₦airaland Forum

Shattuck:
I thought you guys were pretending to be dangote's cheerleaders now that he is receiving the heat from the govt why aren't you guys speaking up for him and criticize the govt for trying to sabotage his business, guess your love for dangote has been hypocritical all the way.

Believeintruth:
Oga stop this games here there is a monopoly there.

uniquetechng:
In the refinery, we did not, and I repeat, we did not collect one single incentive from the Federal Government of Nigeria or even Lagos State.

“Yes, the Lagos State gave us a good deal but we paid $100m for the land. It wasn’t free land; we paid for it.” - Dangote On the issue of monopoly.

Shattuck:
first when tinubu first came to power you all praised him for the dangote's refinery setting a date for fuel production,now that it isn't what you hoped it is only fair tinubu also takes part of the blame, 2 it is obvious the govt is reluctant to assist him, calling his product inferior, rather than support him.

buttlover:
He should gettout joor the level of priority given to him is too much. Cement wouldn't have been this cost if other willing companies are licenced to produce cement

slowice:
You know nothing

bdon123:
I tink u are wrong.i hate tinubu govt or buharis bt i still hope they succeed.Dangote refinery promised us premium fuel that has never been sold in naija before n i believe he will deliver.I am an oil and gas expert so ano that most petrol imported into naija are rejected standard around d world.Also,why is tinubu starving dangote refinery of crude?

Shattuck:
the world can now see who truly are the enemies of Nigeria, why is tinubu bent on destroying dangote's refinery, if you love dangote so much why not call out your druggie president.

brain54:
Well, because his government...

Or at least cabals in his government are obviously sabotaging Dangote's efforts at building a refinery that would profit Nigerians.

For Dangote a core capitalist to make this kind of statement then you have to understand the level of his frustrations.

He already made it clear that after the refinery becomes operational he would go into steel manufacturing.

My disappointment in Tinubu is his inability to give Dangote the needed support to run smoothly especially considering the importance of a working refinery and steel production in the Nigerian economy presently.

[b]His government through NNPC[/b]has gone to the extent of telling lies about the quality of Dangote's refined products.

ChybuzzDD:
The hate is part of you and has been in your nature and we already know that.

So, no need to pretend about it

slowice:
Are you a child? What is the production capacity of portharcourt refinery? Even if all our refinery work today in full capacity they won't be able meet half of our demands.

brain54:
I have no words to describe my deep disappointment in Tinubu...

And his government right now!

akingangan:
I have been a strong advocate for Tinubu but i cannot support all these wrong decisions.
It looks like the President needs to change is advisers

Believeintruth:
You see you are being ignorant here. In the past cement was being imported in Nigeria. Then Dangote decided to build and invest in cement production. At that time Nigeria started backward integration for cement production and banned importation, this gave Dangote first mover advantage which allowed him to dictate price movements in the cement industry. Now government should have put controls to limit this and discourage anti trust activities but government turned a blind eye and as such he achieved cement monopoly.
Lafarge and BUA only have to follow the price dictator to ensure profits. In other countries Dangote cement struggles why because he wouldn't get that kind of privileged treatment he gets in Nigeria. Check out all the sectors he competes in where he doesn't have first mover advantage or the ability to capitalise on government influence, like in flour he couldn't compete and had to sell to flour Mills, the same with noodles he had to sell to Indomie.

This is the same script he wants to play in the oil and gas industry, but unfortunately the oil industry guys wouldn't be having it, so it is a case of a cabal and a monopolistic person fighting each other, none of them have the interest of the nation or its citizens at heart.

Believeintruth:
You again, desperately peddling news to launder the image of this administration.

slimjohn2k5:
Fake figures

Believeintruth:
Dangote obviously wants monopoly, similar to what he has been enjoying in Cement business, buy the issue is he has to content with the boys who have controlled the industry especially downstream. None of them have Nigerians at heart oooo, make no mistake about it.
Once Dangote gets his wish he will use first mover advantage to ensure he controls the market forcing other competitors to play ball to ensure their profit stream, because refining is capital intensive and dangote knows any refiner coming after him cannot afford a price war and as such will have to tow the line with his prices to ensure profit stability.

