Throwback:
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.

Transcriber:
Nice
But his refinery is his problem
Completing it will only make him richer not the masses
His monopoly will only increase

Transcriber:
Nice

But his refinery is his problem

Completing it will only make him richer not the masses

His monopoly will only increase

Aidejay:
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!



I guess you can't rush greatness.

maasoap:


You said this because you are shallow in thinking.
That refinery, not yet completed but has provided jobs for hundreds already if not thousands. Some were even sent abroad. When completed and start operation, just think about the number of direct employments and indirect ones.
What about the availability of the petrol and other products irrespective of the prices?
The issue of too much demand for forex is there, naira may gain against dollar

JoeNL22:

That is why they(FG) need to give them tax reliefs and tax holidays, after that!, FG should act as an investor and not a lender. When this is done. It will motivate people to invest in building refineries all over the country. The government will just tell them to have a certain amount of money before they start a refinery. Just like the banks are demanded to have 25 billion before they can be given full operational license to operate as a financial institution in Nigeria.

The solution is right in front of them. But they won't act on it. Because some bastards are benefiting from the way Nigeria is operating.

Transcriber:
you're talking nonsense
You don't know much about the disadvantages of capitalism
That's why you're saying rubbish
The Indians that basically make employees slaves don't do all those you said?

Truth234:


What led to this issue was the fact that he had to construct most of what they needed. He built a port specifically for the refinery after they discovered Nigerian ports can't take delivery of most of the huge equipment they need.

Those were not budgeted for. He also constructed several roads. One is over 131 km. Also, this explains why he sold 20% to Federal Government. Dangote needs this additional N300 billion to complete the project.

quentin06:


You guys dont ask yourself, where is he going to get the crude to refine petrol, look its not a refinery, but a depot for finish petroleum products.

Truth234:


Lol... Nigeria of course. Nigeria's crude oil production is presently at 1.42mbpd (our lowest in years). Dangote refinery is a 600,000 barrel capacity. In fact, it is better to sell to him than to export abroad given the process and logistic cost.

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

Truth234:


You can't give a tax credit to a company that is not operational. Dangote received a lot of tax credits. Even Oando which posted N133 billion lost in 2020 received N170 billion in tax credit.

Government is an investor in the Dangote refinery. FG acquired 20% via NNPC.

Another issue, is the fact that the Federal Government does not have money to invest in capital expensive projects. What is our foreign reserves? Our estimated fuel subsidy expenses for this year alone is N5 trillion. That is the money we should be using to finance new infrastructure projects, etc.

maasoap:


You said this because you are shallow in thinking.
That refinery, not yet completed but has provided jobs for hundreds already if not thousands. Some were even sent abroad. When completed and start operation, just think about the number of direct employments and indirect ones.
What about the availability of the petrol and other products irrespective of the prices?
The issue of too much demand for forex is there, naira may gain against dollar

maasoap:

Your government failed to maintain four refineries. Many industrialists obtained licences to build refineries but couldn't embark upon it. We now have one man doing it and you already termed him greedy and already seen the beginning of his end. Lol, Nigerians and their shallow thoughts never disappoint.
Dangote already invested in agriculture, what about you? How much is your investment in agriculture? Easier said than done.

quentin06:


He is not going to refine any crude oil, look at the logistics, a refinery like that should have been situated closer to its source of raw materials.

Its just a big tank farm for finished petroleum products which will be imported.

JoeNL22:


Yes I know. What I meant is when the are operational, you give them the tax credit.

How can you post a loss of (37 billion) after receiving such tax credits. It shows the management of Oando does not have an idea of what they are doing, and henceforth they should be sacked.

The bastard people don't have money to spend on capital intensive projects that will benefit the people and build Nigeria, but they(FG) have money to be giving themselves huge amounts of money has salary (13 million) for senator alone. I wonder how much the Senate and vice presidents and the president be collecting?.

Then the question is, why are they their in the first place when they can't make things work. Throughly accountability is minus ZERO in Nigeria or rather "ZOOGERIA"

Transcriber:

How does this relate to the news?

Do you need glasses?
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?

maasoap:


Your government failed to maintain four refineries. Many industrialists obtained licences to build refineries but couldn't embark upon it. We now have one man doing it and you already termed him greedy and already seen the beginning of his end. Lol, Nigerians and their shallow thoughts never disappoint.
Dangote already invested in agriculture, what about you? How much is your investment in agriculture? Easier said than done.

HRMK:
WHY ARE YOU SO DUMB!SO THAT THE LUNATIC NIGER DELTA MILITANTS AND IPOB/ESN BOYS CULD GET IT DESTROYED!YEYE!!

Truth234:


The bolded is one thing all of us should be screaming. Too many incompetent leaders. Imagine, Oando is now trying to buy minority shareholders that were exposing them, and once that is done, the management said the company would be delisted from the stock market. With that, they will not be mandated to release their financial statements. That is how the entire Nigerian system operates.

Few people like Dangote are facing challenges because they based their investment on available government data. Those data are fake and highly incorrect. It was the same when he invested over $100 million in a tomato processing factory.

He did base on fake data that over 70% of farm produces rut on the farm. Several of the reports claimed a processing factory will help reduce wastage and reduce importation.

A few years after launching the processing factory continued to struggle for raw materials and has been shut down several times for lack of raw materials. Where is the 70% of farm produce wasting?

Jlow2:
With dollar at 180naira when the project started to 620 now, I can imagine when the project will be completed

Throwback:
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.

Truth234:


The bolded is one thing all of us should be screaming. Too many incompetent leaders. Imagine, Oando is now trying to buy minority shareholders that were exposing them, and once that is done, the management said the company would be delisted from the stock market. With that, they will not be mandated to release their financial statements. That is how the entire Nigerian system operates.

Few people like Dangote are facing challenges because they based their investment on available government data. Those data are fake and highly incorrect. It was the same when he invested over $100 million in a tomato processing factory.

He did base on fake data that over 70% of farm produces rut on the farm. Several of the reports claimed a processing factory will help reduce wastage and reduce importation.

A few years after launching the processing factory continued to struggle for raw materials and has been shut down several times for lack of raw materials. Where is the 70% of farm produce wasting?