So, up till now we are still taking about approval to sell or should I say supply,,,, very interesting

cucumbar:
bro, quit all this nonsense talk.
There is something called trend, or statistics if you are smart enough to know, but I think you are not.

His predictions or beliefs are irrelevant in the outcome of governance ,if your government does the right thing.

He is only talking based on trends and statistics.

Wishful/ positive thinking doesn’t put the country on the right path.
Stop gaslighting people.
Be positive, let your positivity change the country and allow others think what they want to think.

Please shut up about trends and statistics. You don't have a clue. What trends or statistics about Dangote shows you he will be part of failure that will involve him losing billions of dollars of his own capital investment?

Dangote invests billions of dollars of his own money just to join Government in scamming Nigerians as some of the idiots you are defending here have claimed?

You are saying , like a child of 5, I should allow others think what they want yet forgetting they go public with their negative , ignorant, sadistic and uninformed doom and gloom thoughts all Nigerians who believe in Nigeria are duty bound to reject.

Please sit down somewhere. Freedom of speech is not equal to deliberately spreading lies you will then ask concerned stakeholders not to counter.

NinjaMetahuman:
lol you believe he hired fake bishop without concrete proof but you are struggling to believe a refinery that is not owned by the government and has a location you can go to verify things yourself.

Oya rate your own brain on the scale of 1-10

You self get time to dey reply irredeemable hater

MeineMutter:


It’s not a subsidy, supplying crude to Dangote. FG (NNPC) is not selling/supplying crude for free to Dangote.

The supply cannot be called inter-company transaction, (in accounting) either, which would be ‘nilled’ off (canceled out) when preparing consolidated group account.

FG’s investment in DANGOTE is just a simple investment (in DANGOTE) in the books of our Federal Government - except if the FG’s intension is to gain CONTROL (above 50% stake in DANGOTE) or exercise SIGNIFICANT INFLUENCE (up to 49% stake in DANGOTE) later.

FG (NNPCL) will record the crude shipped to DANGOTE as sales in its books.

Dangote will record it as purchases of stocks (raw materials) in its books.

At the end of the year when FG is paid by DANGOTE from the profit DANGOTE would have made, FG will record any dividend received from DANGOTE as other income or whatever name it wants to call it.

DANGOTE will record whatever it pays/paid FG as dividend paid/payable after deducting withholding tax and he is still going to pay the withholding tax he could have deducted back to Lagos State where the refinery is.

DANGOTE would be paying monthly withholding taxes to Lagos State government on CHARGEABLE SUPPLIES made to it by vendors who are outside the Free Trade Zone (FTZ).

Where Dangote could have taken delivery of those crude and not have paid for it is if FG is using the crude as all or part of its value of (20%) stocks held in Dangote.
In this case, FG would record all crude that can cover the value of of investment in DANGOTE as SIMPLE INVESTMENT, while DANGOTE would record the receipt of such crude as EQUITY.

It is after the FG has finished sending the crude to be swapped for cash (as investment) to Dangote that Dangote will then start recording any subsequent crude receipts from FG as STOCK (of raw materials), which he would have to pay when invoice is sent to Dangote by FG.

Note: It is ONLY companies established within the FTZ that would not pay state taxes to Lagos State.

Companies (established outside FTZ) supplying things to companies within the FTZ will pay appropriate taxes to their respective tax jurisdictions on all chargeable supplies (this would be used to reduce overall tax payables at the end of the year).

Our tax experts would understand this better because it is a little bit interwoven but not complex. Tax experts in the house can also shed more light on this and correct me where I could have gone wrong because the law for don change.

okay....thx for the infos....

TopBanter:


Please shut up about trends and statistics. You don't have a clue. What trends or statistics about Dangote shows you he will be part of failure that will involve him losing billions of dollars of his own capital investment?

Dangote invests billions of dollars of his own money just to join Government in scamming Nigerians as some of the idiots you are defending here have claimed?

