₦airaland Forum

As usual, you are right. Purely hereditary, no blame. Kwontinue
The idiocy

Freestar:
Look at this Neanderthal talking about inconsequential.

If you were of any consequence you would not make the obviously unintelligent statement that you made in your post.

Tinubu paid deceiver. Please run along. You have been measured, weighed and found wanting. Bloody dolt.

Wisdomkosi:
Source : https://politicsnigeria.com/dangote-end-of-the-road-for-a-monopolist-by-soji-adekunmbi/

With absolutely no remorse, I must say this is a very stupid take! I am not a Dangote fan and even when he was having squabbles with BUA, I took the side of BUA and yes, you may accuse Dangote of trying to kick BUA out of the cement business to enjoy a monopoly but how can you even bring the issue of monopoly into this issue of petroleum refining? Monopoly against who? Marketers? How many refineries do they have in Nigeria to regard themselves as competitors against Dangote? For the records, Dangote refinery, upon completion will have a refining capacity of 650,000 barrels a day., the 3 NNPC refineries have a combined capacity of 445,000 barrels a day and is not even operating at up to a quarter of that capacity today. Did the clown responsible for the silly post here even for a second consider what effect that will have on the Nigerian Job market? I mean does he care how many jobs the new refinery will create? How can these marketers even be considered as Dangote's competitors? Which sane country will destroy an indigenous refinery so as to give a competitive edge to importers of a product which can be produced from a raw material that can be locally sourced? Kai Nigeria? How can that be justified? Nigeria! the wicked mother that eats her babies!

Before They Kill Dangote Refinery

The Dangote Refinery has been a topic of discussion in recent times, with many naysayers trying to sabotage the project. It's no secret that some individuals and groups are not happy about the emergence of a local refinery that will challenge their decades-long exploitation of Nigeria.

The recent controversy surrounding the refinery's diesel production is a clear example of this sabotage. Despite the refinery's efforts to produce high-quality diesel that meets international standards, some individuals and groups have been spreading false information to discredit the project.

Oh joy, let me just contain my excitement about defending a project owned by the infamous monopolist, Aliko Dangote. I mean, who doesn’t love a good oligarch, right? But seriously, as much as I dislike Dangote’s business practices and the fact that he's basically the sole beneficiary of Nigeria’s economy, I have to admit that this refinery project is not something we should be playing politics with.

I mean, come on, people! Let’s not be ridiculous. We’re talking about a project that has the potential to transform our economy, create jobs, and reduce our reliance on imported fuel. And yet, we’re here debating whether or not it’s a good idea? Give me a break!

And don’t even get me started on the so-called “concerns” about the project’s quality. Oh please, spare me the drama. We all know that the only reason some people are against this project is because it’s owned by Dangote. If it were anyone else, they’d be singing its praises. Or better still, may be the need to continue siphoning money in the name of subsidy is their sole reason for pulling down this great project. That’s obvious enough though!

But let’s be real, folks. This project is not about Dangote; it’s about Nigeria’s future. And if we’re going to let our personal biases and political agendas get in the way of progress, then we’re never going to move forward.

The gospel truth is that the Dangote Refinery is a game-changer for Nigeria and Africa. The refinery's diesel production has been tested and proven to be of high quality, with a sulfur content of 77ppm, which is far below the Euro-V standard. The flashpoint of the diesel is also high, indicating less contamination and a lower risk of flammability.

Despite these facts, some individuals and groups continue to spread false information to undermine the project. They claim that the refinery's diesel production is of poor quality and will harm the environment. However, these claims are baseless and only serve to demonstrate their selfish interests.

It's clear that these naysayers are afraid of the competition that the Dangote Refinery will bring. They are afraid that a local refinery will challenge their dominance in the oil and gas sector and reduce their profits. However, their selfish interests should not be allowed to sabotage a project that has the potential to transform Nigeria's economy.

So, by all means, let's criticize Dangote's business practices and his stranglehold on our economy. But let's not conflate that with this project. It's time to put our country first and our personal feelings second.

And to those who are still opposed to the project, I say, get over yourselves. This is not about Dangote; it's about Nigeria. And if you can't see that, then I feel sorry for you.

The Dangote Refinery is, no doubt, symbol of Nigeria's potential and a testament to the country's ability to produce high-quality products. It's a project that should be supported and encouraged, not sabotaged by selfish individuals and groups.

