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Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry - Politics (4) - Nairaland

Nairaland ForumNairaland GeneralPoliticsCourt Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry (20812 Views)

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Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by integrity16(m): 10:02pm On Nov 07, 2024
Blackdisciple:
Dangote thinks only him can serve Nigerians so that he will do what he is doing with his cement, go and see what is like in the same area his cement plant is located in kogi state....
In this part of the world we use too much of fuel due to unstable power supply and on vehicles what makes him think that only him can serve Nigerians... Baba do forget say we are more than what we were in 2000.

Thank God for Bus, larfarge and etc...
It is not his fault that he is the only one operating a refinery, let the government allocate crude oil to other modular refineries to start operations and compete with dangote.

Also tell the government to get our 4 refineries working, so as to also compete with dangote.

That you people are supporting the government and criticizing dangote is enough reason why this country will never be good.

Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by 3kay945(m): 10:02pm On Nov 07, 2024
Most Nigerians are not intelligent nor smart. We are just bunch of cowards.

We are best in speaking and writing big grammar of foreign language. cool

Imagine the nonsense and pains both the evil House called government and one private business man causing more than 120millions people.

What kind of humans are wehuh
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by integrity16(m): 10:08pm On Nov 07, 2024
1nigeriamyfoot:
LET HIM CARRY HIS USELESS PETROL TO WHEREVER HE WANT

YOU CANT FORCE YOUR PRODUCT ON ME AT HIGH RATE WHEN I CAN GET IT CHEAPER ELSEWHERE

NIGERIANS WILL USE THEIR HARD EARNED MONEY TO BUY PETROL BOT MONEY GOTTEN FROM DANGOTE

DANGOTE PETROL CAN GO TO HELL FOR ALL I CARE
You still don't get the memo, who told you marketers will sell lower when they eventually import petrol from outside Nigeria?

You think they will sell lower than the current price of N1200, N1300?

History has shown that whatever goes up in Nigeria does not come down marketers will look for cheap and substandard petrol and sell at current market price thereby making more profit. Be playing, you think it's by typing in CAPS.

Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by WorkTheTalk(m): 10:19pm On Nov 07, 2024
nesphil:
So why is INNOSON and other local automobile manufacturers don't go to court to sue importers of foreign automobiles into the country.
Don’t be silly. INNOSON and Co can't meet the car demons in Nigeria. There hundreds of car brands in Nigeria, INNOSON can't forced everyone to buy and drive INNOSON
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by WorkTheTalk(m): 10:19pm On Nov 07, 2024
K
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by Balistic4: 10:22pm On Nov 07, 2024
chidiokay:
Dangote is one of the highest employer of labour in the private sector

Dangote export and contribute immensely to our GNP

Dangote own the largest number of trucks driven by commoners

Dangote construct one of the best roads in Nigeria as SR

Dangote refinery can employ over 500 common man, what is the biggest benefit to a common man if not empowerment

Some of you just argue like school absentees, even if you wan stop dangote monopoly no be local refinery we suppose use ...
why are they making importation the only option and not local refineries ... they know Nigerians are gullible, by discretion one can tell the cabals grounding our refineries
Awesome! Then let's handover Nigeria to him. We owe him everything we are today. Had Dangote not emerged, Nigeria would have finished. Without Dangote cement, cement would be sold for 100k per bag. With Dangote refinery, fuel will be sold for #100 per liter. Jobs are overflowing everywhere.

Also mind you, Nigeria had nothing before Dangote came aboard. Even the refinery, dangote got the funding from his pocket, Nigeria never played a role in it
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by frog12: 10:25pm On Nov 07, 2024
when we tell people to allow regulators to do their job, dem they shout dangote this, dangote that.

monopoly loading. nigerians are always their worst enemies. instead of being patient, they wan rush everything grin grin grin
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by meobizy(m): 10:27pm On Nov 07, 2024
His antecedents show him doing it in any industry he breaks into. Why should the petroleum industry be any different? Dangote, Kemi Badenoch and our many former presidents, I no know who hate Nigeria pass.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by ntyce(m): 10:27pm On Nov 07, 2024
WorkTheTalk:
Nigeria is a conglomerate of illiterates, courtesy of the thiefing political class. When the corrupt politicians pretend to be on the side of the masses to keep looting the treasury, you hear them accusing people like Dangote of monopoly in the oil sector, whereas for over 30 years, they kept stealing the money meant for fixing the refineries to produce the fuel locally. They use the same stolen money to import fuel, and collect subsidy benefits.

