₦airaland Forum

KnowAll:
To me, the truth be told, the man has had it easy, pandering to any Government in power and getting sufficient patronage. He was once the King of Sugar, imported Sugar and King of Rice imported Rice obviously helped by the military government of the day and every other government since Obj to Buhari.
My take is if Dangote requires crude, I am sure the Government would say buy it at prevailing dollars rate per barrel. But something tells me Mr Dangote wants to buy it in Naira. I think that is the bone of contention.
After all if I am looking for Dollars & a Nigerian can give me the dollars why go look for oyinbo that would give me the dollars. Abi I lie
Nobody is telling us the real “ koko “ the real bone of contention, but my instinct tells me it bothers around pricing.
Like someone said e be like say Mr Dangote has over exposed himself and may be dithering on bankruptcy if care is not taking.
We go siddon look oh😳

Dangote Refinery has revealed plans to buy at least 24 million barrels of US crude over the next year as it ramps up its processing capabilities.
A report by Bloomberg revealed that the $20bn refinery has issued a term tender for the purchase of 2 million barrels a month of West Texas Intermediate Midland (WTI) crude for 12 months starting in July, which amounts to 24 million barrels of crude in one year.
The call for US oil reflects Nigeria’s struggle to lift its own crude production, which remains well below theoretical capacity, as well as Dangote’s willingness to tap cheaper supplies than it can find at home. It also highlights how influential the refinery will be in global crude and fuel trading.
Elitsa Georgieva, Executive Director at Citac, an energy consultancy specializing in the African downstream sector, said: “Supply of Nigerian crude is insufficient or unavailable and sometimes unreliable. WTI on the other hand, is available, with reliable supply and competitively priced

Kobojunkiee:
That is why I say and I still repeat that Dangote is scamming the Nigerian people. He never tell truth yet about what it is he really wants, it seems, from the Nigerian government in this.

KnowAll:
■ I agree with you, I don’t see the logic why Nigerian would not sell crude to Mr Dangote but prefer to seek someone in far away India or China to sell crude to. They say what is inside your trousers you dey look for am in far Sokoto. Knowing Nigerian business men they would like to cut corners to a few bob!

malali:
Oil market has to be sanitized in Nigeria.
There should be records of crude sales
Petrol bought
Prices paid and received
Barrels and liters
Who are the contractors ?
what are their bids ?

If you open up the market and Dangote can beat the prices, then we are dealing with an open non-monopolistic/Cartel marketing.

But as long as its all shrouded in secrecy, the whole sector will continue to be plagued and ridiculed with all these corruption allegations.

EcoNews:
Obidient Ipob have started vilifying Dangote again, tomorrow if you remind them of this act they will say you are tribalistic.

Which country will have a refinery like Dangote n not provide it with all that is required to ensure it success ?!