₦airaland Forum

Some countries especially US lays much emphasis on balance of trade

For dangote to export refined oil to US, he will have to import US crude


This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Secondly, Nigeria can not meet dangote 650,000 barrels daily crude oil requirements

Dangote refinery would need close to 20 million barrels of crude oil every months. With 1 million + Plus barrels per day, I don't think Nigeria can satisfy the refinery because Nigeria two would need dollars so they will not want to focus on dangote refinery alone.

Moreso, Buhari government used our crude oil to take loan, so not much crude can be supplied to Dangote refinery.

Another possible reason is that crude oil are not the same all over the world.

B

.

Biodun556:
Some countries especially US lays much emphasis balance of trade

For dangote to export refined oil to US, he will have to import US crude

There's no nonsense that you cannot defend...gazelle gagaraga explainer

Oya explain why killings, kidnapping, banditry and high cost of living is too high under your ebola govt

Can his refinery produce for the whole Nigeria? Why all this export talk when federal government wasted money buying 20% shares

Ozommadu:
There's no nonsense that you cannot defend...gazelle gagaraga explainer

Oya explain why killings, kidnapping, banditry and high cost of living is too high under your ebola govt

This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Biodun556:
This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Dangote is set to import crude oil with rare dollars and you see nothing wrong with that??

So suddenly there's nothing wrong with importation?

Traders doing importation business are the reason economy if failing but dangote crude oil importation is good abi?? Hypocrite

Ozommadu:
Dangote is set to import crude oil with rare dollars and you see nothing wrong with that??

So suddenly there's nothing wrong with importation?

Traders doing importation business are the reason economy if failing but dangote crude oil importation is good abi?? Hypocrite

Dangote refinery would need close to 20 million barrels of crude oil every months. With 1 million + Plus barrels per day, I don't think Nigeria can satisfy the refinery because Nigeria two would need dollars so they will not want to focus on dangote refinery alone.

If this op were told he is not his fathers child, he will find reasons to defend why his mo.ther slept with anoda man, tueeeh

Biodun556:
Some countries especially US lays much emphasis on balance of trade

For dangote to export refined oil to US, he will have to import US crude


This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Secondly, Nigeria can not meet dangote 650,000 barrels daily crude oil requirements

Dangote refinery would need close to 20 million barrels of crude oil every months. With 1 million + Plus barrels per day, I don't think Nigeria can satisfy the refinery because Nigeria two would need dollars so they will not want to focus on dangote refinery alone.

Problem is, the USA crude may be a bit expensive...that is why people are grumbling.

Anyways, crude in Nigeria is probably slightly less costly than USA...since we sell at OPEC price which would be close to US price.

we don't even have the crude oil to supply Dangote, it seems Nigerians have forgotten that Buhari had already used our oil as collateral to borrow loans and even the present government is making a deal to get about 3b dollars loan and repay it back with crude oil, so with all these commitments here and there i doubt if nnpc and Nigeria will have enough for Dangote refinery.

Biodun556:
Some countries especially US lays much emphasis on balance of trade

For dangote to export refined oil to US, he will have to import US crude


This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Secondly, Nigeria can not meet dangote 650,000 barrels daily crude oil requirements

Dangote refinery would need close to 20 million barrels of crude oil every months. With 1 million + Plus barrels per day, I don't think Nigeria can satisfy the refinery because Nigeria two would need dollars so they will not want to focus on dangote refinery alone.

There's no crude on ground, them don use all the crude collect loan finish.

nairalanda1:
Problem is, the USA crude may be a bit expensive...that is why people are grumbling.

Anyways, crude in Nigeria is probably slightly less costly than USA...since we sell at OPEC price which would be close to US price.

It will not affect price of local consumption

CBN has hinted that the fuel price will drop

Biodun556:
Some countries especially US lays much emphasis on balance of trade

For dangote to export refined oil to US, he will have to import US crude


This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Secondly, Nigeria can not meet dangote 650,000 barrels daily crude oil requirements

Dangote refinery would need close to 20 million barrels of crude oil every months. With 1 million + Plus barrels per day, I don't think Nigeria can satisfy the refinery because Nigeria two would need dollars so they will not want to focus on dangote refinery alone.

Mr I too know. Did dangote tell you this

Much ado over somebody's private business 😁😁

Lol funny ,let's wait till we hear the price of fuel first

onatisi:
we don't even have the crude oil to supply Dangote, it seems Nigerians have forgotten that Buhari had already used our oil as collateral to borrow loans and even the present government is making a deal to get about 3b dollars loan and repay it back with crude oil, so with all these commitments here and there i doubt if nnpc and Nigeria will have enough for Dangote refinery.