You are saying , like a child of 5, I should allow others think what they want yet forgetting they go public with their negative , ignorant, sadistic and uninformed doom and gloom thoughts all Nigerians who believe in Nigeria are duty bound to reject.

Please sit down somewhere. Freedom of speech is not equal to deliberately spreading lies you will then ask concerned stakeholders not to counter.

I don’t expect any better from a dumb zombie.
After all, your oga say weda na statistics we go chop?

You can believe and reject all you want. The earlier you know that your belief or no belief doesn’t change anything, the better. Of course, I don’t expect a paid zombie to know this.

Others that are smarter than you are ,and see things objectively also have the right to disbelieve.

You don’t have the right to talk them down.

You and your likes have started insulting Buhari after 8 years of support.

Stop gaslighting smart and objective people who wants to chop statistics.


This is 2024. Quit being stupid!

cucumbar:
I don’t expect any better from a dumb APC zombie. After all, your oga say weda na statistics we go chop?
You can believe and reject all you want, and see if your belief can change governance

Others that are smarter than you are ,and see things objectively also have the right to disbelieve.

You don’t have the right to talk them down.

You and your likes have started insulting Buhari after 8 years of support.

Stop gaslighting smart and objective people who wants to chop statistics.


This is 2024. Quit being stupid!

here we go again....assumin....

how many people that voted buhari still dey talk about buhari today....??

just talkin always and loudest without facts....

cucumbar:
I don’t expect any better from a dumb zombie.
After all, your oga say weda na statistics we go chop?

You can believe and reject all you want. The earlier you know that your belief or no belief doesn’t change anything, the better. Of course, I don’t expect a paid zombie to know this.

Others that are smarter than you are ,and see things objectively also have the right to disbelieve.

You don’t have the right to talk them down.

You and your likes have started insulting Buhari after 8 years of support.

Stop gaslighting smart and objective people who wants to chop statistics.


This is 2024. Quit being stupid!

You're clueless. When Dangote and Port Harcourt refinery are up to speed, and improving the economic health of Nigeria, you will realize how dullardly and sadistic you and your fellow uniformed doom mongers are.

tunwumi:


Very right, but you have not added logistics cost of transporting to refinery and refined product to our depot and the refining cost. Then we have landing cost and others that are added that's why 550 ex-depot price

substrate shipping. Because all those expenses has been added before importation. But because our head of affairs are not sincere to we the masses. But in all dangote group is here to make money and not running charity organisation.

justtoodark:


what piss us off most is you guys know little but you talk the most....!!

you dont even bother to go check things out you just assume....!!
the same thing with obi too....!!

You're yarning dust. If you know as you like to pretend to, you'll know this isn't the first time you useless government has lied about things. Abi you want us to believe just because it's coming from a government you support?

Same thing with Tinubu too, he's a world-renowned liar and manipulator but not everyone will fall to his doings the way you lots have

Randerl:
Believe this production at your own f..Ily. Production is yet to kick off. This is a project that was commissioned last May.

They said products will be in the market by July, then August and again october. No single drop made it to the market.

The Company said it will be in the market this month. Now they are seeking regulatory approval despite No production test run before december 2023. Expected the products in the market between February and June 2024.

How are we sure those are not imported products stored for resale. Anything goes in Nigeria.

Nigerians are funny always. And when it finally finally gets to market the story will be the quantity and prices is not much ok and when everything is set it's that government is not doing well. Anyway it's all about the class we all belongs to in problems solving and situations management.

The approval is not news, it has to be approved because the approver is also part owner. The news would be when exactly will Nigerians start buying and at what price!

MeineMutter:


You don’t do things like that in business works. This is a thing that can affect a country, positively or negatively.

It has to be approved and be on government’s records before he can start selling.

All is just formality but that’s how it has to go.

Dangote refinery will not make fuel price come down.Only improvement on the foreign exchange can bring the price to where we want it to be.But with this refinery on board we hope it will strengthen the naira.Improve electricity will also help curb inflation.

justtoodark:


okay....thx for the infos....

