₦airaland Forum

Babangidapikin:
Even from the First Paragraph I know your write up is selfish and self serving but I will try to read the remaining... you expect him to build a refinery and not have feedstock ...yet you want the price to be reasonable in Nigeria, have you bothered to check the price in other West Africa countries. Your write-up is beginning to irritate me, you are just envious, when NNPCL refuse to take the stake, is he not surviving, you should be thankful he didn't sue them and ask for billions in damages, do you know how much $100 million can affect a multinational corporation operation let alone Billion, I will try not to use derogatory remarks. Ogbeni waivers are meant to incentify , that a waiver is granted does not necessitate it will be acted upon and I don't remember any Government giving waivers to one single entity in Nigeria, it has never happened, even the exchange rate you talked about, is he the only one that benefited, why then is EFCC writing to other firms

BlueRayDick:
Even tho I don't agree with the author defending the forward sale of crude oil, I believe the author is right on the other points he raised.

Dangote obviously enjoyed enough incentives as regards the waivers of import duty on imported equipment and machinery for the refinery. Also, he got exchange rate pegged at a favorable rate for him while every other importer was importing at the official exchange rate.

Unfortunately, the people who worked with Buhari like Bashir Ahmad that should come out to set the records straight are busy siding with Dangote fighting an imaginary cabal

haybhi1:
Dangote is expressing utter avarice. It will be hard to argue against this. This is really sad for me and every hope I have for this nation—knowing that 220 million of us are living to just feed a few greedy people, leaders and billionaires, makes me really sad. I wonder our offense to God up in heaven, before putting us through this way. It's hard not to doubt the thoughts of selective nature Whoever puts us here. The fate of the average Nigerian, African is ill from fertilization. Life isn't supposed to be lived this way. 15% is greedy and usurping the 85%, why?

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LordAdam.16, I profoundly wonder each of your take to this and the state of the nation, at large. You'll always be a Nigerian and with such level, you and your likes concern is always important.

Mr Ibe.Okehie, isn't thereenough capitalism and opportunity and free market in place for Dangote, yet even he, like everyone else, is seeing these as opportunity to cut off their pie and cake off us the commoners, the Nigerians?

Shadomaan7:
The author of the above article has been bitter since the opening of Dangote refinery. His bitterness is just too glaring.

Bighead9:
You and the writer should go and build your own refinery and leave Dangote alone

Shadomaan7:
The author of the above article has been bitter since the opening of Dangote refinery. His bitterness is just too glaring.

Shadomaan7:
The author of the above article has been bitter since the opening of Dangote refinery. His bitterness is just too glaring.

haybhi1:
Dangote is expressing utter avarice. It will be hard to argue against this. This is really sad for me and every hope I have for this nation—knowing that 220 million of us are living to just feed a few greedy people, leaders and billionaires, makes me really sad. I wonder our offense to God up in heaven, before putting us through this way. It's hard not to doubt the thoughts of selective nature Whoever puts us here. The fate of the average Nigerian, African is ill from fertilization. Life isn't supposed to be lived this way. 15% is greedy and usurping the 85%, why?

---

LordAdam16, I profoundly wonder each of your take to this and the state of the nation, at large. You'll always be a Nigerian and with such level, you and your likes concern is always important.

Mr IbeOkehie, isn't thereenough capitalism and opportunity and free market in place for Dangote, yet even he, like everyone else, is seeing these as opportunity to cut off their pie and cake off us the commoners, the Nigerians?

IbeOkehie:
Nigeria operates a FEUDAL-SOCIALIST system. I know I've mentioned this in my commentary, though I mostly use the simpler term SOCIALIST. That's what you mean when you write:

And you're very correct. Feudal system is where governments award market roles to private participants according to their status in society....according to tribe, religion, class, family or political loyalty. The import licensing systems is an example.

I've thought through these things over a long period of time. I had an interesting encounter with Peter Obi, the Presidential Candidate, at a public forum. I asked him if he would make Nigeria a free market country and his answer was "The Nigerian market is already too free". It's on video because the event was recorded. You have the same mistaken notion as Peter Obi. Most Nigerians have the same wrong perception of their political-economy and that is why the country is a disaster.

The three factors of production in a capitalist economy are land, labour and capital. Peter Obi and any Nigerian university graduate should know that ALL three are completely owned or controlled by government in Nigeria.

LordAdam16:
Give things a quarter to settle.
They're removing subsidy completely.
This was always going to be turbulent.

I was of the opinion that it'll be more gradual.
But it appears they opted for the all-at-once option.

The prices of diesel and gasoline will be in the same bracket.
Petrol should be marginally cheaper. Keyword is should.

Now, some players are attempting to make Dangote the villian.
But marketers are still the wolves. They could opt to adulterate Dangote's gasoline for higher margins.
Or import dirty petrol from outside the shores and sell slightly less than Dangote or at the same price but with higher profit margins.
And no one would stop them. They were importing bad fuel when we paid subsidy.

It is why I opened with "give it time".

-Lord

SirElaw:
Where did he lie. Dangote is a businessman and would seek profit over public good. Not saying that’s a bad thing but it’s important to know that Dangote would never choose a better Nigeria over a bigger bank account. It is the way he has amassed his wealth so far. You can make of that whatever you see fit.

theophorus:
Dangote wen dey use Nigerians play Ping-Pong but Hatred for PBAT has blinded the citizens.