When did Dangote stop NNPC from fixing the refinaries, or approving private companies to build new refinaries to produce fuel locally for a fair market competition? Dangote knows is right as a local producer, and he has approached the court. Whoever believes that Dangote is aiming at the so-called monopoly in the oil sector should approach the cout too.

How can someone produce goods locally, and you import same product to sell in the same market, and call that competition?
Don’t be fooled by all the noise from NNPC and all its affiliates. They want to turn Nigerians against Dangote so they can keep importing fuel, and steal from the treasury in the name of subsidy.

If the oil giants are afraid of oil sector monopoly by Dangote, let them build refineries, and produce fuel locally. They have crude oil locally to produce fuel.

Every sane person knows that the best economy is when there is local production, rather than importation. Even the thiefing politicians know this, but they will try all means to control Dangote, or blackmail him to support their reason for continuous fuel importation.
You're a dunce, a big one...

How did Dangote start his Rice, Wheat, sugar, Pasta and cement businesses?
He was a major importer of these items before going into their production.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by 1nigeriamyfoot: 10:27pm On Nov 07, 2024
integrity16:
You still don't get the memo, who told you marketers will sell lower when they eventually import petrol from outside Nigeria?

You think they will sell lower than the current price of N1200, N1300?

History has shown that whatever goes up in Nigeria does not come down marketers will look for cheap and substandard petrol and sell at current market price thereby making more profit. Be playing, you think it's by typing in CAPS.

Let them sell at 1200, we go buy where we see cheaper one

Let NNPC continue buying from dangote and Nigerians buys lesser wherever they find it

It's simple
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by WorkTheTalk(m): 10:30pm On Nov 07, 2024
nesphil:
Talking trash as always.

Nigerians couldn't buy Dangote cement, so they won't be able to buy his refined petroleum products either.

So why is INNOSON and other local automobile manufacturers don't go to court to sue importers of foreign automobiles into the country.

If imported refined petroleum products are now cheaper than the ones that Dangote produces locally, then importers should go ahead and import.

This exploitations for financial gains must stop.
nesphil:
So why is INNOSON and other local automobile manufacturers don't go to court to sue importers of foreign automobiles into the country.
Don’t be silly. INNOSON and Co can't meet the car demans in Nigeria. There are hundreds of car brands in Nigeria, INNOSON can't forced everyone to buy and drive INNOSON brand only. Besides there is no law that says production of vehicles is only locally

Whereas the Petroleum Industry Bill (PIB) is a law in Nigeria that was passed by the National Assembly in July 2021 and signed into law by the President outlines operations in the oil sector. If Dangote cannot produce enough fuel to meet the demand, it's understood. But if he does, stop blindly and foolishly supporting NNPC to continue fuel importation to kill the economy.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by Ikinternational: 10:44pm On Nov 07, 2024
All those military heads. Check their accounts

The looting that has been going on with military budget is legendary.

Nobody in Nigeria is ready for that conversation
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by NothingDoMe: 10:46pm On Nov 07, 2024
WorkTheTalk:
Nigeria is a conglomerate of illiterates, courtesy of the thiefing political class. When the corrupt politicians pretend to be on the side of the masses to keep looting the treasury, you hear them accusing people like Dangote of monopoly in the oil sector, whereas for over 30 years, they kept stealing the money meant for fixing the refineries to produce the fuel locally. They use the same stolen money to import fuel, and collect subsidy benefits.

When did Dangote stop NNPC from fixing the refinaries, or approving private companies to build new refinaries to produce fuel locally for a fair market competition? Dangote knows is right as a local producer, and he has approached the court. Whoever believes that Dangote is aiming at the so-called monopoly in the oil sector should approach the cout too.

How can someone produce goods locally, and you import same product to sell in the same market, and call that competition?
Don’t be fooled by all the noise from NNPC and all its affiliates. They want to turn Nigerians against Dangote so they can keep importing fuel, and steal from the treasury in the name of subsidy.

If the oil giants are afraid of oil sector monopoly by Dangote, let them build refineries, and produce fuel locally. They have crude oil locally to produce fuel.

Every sane person knows that the best economy is when there is local production, rather than importation. Even the thiefing politicians know this, but they will try all means to control Dangote, or blackmail him to support their reason for continuous fuel importation.
Not a very smart comment.

