₦airaland Forum

descarado:
The refinery "project" was a means to launder money for both parties. The fight now is that some want the agreement to be overhauled and add their own % like those before them. And some people's images are being protected hence if mouth should start talking, we will see the shocking rot amongst them.

casualobserver:
Bad belle people. Invest, you won’t invest. You will take your money meant to develop the people and buy properties abroad and on side chicks and expensive whiskey and champagne. A man takes his money to invest and you want to pull him down.

My question again is did anyone stop anyone from building their own refinery?

Ngasky:
did you mention cement in a refinery construction setting? have a nice day

Electorate:
Just because you are anti-Dangote doesn't mean you should be dishing out lies like an assignment, Dangote never said Dangote refinery is the biggest refinery in the world but "one" of the biggest refinery in world and the "biggest single train" in the world...note the difference and stop being mischievous because you clearly hate the man.

Now name the biggest or largest "single train refinery" in the world that is bigger than Dangote... Jealousy and hate can make even the educated sound stvpid sometimes.

Eteka1:
you can't compare China prices to Europe/USA ones. Dangote refinery equipment is mostly European/US. So if the one in China costs $12B, it's reasonable that Dangote refinery (which has a larger capacity than the ones listed there) costs $19B 2 years later.

caye:
Check the bolded:
completed in 1999, cost about $6 billion


This is 2024.
It's value would had increased more than that.

RickyJesus:
Is it the same capacity and also can you compare the cost and nearestness of resources to be use and the labourer that would be fly in to over see the project. You lack critical thinking, don't bother replying.

Ngasky:
WHY ARE THE 3 CHINESE REFINERIES HAVING DIGFFERENT COSTS IN THE SAME COUNTRY?
now remember how easy it is to build in nigeria, the cost of the dredging, the cost of power plant the cost of sand filling, the cost of building roads to the company, the cost of amenities that are suppposed to be available in the first place by the government, the cost of settlement, importaion duties for every single bolt in the refinery, logistic of shippings of every single nut etc.
what will you arrive at?

Eteka1:
1999 and 2023/2024 na the same in terms of prices?

Ngasky:
Sorry you gave a cost at completion in the year 1999, how can one be so gullible? tell me one thing in the whole world that did not have a 500% increase from 1999 to 2023. infact by that estimation dangote refinery is very cheap in comparision.
check this out https://www.icirnigeria.org/economic-challenges-jack-up-dangote-refinerys-construction-cost-100/

dapotemi:
This is another brilliant submission by you sir/ma. I surely enjoy reading this but I disagree with some fact but I'll state just one for now due to time constraints...Dangote or any investor cannot compete with importers..
Nobody can compete with importers and 'importing' is actually not a biz, it's abnormal like Adesina said but we have made it normal...
Dangote refinery can compete with OTHER REFINERY!! Dangote cement is competing with BUA and others..
To be honest, leaving our oil supply to the hand of just one man is also scary but I believe reason, and I mean reasonably reason can prevail..There must be a way this thing can be done..We can have a win-win...
If you're producing/manufacturing anything in this country and you allow people to import same thing from abroad, that you plant will die, naturally.
What are the advantage of Dangote refinery to our economy on the long run? Do you know the forex we will save? Do you know how much we are loosing to all this importation?
I respect your view!

Kukutenla:
Another tissue of lies. I hope you are aware most of those businesses were already in existence and large before the anti-trust act of 1890. Now, to educate you further from previous thread, anti- trust law is not anti-dominance. You essentially don't understand what a monopoly means. If you have like four companies who now gather together to fix prices and influence the market to their advantage, this four companies, even while separate have created a monopoly. On the other hand, if you have a company like Walmart or Tesla that dominates the market but is not undermining competition, you can't call that a monopoly. Anti-trust is about fairness not your narrow view.
That said, your complaint about Dangote’s pricing is misplaced. He has not forced other cement manufacturers to use similar template. If his price is too high, why is Bua or WAPCO not taking advantage by lowering prices or don't they like to make money? Bua is stiff and even personal competition to Dangote.
The present issue is even worse. What you're essentially supporting is for Dangote to compete against govt aka NNPC who are not even producing but importing. How that makes sense to you, I don't know

Kukutenla:
It's now 70%. See how you quickly shifted goalpost when you realise Walmart actually own 60% of market shares, something you claim is an impossibility in the US. It's so obvious you don't know what anti- trust is all about.

Kukutenla:
How do you know for a fact that he inflated the cost of building his refinery? Is there a similar one built with less you can point to?
I said you're filled with hate more than logic

searchlight:
Pray for your president and the ZOO economy. You need that more.

