Hi

Common Knowledge...

I know someone that works at the refinery. Make I no too talk but Hundeyin isn't far from the truth.

Acidosis:


Why? Other than the information provided to you by the media, do you have any evidence to refute his opinions?

Nobody has bought any refined crude since he invited the previous scammers in government to commission his refinery 6 whole months ago.

The same people who fed you with lies about a so called Port Harcourt refinery and its planned operation in December, 2023, have now come out again to give you another "renewed hope", and you want Obidients to digest this hope hook, line, and sinker like br2inless z0mb1.es?

One would expect that after getting scammed over and over again by brown envelope Nigerian media and their sponsors in government, you would be patient and hold off on disparaging David until after you purchase fuel refined from his refinery, say next week. What do you think?

Hey chief,
Been a while since I saw you here. I trust you're keeping well.

IamAtikulate:
Dangote Refinery won't solve our FX problem. It might exacerbate it if the refinery operates at full capacity.

Wrong!

If eventually the Refinery runs at full capacity, it will go a long way in solving our FX crisis. Sincerely, I'm praying this project works. I'm so eager to so us kickstarting industries, that's our only ticket out of poverty and unemployment.

You may not like Dangote's approach, but he's one of the few that dare to invest in a sector when the big shorts where comfortable with just importing, like he did with local production of cements, if this refinery comes online fully, our FX drain will reduce drastically.

I'm also hoping a serious investors look into our steel industry. We shouldn't be importing steel.

Those f.o.o.l.s must still bring obidients and Obi inside the matter..


F.O.O.L.S Republic

Yellow bars wee deny he's their brother

Rather than critiquing with facts fools will attack the messenger to avoid asking themselves why the refinery launch date keeps getting pushed forward as David initially said it would be before the elections. One man playing the role of the fourth estate and another playing the role of the opposition, that's all that stands between a nation of morons and their beloved oppressors. The gates of hell are desperate to prevail and fools think joining the winning squad will change their circumstances even as things keep getting harder for them! Foolishness abounds in the heart of children and Nigerians. Unfortunately the rod of correction, no matter how brutally used by their oppressors, cannot give Nigerians basic human sense!

Just for the sake of Nigeria i hope David hundeyin is not right.

This guy has come to throw obedients in disarry the third time.

I was searching for the "expose" in the write up but all I saw were ramblings...


David Ikpundionye is wiser than everyone in Nigeria

Hate him or like him, but one thing you can’t take away from this guy is his reputation for being provided right, most of the times. The way and manner Dangote alongside the government is going about this is quite fishy.

Anyways, this is not the 1990’s, if Dangote thinks he can take us all for fools, then he is the actual fool. It won’t be long before we find out the real truth.

Efewestern:


Wrong!

If eventually the Refinery runs at full capacity, it will go a long way in solving our FX crisis. Sincerely, I'm praying this project works. I'm so eager to so us kickstarting industries, that's our only ticket out of poverty and unemployment.

You may not like Dangote's approach, but he's one of the few that dare to invest in a sector when the big shorts where comfortable with just importing, like he did with local production of cements, if this refinery comes online fully, our FX drain will reduce drastically.

I'm also hoping a serious investors look into our steel industry. We shouldn't be importing steel.

Explain how Dangote refinery will solve our forex crisis if it runs at full capacity.

Caseless:
This guy is a dunce whose stupidity is fueled by some obidients on Twitter.


What an idiot!

Nigeria is a replica of the decayed brains in your skull. So far dead things with shameless smelling bad character like you continue to exist in this country, nothing will ever happen right in this country. You leave the message passed and start doing nonsense, affirming exactly the dead brain you are as the article described. Shame on you shameless yoruba Muslim.

Caseless:
This guy is a dunce whose stupidity is fueled by some obidients on Twitter.


What an idiot!

And, that's exactly what have exactly you have exposed yourself to be.

Funny little boy.

