₦airaland Forum

Mansa6:
You own 20% of a company and that gives you the right to tell the person with 80% how to run the company?You are delusional!

nairalanda1:
A constant comment I see here is that 'Dangote is supposed to benefit NIgerians'...lol

Here is a harsh truth. Businessmen and women and children are not into business to HELP YOU AND ME. They are in business to help themselves, their shareholders, themselves, and maybe their workers (and most of the time, they forget to help their workers , which is why we have unions).

At the end of the day, Dangote is going to sell fuel at a profit. Sorry Nigerians, but expect fuel to be above N1000 per liter. The truth is, had we removed subsidy in 1993, or even 2011, which was our last chance really (but too many people were chanting cheap fuel, including our president...now Karma has come back to bite them)...we would have had 8 refineries , many more modular refineries, and maybe we would have had fuel for at least N300 per liter by now...and maybe we would be a major exporter of fuel

If a business man or woman or child does not make a profit, things will collapse. Because profits have to be made to keep the refinery running well. GOvernment is not going to step in and give Dangote money (except in the form of a production subsidy which won't do much).

Honestly, Nigerians, wake up. Socialisim works when you have the cash. One reason why I support subsidy removal is so that we earn so much money overall, we can afford to help the poor masses by raising enough revenue via taxation. (and we hopefully would have gotten rid of PDPAPC then, but I'm not holding my breath).

koyeni:
You raised good points but i think dy are only valid on paper
8 refineries . With the rogues we've always voted? Come off it..
Nigerians wont mind if the money gotten are utilised properly but trust me, it will always be looted.
Since the subsidy regime now. Where the money

Mansa6:
You speak true to your person...An insignificant, uninformed statistic PEASANT in the scheme of things .

FIXED!

TimeManager:
Can we try and be reasonable for once, everything shouldn't go by wailing and all that. What's our production per month?, we currently on 1.7mbp, do you expect we offload all our production to Dangote without selling abroad to earn FX?. Dangote and other refineries coming up would have to source crude from various buyers to augument the supply from NNPCL.
Dangote refinery requires 6million feedstock of crude oil to start production.
NNPCL does not have 6million supplies to give Dangote.

-kiss the truth!

pharmagba:
I see dangote as a person who had always feasted on the loopholes in the Nigerian society.
He had probably want to be taking oil free or boycotting normal payment to Nigeria for his own personal wealth and business.
But behold he met president Tinubu a shrewd auditor who understands all the processes.
Today Tinubu announced that selling of oil is now with the CBN and NNPC is just to product and now Dangote is saying he is going elsewhere for his oil.
What this tells me is that dangote feels he should be worshipped and want to hold Nigeria by the jugular by blackmailing or boycotting Nigeria oil.
All this administration should do is ensure the portharcourt refinery and others including the one by BUA comes on board quickly. This will remove monopoly which dangote crave for. In the end he will come and beg

alsudan:
Nigerians should prepare to buy fuel for 1500 this year and exchange 1 dollar for 3000 Naira very soon.

Where's the Port Harcourt refinery that the cocaine sniffing thug promised was gonna start running in December Last year.

Mansa6:
EEJIT!

Pray show me where I said the FG's equity in the Dangote Refinery is for nothing..

JESUS!

You are STARK BLAND upstairs..

10mobile:
Hmmm! I've always seen selling crude as bad economic practice by helpless countries that can't refine or with low refining capacity. That's because no amount seems justifiable for the numerous crude by-products sold away. So, I'm surprised US also sells crude.

No no no, not true. Even if it's only the employment that the refinery would provide, it's an advantage. No one should think that Dang's refinery is an economic magic wand that will suddenly wave off all our economic woes. But it's certainly not a disadvantage.

After all, we're already import-dependent. So, importing crude isn't what will put more pressure on the Naira. Rather, when we refine in Nigeria, we have all the by-products for local use and re-export which would help us recover any loss in forex due to import.

The situation in Nigeria is really bad. But it's certainly not all bad. Of course, it's never all bad anywhere. As we keep the government on its toes, let's also try to see the silver linings for the sake of our sanity as a people. Thanks.

toujurs:
Bunch of agbado fools. Dangote wants to cause more tears. Agbado tears will flow. The suffering hasn't started yet. This is just 9 months, and the drama has been way too much. Mali, Burkina faso and one other country just left ecowas, under tinubu watch. Tinubu is the worst decision, ever made by some nigerians out of bigotry.

Dangote definitely would but these crude, in dollars, and sell them in naira, and the exchange rate now is 1,500naira to 1 dollar. How do a common man survive. When buhari left, a dollar was 850. This is just 9months under tinubu, and it's times 2. Prices of basic things, sma gold is now 12000 for just a tin o!

