lordm:
Give more licences for others to build refineries.

Are they hoarding the license? The major marketers were giving license to build and option to lift but they choose to lift instead of building a refinery. It is sad that same citizens that criticizing Dangote are applauding these criminals marketers.
The problem of this country is the citizens.

Emocruize:
And some people are saying the refinary will make things worst

How is that even possible? Dumb citizens

Sold Out!

Nigeria has been utterly sold out to dangote and his cronies!

Funny aspect is:
His cronies cut across every geopolitical zone in this naija

dawnomike:
The CBN governor has become clueless...

Emefiele is very clueless if he is still saying the same thing he said in 2016 in The last quarter of 2022 because I believed 2021 is gone.

He is very clueless. He is a yes sir man that is why Jim Ovia trusted him to be used for indirect rule at Zenith Bank.

I have a lot of his essays which he wrote on Dangote refinery since 2016 that was when Dangote promised him the refinery will start to refine last quarter 2017. When the refinery date was shifted to 3rd quarter 2018, Emefiele wrote another essay. In fact Emefiele claimed with Dangote refinery, Nigeria will be the most developed country in Africa on all indices and the richest. He did various analysis. I was also a die hard supporter of Dangote refinery based on Emefiele analysis. I was abused, called names on nairaland and other social media. Our believe was that the Refinery would work before the end of Buhari first tenure for the economy to improve and shame Buhari's enemy before 2019 election.
Later, delivery date was shifted to 2019, later shifted to 2020. Now corona virus came, delivery date shifted to infinity because 2022 is not possible.

The support Dangote has received from FG is enormous. The good thing is that it brings luck to Abdulsamad Rabiu as Emefiele cannot deny him of same support.

Each time Emefiele speaks of Dangote refinery, a lot of financial support have been granted.

OgunLaakaye:


You are the clueless one here! You cannot comprehend simple logic!

An online lion but real life cat spotted.

Shameful. The refinery will not work. Huge elephant project . It won't work because of the Indians handling the project without supervision.

Commentor:
Which Nigerians are criticising?

The ones living in developed countries enjoying the comforts of colonialism.

In a sane country, this thing called the cbn governor would be booted out. The absurdity of relying on a private enterprise to save you is beyond laughable. But then, with a government this incompetent, nothing is a surprise anymore.

mu2sa2:
Domestic terrorists aka militants have sabotaged the pipelines carrying crude to those refineries.

More significantly, refined petroleum products are also stolen through the pipelines.
What that means is that Nigeria will just continue to refine petroleum products for some people to steal and sell at Petrol stations and also sell to neighboring West African countries like Niger and Benin republics, Cameroon, Mali, Chad etc.
Dangote refineries will not make the mistake of distributing his products through the pipelines. That is very sure!

izzy4shizzy:


I would if he were the president of Nigeria.
So for government to own their own functional refinery is out of place shey?

You want to sound smart but you are just ozzing ignorance

Which out of place?

Successive governments have not been able to manage our refineries because the bureaucracy, corruption and brigands is out of this world.

It would be foolhardy to continue doing the same thing that is evidently not working.

I posted a more detailed report a few days ago over in the business section. The new refinery will also process chemicals and fertilisers.

https://www.nairaland.com/6805049/dangote-refinery-save-nigeria-up

loswhite:
Are they hoarding the license? The major marketers were giving license to build and option to lift but they choose to lift instead of building a refinery. It is sad that same citizens that criticizing Dangote are applauding these criminals marketers.
The problem of this country is the citizens.

The so called Marketers prefer to steal refined petrol from the pipelines. That is what killed our refineries!

ceda99:
What happened to the other 4 refineries we have in this country?

Very powerful multinational companies have a scheme in place to keep Naija refineries non-functional with the help of our corrupt political elite. Hopefully the Dangote enterprise renders the NNPC obsolete.

https://en.wikipedia.org/wiki/Nigerian_National_Petroleum_Corporation

Nigerialabalaba:
CBN just ignore dem o, no listen to dem. Na God we take beg una for CBN.

Na dem, not you or Dangote, be d enemies of progress wey dey benefit for the forex manipulation.

As dem dey so, na to siddon dey talk but behind, dem go dey do worse pass even dat useless abokiforex Olumide wey hide for UK as British citizen and con dey manipulate forex and profiting from arbitrary rates he publishes with him fellow robbers yet dem no get a single manufacturing industry here for naija.