Teymanhenry:
He has openly announced that he will sell petrol at less than N400 per liter. On hearing that, they are doing everything possible to bring down his refinery. These people want to rip us by any means.

kettykin:
I have lived many places in lagos and I can tell you without iota of doubt that my hamlet in the village in the east is far more beautiful, serene, aesthetic than 95% of what is in lagos. When we say things like this, I looks like a joke and boast to some people . Standards in the east is higher than in lagos. If not for the federal government efforts nothing would have been written about lagos

Nigeria foreign exchange reserve has increased to $35.93bn as of July 18 despite predictions of a slump. This represents a gain of $160 from the previous day’s figure of $35.77bn.

The country’s foreign exchange reserves had been steadily increasing over the past two weeks, with a cumulative gain of over $1.2bn.

As of July 18, 2024, the reserves stood at $35.92bn, up from $34.65bn on July 4, 2024. The reserves have also risen over the past 14 days, with an increase of $160m from July 17 to July 18, 2024.

Experts noted that this positive trend was a welcome development for the Nigerian economy, which had faced challenges in recent times due to declining oil prices and other external factors.

Financial experts have attributed the increase in FX reserve to several factors, including improved oil prices, increased diaspora remittances, and foreign investment inflows.

An economist at Lotus Beta Analytics Shadrach Israel stated, “The reliance on improved oil prices, diaspora remittances, and foreign investment inflows may not be sustainable in the long term.

“It is crucial for the Nigerian government to continue implementing policies that promote diversification, support non-oil exports, and address the underlying structural issues in the economy.”

“Otherwise, this recent gain in FX reserves may be short-lived, and the economy may struggle to withstand future challenges,” he added.

An FX market analyst at London-based Ballinger & Co. Kyle Chapman, stated in a Reuters publication that, “a backlog of unsettled forwards, undelivered promises of dollar inflows and a two-decade peak in inflation have translated into a tumultuous year for the naira, which has lost over 50% of its value to become the third worst-performing global currency in 2023.”

In contrast to the positive trend in the recent increase, the Central Bank of Nigeria had projected that the external reserves could reduce slightly in 2024 on the back of debt service and other obligations.

The Governor of the CBN, Olayemi Cardoso, stated that, “the bank would extend its monetary policy tightening stance to tame rising inflation and sustain reforms to strengthen the foreign exchange market.”

An economist at Phemmy Gracey, limited Olufemi Idris stated that, “the growth in foreign exchange reserves is expected to have a positive impact on the Nigerian economy, including stabilising the exchange rate, improving liquidity in the foreign exchange market, and enhancing the country’s creditworthiness.”

Eriokanmi:
Look at those defending the government officials who made the false claim. They're all apc supporters. They're the enemies of Nigeria, the country which they claimed they love passionately. Have you ever wondered why they didn't allow any of our refineries to work despite spending billions somce 2015? What we're seeing today is the reason.

Hadeylex:
If protests are a constitutional right of Nigerians to drive home their grievances or react to negative policies of the government, then why is it that the APC-led government right from the time of Muhammadu Buhari till now ìs always against protests and subsequently clamps down on protesters as well as organisers of protests?

On many occasions, the government is known to sponsor thugs who infiltrate the protesters thereby causing mayhem and destruction of properties, just to create the impression that such protests are not peaceful or are highjacked by unscrupulous elements.

Since the news of the planned protests for August became public, the current leadership has been rattled. The question now is: shouldn't there be protests any more? Has protest been removed from the constitutional rights of Nigerians?

Malroux:
Explain again? Hurry up ok.

Beverlyjean:
Wait till Dangote has total monopoly of the market ...then u will know those marketers are saints

TheDemola:
It's just unfortunate why the cabals wants to sabotage this huge refinery.

People are talking about monopoly when the fact is that this govt just wants to frustrate Dangote because he didn't support Tinubu's election.

During this visit yesterday, I reliably gathered that diesel samples from Matrix and Total were tested in the lab,, and produced 1860 and 2861 ppm sulphur respectively, compared to Dangote's 87ppm. Even samples from the MHC which started operations later in the afternoon yesterday gave 35ppm sulphur. We all know the obvious. No wonder Dangote said oil cabals are worse than cocaine cabals

Bobloco:
Protests will always remain a legitimate instrument of democracy for raising the voice of citizens.

Tinubu and his allies sponsored and organised protests and civil disobedience, including threatening to form parallel governments against the Goodluck Jonathan government, and they did all these acts without being disturbed; no one called them ethnic bigots or brought ethnicity into it; no one threatened them or even charged them for treason.


Tinubu, as president of Nigeria today, is now afraid of protests, as these were the same instruments he, together with his allies, used against the Goodluck Jonathan government.