government is still subsidizing petrol and he does not want issues for his refineries yet.
This year will be interesting to see how APC's supporters hope on Dangote solving the country's problem will be dashed.

If this is true then the refinery is just a waste of time. Imagine a 20 billion dollar investment with no impart in the country.
I was actually hoping he will sell to Nigeria in naira.
Thanks for the response tho

FreeStuffsNG:
“Preparations are in top gear for the commencement of production in Dangote Refinery, as the petrochemical company has received the fourth crude shipment of, one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL), and expecting the fifth crude shipment, anytime from now.

A whopping annual revenue of $27 billion!! And 20% of this company belongs to FG.

The shares of this company stock will be listed on Nigeria Stock Exchange so that an average Nigerian can have a piece of the company.

This is a huge milestone and I am very proud of everyone who made this possible. What seemed important in the eyes of the unpatriotic naysayers became a reality and they are still in shock at the audacity of hope that this huge project will become a reality.

Congrats to the vision bearer, Alhaji Aliko Dangote, GCON, President Buhari, President Bola Ahmed Tinubu and other patriotic Nigerians.
God bless Nigeria for ever! Check my signature for free stuffs!

Will dangote sell to Nigeria marketers in Naira or dollar?
Giving that the refinery is in a free trade zone

Timmi:
What you failed to comprehend from Bismarck interview was the effect of exchange rate on the fuel subsidy removal.
The fuel subsidy was removed but the government have to cushioned the effect of exchange rate internally instead of passing it to the consumers.
It will help you Kukutenia, the head of the Obizombies to apply common sense before you started wailing. Please go back and read it again but this time, let your brain be active and mind open.

Olodo, typed so much but made zero sense

nairalanda1:
Never thought I would be happy to be proven right.

Subsidy still exists. So long as the government has a hand in price setting, there is a subsidy.

The show continues. And at the end of the day, nothing changes, until Nigerians are ready to face the fact that total removal of subsidy means better refineries, domestic refineries, etc.

But tinubu, like yer average politican, wants to win elections.

Never ever trust a Nigerian politican.

Subsidy removal doesn’t mean better refineries. There’s nothing stopping them from building new refineries while still paying subsidies. When the refineries are fully operational they can remove fuel subsidies

Fearyourcreator:
I know your type always thinking they comprehend better... I never said it should be the same in development like Lagos ... I meant it should be far better than what it is ... Did Ogun bring itself close to Lagos ?... Being close to Lagos gave it an edge too just like some south south region didn't plant oil... Lagos too having the deep sea wasn't planted too .. Lagos need Ogun ,Ogun needs Lagos... While Ogun is not developing as it's supposed too... You dey here dey drag other states into the matter... Make Lagos dey create land na... Na you English dey hard

This is not what we are arguing jor, u said Ogun should be as developed as Lagos, why u Dey change mouth

Fearyourcreator:
Why is Lagos in Lagos or ogun in Ogun .. and oil in Nigeria delta... I said Ogun should be close to Lagos in development you dey say Wetin ogun get... Anything to suit una narrative say una better other tribes ... Wahala WA ooo .. I will say it again Ogun should be far better than what it is currently and also close to Lagos in development... Anything you like say na you sabi

English hard you o.
Of course ogun should be far better than it current state. The last time I was the ogun the roads were really bad. I’m not arguing that it shouldn’t be better my argument is that it has not gotten any special privileges like Lagos for it to be as developed as Lagos and the reason it has so many factories is because it’s close to Lagos which has a deep sea port

Fearyourcreator:
So factories not in other states

Yap, ogun state has the most factories in Nigeria, because it’s close to Lagos, and Lagos has the only deep sea port in Nigeria. So these factories can easily import raw materials they need to Lagos n transport them to ogun state easily.
I taught this is common knowledge that most Nigerians should know.
No state in Nigeria has factories like ogun state.
What Niger delta has is just oil installations and oil rigs
The middle belt n north is mainly into farming.

Nazgul:
A. Peter Obi: His my choice for the award. His selfless nature and concern for the Masses has shown that if given the opportunity, Nigeria wouldn't become like the western world overnight, but we'll all see significant changes in governance.

B. Victor Osimhen: Aside from qualifiers, he hasn't represented Nigeria in any tournament. 95% of his fame this year came from his impressive performance at Napoli. Although I wouldn't nominate him for the award this year, he'll definitely make my list in future.

C. Burna Boy: He made a global impact this year in the world of music no doubt. But like every other musician, his impact is basically for himself and not for Nigerians. That's why I wouldn't nominate him.

