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Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel (5187 Views)

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Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by galadima77(m): 7:46pm On Jun 25, 2023
While we at this, please someone should help us clarify prices of dangote cement between Nigeria and some neighboring countries.
Make we check something.
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by stanluiz(m): 8:39pm On Jun 25, 2023
07kjb:



OP APPEARS to be a sound ECONOMIST, while u are being dumb or tribalist which one

Have u seen a project commissioned and not yet in operation anywhere in the world?
Your last paragraph said it all.

You commission a project yet the project is not operational. It has not be completed.

They keep pushing and postponding the date of the project.

Dangote is now about to import fuel. So what the use of building a refinary ?

3 Likes

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Thinkfree(m): 8:52pm On Jun 25, 2023
07kjb:



When intellectuals are speaking don't bring out your ignorance,or try as much as possible to hide it..u are no longer a small boy
who are the intellectuals? The ones that are filled with hate above or the envious ones that like hate anything Nigerian or Northan?
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Bundaweber: 8:55pm On Jun 25, 2023
mrvitalis:

You are obviously not an engineer to type this thing

First as long as the guidelines are followed I don't see any problem... Your petrol is converted to gas before it can combust

People have been using hydrogen to power cars yet no explosion

Hydrogen is even far more dangerous than propane ,ethane or methane gas they might use

SON should step up and do their work

More over they have been using it for years in Edo state.. For over 5 years now... No trouble


where in edo state?
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by emerged01(m): 8:55pm On Jun 25, 2023
Shallow thinking. Poor men are always believe they are right.

2 Likes

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Thinkfree(m): 8:59pm On Jun 25, 2023
Typing:


Crying intellectual grin grin grin grin
he called pure jealousy and hate intellectual.

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Thinkfree(m): 9:03pm On Jun 25, 2023
emerged01:
Shallow thinking. Poor men are always believe they are right.
and they also believe God is for them only.
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Bundaweber: 9:06pm On Jun 25, 2023
inoki247:


I'm talking about Nigeria Benin Edo state over 5000 plus Car is using CNG in Edo stop displaying your ignorance...


again where in edo state? where is the cng station please?

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Bundaweber: 9:08pm On Jun 25, 2023
Typing:


Na LIE. Which Edo? No be this Edo wey I dey. Some years back, some Car owners in Benin actually switch to CNG, but most of them have revert back to petrol.

Only few cars still use CNG in Benin. Make una dey LIE small small.



abi ooo!! i con dey wonder if na the same edo state wey i dey abi na another one wey dey for dream world dem dey talk about.

2 Likes

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by GeneralDae: 9:08pm On Jun 25, 2023
stanluiz:
Your last paragraph said it all.

You commission a project yet the project is not operational. It has not be completed.

They keep pushing and postponding the date of the project.

Dangote is now about to import fuel. So what the use of building a refinary ?
Your last paragraph has been refuted several times as fake news. So why repeat it?

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by inoki247: 9:13pm On Jun 25, 2023
Bundaweber:



again where in edo state? where is the cng station please?


Go to NiPCO filling station or use Google...

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Bundaweber: 9:15pm On Jun 25, 2023
[quote author=inoki247 post=124033908]


hmmn
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by inoki247: 9:17pm On Jun 25, 2023
Bundaweber:



so all nipcos station in benin sell cng. quote the exact locations please



Mak use of Google or go to any NiPco branch in Benin dem go tell u the one that's selling that type of Gas...

2 Likes

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Vinnie2000(m): 9:52pm On Jun 25, 2023
Well said, OP.

Dangote is a Greedy, Evil Capitalist. angry sad

He is another form of Gen Sani Abacha and wants to Suck this Nation Dry. undecided

I suspect the North wants to use him to Stockpile Wealth for themselves, for the Future.😕

So that should Nigeria Break up, They won't Suffer.🙁

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 9:53pm On Jun 25, 2023
07kjb:
I'm discussing this with my friend from kogi yesterday... DANGOTE is not a good business man what he is enjoying is northern Monopoly coupled with some foolish presidents we had from the south,I will prefer TONY ELUMELU 100* TO DANGOTE.. DANGOTE IS A VERY SELFISH AND GREEDY FELLOW

I LAUGH STUPID APC SUPPORTERS CHEERING HIS REFINARY,IT WILL BE BETTER TO IMPORT FUEL THAN TO HOPE ON THAT HIS ANTI PEOPLE REFINARY...THANK GOD FOR GAS ALTERNATIVE ANYWAYS


Typical South.Beasts filled with hate, envy and bitterness.
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 9:57pm On Jun 25, 2023
b4bola:
I no know why person go dey drink paracetamol untop another man headache.