Topman7:
Nothing strange. They have the capacity to refine and supply beyond the Nigerian market, so they will be happy to take on foreign oil to keep their refinery in production.

This is a private-sector business.

Dem no send anybody.


Majority of Nigerian Crude is Bonny Light and usually used to blend other heavier crude in refineries - part of the reason our existing NNPC refineries have been failing consistently.

Also, a large portion of our crude have been presold in forward contracts, making it difficult to satisfy the volume required for continuous running of the 650,000 bpd Dangote refinery. They received 1milluon barrels per week in the last 8weeks, compared to the 650k bpd capacity - so do the math.

Finally. Nigerians major need at this time is PMS, while Dangote is focused on AGO and Jet A1, so the Modular Refineries and possibly the PH refinery will get priority supply!

*This is a free report o, so don't over-query it!*😁

nairalanda1:
Oga, why don't you ask your politicans?

Seriously, ask them. Don't ask me, I never voted for them, and I don't intend to.

Agboriotejoye:
I thought Dangote has started production already. 650k per day means around 18m per month. At current production, that's ten days worth of production of Nigerian crude. I hope you understand.

Oghene86:
So we don't have crude to sell to Dangote? Or is it confirming news going around that Buhari sold and collected money for crude in advance, so whatever that's being produced now has been paid for and the money spent by the last government, what we don't know is how.many years this deal will last.

We are in a deep shit.

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

Mansa6:
Dangote Group has a subsisting credit line with JP Morgan to the tune of 50Billion dollars since 2013..intact till tomorrow...

He doesn't need your "few" dollars that isn't even yours in the first place..

Be informed!

anonymous1759:
If there’s anything I want to do this year is to leave the wailing wailers alone , they prefer wailing than being logical , some of them prefer the country to be bad so they can wail . When dollar fell sometimes dec when everyone was expecting it to slide to 2k all my watsapp status was quiet . right now it’s lively because what they expected is coming to pass .

nairalanda1:
A constant comment I see here is that 'Dangote is supposed to benefit NIgerians'...lol

Here is a harsh truth. Businessmen and women and children are not into business to HELP YOU AND ME. They are in business to help themselves, their shareholders, themselves, and maybe their workers (and most of the time, they forget to help their workers , which is why we have unions).

At the end of the day, Dangote is going to sell fuel at a profit. Sorry Nigerians, but expect fuel to be above N1000 per liter. The truth is, had we removed subsidy in 1993, or even 2011, which was our last chance really (but too many people were chanting cheap fuel, including our president...now Karma has come back to bite them)...we would have had 8 refineries , many more modular refineries, and maybe we would have had fuel for at least N300 per liter by now...and maybe we would be a major exporter of fuel

If a business man or woman or child does not make a profit, things will collapse. Because profits have to be made to keep the refinery running well. GOvernment is not going to step in and give Dangote money (except in the form of a production subsidy which won't do much).

Honestly, Nigerians, wake up. Socialisim works when you have the cash. One reason why I support subsidy removal is so that we earn so much money overall, we can afford to help the poor masses by raising enough revenue via taxation. (and we hopefully would have gotten rid of PDPAPC then, but I'm not holding my breath).

abhosts:
The CBN gave tens of billions of dollars to dangote at cheap official rate with the expectation that it would save the country foreign exchange in return. If dangote wanted to import crude at global prices to for his refinery, he should have built the refinery with funds from oversees investors and not with cheap CBN dollars.

Abdul4trust1:
The refined products from the refinery will also be exported.

Don't just view issues from one angle

TimeManager:
Their mindset is strange to me too, i don't think i have seen anything this toxic before.

-kiss the truth!

LordAdam16:
Interestingly, global refining capacity billed to be added between 2023 and 2027 is north of 10 million barrels per day.
Dangote's refinery will eat up only 600K.
In effect, Dangote can import crude oil from foreign sources and sell refined products to foreign sources with zero care in the world for Nigeria's energy needs.

He does not need the Nigerian market.
He does not need the CBN anymore.

-Lord

TimeManager:
You've not said anything.

-kiss the truth!

Solofresh2:
Hahaa
When I tell Nigerians that Dangote was only working for his own pocket,they taught I was lying

pharmagba:
I see dangote as a person who had always feasted on the loopholes in the Nigerian society.
He had probably want to be taking oil free or boycotting normal payment to Nigeria for his own personal wealth and business.
But behold he met president Tinubu a shrewd auditor who understands all the processes.
Today Tinubu announced that selling of oil is now with the CBN and NNPC is just to product and now Dangote is saying he is going elsewhere for his oil.
What this tells me is that dangote feels he should be worshipped and want to hold Nigeria by the jugular by blackmailing or boycotting Nigeria oil.
All this administration should do is ensure the portharcourt refinery and others including the one by BUA comes on board quickly. This will remove monopoly which dangote crave for. In the end he will come and beg