As the refinery prepares to commence operations, it's important to remember that the success of this project is crucial for Nigeria's economic growth and development. We should not allow naysayers to kill the Dangote Refinery with their false information and selfish interests.

Instead, we should support the refinery and encourage it to continue producing high-quality products that meet international standards. The Dangote Refinery is a beacon of hope for Nigeria's economy, and we should do everything possible to ensure its success.

Let's stop playing politics with this project and focus on what really matters – Nigeria's future. We can't afford to let our personal biases, selfish interests and agendas hold us back any longer. It's time to move forward, and if that means supporting a project owned by Dangote, then so be it!

-
De Don.

All I know is that we suddenly have DANGOTE lovers from the region they formally hate him most.....no be juju be dat

Haters plenty for this country o, walahi!! What nonsense is this man talking about by saying end of the road for monopoly? It is not like Dangote is shouting and crying because of the existence of new refineries that can rival his. This is about sabotage by government officials

Bros create thread and awareness about this crime nah

Freestar:
Lol. You are indeed naive if you think Tinubu is interested in anybody else but himself.

It really goes to show how self deluded you folks supporting Tinubu are.

The article below has been flying around online for sometime now. You must not have seen it.

Read and be informed:

Copied.

When I saw the Malta 🇲🇹 NNPC comment by Dangote, I suspected there was more to it. Our group decided to investigate further.

Our discovery was deeply shocking.



Firstly I will breakdown the whole Oil theft process and how Oil exporting and importing business works here in Nigeria .
NNPC grants importation licenses to a select group of oil companies, which are responsible for importing petroleum products into the country. These companies set the prices for petroleum products, and the media often refer to them as "oil marketers."

We’ve another set responsible for exporting/selling unrefined petroleum products both locally nd internationally. NNPC nd few partner companies plays a major role in this sector, along with high-ranking govt officials, military leaders, and politicians who are involved in oil theft.

To better understand this thread I will briefly explain how oil exportation and importation works in Nigeria.

Please note every point I will list, you will need them as reference as we progress, very important.

1. Extraction: Oil is extracted from the ground using drilling rigs.

2. Processing: The crude oil is exported(internationally) to refineries where it is processed into refined products

3. Transportation: The processed oil are transported from the refinery to storage tanks, blending facilities, and ports, typically via pipelines or ships.

4. Export: At the port, the oil is loaded onto tankers or other vessels and shipped to Nigeria and other countries

5. Sale: The oil is sold to buyers in Nigeria at a price set by the importer (oil marketer). The government subsidizes a significant portion of the oil price to make it more affordable for citizens, a practice known as fuel subsidy.

Now let’s link the list together.

Recently, Oando PLC announced the approval to acquire 100% of Nigerian Agip Oil Company. This effectively means that the Tinubu family now owns Agip Oil, which is part of Eni S.P.A., an Italian multinational oil and gas company.

Agip Oil operates 17 onshore oil blocks and produces 11 million barrels of oil and condensates annually, and it also manages the Bonny natural gas liquefaction plant.

One might wonder why such a successful company would divest 100% of such a critical asset.

Observing similar situations, like the case with Dangote, suggests that this sale was not made lightly.

Now, these crucial oil fields and plants in Nigeria are under the control of Tinubu through Oando PLC which is Tinubu’s family owned not even NNPC.

Stay with me please.

Continuing, with their control over substantial oil reserves in the Niger Delta and the ability to explore further through Agip Oil, their next step is refining.

Instead of building a refinery in Nigeria, they opted to construct one in Malta 🇲🇹.
This move allows them to exploit the country's resources and obscure their activities.

In early 2021, Enemed Co Ltd, the leading fuel supplier in Malta, issued a tender for the leasing of storage tanks and a blending facility at the Ras Hanzir Oil Terminal in Malta.

Ras Hanzir Oil Terminal Limited won the bidding. It is owned and operated by the Tinubu family, with Wale Tinubu, who is also the chairman of Oando PLC, serving as its chairman along with other members of the Tinubu family and their associates.

The company has already established a functioning refinery in Malta, they have now acquired the storage tanks and blending facility oil terminals, which were recently exposed to the public.

Stay with me please.

After Tinubu was sworn in as president, his first major move was to announce the removal of fuel subsidy, while the government continued to pay in secret, allowing him to increase petroleum product prices. This move was designed to benefit his own monopoly.