Ilekokonit:
Looks like there is no hope for Nigeria - Convince me otherwise

I did not fully realize the extent of the damage that Nigeria's good for nothing billionaires cum economic saboteaurs and their equally demonic and corrupt Nigerian politicians have caused to the country once called Nigeria until this Dangote debacle of which we only know a tiny bit of what really transpired as both Dangote and the Nigerian Government dare not reveal even 1% of their shady deals with which they have sold our collective patrimony to themselves and their cronies - Dangote inclusive.

The NNPC Directors leeches got a loan of $2.76 billion to acquire a 20 per cent stake in the $20bn Dangote refinery but according to Dangote, NNPC no longer owns a 20 per cent stake in the Dangote refinery as they paid only $1.4bn and NNPC was meant to pay the $1.36bn balance in June, but did not fulfil the obligations and so, as at todays date, Nigeria owns only a 7.2% stake in the Dangote refinery.

What did the NNPC Directors do with the remaining $1.36bn they borrowed in Nigeria's name ?? The bastards have obviously shared it amongst their bleeding selves.

On another note, the $20bn price tag Dangote placed on the refinery was obviously over inflated by him as according to Seun Kuti a day ago on Youtube, a similar refinery sold in America around the same time complete with train track cost $2bn as against Dangotes $20bn price tag.

Today on Channels TV, Femi Falana said the IOC's (international oil companies) have resisted calls by Nigeria to install oil flow meters to measure how much oil they are pumping on a daily basis and this means that there is no measurement or record of how much of Nigeria's oil the IOC's are pumping out of Nigeria on a daily basis and Nigeria still claims to have a government ?

Additionally, Falana said in todays Channels interview that the IOC's owe Nigeria a backlog of $68bn in oil royalties that they are not willing to pay us in a hurry and successive Nigerian Governments lack the backbone to tackle the IOC's on this.

Someone has to convince me that there is hope for Nigeria and I don't mean religious waffle / wishful thinking

Lifestone:
I was expecting to read where you can specifically state where Dangote enjoy Monopoly rather your opinion was filled with the entitlement mentality that Dangote did not distribute his products to the masses for free.
You mentioned Cement for instance, before he built Obajana, only Elephant Cement (now Lafarage) was producing in Nigeria while the rest of the Country cement needs were met with importation. The last I know, it's not only Dangote that produces cement, why can't others reduce their prices?

Nobleou:
This is a 'Literary Nonsense', please do google the meaning of the quote phrase


Assignment for you:

Is Dangote richer than Nigeria's Government?

Why are the Refineries in Nigeria not functioning?

searchlight:
Zombie spotted

BitterTruth0001:
Bitter truths as always

First of all , I am a capitalist to the core and I am a supporter of big businesses as they drive innovation and push frontiers. I don’t support communism or socialist tendencies where you take from the rich and give to the poor. I don’t support palliatives if it’s not geared towards reviving individual productivity.

I believe in survival of the fittest . I believe in the reward of merit and so as such , I hate quota systems with a passion.

Having said all that , let’s look put on a neutral thinking cap and look at this issue , the man Aliko Dangote and the history of his business relations in Nigeria . Yes he is a capitalist but he did not achieve his astronomical success on a free and fair playing ground. He has operated outside the rules of fair competition at every opportunity virtually unchecked.

From cronyism to ethno-religious favouritism to quota system to downright fraud, the man has done everything but play fair.

Starting from the days of Babangida when he had a rice import monopoly for the entire country (on what basis) to the Buhari regime where the border was shut down to all businesses except for Dangote’s (and BUA’s), the government has essentially propped him up.

What about CBN FX fraud under Buhari? Should he be walking free? It’s noteworthy that the Emefiele is being prosecuted for all manner of fraud including FX dealings but one of the main beneficiaries of the said fraud is being celebrated as a national industrial icon !

Listen, I am not a fan of the Tinubu administration: they’re clueless on governance, they push massive propaganda, they’ve legalized thuggery and entrenched criminality in government , embarked on massive wastage and looting of public funds via white elephant projects and fraud-ridden palliative measures, not to mention the ethno-centric , “awa lokan” mindset that pervades their government.

Yes, yes and yes to all that . But on the issue of Dangote’s monopoly , they’re right . Infact , if all they’ve done is to accuse him of monopoly, then they’re going easy on him . The man should be charged for fraud in collusion with former CBN officials . He is not a saint . He does not deserve pity or mercy.

Shikena!

fergie001:
Femi Otedola