Caseless:
This guy is a dunce whose stupidity is fueled by some obidients on Twitter.


What an idiot!

Quranisforfools:
According to the acclaimed investigative journalis, Dangote has been taking Nigerians for a ride of deception.

Sure!
And the petroleum products that will soon start flowing out of it are all fake as were the pictures of crude being delivered to its refinery storage tanks. Once you have a gullible audience, any story is legit.

Whoever is behind the rise and fall of this Hundeyin is exceptionally cruel. He needs serious prayer. May he receive a perfect healing.

Must you bring politics to all things? Be wise for once Mr manMust you bring politics to all things? Be wise for once Mr man...

IamAtikulate:
Dangote Refinery won't solve our FX problem. It might exacerbate it if the refinery operates at full capacity.

It won't also significantly reduce the price of petroleum, unless government continues to subsidy petrol.

At best, it will help knock off N150 from the price of fuel which is still over 100% more than what Buhari left for us.

Dangote Refinery will not directly increase Lagos IGR by more than 10 billion. My guess is that it'll add only about N5 billion.

The refinery will only make the federation richer.

Dangote Refinery will not increase Ogun IGR by more than N500 million.

Dangote Refinery will have a greater economic value to far away Anambra than Ogun.

Mark all these.

I don't have time to explain these pointers. Children of hate will call me a hater.

A factory will have a greater value to a location far away from the point of production than to its own centre of production? Lolz. I've always said you guys should never be involving yourselves with anything that's a tad more technical than petty buying and selling. It's beyond you.

OfficialAPCNig:

Explain how Dangote refinery will solve our forex crisis if it runs at full capacity.

A huge chunk of our FX earnings goes into petrol importation.

Let's say we made $1M from crude oil sales in 2023. We then use $350k to service fuel importation from foreign refineries. With Dangote's refinery, we won't be needing to burn those scarce FX on fuel importation. We will buy petroleum with naira and if and when Dangote needs FX to settle foreign loan, it won't be up to 1/7th of what we use now to import fuel.

Fuel importation is what drains our naira most. If we can fix that, we can stabilize the naira.

But come ooh, December never reach? PH no go work again?

Caseless:
This guy is a dunce whose stupidity is fueled by some obidients on Twitter.


What an idiot!

I am not an obidient but i pray to the Heavens that this “dunce” won’t be right when push comes to shove.

The signs are there already but let’s hope it’s not true.

Caseless:
If not politics, why are we here in the first place?

The fool got his flower from those Obedient people on twitter, reason he claims he's an invest journalist. He's only repeating what we know and still claims he went under to dig it up. Cheap and lazy investigative journalist!


Where's the 70,000 documents he said FBI would release on Tinubu?

You re the caseless and stupid bigoted dunce .
Mumu!

Okoroawusa:
I was searching for the "expose" in the write up but all I saw were ramblings...


David Ikpundionye is wiser than everyone in Nigeria

Ikpu nne gi is actually the wisest, but most rotten. Shame!

[quote author=yommen post=127389050]

Nooo!!! E no too much to ask for o.
😂🥱

Efewestern:


A huge chunk of our FX earnings goes into petrol importation.

Let's say we made $1M from crude oil sales in 2023. We then use $350k to service fuel importation from foreign refineries. With Dangote's refinery, we won't be needing to burn those scarce FX on fuel importation. We will buy petroleum with naira and if and when Dangote needs FX to settle foreign loan, it won't be up to 1/7th of what we use now to import fuel.

Fuel importation is what drains our naira most. If we can fix that, we can stabilize the naira.

But you forgot that we earned most of FX from crude exportation.

If we meet the budget projection of 1.7 million barrels per day at $70, that means we will earn about $119 million daily and $43 billion daily.

Government only gets between 12% and 15% of that money as royalties, which is about $7 billion. Oil companies take the rest and many of them will repatriate their profits in USD.

