Dangote Shops For Additional ₦300 Billion To Finance Refinery - Business

Dangote Shops For Additional ₦300 Billion To Finance Refinery - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Dangote Shops For Additional ₦300 Billion To Finance Refinery (20269 Views)

1 2 3 4 Reply (Go Down)

Dangote Shops For Additional ₦300 Billion To Finance Refinery by Islie(op): 9:01am On Jun 27, 2022

Dangote Industries Limited (DIL) at the weekend opened an application list to raise up to N300 billion in medium-term debt funding from the Nigerian capital market.

The money is to finance the Dangote Petroleum Refinery being built in Lagos and due for completion in the first quarter of next year.

The firm, through a special purpose vehicle fund. Dangote Industries is offering two tranches of bonds to raise up to N150 billion, with a provision to scale up to the full size of its N300 billion registered bond issuance programme.

The book building- a register for prospective investors- for the N300 billion bond issuance is scheduled to close Thursday.

https://thenationonlineng.net/dangote-shops-for-additional-n300b-to-finance-refinery/

5 Likes 1 Share

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Aidejay(m): 9:27am On Jun 27, 2022

Inasmuch as I hope dangote fulfills this dream, I can't help but feel uneasy about this it's prolonged completion timeline. And more debt financing againnnn!

Dangote stated: “The refinery will commence operation by the third quarter of 2022. On the mechanical completion, we are almost finished but we have started hydro testing, almost 70 percent gone, hopefully before the end of third quarter, operation will commence.

I guess you can't rush greatness.

37 Likes 4 Shares

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Smithkafors(m): 9:38am On Jun 27, 2022

After the APC has destroyed Nigeria. Better pray APC doesn't come back if not you will need extra 1 trillion. ......Nigerian youths wake up.

57 Likes 1 Share

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Transcriber: 9:38am On Jun 27, 2022*

Nice

But his refinery is his problem

Completing it will only make him richer not the masses

His monopoly will only increase

coputa:
It will create employment opportunities for nigerians.Dangote is a job creator.

Indians that pay slave wages are also "job creators"
No?

18 Likes

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Transcriber: 9:38am On Jun 27, 2022*

Smithkafors:
After the APC has destroyed Nigeria.

How does this relate to the news?

Do you need glasses?

Smithkafors:
Yes, because the exchange rate has doubled. If he doesn't hurry up, he will need more naira to covert back to dollars to finance his company.
Dangote earns in Naira plus other African currencies and not in dollars. Despite getting dollars at way cheaper rates, he is still unable to complete his company. This will tell you how much damage has been done to the economy. Na the banks I pity, cause the financed the major part of the project.

so can you tell me how Obi will make the exchange rate lower?

Besides do you really want the refinery to work?
Or you've just found another avenue to whine?
How is PDP better than APC?

11 Likes 1 Share

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Transcriber: 9:40am On Jun 27, 2022

Just wait as those obidient guys turn this news into something about their god undecided

Fucking Dumbos

4 Likes 1 Share

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Smithkafors(m): 9:41am On Jun 27, 2022

Yes, because the exchange rate has doubled. If he doesn't hurry up, he will need more naira to covert back to dollars to finance his company.
Dangote earns in Naira plus other African currencies and not in dollars. Despite getting dollars at way cheaper rates, he is still unable to complete his company. This will tell you how much damage has been done to the economy. Na the banks I pity, cause the financed the major part of the project.

Transcriber:
How does this relate to the news?

Do you need glasses?

23 Likes

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Jlow2: 9:42am On Jun 27, 2022

With dollar at 180naira when the project started to 620 now, I can imagine when the project will be completed

35 Likes 1 Share

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by nedu666: 9:42am On Jun 27, 2022

Wetin concern us for dis matter

2 Likes

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Parachoko: 9:45am On Jun 27, 2022

Islie:
https://thenationonlineng.net/dangote-shops-for-additional-n300b-to-finance-refinery/

Lalasticlala

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Teeroyzimma: 9:48am On Jun 27, 2022

If you support Drugnubu then you need to be taken to a mental home.

Vote Peter Obi. Vote Labour Party.

42 Likes 1 Share

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by englishmart(m): 9:48am On Jun 27, 2022

Dangote is just a frontier. That refinery is a northern Nigerian project.

22 Likes

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Ancecoker(m): 9:49am On Jun 27, 2022

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by doctokwus: 9:49am On Jun 27, 2022

Hope this is not another scam because this is turning around to be a never ending money drain pipe.
After using the CBN and Nigerian government to almost single handedly fund his refinery all in the marketing gimmick of Nigeria being self sufficient in fuel and not importing the product,now another ₦300b is being requested from Nigerians.
This is looking like a high class pyramid scheme and even if it comes to fruition,petrol would be quite expensive because he has to fund all these loans and ₦165 may take ages by his calculation to pay back the humongous loans he has borrowed.

12 Likes 1 Share

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Ancecoker(m): 9:49am On Jun 27, 2022

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by ArewaNightmare: 9:49am On Jun 27, 2022

yet BUHARI has been borrowing billions and billions since 2015 and yet no single refinery to boast with

And a sensible person is telling us to vote APC again #Never

Buhari has humbled youths with frustration and we've decided to be OBIDIENT

26 Likes 1 Share

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Osaremwantaelvi(m): 9:49am On Jun 27, 2022

Wahala no too much

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Throwback: 9:49am On Jun 27, 2022

This the very reason the established oil importers refused to utilise the refinery license they secured.

Too much capital would be tied down to completing the project over many years. Then more years of operation before breaking even and making profit.

They decided to continue with their importation with an investment turnaround time of few months.

3 Likes

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Shellsploit: 9:50am On Jun 27, 2022

He should drop his acct number lemme see if i can send him 1billion naira to assist him.

5 Likes

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by MrHighSea: 9:50am On Jun 27, 2022

Feeding money
Fuel money
Dstv money
Transport money
School fees
Rent
Airtime/Data

Everything has redouble.

This is what Nigerians are facing but Tribal and Religious sentiments won't let some people agree.

12 Likes

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Ancecoker(m): 9:50am On Jun 27, 2022

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by PDPdestroyer(m): 9:50am On Jun 27, 2022

Been a while I saw anyone call Nigeria a 'zoo' on this forum
Where are all those monickers? grin

11 Likes

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Quiny32323: 9:51am On Jun 27, 2022

Oga you want solve ni

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by PrincessofDSS(f): 9:51am On Jun 27, 2022

Be sure to verify properly or don’t comeback here crying

1 Like

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by aylagos(m): 9:51am On Jun 27, 2022

It is expected

Re: Dangote Shops For Additional ₦300 Billion To Finance Refinery by Thinktwicemybro: 9:51am On Jun 27, 2022

They cannot support him to complete his refinery but they can pay 100 million naira for form.
Since they are benefiting from the importation of fuel why won't they fustrate dangote efforts.
Most of these politicians own shares in refinery abroad. White men are not that rich to own refinery. They invite your corrupt leaders to invest there.

Wake up, get your PVC and vote Peter obi

6 Likes