Dangote seeks to revoke importation licenses of major marketers while retaining his own import license. This means that if he has a shortfall, he can import while preventing other major marketers from filling the void.

If that isn't a monopoly, I don't know what else is.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by chidiokay: 10:50pm On Nov 07, 2024
1nigeriamyfoot:
Cheap substandard that same dangote don dey use for years to power his vehicle? Tell me another story

It's insane that locally produce product is higher than imported one

Mind you, dangote petrol is low grade compared to USA petrol. Do you even know that petrol in USA get grade with different prices and dangote petrol quality no even come close to the lowest grade of petrol in USA when it comes to quality?

Dangote cab go to hell with his useless petrol
i dont know why an average Nigerian cant think, cant you see what excessive importation and demand for dollar is doing to our economy

In as much as we continue import fuel our national refineries will never work and naira will keep crashing cos of imbalance of trade

The true cheap in real sense is when Naira regains value and local refineries stand as competition around dangote ....
All these marketers are selfish bastards that have being Nigerians for year collecting free subsidy money , at a time they imported bad fuel that damaged peoples car and no one took responsibility.
Dangote like profit, are marketers not in business to maximize profit, is it not better we buy dangote fuel expensive now and naira regains value cos we save ourselves from importation.

Our true chance to cheap fuel is through our local refineries,
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by jaxxy(m): 11:01pm On Nov 07, 2024
Dangote should better stop this entitlement mentality and monopolistic tendencies.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by udemzyudex(m): 11:05pm On Nov 07, 2024
If he attempt then it's because this country is not working.
How can a country with 4 refineries be importing fuel, why won't he attempt to do that, i would have done same.

Imagine trying to blame a business man for trying to make money instead of you to fix your own refineries and compete.


Rubbish report.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by udemzyudex(m): 11:06pm On Nov 07, 2024
2Ways:
Dangote is wicked.
Imagine trying to blame a man who want to do business and make profits when you have 4 refineries that are not working, the PH refinery have refuse to work despite all the money.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by udemzyudex(m): 11:07pm On Nov 07, 2024
rejoice4eva:
If Dangote truly loves Nigeria as he tries to claim, why not selling at a lower price and see who will buy imported petrol.
I am sure if this man is from other part of Nigeria, all his monopolistic tendencies would have ended a long time.
If NNPCL truly love Nigeria, why not fix at least 2 of the 4 refineries we have in this country?

Must we import fuel?
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by bixton(m): 11:07pm On Nov 07, 2024
WorkTheTalk:
Nigeria is a conglomerate of illiterates, courtesy of the thiefing political class. When the corrupt politicians pretend to be on the side of the masses to keep looting the treasury, you hear them accusing people like Dangote of monopoly in the oil sector, whereas for over 30 years, they kept stealing the money meant for fixing the refineries to produce the fuel locally. They use the same stolen money to import fuel, and collect subsidy benefits.

When did Dangote stop NNPC from fixing the refinaries, or approving private companies to build new refinaries to produce fuel locally for a fair market competition? Dangote knows is right as a local producer, and he has approached the court. Whoever believes that Dangote is aiming at the so-called monopoly in the oil sector should approach the cout too.

How can someone produce goods locally, and you import same product to sell in the same market, and call that competition?
Don’t be fooled by all the noise from NNPC and all its affiliates. They want to turn Nigerians against Dangote so they can keep importing fuel, and steal from the treasury in the name of subsidy.

If the oil giants are afraid of oil sector monopoly by Dangote, let them build refineries, and produce fuel locally. They have crude oil locally to produce fuel.

Every sane person knows that the best economy is when there is local production, rather than importation. Even the thiefing politicians know this, but they will try all means to control Dangote, or blackmail him to support their reason for continuous fuel importation.
Do you eat foreign rice?
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by bixton(m): 11:14pm On Nov 07, 2024
WorkTheTalk:
Nigeria is a conglomerate of illiterates, courtesy of the thiefing political class. When the corrupt politicians pretend to be on the side of the masses to keep looting the treasury, you hear them accusing people like Dangote of monopoly in the oil sector, whereas for over 30 years, they kept stealing the money meant for fixing the refineries to produce the fuel locally. They use the same stolen money to import fuel, and collect subsidy benefits.

