Northernblood7:


Are you saying that Nigeria does not have enough Crude ; . Pick up a mirrow and repeat the same sentence looking at yourself carefully as you say so



Oga, Nigeria produces 1.9 million barrels daily according to workdmeter, Dangote refinery needs only 650k. Make research b4 talking next time

Story story. Let's assume thats true which is not, how much of it is used to service debts including the recent $3.3bn loan BAT just took to repay with $12bn worth of oil. When will they repay it to now have oil to give Dangote?

YourMrBoo:


Prove pls

Research pls..

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.

Thanks a lot for this reasonable piece

justmondris:
Sorry, I don't understand. We always export crude oil to other countries but why is Dangote importing the same crude oil from the US? What happened to our oil?

blame ur government they gave him too much Monopoly in the country.... Nigga must b feeling his bigger than Nigeria government....he should and import crude oil from other countries... while our government should place a ban on his product... It's called 50/50 everybody lose n gain

Femmyfamous4u:
What most people don't know is that the refinery can refine all kinds of crude including US shale oil. With Nigerian crude it can only do 350k per day thereby not reaching full potentials.

But Nigeria produces 1.7M barrels of crude per day.. why can't he just use nigeria crude

lexy2014:


guyman never begin produce, you are talking of exporting. has he exported any product to you?

I don't have an answer to your dumb question.

But what u know is that, when he start selling, he won't be selling to Nigerians alone.

It is better he buys from abroad before those awa oyel people will start bleating

TimeManager:

That dude is ignorant, very ignorant. As they say, ignorance is a disease.
For clarity, Dangote refinery needs 6million feedstock of crude oil to jump start production and obviously, NNPCL doesn't have the production capacity to supply such an enormous amount currently, hence the need to find as many buyers.

-kiss the truth!

Wasn't opening of this refinery pushed for over a year or something!....YOU MEAN NOBODY KNEW THEY WOULD NEED 6MILLION BARRELS OF CRUDE TO start production FOR OVER 1 FREAKING YEAR!!!!!


what kind of SUPREME LEVEL OF INCOMPETENCE IS THIS FOR A 20 billion dollars(was it 10 billion) REFINERY

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.

preach brother,

Tell these blind loyalist the truth!!!

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.

How do you keep the government on its toes? Have Nigerians ever been successful in keeping the government on its toes?
Let's not continue to use terms that really means nothing to the Nigerian people.

Mansa6:


Research pls..

Nonsense talk then

Paraman:
The Dangote refinery will also export refined petroleum to other countries.

but when he exports what is the guarantee that the dollars revenue would all be brought back into the Nigerian economy ? They all have foreign/offshore accounts and dangote might also have foreign investment which this revenues from foreign sales might be diverted to.

Gerrard59:


Nigeria is closer to Europe than India, where the continent buys crude oil. Although, Indian refined oil is cheaper because of discounts by Russia, but logistics costs, especially as a result of the Suez Canal, should make it quite costlier than Dangote's. As you said, he has no obligation to sell to Nigerians. Even if he did or he does, the price will be at global rates. Dangote is going to be stupendously wealthy in the next decade. No one in Africa will unseat him as the richest individual.

The subsidy ought to have gone since 2012, but intellectwats who campaigned and voted for Buhari, including Tinubu, fought against it.

Nigerians deserve their rulers.

India's price competitiveness for refined output will remain superior in the near term.
However, much of America's refining capacity was built pre-shale boom and new installations have been quite tame.
In certain instances, America's shale oil is exported to be refined elsewhere and the refined products are reimported.
And since Texas-the runaway largest oil producing state-is on the East Coast, he's got a good portion of his needs covered.
The world is awash with oil and the global appetite for energy is not waning anytime soon, to the chagrin of tree huggers.

I do think he should have started out with significantly smaller capacity and adopted a multi-train format.
But I'm no engineer and I'd assume his advisors know their onions.
His ambition is contagious tho'.
He's already making plans to venture into steel production.
If Nigeria wasn't a dumpster fire, he'd have been able to keep up with the Indian industrialists and become a trailblazer on the continent.

He's building wealth the good ol' fashioned way backed by unassailable means of production.

-Lord

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.