The Dangote Refinery is a very complex project that requires a time, technical input and capital.

There are about twelve units (CDU, RFCC gasoline, RFCC AGO, HGU, Polypropylene Unit Effluent treatment Units e.t.c). Executing a project of this magnitude is no joke. Commissioning and integrity testing alone could take six months or more.

The man even said they are more than halfway through with the payment of loans($2.7B left)

I don't know what you intend to gain with all these downplaying

SSFeedsNigeria is just a typical South.Beasts filled with hate, envy and bitterness
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 10:05pm On Jun 25, 2023
Typing:



See person wey never achieve anything for life, dey talk down on Dangote. SsfeedsNigeria, apart from the Gala Hawking business you are good at, what other thing can you do?

South East People just dey envy Dangote. Very soon, Dangote refinery go make Dangote compete as one of the top 3 richest men in the world.
Una go wail tire by then grin


SSFeedsNigeria and other South.Beasts are filled with hatred, bitterness and envy.

But I want to let you know they do other business such as:

Baby factories
Cocaine pushers

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 10:09pm On Jun 25, 2023
XerXers:
We laughed at the abokki when he ventured into a business that is becoming obsolete. Worst still is his greed in trying to monopolize the sector. Once all bottlenecks are removed, small modular refineries will run him out of business, that is if he ever complete the white elephant project at all.


Pained, bitter, hateful and envious Igbos are just venting their ignorance on this thread.

Electric cars are yet to take over the automobile market in Europe and America and you expect them to take over Africa first.

One thing about IPOB is their lack of tact when they attack you out of envy and jealousy.

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by BeLookingIDIOT(m): 10:27pm On Jun 25, 2023
ClassicMan202:


Bro.... He failed in tomatoes and dansa fruit juice even the sugar business is facing serious competition from his northern brothers (if not government would have helped him), what about the noodles business?? d€ad

Any business he has a serious competition always falters.
Won't any business where there is serious competition be harder to break through before

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by BeLookingIDIOT(m): 10:30pm On Jun 25, 2023
Number of electric vehicles globally: 2.2%
Number of CNG vehicles globally: 0.02%

OP and co are the walking definitions of delusional.
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by chosengocap: 10:41pm On Jun 25, 2023
helinues:
Aswear to God👩‍🚀, all this Obidients are People who have never achieved anything in life.

Do a private business who run it's affairs like FG..

How dumb can some of you Obi supporters be?
Eh stupid with una reasoning


Even great companies make mistake ....great mistakes ....

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Davidson1010: 11:20pm On Jun 25, 2023
BeLookingIDIOT:
Number of electric vehicles globally: 2.2%
Number of CNG vehicles globally: 0.02%

OP and co are the walking definitions of delusional.
Irrespective of your believe, Electric car is the future.
Thanks

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by BeLookingIDIOT(m): 11:23pm On Jun 25, 2023
Davidson1010:

Irrespective of your believe, Electric car is the future.
Thanks
It will still remain a minority fraction even in the foreseeable future. That electric cars usage is growing isn't the question. The question is wether currently investing in fossil fuel is a bad business decision like you claim.
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Davidson1010: 11:33pm On Jun 25, 2023
BeLookingIDIOT:

It will still remain a minority fraction even in the foreseeable future. That electric cars usage is growing isn't the question. The question is wether currently investing in fossil fuel is a bad business decision like you claim.
Not what I claim, rather what I believe.
My brother, rationally speaking, this is not ALL about Dangote, but the Nigeria government inclusive. This is the time Nigeria government should start diversifying.
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 11:44pm On Jun 25, 2023
SSFeedsNigeria

Ajaokuta primarily crashed because it was owned by the federal government. The state owned oil refineries all packed up despite access to crude oil. So, from the onset, Ajaokuta steel was doomed.

Dangote refinery on the other hand is privately owned and gives it a far greater probability it will succeed.

Secondly, Dangote is an astute businessman. I was shocked to discover he exports fertilizer to the US. The size of the refinery indicates he also had plans to export and I won't be surprised if he already has buyers.

When the refinery will be complete seems to be a mystery but the last that was heard from the company itself was this July 2023. Let's not be pessimistic.

Yes, Dangote was hoping to corner the market but he seems to have shot himself in the foot. Bua's 200,000 bpd refinery will come onstream next year. If the 4 NNPC refineries are sold off and then fully refurnished by their new owners, that's more competition.

