₦airaland Forum

Northernblood7:
You go explain explain explain Tire, No evidence. You go explain till your head gets flat at the front with patch of bald head at the back yet it won't end the bad state of things.

Northernblood7:
https://www.bloomberg.com/news/articles/2024-01-29/nigeria-s-mega-refinery-turns-to-us-oil-as-ramp-up-gathers-pace

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.

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

pharmagba:
But behold he met president Tinubu a shrewd auditor who understands all the processes.

Fujiyama:
^^^


You just had to throw in the praise singing bits, right?

He isn't shrewd. His abysmal management of the economy so far should have settled that question for you. And he obviously doesn't understand "the processes" at all. If he did, things wouldn't be this bad.

At least you didn't call him a "first class accountant". Thank God for small mercies...

Bankowner:
This is not hate bro! it is common sense.
I buy bread from you in Lagos, I take it to Aba. Someone from Lagos comes to Aba to buy the same bread and takes it back to Lagos with no value added. Does it make sense?

Mansa6:
Nigeria is NOT finished,you natural born failure..

And I like it that you have accepted your father's fate of being less privileged..

You express their characteristics...keep complaining about hardship and pass it on to the next generation like your forefathers did..

pharmagba:
You seem to be oblivious of the fact in the news of how we got here.
NNPC said they never remitted a dime into federation account in 2022? Can you beat beat that? Yet we produce close to a million barrel per day?

cornelman:
Fine, so why do supporters of government proclaim dangote refinery as an economic masterstroke that will ease the stress on the economy.
Just like you said, dangote refinery is a private business and a profit oriented one at that, and gives no damn about who eats or not. Dangote will sell his fuel at an international standard rate to ensure continuity in business. Any sensible businessman would do the same if I were in his shoes.

For me, I think the only problem is dangote given the licence to import and have access to the already scarce dollars to fund his private business. Doing that kills the economy more. Let him source for dollars like other business men.

People talk about dangote exporting to other countries, they forget that it's only a fraction of it that will be returned to the economy in USD. Most of the money might be invested in other businesses abroad and there's nothing anyone can do about it.

People needs to understand that Dangote refinery is not Nigeria's refinery.

LordAdam16:
dvisors 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

caye:
In Nigerian terms, without using big-big grammar, explain shale oil , Vis a Vis:-

1) where it is got
2) the differences in processing btw shale and normal crude oil

3) the average cost of production of shale compared to normal Niger-Delta sweet crude
Thanks.

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.
His refinery sits right on the shoreline.
With clever accounting, he could also get away with paying peanuts in taxes.

If I were in his shoes, I'll do the same thing.
Nigerians can kick rocks.
When they're fed up with destructive partisanship, they know what to do.

-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.

Northernblood7:
Where are the Morons that said that the reason why their life is miserable is because Dangote refinery have not started producing? Can we all see now that Dangote refinery will end up putting more pressure on dollar making life more miserable for foolish Nigerians than they e have now?




So Nigerians will be the ones suffering for other countries abi? Dangote buys crude oil in USD causing our currency to depreciate less than our neighbours. Neighbouring countries will then cross over to Nigeria and import our very cheap petroleum products to them due to high currency value they have over Naira. Last last, Nigerians suffer the most.

Tinubu is not smart. This is not a curse but a fact



Shame on you Dangote needs 650k barrels only. Don't say what nobody said. You are the one saying all crude should be given to dangote not me

https://punchng.com/oil-production-now-1-7-million-barrels-daily-says-fg

killsmith:
Only fools would expect criminals to not be criminals.

Chicagograduate:
They will now increase the price of fuel and say they bought at international markets.Does u.s have crude oil?

kokoA:
People fail to understand that Dangote is a private business out to make profit. Only a foolish business man will depend on one source for his raw materials, if he has the capacity to refine various crude so nothing stops him from buying from wherever he chooses. If Nigeria has crude always available for him then that's a plus else's business must go on.

internationalman:
Yes. As a matter of fact Nigeria doesn't have crude oil compared to USA

studyless123:
Where did you get that information? You mean an additional 10mbpd to be added in just 4 years.(2027) That's an inaccurate information.

ispreloaded:
thing is dat we can produce more them USA but no refineries here....y'all know USA for production .... They can produce anything ....so it's the refineries dat is the problem for Nigeria

internationalman:
Yes. As a matter of fact Nigeria doesn't have crude oil compared to USA

Gerrard59:
I like his wealth approach - solve the needs of a developing country not creating 1000 and 1 fintech apps. But where would he get cheap and quality iron ore? What about power supply? Unless import restrictions, he would find it hard to compete against the Chinese. Those people produce steel as if it is picking sand in the Sahara.

LordAdam16:
Use Google.
Like it's not difficult. https://www.globaldata.com/store/report/crude-oil-refinery-projects-market-analysis/
Asia alone accounts for 9 mbpd in additions.
The figure I stated was conservative.

-Lord

Northernblood7:
Where are the Morons that said that the reason why their life is miserable is because Dangote refinery have not started producing? Can we all see now that Dangote refinery will end up putting more pressure on dollar making life more miserable for foolish Nigerians than they e have now?





So Nigerians will be the ones suffering for other countries abi? Dangote buys crude oil in USD causing our currency to depreciate less than our neighbours. Neighbouring countries will then cross over to Nigeria and import our very cheap petroleum products to them due to high currency value they have over Naira. Last last, Nigerians suffer the most.

Tinubu is not smart. This is not a curse but a fact



Shame on you Dangote needs 650k barrels only. Don't say what nobody said. You are the one saying all crude should be given to dangote not me

https://punchng.com/oil-production-now-1-7-million-barrels-daily-says-fg