The US has the world's largest crude oil reserve. More than Russia, which is second. Guess what, the US is not even in OPEC. The US only buys crude from countries to get a hold on the government of those countries. Simple.

TimeManager:

That dude is ignorant, very ignorant. As they say, ignorance is a disease.
For clarity, Dangote refinery needs 6million feedstock of crude oil to jump start production and obviously, NNPCL doesn't have the production capacity to supply such an enormous amount currently, hence the need to find as many buyers.

-kiss the truth!

you are the one that is largely ignorant dangote has already gotten the 6million barrel to kickstart operations, secondly the dangote refinery can only produce 650k barrels per day and Nigeria produces 1.7 million barrels of crude oil per day. Nigeria produces more crude than the dangote refinery can refine.

Paraman:
I don't have an answer to your dumb question.

But what u know is that, when he start selling, he won't be selling to Nigerians alone.

are you saying that your claim above that produced my question is dumb?

has he exported any product to you?

Can someone explain one good reason why Dangote doesn't want to patronize our own crude oil?

lexy2014:



has he exported any product to you?

I don't have an answer to your dumb question.

But Dangote will also sell refined crude to foreign customers.

TimeManager:

That dude is ignorant, very ignorant. As they say, ignorance is a disease.
For clarity, Dangote refinery needs 6million feedstock of crude oil to jump start production and obviously, NNPCL doesn't have the production capacity to supply such an enormous amount currently, hence the need to find as many buyers.

-kiss the truth!

you're talking trash

Paraman:
I don't have an answer to your dumb question.

But Dangote will also sell refined crude to foreign customers.

are you saying that your claim above that produced my question is dumb?

guyman never begin produce, you are talking of exporting. has he exported any product to you?

lexy2014:

are you saying that your claim above that produced my question is dumb?

guyman never begin produce, you are talking of exporting. has he exported any product to you?

k

Stop crude oil theft and there will be more than enough Nigerian oil for Dangote. Develop more oil and gas field and there will be enough raw material. Fix the price for domestic crude and more modular refinery will spring up. If I have an onshore field, I would sell to a refinery closeby rather than pipe it to an offshore offloading terminal.

Why won't he work for his own pocket?
He owns the refinery of course...

But you only read the news and jumped to comment without finding out why. The main reason is because Nigeria cannot keep up with crude oil supply; crude oil theft being one of the reasons.... So Dangote has to to look elsewhere for product so as to keep the refinery running.....

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

This thief is looking for free dollar... Nigerians this is the man making the country backward

Slayar:
Simillar to what Nigerian pastors do . collect money from congregation to build school,then set the fees as high as possible so that members cannot afford it.

Dangote is a private business though. Nigerian has dedicated large chunks of its production to repaying debts it took on the promise of oil production. Our crude alone cannot service Dangote refinery at this time because the government has obligations to meet.

Available9:
This thief is looking for free dollar... Nigerians this is the man making the country backward

Some of you people comment and reason with sentiments without looking at all the fundamentals that are wrong with our country in terms of oil production and refining.

I expect this news to be fake, hopefully!



However, if it's true, then, the Dangote Refinery is a fraud of an unimaginable proportion.



It shows that Nigerians have once again been scammed by this mega, selfish and greedy monopolist called Dangote.



Nigeria is touted as one of the largest oil producers in Africa and for a local refinery to go shopping for crude oil in faraway USA is indeed pathetic and unpatriotic, to say the least.



Dangote should have built his rogue refinery abroad instead of taking Nigerians for a ride.




Dangote: bloody Shylock and a scammer of all time!





@hotseat

samsard:
Some of you people comment and reason with sentiments without looking at all the fundamentals that are wrong with our country in terms of oil production and refining.

More than 50% of our forex goes to this man, and when he export his products, he uses the revenue to buy raw materials directly from the country buying his products...we are talking real economics here, not sentiments

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

What is the problem, as far as dangote will export the refined oil.
US that is the biggest buyer of Nigerian crude oil, has more crude oil deposit than Nigeria.

Could this be dangote's ploy to keep profiting from importation? Could this be his ploy of making gains from foreign exchange or balancing/using his foreign exchange earnings to pay foreign suppliers or simply a ploy for money laundering??

I am wondering because Nigeria can supply the total crude oil needed at dangote refinery.