D. President Bola Tinubu: With the kind of suffering Nigerians are currently going through, no thanks to his poorly calculated policies, coupled with the falling naira and inflation. And how he's shown little or no concern towards our plight. I don't think he deserves to be on this list. If we're to do away with tribalism and face reality, President Tinubu performed woefully this year. Let's hope his performance next year would improve for all our sakes.

E. Tems: To be honest, I don't really know much about her. But like Burna Boy, she's representing herself not Nigerians so she's not making my list.

F. The late MohBad: I never knew he even existed until his death. So he certainly cannot be my 2023 person of the year.

G. The Dangote Refinery: This was suppose to top my nomination list. But they never refined any petrol in 2023. Hopefully by 2024, when they start refining petrol and selling at an affordable rate, they'll top my list.

This my reply is about dangote refinery, it’s a business, a personal business meant to make profit. He’s not to sell at affordable price but the market price in which he will make profit. The whole idea of refinery in Nigeria is not to make petrol cheaper but to reduce the pressure on our dollar demand, giving our naira more value

Fearyourcreator:
Oguns get potential to be the the second best state in Nigeria... I say it boldly... They need good handlers like those in Lagos ...

All state has the potential to be the best with the to handlers.
The reason you see a lot of factories in Ogun state, it’s because it’s close to Lagos. Ogun is only benefiting from its proximity to Lagos.
What does ogun as a state has to offer that other state cannot.

Fearyourcreator:
Lolzzzz... I see jealousy... Well... Ogun only needed a visionary like those in charge of Lagos

Jealousy?

You are definitely a clown, if u think ogun state will become like Lagos.
I only ask a simple question, what’s the igr of Lagos compared to ogun state.
Ogun state is not even as developed as rivers so why should I be jealous. Ogbeni rest

Fearyourcreator:
Wealth

Look at the igr of Lagos and that of ogun if it comes close.
Rivers even has a higher igr than ogun.
There’s nothing about ogun that should make it be like lagos

Fearyourcreator:
I know you not from the west ... From that statement all this and that contributed to Lagos... Ogun most times comes second or third to virtually anything progressive to Lagos apart from oil in Nigeria...

What do you mean by this “Ogun most times comes second or third to virtually anything progressive to Lagos “

Explain

Fearyourcreator:
Oga I know Wetin I dey talk ... Ogun got everything to be like Lagos ...

You think it’s only Ogun that have everything to be like Lagos, have u been to delta or akwa Ibom or rivers?
What does Lagos has that delta doesn’t?
The only thing ogun has is proximity to Lagos n lots of factories.

Fearyourcreator:
Ogun supposed dey very very close to Lagos when it comes to development, nonsense governors , visionless governors since 1999

No state in Nigeria can come close to lagos. Lagos was build by the collective effort of all Nigerians, not Yoruba, Igbo or Hausa.

This is why other states will find it hard to be like Lagos, except Abuja which is also been built by the collective effort of all Nigerians

Catapault:
Go fck yourself, you lying bastard.

Cry today, cry forever

bennybuhari:
I hope this refinery will lead to drop in fuel price

It will not, the aim of this refinery is not to reduce fuel price, fuel price is determined by the international crude oil price, dangote doesn’t have control over that.
Fuel price might even go up but the good thing is that we will no longer use dollars to import fuel, that will give our Naira some value, and when dangote start to export the naira will even gain more to the dollars.

LordGuru1:
Definitely!!! I voted for Obi but now I'm beginning to Thank God that Tinubu won the Presidency. Just as he said that his economic reform would cause short initial stress but would soon make Nigerians smile from 2024 onward, happening exactly. Indeed, God shall use him to make Nigeria great.


You mean those that hate the Truth which Judiciary is already telling the one they are pushing into polical abyss.

This doesn’t make any sense, regardless of who won the election, Dangote refinery would have work. A 20 billion dollars refinery is too big to fail regardless of who won the elections.
You are sounding like if Peter Obi won the refinery wouldn’t have work.

Peter Obi will always make a better president than Tinubu anytime and day.

Catapault:
You are very stupid.

What was “edited to make it look beautiful”?

Edited how?

Stupid dunce.

You people just irritate me on this forum with your wretched inferiority complex.

Disgusting people with a filthy mindset.

Is your parent that's stupid

10mobile:
Catapault, you can do better reporting. Tell us a place in Lagos represented in each photo - like the twin tower. To be honest, I suspect that some of those pictures are not taken even in Africa.

But, if all these are Lagos, even if the photos are over edited, they are good to help us visualize having such a country.

Ok, that's mostly vi and lekki which is a very small fraction of lagos, I stay on the mainland and work on the island, I can see my office in this picture. But these are mostly edited to make it look more beautiful, the island is a good place and is actually beautiful but in general Lagos is just like every other state in Nigeria.
95 percent of us in lagos can afford to stay in places in these pictures even tho we work these, they are mainly foreign worker and politician, and some Nigerian billionaire leaving there. The rest of us just come work n leave.

santakris:
Can we then say the announcement is fake and BUA has not reduced anything?