Cement na him dey first increase Price and everything wen hin dey sell but no wahala Sha everyday for the... One day for the...

Omoawoke:
Dangote refinery has been used to scam Nigerians

9jatriot:
You can tell that these kinds of people who do not even run a small sachet water, yet they want to tell me a man who took on a big project like one of the biggest in the world how he is supposed to run it.

Nonsense and ingredients.

Solidex:
I am begining to to be disappointed at Dangote, and my respect for him has actually reduced by half after going through this article. My reasons ;
He is obviously trying to emotionally, and sanctimoniously garner the sympathy of Nigerians, while blackmailing the FG for his own selfish gain. It's all a tactic to compel the FG to supply him crude for his business.

This has become more obvious as Dangote could not significantly give Nigerians a cheaper gasoline, and he has been dilly-dallying with making the prices of his products known to Nigerians.

He is a crook that should be checkmated closely.

Now I can see, why the FG is yet to put a stop to importation of pretroleaum products despite being fully aware of its potential adverse effect on our economy.

IbeOkehie:
<sigh> It's soooo hard explaining these things to Nigerians. It's so difficult.

My friend, my point is that Nigeria is NOT and has NEVER been, a free market. That is WHY the country is poor. I recognize that Dangote and many others like him are beneficiaries of a RIGGED, government dominated market. My argument is that IF the market reforms like SAP in 1986 had been entrenched and completed as Obasanjo and Jonathan were doing, people like Dangote would EVENTUALLY have to compete with everyone else.

I wrote this yesterday or so: https://www.nairaland.com/8232460/why-floated-naira-cardoso/5#132363447



If the crude oil wells of the Niger Delta were owned by PRIVATE citizens, they would NOT give Dangote any subsidies or free crude. Dangote only gets free or cheap crude or MONEY because the government STOLE the crude oil and MONEY from the owners and gave it to him. That's what free market capitalists think is WRONG.

Try and follow the logic. If you're going to contribute to a discussion, cite ACTUAL things that the participants have said or written. It's not hard.

Good Luck to Nigerians.

LordAdam16:
Give things a quarter to settle.
They're removing subsidy completely.
This was always going to be turbulent.

I was of the opinion that it'll be more gradual.
But it appears they opted for the all-at-once option.

The prices of diesel and gasoline will be in the same bracket.
Petrol should be marginally cheaper. Keyword is should.

Now, some players are attempting to make Dangote the villian.
But marketers are still the wolves. They could opt to adulterate Dangote's gasoline for higher margins.
Or import dirty petrol from outside the shores and sell slightly less than Dangote or at the same price but with higher profit margins.
And no one would stop them. They were importing bad fuel when we paid subsidy.

It is why I opened with "give it time".

-Lord

SirElaw:
Where did he lie. Dangote is a businessman and would seek profit over public good. Not saying that’s a bad thing but it’s important to know that Dangote would never choose a better Nigeria over a bigger bank account. It is the way he has amassed his wealth so far. You can make of that whatever you see fit.

IbeOkehie:
Would YOU choose a better Nigeria over a bigger bank account? NOBODY would make such a choice.

Again, the issue is THE SYSTEM.

Government interference in the market is an attempt to FORCE people to give Nigerians STUFF at a discounted rate.

That's what fuel subsidy is about, that is why there's cheap fees at Federal University, that's why government subsidizes forex, that's why the government pays for pilgrimage. The problem is that those ATTEMPTS to make things easier will ALWAYS ENABLE CORRUPTION and other unfair practices. One example of UNFAIR but perfectly legal favoritism is how Dangote got access to SUBSIDIZED FOREX, detailed here:

https://www.reuters.com/article/business/finance/africas-richest-man-got-a-fistful-of-dollars-in-nigerian-currency-squeeze-idUSKCN0Z90ZO/

If Nigeria operated a FREE FLOAT forex market where ALL participants including government traded on an equal footing, he wouldn't be able to get such a sweet forex deal. That's the PROBLEM WITH GOVERNMENT INVOLVEMENT IN ANYTHING, someone always gets favored above others and some people are bitter about it.

Neither you nor myself or anyone else would do different from Dangote. He played by THE LAW. The real problem is that the LAW and the SYSTEM that underpins it are WRONG AND IMMORAL. Nigerian needs a COMPLETELY FREE capitalist free market system.

Good Luck to Nigeria.

SirElaw:
Yes, I would. What’s more? I know many people who would make such a choice in a heartbeat.

Anither563:
This is a very well thought out piece. Thank you for sharing OP.

IbeOkehie:
Easy to say. What is your proof? Nigeria is reputed the most religious nation on earth. My challenge to YOU....right now there are millions of Nigerians in IDP camps, go and take a few of them into your home. That should make Nigeria a little better.

Nigeria should be a paradise by now if even 1% of the population had such ideals. Because there's plenty of opportunities for people to do exactly that, ESPECIALLY when the entire system is based on such expectations. Abeg go and rest.

Good Luck to Nigeria.

The real reason behind the suggestion, according to him. is “to ensure sufficient feedstock availability” for his refinery.