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Nairaland Forum / Nairaland / General / Politics / Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired (12677 Views)
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Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Biodun556(m): 2:43pm On Jan 28, 2022 |
Of the 70 refineries licences that the Department of Petroleum Resources (DPR) has approved, only 30 are active, The Nation learnt on Tuesday.https://thenationonlineng.net/40-refinery-licences-not-active/amp/ 2 Likes
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Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Biodun556(m): 2:43pm On Jan 28, 2022 |
Dangote is a special human being and a God sent to Nigeria 26 Likes 1 Share |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Biodun556(m): 3:06pm On Jan 28, 2022 |
To those talking about monopoly, who stops them from building their own refinery? 40 Likes 2 Shares |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by okeysoninv: 3:08pm On Jan 28, 2022 |
lazy Nigerian industrialists, modular refinery with capacity 1000bpd cost less than 100k dollars to set up. 11 Likes 1 Share |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Biodun556(m): 3:10pm On Jan 28, 2022 |
okeysoninv: The reason why we need to appreciate dangote. He has mind. 32 Likes 2 Shares |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by okeysoninv: 3:16pm On Jan 28, 2022 |
Biodun556:sorry it's less than 100k USD.. dangote is a greedy mofo. 5 Likes |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by alizma: 3:22pm On Jan 28, 2022 |
Dangote this, Dangote that, what is holding other people with license from building their own refinery? Maybe Dangote bribe all the banks in the world and told them not to give others loan to build refinery. 23 Likes 1 Share |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Biodun556(m): 3:54pm On Jan 28, 2022 |
alizma: Dangote is a goal getter. Those ones are angry for nothing 24 Likes 2 Shares |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Lubumbashi: 4:50pm On Jan 28, 2022 |
Later they will accuse Dangote of being a monopolist. They used their own licenses to borrow billions from banks and ran away with the money while Dangote is jejely building his own. God bless Dangote Refineries, God bless Nigeria. 40 Likes 1 Share |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by FreeStuffsNG: 5:00pm On Jan 28, 2022 |
Biodun556:Yet,like Asiwaju Tinubu, he is hated and envied by a lot especially the ne'er do well by choice. At the Asiwaju Tinubu Colloquium, he was full of gratitude to Asiwaju Tinubu as the one who didn't allow him to abandon this great project we now celebrate today. He said he went to Asiwaju Tinubu and explained his predicament after HE Yardua cancelled the bid for the national refineries he had won. Asiwaju Tinubu comforted him and assure him that Lagos State will support him. Immediately, Asiwaju Tinubu started calling the people concerned and they brought out the map of the region of Lagos earlier designated for a future oil and gas hub . The rest is now history. That Dangote Refinery, according to Alhaji Dangote, GCON, is part of the legacy of Asiwaju Tinubu, a brilliant, visionary and patriotic Nigerian. Please vote for Asiwaju Tinubu. He is extremely capable and competent to lead Nigeria to greater heights. Thank you. May God bless you and may God bless Nigeria forever. Here's free book on business ideas & money sources directory for you,it's 100% free! https://www.nairaland.com/6666800/looking-business-ideas-money-fund. Cheers. 18 Likes 2 Shares
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Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by mrvitalis(m): 5:06pm On Jan 28, 2022 |
okeysoninv:Are u aware moduler refineries are ineffective and there fore can never make profit ? Most can't even produce patrol...just diesel ... Refinery like aviation is a very difficult industries to make profit from ...and the Nigeria downstream sector is to violatile for any investor to risk Let subsidy be removed ...Igbos would observe for a few years then we come in ... we are hated too much in this country to take useless risk ...they would make laws that would favour dangote for him to succeed ...boom we would benefit from those laws 8 Likes 1 Share |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by EastisBae: 5:33pm On Jan 28, 2022 |
FreeStuffsNG: What has a bullion van corrupt godfather has to do with modular refineries? Why not get busy with something meaningful in your life instead of supporting deadbeat fossils that has nothing to offer? 6 Likes 1 Share |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by INTEGRITYA1(m): 6:19pm On Jan 28, 2022 |
Okay |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by freelancerrr: 6:19pm On Jan 28, 2022 |
