₦airaland Forum

Willie2015:
j on. Anyone that want to compete with da Dangote should go ahead and establish his refinery. The sky is enough for everyone to fly.. .. BUA is already doing that..... and no one has chased him out. We have enough billionaires that can compete if they have the guts... Elumelu.... Ovia.. Otedola.. Adenuga etc. To continue to grant import licenses to kill local production is a simple No in this season. FG need to ramp up it's supervisory role in encouraging health competition and reduce monopolistic tendencies. We need to kick out cabals out of every sector in Nigeria...those guys are doing more harm by chasing out foreign investors.. .. No foreign investor can fight these cabals the way Dangote is hitting them hard.da

peleson1:
The subsidized dollar was a government policy to help Dangote on the refinery .
The regulatory agency farouk was in charge could not enforce or do the right thing . Instead he was grossly corrupt.. it's usual with Nigeria officials under APC .
Dangote is a business man
If farouk has a case against Dangote he should state it .. he was a government official saddled with such responsibility

Gotocourt:
Hope you know lots of FDI was involved in building the refinery 📌💯. About 80% came from Europe

heysquare:
Me and you will complain of youths unemployment and when a patriot put all his life to create a business which others couldn't and be the only one doing the business, we will against the business and tagged it monopoly. What has happened to other 47 licence given to people to build refinery? They preferred importing rather than building theirs to provide job for youths and improve the economy. Would you have said what you're saying if you were employed in dangote refinery? Since when Donald Trump came to power all he has been busy doing is how to protect US economy by snapping tarrif on other countries recklessly and no American ever complained regarding that.

P1PrinceKT:
Even you will not agree to nationalise 30-40% of that refinery because it will die.
What happens to the other national refineries.

chipet67:
Build your own and make petrol free. Una own na to dey speak grammar with disjointed analysis.

idonhammer:
Then farouk and his criminal gangs should exposed him tooDey play

peleson1:
Farouk is not the villain
He is a very corrupt official like every other official especially in this APC
Dangote is a business man so it should be officials like farouk that should be able to stop Dangote and enforce the laws .
Understand this No sentiment

peleson1:
Why you are correct, farouk didn't fight for the masses , he connived to short change the masses .
Farouk didn't stop Dangote from trying to sell petrol high and not at subsidized rate instead he was milking the system as usual with the thriving public office holders in Nigeria and in APC

nairalanda1:
Like I said, most of his funding did not come from government. And he says he has paid back the cbn loan.You guys, would you like government controlling part of your business? It's like you don't get why we have economic issues ...socialism a la carte

nairalanda1:
1. Nationalize refineries? You know that is a big reason why NNPC refineries don't work.
2. Funding for dangote refinery came mainly from loans from banks, local and international and the African development bank as well as some of his own money. CBN money was not the main source of income and has since been paid back.

HacheNoire:
Please!
Elon and Waton are the biggest shareholders of the Tesla and Walmart respectively. They call the shots on everything
Dangote is less than 5 years old and going public next year. So what exactly has he done differently from Tesla and Walmart, or what specifics are you still complaining about? That he should go public from day 1? Who does that?

life707:
Do foreign investors earn in naira that you are using naira exchange as a benchmark for a wacked analysis?

HacheNoire:
Is Tesla or SpaceX nationalized? Does Tesla or Walmart have same concessional guarantee despite the huge tax incentives they receive?
A public offer is coming up next year and that’s the best expected of him. Nigerias money is not involved. The government invested and same investment can still be sold.

HacheNoire:
Hello Sir,

That is how it is done all over the world. Big employers get big subsidies and tax incentives.

The US will support you with everything if you show proof you ready to build same in the USA.

It’s the play and not peculiar to Dangote or Nigeria

Babalegba:
You are not making any sense.

123papas:
Dollar was not subsidized, Sir. That was the price of dollars then. BAT floated the dollars instead of dealing with the issues.

iLoveYouToo:
This isn't the scenario for this Oga. How's he milking the country dry when his product is the cheapest now? I tire for you o

iLoveYouToo:
What stops these other guys from building refineries? Must we import to death when locally alternatives exist? Noone is putting importers out of business, it's only right that they downsize. Your likes would rather see the refinery fail then you'll come here to write long epistles about and celebrate Dangite's failure.
I didn't see you complaining about the taxes government placed on other imported commodities that Nigeria produces locally.
Whether you like it or not, this refinery must survive.
If I may ask, why didn't Nigeria's refineries work for 25+ years? Redundancy right? So we can have many importers flood the market and bleed the country dry.
Let's have what other fancy words you have to back up your import cartels. I won't be surprised if you work for an importer. Better advise your employers to shape up or they'll be out of business soon.
I've not seen where people force importation to plug shortages that do not exist.
For now, Dangote can fullifll most of our local demand. Why not encourage and support him?
Import tax on imported petroleum products which are produced locally MUST be implemented.

Housing:
Dangote did no wrong, a foreign investor would have requested for NO IMPORTATION GUARANTEE FOR THE FIRST FIVE YEAR OF THE REFINERY OPERATIONS with Price Determining Committee. Farouk must be investigated and prosecuted if found culpable.