We wey be true Nigerians sabi wetin dey and no be enemy of progress. Some of dem steal money hia go use am build refinery for overseas and con dey collect fx here to take import the petrol com Naija.
Oga CBN governor Godwin Emefiele no mind dem o!

since the ban of abokifx has the Naira performed better?your Mumu never do

ramatintin:
since the ban of abokifx has the Naira performed better?your Mumu never do

You and your paale and grandpa wey born two generations of mumu na d mumu of the year. Una no go find beta work do you go dey look for how to thief.

OPEN LETTER TO GODWIN EMEFIELE CBN GOVERNOR

GODWIN EMEFIELE THE BANE OF NIGERIAN ECONOMY

Let us go into the nitty gritty of this letter without dilly dally.

The Nigerian economy under the current CBN governor have suffered abysmally in terms of growth, standard of living and cost of living all emanating from his snowball ability to incessantly devalue the Nigerian naira.
I know some economists would argue vaguely that he did it under the directive of President Buhari but we all know that the CBN is an autonomous institution and thus acts independently.

This his jaundiced inclination to devalue our naira as seen in him devaluing it from (160 to 360 and now recently which he calls multiplicatives from 360 to 380 to a dollar) is highly sickening and unpatriotic.

Unpatriotic in the sense that he is suppose to pilot the affairs of the CBN while putting Nigerian interest first instead of listening and implementing any iota of devaluation advice been spoonfed him by the IMF, World Bank et al.

I would say he just came in and spoilt the successes of his predecessors Prof. Soludo (who tried to revalue/appreciate our naira by reintroducing coins which didn't pull through due to its poor general acceptability) and Sanusi Lamido, for them devaluation was never an option, plus because they know when you devalue it is hard to revalue.

Going forward, his policies have greatly affected Nigerians badly in that what we could get in the market at lesser is now worth more than twice it's worth, thus low standard of living and high cost of living because the naira has lost its value and can't vie internationally.

Furthermore, his unsavoury regulation and control of FOREX in particular the dollar is nothing to write home about, because he now plays second fidel to the Bureau De Change.

Yes, the invisible hand of demand and supply would drive the price of the dollar but the CBN still retains ne plus ultra jurisdiction in its pricing, regulation and control. And to my sheer surprise the CBN is playing a second fidel in this role, in that, more percentage of the dollar is issued to the Bureau De Change making them have more control over the dollar pricing instead of issuing more percentages to the commercial banks that can follow and obey special directives (unlike the Bureau De Change) in their pricing and allowing greater allocations for Form Q so that businesses can get their dollar and its pricing from the CBN thus boosting businesses and the economy at large. Because if this is done the positive trickle down effect will be great in that it will translate into lower cost of goods sold domestically, low cost of living, and increase in the standard of living, and might just be what will revive the Nigerian economy once more.

Finally, I would implore the CBN governor to stop being obsequious to the IMF, World Bank, et al in matters bordering on devaluation and the Nigerian economy in all ramifications and be more patriotic and put Nigeria and Nigerians interests and welfare first in all its doings. So that Nigerians from all walks of life will feel the positive impact of his office and the institution he sire.

We need positive change.

Great policy makers.....Great.


From a very concerned Nigerian.

AUGUSTINE

I wrote this on April 22 2020 but at that time people didn't understand, at least now they do

aimmoney9:
OPEN LETTER TO GODWIN EMEFIELE CBN GOVERNOR

GODWIN EMEFIELE THE BANE OF NIGERIAN ECONOMY

Let us go into the nitty gritty of this letter without dilly dally.

The Nigerian economy under the current CBN governor have suffered abysmally in terms of growth, standard of living and cost of living all emanating from his snowball ability to incessantly devalue the Nigerian naira.
I know some economists would argue vaguely that he did it under the directive of President Buhari but we all know that the CBN is an autonomous institution and thus acts independently.

This his jaundiced inclination to devalue our naira as seen in him devaluing it from (160 to 360 and now recently which he calls multiplicatives from 360 to 380 to a dollar) is highly sickening and unpatriotic.

Unpatriotic in the sense that he is suppose to pilot the affairs of the CBN while putting Nigerian interest first instead of listening and implementing any iota of devaluation advice been spoonfed him by the IMF, World Bank et al.