With the recent forced acquisition of Agip Oil by Oando PLC, Tinubu as an individual has become the largest oil exporter, explorer, and marketer in the whole country, second only to NNPC.

Here’s the pattern: Tinubu, through NNPC, will sell Nigeria’s oil to himself at a low price via his company in Malta. He will also explore, extract and export oil using his newly acquired Agip Oil Company, which operates across the Niger Delta states of Ondo, Edo, Delta, Bayelsa,
Rivers, Imo, Abia, Akwa Ibom, and Cross River.

Tinubu will then buy back the refined oil from his company in Malta through NNPC and as an oil marketer via one of his companies OVH Energy(Oando) at a higher price and export them back to Nigeria.
The refined oil is sold to the Nigerian public at a high price, while the subsidy, although officially removed, is still being paid secretly. Essentially, Tinubu is paying himself subsidy.‼️


This scheme is an extraordinary level of financial exploitation

Even after he leaves office, and Nigeria remains without a refinery which he will make sure of, his Oil Monopoly over the country will remain standing. As if that is not enough, the govt will still pay him for subsidy!

He sold Over 2 Billion Dollars worth of petroleum products to Nigeria through the Malta refinery just in 2023 alone, that’s an example of what the future of Nigeria Oil importation will look like

That’s why he will fight the Dangote refinery with everything he has because if it becomes operational, his multi-trillion-Naira oil monopoly enterprise will collapse.

Odin13:
Total gibberish from a ewedu soul

Nigerians are not fooled.. maybe Yoruba people .

Nigerians .. no!

Explain Tinubu and Agip and sup in Malta

Not dangote..

Yoruba people keep changing narratives and pushing theirs like say Nigerians are Yoruba people

Silly post

Next!

You guys should stop lumping all people from a particular tribe, religion or political parties together. It is a silly mentality

Thegamingorca:
Bros create thread and awareness about this crime nah

You are right bros. Question is whether Nairaland mods will allow it get to front page.

But I will, just the same

OkCornel:
The government has four refineries that aren’t working despite consuming over $40 billion in maintenance costs between 1999-2024. More than twice the amount Dangote used to set up his refinery.

But Dangote is the monopolist. Yeah right…

Before you fall for the narrative that Dangote is trying to promote through the media I just want you to take a look at the facts. No European refineries will close simply because of Dangote. Case in point let's look at European airspace and Nigerian Airspace. When you see the map on flight radars you will see a lot of planes on the European Airspace but very few on Nigerian Airspace. What powers the planes? Oil. When you look at other industries like power and manufacturing etc. and compare it to Europe the difference is very big. Keep in mind Europeans have constant electricity, Nigerians don't. Don't let anyone decide us that European refineries will close because of a very small oil market like Nigeria.

A section of the PIA gave owners of refinery license to import petroleum products.. It's like Dangote was hoping that since he'd be the only one with refinery, they he only will have control of petroleum products coming into the country and be selling at any price he likes.. That was why Emefiele was pumping billions of Nigeria's money into a privately owned project.

Any Nigerian rejoicing over Dangote refinery when none of Nigeria's refineries are functional is a mor0n.. It's just like rejoicing over any random person opening business to make profit. He didn't open refinery to solve your problems or dash you free fuel, the earlier y'alll realize this, the better.

The Dangote guy should go and compete and stop relying on blackmail and sentiments to have sole authority over what 220 million people in Nigeria depend on.
The benefits of competition are too numerous.. consumers will have options to select from, will have cheaper options, fair pricing will come in, product improvements, improvements in quality and standards, etc. You either sell good quality things or go out of business. That's the rule of the free mearket.

Yes to FREE MARKET, No to MONOPOLY

All the story highlights is the mafia in the oil and gas industry
Tinubu should do whatever it takes to resolve the issues around this Dangote refinery palaver.
We have just seen the reason why Nigeria government owns refineries can not work.
Everything that has been done to make our local refineries work has proved abortive just because of the international mafia group.
Now that an individual has been able to built a refinery in Nigeria, the government is under obligation to help make the project work to help make life more prosperous and easier for Nigerians.
How many years ago did we started the business of oil exploration that we still have to depend on international oil companies for everything.
If Tinubu government is serious about taking Nigeria and Nigerians to the promised land, then here is the best way forward.
Dangote refinery is the way forward.
Let the government buys more shares through NNPCL.
God help us