If we sell 650,000 of our projected 1.7 million barrels, we will be left with 1.05 million barrels. If BUA and other refineries, take up to 400,000 barrels, we will have just 600,000 to sell to the international market.

This will give us approximately $15 billion.

Remember again, FG will take at most 15% and most of the companies will repatriate their profits.

If Dangote and other refineries buy the crude in USD, then he will have to source the USD and this will even put greater pressure on the FX.

As far as we continue to produce at less than 2 million barrels per day, these refineries won't solve our FX problems.

We spend only $11 billion to import refined petroleum and we will likely lose more if we sell crude to Dangote in Naira.

OfficialAPCNig:

But you forgot that we earned most of FX from crude exportation.

If we meet the budget projection of 1.7 million barrels per day at $70, that means we will earn about $119 million daily and $43 billion daily.

Government only gets between 12% and 15% of that money as royalties, which is about $7 billion. Oil companies take the rest and many of them will repatriate their profits in USD.

If we sell 650,000 of our projected 1.7 million barrels, we will be left with 1.05 million barrels. If BUA and other refineries, take up to 400,000 barrels, we will have just 600,000 to sell to the international market.

This will give us approximately $15 billion.

Remember again, FG will take at most 15% and most of the companies will repatriate their profits.

If Dangote and other refineries buy the crude in USD, then he will have to source the USD and this will even put greater pressure on the FX.

As far as we continue to produce at less than 2 million barrels per day, these refineries won't solve our FX problems.

We spend only $11 billion to import refined petroleum and we will likely lose more if we sell crude to Dangote in Naira.

Nigeria currently consumes 30-50million litres on a average daily.

If Dangote is to refine 650,000 of our crude daily, he is likely to get over 102,700,000 litres of fuel, which is far above our daily usage. Meaning surplus will be available for export to nearby African countries who are to purchase these refined products with USD.

Now, that's assuming the refinery will work at full capacity which is not likely at the moment. If Dangote is to meet our local demands, he just needs to refine 180-200k barrels/day and when you subtract that from our daily 1.5m crude production, you will see that we have 1.3m left for export.

Remember at a time we did crude oil swap. We gave foreign refineries free crude for them to supply us fuel and even at that, we ran at a huge loose. NNPC remitted nothing to the government coffers in 2022, this is because the revenues from crude sales was used to cover this shameful and shady oil-for-petrol swaps. Infact it was reported that NNPC owed merchants up to $3 billion this year alone.

Now, with Dangote refinery coming online, we are not bound to these things. Revenues made from selling crude to nearby African countries is enough to cover crude fee.

Efewestern:


Nigeria currently consumes 30-50million litres on a average daily.

If Dangote is to refine 650,000 of our crude daily, he is likely to get over 102,700,000 litres of fuel, which is far above our daily usage. Meaning surplus will be available for export to nearby African countries who are to purchase these refined products with USD.

Now, that's assuming the refinery will work at full capacity which is not likely at the moment. If Dangote is to meet our local demands, he just needs to refine 180-200k barrels/day and when you subtract that from our daily 1.5m crude production, you will see that we have 1.3m left for export.

Remember at a time we did crude oil swap. We gave foreign refineries free crude for them to supply us fuel and even at that, we ran at a huge loose. NNPC remitted nothing to the government coffers in 2022, this is because the revenues from crude sales was used to cover this shameful and shady oil-for-petrol swaps. Infact it was reported that NNPC owed merchants up to $3 billion this year alone.

Now, with Dangote refinery coming online, we are not bound to these things. Revenues made from selling crude to nearby African countries is enough to cover crude fee.

You are too simplistic in your analysis. So dangote refinery will automatically stop the Nigerian factor of corruption in oil sector? Those amount you re projecting as gain will be looted be looted from the source by politician and dangote himself. I don't know what gives you people false hope in Nigeria sef.

RevolverOcelot:
I know someone that works at the refinery. Make I no too talk but Hundeyin isn't far from the truth.

You don't know anybody. Dangote will start production next week.