I would say he just came in and spoilt the successes of his predecessors Prof. Soludo (who tried to revalue/appreciate our naira by reintroducing coins which didn't pull through due to its poor general acceptability) and Sanusi Lamido, for them devaluation was never an option, plus because they know when you devalue it is hard to revalue.

Going forward, his policies have greatly affected Nigerians badly in that what we could get in the market at lesser is now worth more than twice it's worth, thus low standard of living and high cost of living because the naira has lost its value and can't vie internationally.

Furthermore, his unsavoury regulation and control of FOREX in particular the dollar is nothing to write home about, because he now plays second fidel to the Bureau De Change.

Yes, the invisible hand of demand and supply would drive the price of the dollar but the CBN still retains ne plus ultra jurisdiction in its pricing, regulation and control. And to my sheer surprise the CBN is playing a second fidel in this role, in that, more percentage of the dollar is issued to the Bureau De Change making them have more control over the dollar pricing instead of issuing more percentages to the commercial banks that can follow and obey special directives (unlike the Bureau De Change) in their pricing and allowing greater allocations for Form Q so that businesses can get their dollar and its pricing from the CBN thus boosting businesses and the economy at large. Because if this is done the positive trickle down effect will be great in that it will translate into lower cost of goods sold domestically, low cost of living, and increase in the standard of living, and might just be what will revive the Nigerian economy once more.

Finally, I would implore the CBN governor to stop being obsequious to the IMF, World Bank, et al in matters bordering on devaluation and the Nigerian economy in all ramifications and be more patriotic and put Nigeria and Nigerians interests and welfare first in all its doings. So that Nigerians from all walks of life will feel the positive impact of his office and the institution he sire.

We need positive change.

Great policy makers.....Great.


From a very concerned Nigerian.

AUGUSTINE

Babanah:
Float the naira now and do not announce the date for the commencement of the refinery. Speculators will eventually get their fingers burnt. Those who understand how fickle fx rates are under floating regime will be mindful about the price they purchase dollars.

You are smart. but they won't do this cus they, their friends and their families are the speculators

ijustdey:


https://www.icirnigeria.org/nigerians-say-cbns-reliance-on-dangote-refinery-to-fix-nairas-free-fall-shameful/

Everyone should bookmark this, they keep shifting the goal post.
The same refinery that was used as a campaign strategy, with claims that it would be functioning by 2019, here we are still shifting the goal post.
When the world would have left us for electric cars, just imagine what these old rigid people are still thinking, we have really been left behind. Even Dangote has been left behind

lol. I thought this bubu's strange government promised nigerians to end fuel importation by building new refineries and upgrading the existing ones and that nigerians should not be buying fuel at more than #40 per liter, if only he was elected into office in 2015.
now 6yrs down the line, same Oga bubu have been in charge, no new refineries and old ones are not even functioning up to standard, despite billions of naira pumped into it, in the name of turnaround maintenance. fuel importation continues, as well as its necessitated price increase.
ultimately the best they can afford to give nigerians as regards this critical sector of the economy is to ask nigerians to place their hope on the individual effort of a private citizen.
this bubu's govt is a monumental failure, devoid of any form of integrity.

Oga u want Nigeria refinery to work but still don't want to buy fuel at the actual rate..
Subsidies killed the refinery not government... All these the refinery has never made shishi in profit to sustain itself because of the greed of Nigerians to buy fuel on a rate much lower than the actual rate.. and the government continued to subsidize until the refineries died...

Dangote is the only hope now..
FYI many license have been given to other people to build refineries..what did they do...
Abeg leave dangote and his monopoly....
Without dangote.. u know much we will spend on cement importation... Did dey tie any companies hands not to invest in any business dangote is into...
What about shell ,chevron..ask ur self... Why did dey build refineries with all the trillions they raked out of Nigeria..
This is to tell you that it is only patriotic Nigerians that can truly develop and invest in it..peace

izzy4shizzy:
Nigeria is the most backward country I have ever seen.

First, you own Refineries that don't refine a single drop of oil yet you spend millions to maintain.

Now you want to monopolize oil to one man because of your incompetence and you brag about it saving you import Fx,

They should just kukuma sell Nigeria to Dangote.

Modified

Those of you quoting me and saying nonsense, so it's wrong for our government to own their own functioning refinery shey?