Nonybb:
The PR of Dangote did magic on Nigerians and it made them see him as a saviour that he is not. Dangote doesn't thrive in a competitive environment or he whine and complain. It is either a large percentage of the share market in supply chain or he goes straight to the government to leverage his stand. He is a tactical monopolist that cornered cement price. He did that to sugar as well. But his dooms day is oil, which is the lifeline of Nigerians since existence because aboki love oil so much. Tell me, how many people can afford cement today despite the large production. Dangote is a wicked one and people doesn't even know him

You talked as if most Nigerians are dumb that they need Dangote refinery PR brainwashing them before they could understand what's happening and who to blame and who to support.
And what competition is out there at the moment for Dangote refinery as at today? There is no any competition yet, just saboteurs in the government circle who don't want to let go of subsidy corruption through fuel importation

Wisdomkosi:
Source : https://politicsnigeria.com/dangote-end-of-the-road-for-a-monopolist-by-soji-adekunmbi/

So he;s a monopolist now lol

Racoon:
Hehehe! One sided jaundiced story. Open up on why the FG criminally denied shares in the Dangote Refinery thing as well as its involvement in the Malta scandal

Your parents wasted money on your education. The article answered your question.

Wisdomkosi:
Source : https://politicsnigeria.com/dangote-end-of-the-road-for-a-monopolist-by-soji-adekunmbi/

*This is for those who have the time and patient to read. But if you want to understand the situation of things in Nigeria, fuel price increase and the attendant hardship, read this*

Anonymous NG
@AnonXNG


When I saw the Malta 🇲🇹 TV NNPC comment by Dangote, I suspected there was more to it. Our group decided to investigate further.

Our discovery was deeply shocking.

Thread !

Firstly I will breakdown the whole Oil theft process and how Oil exporting and importing business works here in Nigeria .
NNPC grants importation licenses to a select group of oil companies, which are responsible for importing petroleum products into the country. These companies set the prices for petroleum products, and the media often refer to them as "oil marketers."

We’ve another set responsible for exporting/selling unrefined petroleum products both locally nd internationally. NNPC nd few partner companies plays a major role in this sector, along with high-ranking govt officials, military leaders, & politicians who r involved in oil theft.

To better understand this thread i will briefly explain how oil exportation and importation works in Nigeria.
Please note every point I will list you will need them as reference as we progress, very important

1. Extraction: Oil is extracted from the ground using drilling rigs.

2. Processing: The crude oil is exported(internationally) to refineries where it is processed into refined products

3. Transportation: The processed oil are transported from the refinery to storage tanks, blending facilities, and ports, typically via pipelines or ships.
4. Export: At the port, the oil is loaded onto tankers or other vessels and shipped to Nigeria and other countries
5. Sale: The oil is sold to buyers in Nigeria at a price set by the importer (oil marketer). The government subsidizes a significant portion of the oil price to make it more affordable for citizens, a practice known as fuel subsidy.
Now let’s link the list together

Recently, Oando PLC announced the approval to acquire 100% of Nigerian Agip Oil Company. This effectively means that the Tinubu family now owns Agip Oil, which is part of Eni S.p.A., an Italian multinational oil and gas company.

Agip Oil operates 17 onshore oil blocks and produces 11 million barrels of oil and condensates annually, and it also manages the Bonny natural gas liquefaction plant. One might wonder why such a successful company would divest 100% of such a critical asset.

Observing similar situations, like the case with Dangote, suggests that this sale was not made lightly. Now, these crucial oil fields and plants in Nigeria are under the control of Tinubu through Oando PLC which is Tinubu’s family owned not even NNPC.

Stay with me please

Continuing, with their control over substantial oil reserves in the Niger Delta and the ability to explore further through Agip Oil, their next step is refining. Instead of building a refinery in Nigeria, they opted to construct one in Malta 🇲🇹.

This move allows them to exploit the country's resources and obscure their activities.

In early 2021, Enemed Co Ltd, the leading fuel supplier in Malta, issued a tender for the leasing of storage tanks and a blending facility at the Ras Hanzir Oil Terminal in Malta.

Ras Hanzir Oil Terminal Limited won the bidding. It is owned and operated by the Tinubu family, with Wale Tinubu, who is also the chairman of Oando PLC, serving as its chairman along with other members of the Tinubu family and their associates.