Tinubu has already said he wants refining capacity to hit 2mbpd in locally by 2030

His biggest competition won't be local but foreign. That is the only means local refiners don't gouge us to death.

As for lacking the funds to complete it, it is all speculation. He recently sold a 20% stake to NNPC for $4bn. He could sell more shares to other entities to ensure the project is completed.

As for demand for fuels falling, that will take sometime. I would be a billionaire if I received a $1,000 any time anyone mentioned the death of fuels and the prediction not coming through.

Many poor countries will still be heavily reliant on fuels for a very long time. Many of these rich countries export their fuel powered used vehicles to the Third world. It will be around 2040 that one may begin to see some decline in global demand.

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 12:02am On Jun 26, 2023
Svoboda:
So much exaggeration about CNG and electric cars. Petrol is going to be far cheaper and more accessible even in 100 years. Multinationals are still investing billions of dollars in fossil fuels. Congo dr is selling off oil blocs to big corps to fund its budgets. Lets not run faster than our shadows.

You think dangote and bua never carried out due dilligence on those projects?

Petrol is going to be so difficult to displace because it is not only relatively cheap(It is heavily taxed in the West because of this) but a natural go to source for energy.

Wind and solar energy take up too much land in my opinion and are relatively expensive. Nuclear energy would have been a much better option but environmentalists hate them with a passion for some incomprehensible reasons. They produce zero carbon emissions.

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 12:08am On Jun 26, 2023
XerXers:
We laughed at the abokki when he ventured into a business that is becoming obsolete. Worst still is his greed in trying to monopolize the sector. Once all bottlenecks are removed, small modular refineries will run him out of business, that is if he ever complete the white elephant project at all.

Bet against Dangote at your peril. He is in a better position to sell below rivals due to the scale of his plant.

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 12:13am On Jun 26, 2023
SSFeedsNigeria:


The enormous resources required to run such vast refinery can only be sustainable if it runs at full capacity.

Dangote isn't an astute investor as aclaimed, otherwise it would have been far more profitable to build 5 modular refineries around oil fields than one massive refinery that can't be completed or maintained optimally.

Again, he is driven by greed and monopolistic tendencies.

I fully agree with your last paragraph. He has said that import of all refined fuels ends the second his plant is ready. This is to kill his most vicious competition which will come from imported fuel.

Also, it is enshrined in the Petroleum Industry Act that only those with local refining capacity will be allowed to import fuel. You can guess who influenced that.

2 Likes

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by grandstar(m): 12:25am On Jun 26, 2023
inoki247:


I'm talking about Nigeria Benin Edo state over 5000 plus Car is using CNG in Edo stop displaying your ignorance...

Please, how much is a kilo of CNG?
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by kayo12: 12:29pm On Jun 26, 2023
helinues:
Aswear to God👩‍🚀, all this Obidients are People who have never achieved anything in life.

Do a private business who run it's affairs like FG..

How dumb can some of you Obi supporters be?
Eh stupid with una reasoning
Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by Tifnubudrugs: 12:53pm On Jun 26, 2023
complexstuffs:


SSFeedsNigeria is just a typical South.Beasts filled with hate, envy and bitterness

Stop being emotional and reason like a normal human being. The op is 100% correct!

Dangote should have built a smaller refinery but no, he wanted to monopolize the downstream sector same way he did to cement, so he can increase prices arbitrarily. Now it has backfired, he can't finish the refinery again and the more he delays, the more hopes of recouping his investment seed capital wanes.

1 Like

Re: Greed: Why Dangote Refinery May End Up Like Ajaokuta Steel by complexstuffs(m): 1:52pm On Jun 26, 2023
Tifnubudrugs:


Stop being emotional and reason like a normal human being. The op is 100% correct!

Dangote should have built a smaller refinery but no, he wanted to monopolize the downstream sector same way he did to cement, so he can increase prices arbitrarily. Now it has backfired, he can't finish the refinery again and the more he delays, the more hopes of recouping his investment seed capital wanes.


1) How has it backfired?
2) Can the refinery not start operations even before it is completed?
3) Did Dangote tell South.Beasts that his business plan had backfired?
4) Why are bitter and envious South.Beasts taking panadol for Dangote's headache?
5) Europe and American hasn't yet been taken over by electric cars, yet bitter and envious South.Beasts wants to convince people that Nigeria with no NEPA will be taken over by electric cars.
6) Dangote didn't emerge as Africa's richest man by listening or paying attention to envois and bitter South.Beasts.

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