Imagine Selling fuel at #300, the hardship will be extreme. |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by visijo(m): 6:20pm On Jan 28, 2022 |
If you don't do stupid things while you're young, you'll have nothing to smile about when you're old.� 5 Likes |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Antoeni(m): 6:21pm On Jan 28, 2022 |
The Remaining 66 Should be Withdrawn. Simple 1 Like |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by samwillyco1(m): 6:22pm On Jan 28, 2022 |
Ok Why not allow all those bonkery or give them free licence and monitor their activities and quality of refined products 1 Like |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by AdeniyiA(m): 6:22pm On Jan 28, 2022 |
Only those who would deceive themselves would claim not to know that political bureaucratic bottlenecks must have been the bane of successfully completing those refineries. If you ask those who got the licenses, they would have one or two things to say about this... Nigeria is a funny country |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Nobody: 6:25pm On Jan 28, 2022 |
Simple reason why...subsidy It costs at least N200, at most N300 to refine one liter of fuel the standard way, if not higher....and most Nigerians and Buhari want that fuel to retail at N162.5 (Sorry, Buhari wants the fuel to sell at N40 per liter) Only hardy souls and someone like Dangote, who has the finances and assets to use as collateral to take a loan(, and the banks willing to give him the loan because they know they will get their money back las las)....build refineries. No investor is going to refine fuel at , say, N250 or N300 a liter and sell at the mythical N40 or the actual N162, and lose N90 per liter...plus the subsidy they pay to cover that loss, it won't cover the loss. That's why most of the investors don't want to start work. No profit, no means of recouping their investment because 'subsidy' means they would lose money well well. 4 Likes 1 Share |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by eyeses: 6:27pm On Jan 28, 2022 |
What is really wrong with this country |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by tommylee(m): 6:29pm On Jan 28, 2022 |
okeysoninv: If it were dat easy I would have built a modular refinery myself, my brother to build a 10,000bpd refinery cost nothing less than $300m and above google it and see u think its that easy 2 Likes |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Nobody: 6:31pm On Jan 28, 2022 |
okeysoninv: Good, so would the person refine fuel at a cost of above N200 per liter and sell it at N170, losing at least N30 per liter? Where is he going to recoup his losses...? Subsidy payments too won't be enough to cover the loss...and won't let the person make a profit. |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by JosephXavier: 6:33pm On Jan 28, 2022 |
A refinery should be cited in Anambra Orient refinery has the ability to build a 200,000 refinery if Federal government can give it the licence to operate |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Nobody: 6:35pm On Jan 28, 2022 |
Biodun556: Dangote can build a refinery, because he was able to take a loan to do so...and the banks gave him that loan because they know that if he fails to pay back the loan, they would simply take over his available assets...starting with his lucrative cement industry, and pay themselves back. With interest. Most of the others cannot access loans, because no bank is going to give them a loan. Because Nigerians' desire for cheap fuel means that the refinery they would build would operate at a loss...and they don't have the assets to use as collateral for the refinery...meaning banks won't see their money banks. Many of the banks who loaned money to the power sector...which cannot make profit because government made it hard for them to do so by price setting....are in big trobule now. Non-performing loans. That's why Buhari has to remove subsidy. |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by okeysoninv: 6:39pm On Jan 28, 2022 |
tommylee:you can search it in Alibaba. No argument here |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by CaptainAyub: 6:40pm On Jan 28, 2022 |
FreeStuffsNG:Your oga currently dey on admission for foreign hospital now oo,you dey here de dey for am 3 Likes |
Re: Only 4 Refineries Near Completion of 70 Licensed, Others Dormant Or Expired by Nobody: 6:43pm On Jan 28, 2022 |
mrvitalis: 1.Right about subsidy removal. 2. No one is going to make antiibo laws regarding refinery. Not when more refineries means lower prices for fuel and more jobs for all. No one stopped Innoson or air peace ( who this goverment is treating with favour ) 5 Likes 1 Share |
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