The company has already established a functioning refinery in Malta, they have now acquired the storage tanks and blending facility oil terminals, which were recently exposed to the public.

Stay with me please

After Tinubu was sworn in as president, his first major move was to announce the removal of fuel subsidy, while the government continued to pay in secret, allowing him to increase petroleum product prices. This move was designed to benefit his own monopoly.

With the recent forced acquisition of Agip Oil by Oando PLC, Tinubu as an individual has become the largest oil exporter, explorer, and marketer in the whole country, second only to NNPC.
Here’s the pattern: Tinubu, through NNPC, will sell Nigeria’s oil to himself at a low price via his company in Malta. He will also explore, extract and export oil using his newly acquired Agip Oil Company, which operates across the Niger Delta states of Ondo, Edo, Delta, Bayelsa,
I’mRivers, Imo, Abia, Akwa Ibom, and Cross River.

Tinubu will then buy back the refined oil from his company in Malta through NNPC and as an oil marketer via one of his companies OVH Energy(Oando) at a higher price and export them back to Nigeria
The refined oil is sold to the Nigerian public at a high price, while the subsidy, although officially removed, is still being paid secretly. Essentially, Tinubu is paying himself subsidy.‼️

This scheme an extraordinary level of financial exploitation

Even after he leaves office, and Nigeria remains without refinery which he will make sure of, his Oil Monopoly over the country will remain standing. As if that is not enough, the govt will still pay him for subsidy!

He sold Over 2 Billion Dollars worth of petroleum products to Nigeria through the Malta refinery just in 2023 alone, that’s an example of what the future of Nigeria Oil importation will look like

That’s why he will fight the Dangote refinery with everything he has; if it becomes operational, his multi-trillion-naira oil monopoly enterprise will collapse.

The price of petroleum products like fuel will keeping increasing, while he still pays himself subsidy.

Considering his age, one might wonder what he needs all this money for, other than sheer greed. It's truly disheartening.

FalseProphet1:
I see anarchy....more hardship lies ahead.

This I have seen.

this all you can do uh,,what kind of prophet are you

It's a very elaborate and condensed report.

Though I support a lot of what he wrote, local refiners need to get access to locally produced crude oil.

We need to understand that it was on the foundation of this that spurred the building of oil refineries.

"If the nation has crude oil, why not also refine it as well?"

The most believable article I have read so far on the Dangote refinery saga.

Now I understand why balablu refused to remove the managing director of NNPC .

He is using the man to move our crude oil to his refinery in Malta and sell the refined product to us at crazy price while pocketing subsidy money.

What a heartless criminal?

SIRTee15:
So according to the writer, it's better for FG to be subsidising fuel from foreign countries than fuel produced locally
Whether we like it or not, FG will continue to subside fuel for a very long time to come.
If the writer believes it's better for the cash crunch FG to send our money abroad, then I won't blame people who insults Yoruba people as elenu meji.

Setting up a business in a Free Zone is a different ball game entirely from producing locally.. Free Zones are exempted from all the necessary checks, regulations, taxes, fines, etc. from the Government of Nigeria unlike those outside the Free Zones (within Nigerian Customs territory).
Don't worry, let Mobil complete their refinery, then you'd understand the difference in classification.

As it stands now, we consider petroleum products coming from Dangote Refinery as imported products that attract import duty and levy, unless the Customs guys decide to do otherwise

FreeStuffsNG:
A few options are available to Dangote but the most viable of them is that he should consider divesting some of his shares in the refinery. It may seem a difficult option but it is the best for him given the circumstances.

Very insightful article. Thank you for sharing OP.

I believe that he can sell some of the shares and buy back those sold shares when the refinery becomes operationally stable and profitable like he did with his Dangote Cement Plc listed on Nigeria Stock Exchange. His Dangote Cement ( DangCem) has been doing share buy back for some years till date.

May God bless Nigeria for ever! Check my signature for free stuffs!

If he decides to sell petroleum base on dollars rate most of you will come for his head saying monopoly shit but the write up clearly stated everything in dollars term

Whoever wrote this article is a very biased fellow.

What your Govt over the years failed to achieve, a man came aboard and got it done, Now you came up here calling such an achiever a monopolist?

Business is all about competition.
Dangote hasn't stopped anyone from competing.

Jomonix:
The most believable article I have read so far on the Dangote refinery saga.