You people just want to seem smart but the opposite is the case, I pity those people/animals that would still defend buhari

Don't be daft...petrol isn't the only product from crude..
Electricity can be generated...in short.. Listen to me ..over 50% of what u own has it raw materials from crude oil..from plastics to ur cheap nylon clothes even the fertilizer for the food you eat...

Don't limit ur scope to Petro alone...what about aviation fuel ,diesel ,tar...

Heavance:

Everyone should bookmark this, they keep shifting the goal post.
The same refinery that was used as a campaign strategy, with claims that it would be functioning by 2019, here we are still shifting the goal post.
When the world would have left us for electric cars, just imagine what these old rigid people are still thinking, we have really been left behind. Even Dangote has been left behind

Private sector is everything now in this era...

Aether:
In a sane country, this thing called the cbn governor would be booted out. The absurdity of relying on a private enterprise to save you is beyond laughable. But then, with a government this incompetent, nothing is a surprise anymore.

Which latest innovation...be hallucinating...
Can Nigerians afford brand new petrol cars not to talk of 3rd hand electric cars....
We are still much dependent on petrol ..the same as Africa....so the innovation needed to be self reliant is to build a refinery... Anything u do short of that is beating around the Bush

whitenoiseng:
its very insufficient and secondly Dangote as a business is out to make profit , giving the company monopoly to a national natural resource is absurd and questionable.
Besides can't we explore other resources ? and also try to at least catch up with latest innovations and grow with them

The multinational oil companies only focus on the upstream sector u cannot force them to develop the downstream sector..

Secondly they will rather pack their company and leave the country than to invest in a sector where government pay subsidiaries and they can not have freedom to fix their own profit.

No state government has shown that will to build a refinery.. So don't complain about Fg not support...
CBN, NNPC and FG has supported dangote for that refinery to see the light of the day

samwillyco1:


The simple truth is that we have bad and incompetent leaders in almost all the Government parasatals, why not make a good and simple law and save NIGERIA from fuel importation. For example mandate all these multi-national oil companies to build refineries here in NIGERIA or leave the countries oil business, secondly support some states to build refineries/privatize Government owned refineries and see the issue of fuel importation to go extinct with a year or more

Some mischievous Nigerians criticised turn around maintenance, they criticised total renovation, they criticised sale of the Nigerian refinery, now they're criticising Dangote refinery. Let them criticise.

higgs:
If Nigeria had 5 more Dangotes,it would have been a vastly better place.Those hoping that FG/Nnpc will suddenly start running their refineries efficiently are really naive.Eventually,the government refineries will be sold as scrap.The right way to go is to encourage more investors to invest in Nigerian manufacturing,not just Dangote.

but how can naija have like 5 more dangotes , when dangote and all the governments ensure he puts everyone in a choke hold, discouraging competition..

Do you know how much power Dangote has? He kills businesses of others once he steps into a sector.

loswhite:
Are they hoarding the license? The major marketers were giving license to build and option to lift but they choose to lift instead of building a refinery. It is sad that same citizens that criticizing Dangote are applauding these criminals marketers.
The problem of this country is the citizens.

and when you give more licenses where would these folks obtain forex to secure loans to build these refineries..the same government would supply dangote with majority of the available forex for him to build his refinery...

Dangote in most cases takes it all whilst other businesses bear the brunt of the harsh economy..

Do you know what it takes to do business in Nigeria? Sourcing for forex?

What is wrong with this Nigerians,I actually think CBN reliance on dangote refinery is actually a good idea. If more Nigerians can create export Nd Forex products,it would help the naira alot. We don't have to wait for the govt all the time..Dumb are those who say they are letting dangote monopolize oil.

bayelsaowei:
and when you give more licenses where would these folks obtain forex to secure loans to build these refineries..the same government would supply dangote with majority of the available forex for him to build his refinery...

Dangote in most cases takes it all whilst other businesses bear the brunt of the harsh economy..

Do you know what it takes to do business in Nigeria? Sourcing for forex?

The license was issued long time ago during Obasanjo's time. It has nothing to do with forex but greed and quick profit. The average Nigerian business man wants instant returns with little or no investment.

It is what it is. We are where we are: only Dangote Refinery can save us in the short term.
QED.
#failedgovernment#failedleaders#failedcitizens#failedcountry