Decrease in price, lead to increase in demand, making it unavailable.

MaxInDHouse:
That's better!

Whatever makes you agree with another man and do things wholeheartedly when all others think differently is your own RELIGION!

Nope that's not the definition of religion.

religion
/rɪˈlɪdʒ(ə)n/
noun
the belief in and worship of a superhuman power or powers, especially a God or gods.

Religion has nothing to do with argument, agreement or disagreement. It has to do with believing in a god.
All religion believe and worship one or more god.

I chose to disbelief and worship any god.

As long as there's no believe and no worship then is not a religion.

It's not an issue of who attack who and who agree with who.

Dtruthspeaker:
There you are proving your religion of antiGodism in denying even very basic Truths that are even splattered all over nairand. And of course, falsely accusing opponents of lying is another weapon of choice of atheist when they are cornered and have nothing to say.

Who has ever seen an atheist attacking an atheist over any issue that is against the tenets of antiGodism?

There has never been one.

So atheist should start attacking each other for no reason, people having same opinion on a Matter does mean they are in a religious group.

There might be a subject matter both of us agree on, I won't attack or oppose you when you speak on such matter but that doesn't mean we are in the same religious group.

Like I earlier said, you should use your head and think, but u refuse.

Dtruthspeaker:
Fellowship: Ever seen an atheist vehemently attack and oppose his fellow atheists? Never!

Followership: All atheists say the very same thing, in the very same way and almost word for word even.

Thus, disbelief, is a belief system of, a belief in the refusal to believe in God.

Ok, I have to stop here.
You are definitely projecting, and making ridiculous claims.
Can't be arguing with someone lying through their teeth.

Dtruthspeaker:
I have done my thinking and research and all religions always contain key ingredients to wit-
Regularity in pursuit, devotion, fellowship and followership to any subject of interest whether football o, or music or Godism or antiGodism.

religion
/rɪˈlɪdʒ(ə)n/
a pursuit or interest followed with great devotion.

Going by your explanation, where is the followership and fellowship in atheism.

Beside disbelief can not be a belief system.

MaxInDHouse:
People having the same opinion on matters so that they will act the same way due to what they've concluded unanimously.
That's what makes a religion!

For real?
People having same opinion on a matter is religion.

So if me and you agree on a subject matter that means we are in the same religion.

Omo, this is quite embarrassing, I give up on you

Dtruthspeaker:
An atheist too is not exempted. He is enslaved to a religion. The religion of antiGodism is his religion.

Lol, speaking jagun doesn't make you smart.
First of all think.
What makes a religion?

Naijaboy18:
The rest of Nigeria is enslaved to Islam or Christianity.

You must be a clown, the whole of Nigeria is enslave by religion, including you unless u are an atheist.

AsomughaChuks05:
This is an opportunity for Nigerian entrepreneurs to start local manufacturing of most of the things Nigeria imports. It is the only panacea to reverse high rate of joblessness in the economy. It is an apt response to the current situation of the economy. Check out Japan. They became the second largest economy in the world until recently by heavily devaluing their currency against the dollar. Tinubu is on the right path.

It's their nose they will use to manufacture

grandstar:
The fuel subsidy had to go. The unification of the rates was also non-negotiable.

If there's any problem on ground, there needs to be improvement. The price of petrol needs to be fully deregulated. Having to inform the public there is going to be a rise means a subsidy removal isn't enough.

As for forex unification, the CBN has done a half baked job. That is why a disparity still exist (though considerable smaller) and worse, the Naira is experiencing a free fall in value. This will affect the eventual selling price of petrol.

Nigeria is not the only country that pays subsidy.
The problem with subsidy was that our govt is too weak for fight the oil marketers, and there's no accurate data of Nigeria fuel consumption per day.

We are simply suffering from the failure of the govt.

Countries all over the world pay subsidy, especially for energy.
In Nigeria, pms seems to be our major source of energy due to nepa failure.
There's absolutely nothing wrong with paying for subsidy.

Holla911:
How could he have repaired the refineries while paying subsidy ?
One had to go for the other. We have no choice but to endure the difficult time while hoping and praying our leaders get it right.
The current hardship is a global pandemic.

Which kind lie be this?

You must be a very big fool if you believe that it's not possible to to repair the refinery while paying subsidy.

renderme:
Lol! She practically predicted Tinubu’s presidency since 2014.

What a prophecy! That’s the big deal.

We need people that will build Nigeria, not people that build their party. She praise him on the ground of building his political party for his political interests and not for Nigeria