What is believable about this trash? Why didn't the writer give any report about the alleged Malta blending firm owned by the Tinubu family?

How come our crude oil has since been refined in Malta refinery ( allegedly owned by Tinubu family) ever since Tinubu took over power and why is the president silence on the NNPC - Dangote saga?

Odin13:
Total gibberish from a ewedu soul

Nigerians are not fooled.. maybe Yoruba people .

Nigerians .. no!

Explain Tinubu and Agip and sup in Malta

Not dangote..

Yoruba people keep changing narratives and pushing theirs like say Nigerians are Yoruba people

Silly post

Next!

You are talking trash as usual, we are a capitalist economy not socialist, every business man should run their businesses abd stop expecting bailouts from the government. How many companies in Nigeria enjoys the kind of largesse Dangote gets from the government. On the issue of monopoly in cement, the write-up is not correct, lbeto was important cement powder and bagging it and not producing, Lafarge was the one monopolizing the market before Dangote came in.

Mawan:
Whoever wrote this article is a very biased fellow.

What your Govt over the years failed to achieve, a man came aboard and got it done, Now you came up here calling such an achiever a monopolist?

Business is all about competition.
Dangote hasn't stopped anyone from competing.

Haha. Dangote will cripple you if you try to comPete with him. Ask BUA.

loswhite:
If he decides to sell petroleum base on dollars rate most of you will come for his head saying monopoly shit but the write up clearly stated everything in dollars term

Go and read the article again. Slowly read that part that states that marketers import from overseas and sell in naira in Nigeria. So he has the option of using the local marketers on the fair terms they claimed he is giving to IOCs loading products from him.

Diesel has been completely deregulated so FG gives no subsidy on diesel. Wetin now concern FG? I have suggested a way for him to have more money to run the business since that seems to be a problem for this business, please suggest your own too instead of being uncouth.

*The Greed Called Bola Ahmed Tinubu And Why Dangote Must Be Axed!*

A Long Read, Worth Reading.......Please Share Across

When I saw the Malta 🇲🇹 NNPC comment by Dangote, I suspected there was more to it. Our group decided to investigate further.

Our discovery was deeply shocking.

Firstly I will breakdown the whole Oil theft process and how Oil exporting and importing business works here in Nigeria.

NNPC grants importation licenses to a select group of oil companies, which are responsible for importing petroleum products into the country. These companies set the prices for petroleum products, and the media often refer to them as "oil marketers."

We’ve another set responsible for exporting/selling unrefined petroleum products both locally nd internationally. NNPC nd few partner companies plays a major role in this sector, along with high-ranking govt officials, military leaders, & politicians who r involved in oil theft.

To better understand this thread i will briefly explain how oil exportation and importation works in Nigeria.
Please note every point I will list you will need them as reference as we progress, very important

1. Extraction: Oil is extracted from the ground using drilling rigs.

2. Processing: The crude oil is exported(internationally) to refineries where it is processed into refined products

3. Transportation: The processed oil are transported from the refinery to storage tanks, blending facilities, and ports, typically via pipelines or ships.

4. Export: At the port, the oil is loaded onto tankers or other vessels and shipped to Nigeria and other countries

5. Sale: The oil is sold to buyers in Nigeria at a price set by the importer (oil marketer). The government subsidizes a significant portion of the oil price to make it more affordable for citizens, a practice known as fuel subsidy.

Now let’s link the list together

Recently, Oando PLC announced the approval to acquire 100% of Nigerian Agip Oil Company. This effectively means that the Tinubu family now owns Agip Oil, which is part of Eni S.p.A., an Italian multinational oil and gas company.

Agip Oil operates 17 onshore oil blocks and produces 11 million barrels of oil and condensates annually, and it also manages the Bonny natural gas liquefaction plant. One might wonder why such a successful company would divest 100% of such a critical asset.

Observing similar situations, like the case with Dangote, suggests that this sale was not made lightly. Now, these crucial oil fields and plants in Nigeria are under the control of Tinubu through Oando PLC which is Tinubu’s family owned not even NNPC.

Stay with me please

Continuing, with their control over substantial oil reserves in the Niger Delta and the ability to explore further through Agip Oil, their next step is refining. Instead of building a refinery in Nigeria, they opted to construct one in Malta 🇲🇹.

This move allows them to exploit the country's resources and obscure their activities.