Exactly

You're so current

Yourprick:
Lol funny ,let's wait till we hear the price of fuel first

The price will come down, no doubt

Biodun556:
Some countries especially US lays much emphasis on balance of trade

For dangote to export refined oil to US, he will have to import US crude


This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Secondly, Nigeria can not meet dangote 650,000 barrels daily crude oil requirements

Dangote refinery would need close to 20 million barrels of crude oil every months. With 1 million + Plus barrels per day, I don't think Nigeria can satisfy the refinery because Nigeria two would need dollars so they will not want to focus on dangote refinery alone.

Moreso, Buhari government used our crude oil to take loan, so not much crude can be supplied to Dangote refinery.

You left African countries that are closer and you are exporting to USA that is far.

Foul foul foul!

Dangote is doing a wonderful plan and people seem to forget that Dangote is not starting with petrol, he is starting with jet A1 , kerosine and diesel, these two have no subsidy on them and it is directly pegged to us dollar naija market rate. we all know that the only reason why fuel is been sold at 600/700 now is because govt is paying subsidy, if not the price of fuel should be around 900 as at today since dollar is 1500.
that

Biodun556:
The price will come down, no doubt

He will build Nigeria like he built Lagos
We are still waiting for the blueprints
Everybody go collect suffering no get tribe

Biodun556:
Some countries especially US lays much emphasis on balance of trade

For dangote to export refined oil to US, he will have to import US crude


This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Secondly, Nigeria can not meet dangote 650,000 barrels daily crude oil requirements

Dangote refinery would need close to 20 million barrels of crude oil every months. With 1 million + Plus barrels per day, I don't think Nigeria can satisfy the refinery because Nigeria two would need dollars so they will not want to focus on dangote refinery alone.

Moreso, Buhari government used our crude oil to take loan, so not much crude can be supplied to Dangote refinery.

Can you quote the source?

Biodun556:
It will not affect price of local consumption

CBN has hinted that the fuel price will drop

It won't drop. The optimists predict a N70 drop. Reality is that Dangote has to pay back his loans and pay competitive salares, so prices would jump.

NOthing to do with politics, and everything to do with realities of oil price. It's because we have spent 50 years being protected from the real fuel price that we think it has to be cheap.

Only way prices can drop is simples. Remove subsidy. Let the market set the price, meaning more refineries...and maybe several years later, prices may drop.

nairalanda1:
It won't drop. The optimists predict a N70 drop. Reality is that Dangote has to pay back his loans and pay competitive salares, so prices would jump.

NOthing to do with politics, and everything to do with realities of oil price. It's because we have spent 50 years being protected from the real fuel price that we think it has to be cheap.

Only way prices can drop is simples. Remove subsidy. Let the market set the price, meaning more refineries...and maybe several years later, prices may drop.

Let's wait for it

Lame excuse, he should at least refined the ones for Nigeria use

We were told he was going to refines for local consumption and the rest exported, so what mumu excuse is this

Defending nonsense like gazelle gagaraga

A born liar will always have excuses. Nigerians are in for a ride.

Biodun556:
Some countries especially US lays much emphasis on balance of trade

For dangote to export refined oil to US, he will have to import US crude


This is why US is imposing heavy tariff on Chinese imported products because what China is exporting to US is far more than what US is exporting to china. To desperately balance the trade US impose heavy tariffs on Chinese imported products

Secondly, Nigeria can not meet dangote 650,000 barrels daily crude oil requirements

Dangote refinery would need close to 20 million barrels of crude oil every months. With 1 million + Plus barrels per day, I don't think Nigeria can satisfy the refinery because Nigeria two would need dollars so they will not want to focus on dangote refinery alone.

Moreso, Buhari government used our crude oil to take loan, so not much crude can be supplied to Dangote refinery.

Another possible reason is that crude oil are not the same all over the world.

Must you talk . If you have nothing to say just shut your mouth and stop talking bullshit

I swear to God this is the most idiotic thing I have heard this year
Obviously inspired by unemployment

Rubbish
Lies
Imperialism
We can sell to other African & Asian countries at decent rates
Why USA

It's a huge slap on the face of Nigeria, a member of OPEC and the 6th largest oil producer in the world to import refined petrol when it has no refinery, and to also import crude oil now that it has a refinery. This doesn't make a slightest sense.