Dangote Refinery is Nigeria's Energy Security backbone and must be protected jealously

InMyOpinion:
Not sure you can prove that he received dollars illegally. Under Buhari and other heads of state before him, Nigeria maintained multiple exchange rate windows for various scenarios and the dollar was generally subsidized (that is why you often heard things like "defending the Naira" - so many people (industrialists, Students, and of course political associates) received subsidized dollars. it may not have been right but it was not illegal. In the case of Dangote refinery, government was also investing in the refinery for a 20% stake (although i understand NNPC has now reduced its stake to about 7% of so)

Vifx:
America has no choice but to import because most of their refineries are built to process heavy crude efficiently meanwhile their own crude is light, which is why they mostly export their own crude and import heavy crude oil from Canada for their own refineries...
So you really think America doesnt have the money to build refineries to process light crude ? Thats not the case, the truth as many people dont know is that the profit on refineries is marginal. Most times its cheaper for the USA to import than refine locally at home.

And again America has multiple refineries while Nigeria didn't have any functional refineries till Dangote stepped in.
And it seems you are getting all this mixed up so
For even more specificity America doesn't rely 100% on imported PMS and other already refined oil products.
What you are championing here is that we keep importing refined crude which is not going to give anyone the incentive to invest and built any refinery in Nigeria.
Nigeria powers itself with NEPA + Solar + Generator. If we the government bans solar and generator because, we want NEPA to succeed.If NEPA starts charging us 1 million naira per month. We are stuck. Canceling imports because Dangote refinery is not a good strategy. 5 years from now. Dangote can imprison us with prices. Market has to be open. Government can help him with import waivers and other concessions but not giving him monopoly.

Look at it like rice paradox... As an investor why would I bother getting a rice farm and mill and going through all the cost of production in Nigeria that will take more than a year when I can easily import rice from Thailand and get huge profit with 6 months
Guess who was the biggest rice importer in the early 80's. Dangote was !! Why did the people planting rice on their farms not ask the government at that point to ban him from importing rice ?

I hope you get it now

iLoveYouToo:
Your disposition is really surprising to me. He was given dollars at a subsidized rate to support the refinery okay? How does a this justify your defense of the rot he is trying to expose? If government decides to support local refineries, how is that a crime? Show me the fraud Dangote has committed. In fact, I dare you to post your real identity and post this on Twitter if you have proof Dangote colluded with anyone to defraud this country. I dare you. I'd love to see you prove this in court. Whataboutism doesn't prove smartness

GEJDHERO:
What are u saying...stop confusing ursef.Am talking about the huge amount of dollars that wud be saved if IMPORTATION OF FUEL STOPS

Omenlon:
who is stopping who? why imports, what is wrong in encouraging those with licences to build refineries to build theirs. Come to think of it, who is stopping others from setting up their refineries? BUA is working on his own in akwa ibom, where are the " is our oil" business men and women, that aboki are taking over the business. You people should rest with una bad belle.

GEJDHERO:
Importation of Petroleum products its seriously depleting our Foreign exchange reserve.

vanchi:
which Nigerian are you referring to?

fatosky1:
For Dangote holding to hold Farouk by the jugular with intention to destroy and kill his career, Farouk must be a man who did not yield to his control and manipulation to benefit an individual but overall interest of the masses.
He used crooked ways to maintain dominance in the cement market despite big names that are in the market before him, the likes of Portland cement now Lafarge, BUA, Benue cement etc
He will not succeed this time because his antics are known already. Farouk will prevail, that is my prayers for him.

GEJDHERO:
We want the MONOPOLY it wud save Nigeria Billions of dollars in foreign exchange.

TheBizGenius:
I would not have responded to your comment but people are already endorsing and validating it.

Your comment is wrong. And I'm guessing your bias is because you are not a "learned" business man.

Every business on earth seeks to eliminate ALL competition using business strategies. It is a course in business school.

Government steps in if the company is stifling other businesses on its level. For example, Mr. Biggs can be indicted for monopoly against Tantalizers but not against bus stop foofoo sellers.

In Aliko's case, is there a refinery it is creating a monopoly against? It can't be against importers. You can't indict VAVA, a Nigerian furniture maker, for trying to ban importation of home furnitures even if the importers are crying.

If you must explain to people, do so from the point of acquired expertise not opinions.

STEWpid:
Your manner of reasoning lacks any form of trueness and objectivity,,
Is your reasons above the reason why Farouk must loot too?
Must we buy from Dangote if our refineries are working?
Are you a paid agent sent to defend theis particular topic/rubbish on naiyayand?
What about others that are also coming to build refineries?
Do you think Farouk & co don't own refineries or been major stakeholders in Malta and elsewhere, a strong reason why Nigerian refineries will never work?
Please, I am more enlightened to be deceived by the monopolistic card play on Dangote because he has never stopped anyone from establishing the same business.
Dangote has been the only private business man to tackle the cabals in the petroleum sector by establishing the business in Nigeria instead of establishing it elsewhere and work with Farouk to support importation.
When you fight corruption, the same corruption will fight you back!!
Chai..