In early 2021, Enemed Co Ltd, the leading fuel supplier in Malta, issued a tender for the leasing of storage tanks and a blending facility at the Ras Hanzir Oil Terminal in Malta.

Ras Hanzir Oil Terminal Limited won the bidding. It is owned and operated by the Tinubu family, with Wale Tinubu, who is also the chairman of Oando PLC, serving as its chairman along with other members of the Tinubu family and their associates.

The company has already established a functioning refinery in Malta, they have now acquired the storage tanks and blending facility oil terminals, which were recently exposed to the public.

Stay with me please

After Tinubu was sworn in as president, his first major move was to announce the removal of fuel subsidy, while the government continued to pay in secret, allowing him to increase petroleum product prices. This move was designed to benefit his own monopoly.

With the recent forced acquisition of Agip Oil by Oando PLC, Tinubu as an individual has become the largest oil exporter, explorer, and marketer in the whole country, second only to NNPC.

Here’s the pattern: Tinubu, through NNPC, will sell Nigeria’s oil to himself at a low price via his company in Malta. He will also explore, extract and export oil using his newly acquired Agip Oil Company, which operates across the Niger Delta states of Ondo, Edo, Delta, Bayelsa, Rivers, Imo, Abia, Akwa Ibom, and Cross River.

Tinubu will then buy back the refined oil from his company in Malta through NNPC and as an oil marketer via one of his companies OVH Energy (Oando) at a higher price and export them back to Nigeria.

This scheme an extraordinary level of financial exploitation

Even after he leaves office, and Nigeria remains without refinery which he will make sure of, his Oil Monopoly over the country will remain standing. As if that is not enough, the govt will still pay him for subsidy!

He sold Over 2 Billion Dollars worth of petroleum products to Nigeria through the Malta refinery just in 2023 alone, that’s an example of what the future of Nigeria Oil importation will look like.

That’s why he will fight the Dangote refinery with everything he has; if it becomes operational, his multi-trillion-naira oil monopoly enterprise will collapse.

The price of petroleum products like fuel will keeping increasing, while he still pays himself subsidy.

Considering his age, one might wonder what he needs all this money for, other than sheer greed. It's truly disheartening

The refined oil is sold to the Nigerian public at a high price, while the subsidy, although officially removed, is still being paid secretly. Essentially, Tinubu is paying himself subsidy.‼️

Share This Thread Across All Platforms As We Prepare For The Protest!

This Is Wickedness ....

#EndBadGovernanceInNigeria

Odin13:
Total gibberish from a ewedu soul

Nigerians are not fooled.. maybe Yoruba people .

Nigerians .. no!

Explain Tinubu and Agip and sup in Malta

Not dangote..

Yoruba people keep changing narratives and pushing theirs like say Nigerians are Yoruba people

Silly post

Next!

Yoruba people mentality

Let’s hope the children of sentiments can read to comprehend as this piece has laid out the crux of the issues which borders expected favoritism, greed and the unwillingness to compete by Dangote in the crude sector as I mentioned in my response to the initial stories. Most won’t read but say article is too long yet continue to spew same gibberish.

Fact that refineries are not operational (which is clearly been sabotaged) does not mean one company corner and have all crude sectors in his pocket. Remember there are others coming on line and they need to be given equal opportunity to produce and be profitable as well. To be fair, the other side has something to gain as well. I won’t doubt for one second Tinubu has cogs in all the sectors either and Dangote coming in undercuts his business practices. Ultimately everybody wants to monopolize the oil market is effectively what it boils down to. Bihari didn’t have interest so he was able to put resources behind Dangote but Tinubu does therefore he won’t want to hurt his market by doing so.

Trash.
Why isnt any of four refinery working under the faultless NNPC.

Anyone who controls the oil industry in Nigeria has a say in governance. If Dangote wins this, it'll be much bigger than all of his other investments combined. But the oil tycoons will put up a tough fight. There are many fallacies in the article up there. The writer was only trying to appear smart but made himself look dumb.

Yes Dangote was selling at $50 more to local marketers because NNPC will rather give their oil to Indonesia rather than refine it locally. So he had to source oil from the US. If as a business man, I have to ship materials from another country, then customers have to bear some of that cost. That's business 101. And even at that, the oil was still far better and still cheaper than what most marketers sell to Nigerians, because shipping costs is shared rather than one marketer bearing it. Enough of the false narratives!