You are welcome, bro.

DMerciful:
The approval is not news, it has to be approved because the approver is also part owner. The news would be when exactly will Nigerians start buying and at what price!

Thanks for shedding more light on it. Most people think it’s just child’s play.

What is the effect on forex? How does that concern the average Nigerians?

tollyboy5:

Sensible Nigeria are after the effect on forex

waveman2:
Dangote refinery will not make fuel price come down.Only improvement on the foreign exchange can bring the price to where we want it to be.But with this refinery on board we hope it will strengthen the naira.Improve electricity will also help curb inflation.

i dont think too price will come down when sef very little....

fact we have to still consider is entire nigeria consumes hugh amounts daily....and consider too if even it comes down in nigeria smugglin over the borders will kick off again....

You can't stop smuggling in anyway as far as the govt is not paying subsidy and your supply meets your demand you cannot stop smuggling to neighboring countries.

justtoodark:


i dont think too price will come down when sef very little....

fact we have to still consider is entire nigeria consumes hugh amounts daily....and consider too if even it comes down in nigeria smugglin over the borders will kick off again....

What state of hate bigotry n jealousy are you from ?

Randerl:
Believe this production at your own f..Ily. Production is yet to kick off. This is a project that was commissioned last May.

They said products will be in the market by July, then August and again october. No single drop made it to the market.

The Company said it will be in the market this month. Now they are seeking regulatory approval despite No production test run before december 2023. Expected the products in the market between February and June 2024.

How are we sure those are not imported products stored for resale. Anything goes in Nigeria.

waveman2:

You can't stop smuggling in anyway as far as the govt is not paying subsidy and your supply meets your demand you cannot stop smuggling to neighboring countries.

think about it....before boko haram started nigeria didnt even practice border control that much....

it will cost alot and need much more people to control the borders....
and consider too neighborin countries dont even have the capacity of nigeria to refine crude sef although its very low for its hugh population....

Administration1:
Hopefully the cabal doesn't sabotage this

Are they not the owners Dem do demself be that

tunwumi:


Can you tell us if the product delivered to Dangote is free?

It's not free, but NNPCL drilled the crude oils from the Niger Delta.

They don't intend to. I wish they do

FireUpNow:
When will his pms and kerosene hit the market? Let him crash the pms pump price make we see.

It is a beautiful to know Nigeria won't be importing crudeoil or paying subsidy.NMDPRA make you na go collect samples give approvals.But i get one question,what we consume internally does not affect our OPEC quota.Thanks to everyone that makes it happened.Pray we use the savings well.

tunwumi:
Approved



He can't crash anything. If he will do anything the price will be higher than the imported self.

The only way he can bring down price is if Nigeria is giving him free crude oil to refine.

You don't need any specialist to analyze this, check the price of crude and covert it to naira, divide it by 157 (liters in a barrel) then you get then price.

He has been sourcing his crude from international market.

His crude deliveries thus far have been from NNPC

Prove me wrong

Randerl:
Believe this production at your own f..Ily. Production is yet to kick off. This is a project that was commissioned last May.

They said products will be in the market by July, then August and again october. No single drop made it to the market.

The Company said it will be in the market this month. Now they are seeking regulatory approval despite No production test run before december 2023. Expected the products in the market between February and June 2024.

How are we sure those are not imported products stored for resale. Anything goes in Nigeria.

How can it be an imported products,do you know how much it costs to build a refinery that you will end up using it just to store imported products,we're is the profit or don't you know thy is more profit in production.

Dangote sef na cabal.Dangote sef na cabal....

waveman2:
Dangote refinery will not make fuel price come down.Only improvement on the foreign exchange can bring the price to where we want it to be.But with this refinery on board we hope it will strengthen the naira.Improve electricity will also help curb inflation.

But you should know that once the Refinery is in full operation and we don't have any reason to import again there will surely be an improvement in the foreign exchange rate.