When did Dangote stop NNPC from fixing the refinaries, or approving private companies to build new refinaries to produce fuel locally for a fair market competition? Dangote knows is right as a local producer, and he has approached the court. Whoever believes that Dangote is aiming at the so-called monopoly in the oil sector should approach the cout too.

How can someone produce goods locally, and you import same product to sell in the same market, and call that competition?
Don’t be fooled by all the noise from NNPC and all its affiliates. They want to turn Nigerians against Dangote so they can keep importing fuel, and steal from the treasury in the name of subsidy.

If the oil giants are afraid of oil sector monopoly by Dangote, let them build refineries, and produce fuel locally. They have crude oil locally to produce fuel.

Every sane person knows that the best economy is when there is local production, rather than importation. Even the thiefing politicians know this, but they will try all means to control Dangote, or blackmail him to support their reason for continuous fuel importation.
If local production is good enough for Dangote and if he truly encourages it sincerely why has he not encouraged the FG to ensure those who are engaged in the cooking of crude oil into it's derivates be brought into the business legally rather than destroying it?

After all for over the years most of the PMS and AGO used by all, comes from those are involved in oil bunkering from the creeks to the Sahel.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by wirinet(m): 11:17pm On Nov 07, 2024
1nigeriamyfoot:
Stop buying rickety vehicles

GiG is a very big logistic company and even owns aircraft party from fleet of vehicles for logistics, theyt vehicles travels more often than your vehicles still they don't change engine every 2 years

I am a car owner for more than 10ys and I have used different vehicles for my pleasure & business

I own vehicles with registered transport companies and I have never changed any vehicle engine in 2yrs all my life (although I joined transport biz just 5yrs & some months ago)

Stop coming here to dish out lies

I have friends who owns a logistics company and they don't change their vehicle engine every 2yrs

Buy a good vehicle preferably grade A foreign used otherwise known as tokunbo
Who told you I was buying rickety vehicles. The irony is that the only "rickety" vehicle I bought which was actually the first vehicle I bought for the business is the strongest and most reliable. It was a 2006 Mitsubishi L200 I got at scrap price. Spent less than N300k on it and it has been working for 5 years. I have only changed the engine once. The remaining more recent models are not as strong.

Now, how long you car engine last depends on a number of factors, like usage, maintenance and regular oil change. My vehicles work every day for for 8 to 10 hours modays to Fridays, sometimes Saturdays and public holidays. Incidentally they go to Awoyaya (dangote refinery) and Epe from V/I everyday. Most people in that particular line of business change engines or at least change rings every two to three years.

Many multinational and big companies sell of their vehicles every 5 - 7 years and replace them brand new ones to avoid maintenance wahala.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by VULCAN(m): 11:38pm On Nov 07, 2024
You have written very well.

Your assertions about Nigerian politicians and NNPC hit the nail on the head.

But nothing you have said can change the fact that Dangote has almost ONLY thrived in a monopoly in the past.

That of itself doesn't sound terrible but it's worrisome that Dangote has NEVER been a low price merchant.

On the contrary, he is a price gouger.

He maximises his profits at the expense of the masses by selling his products at the most expensive he can.

Dangote will love to sell his fuel at N2500 a litre.

As a monopolist, he will do so without a second thought.

WorkTheTalk:
Nigeria is a conglomerate of illiterates, courtesy of the thiefing political class. When the corrupt politicians pretend to be on the side of the masses to keep looting the treasury, you hear them accusing people like Dangote of monopoly in the oil sector, whereas for over 30 years, they kept stealing the money meant for fixing the refineries to produce the fuel locally. They use the same stolen money to import fuel, and collect subsidy benefits.

When did Dangote stop NNPC from fixing the refinaries, or approving private companies to build new refinaries to produce fuel locally for a fair market competition? Dangote knows is right as a local producer, and he has approached the court. Whoever believes that Dangote is aiming at the so-called monopoly in the oil sector should approach the cout too.

How can someone produce goods locally, and you import same product to sell in the same market, and call that competition?
Don’t be fooled by all the noise from NNPC and all its affiliates. They want to turn Nigerians against Dangote so they can keep importing fuel, and steal from the treasury in the name of subsidy.

If the oil giants are afraid of oil sector monopoly by Dangote, let them build refineries, and produce fuel locally. They have crude oil locally to produce fuel.

Every sane person knows that the best economy is when there is local production, rather than importation. Even the thiefing politicians know this, but they will try all means to control Dangote, or blackmail him to support their reason for continuous fuel importation.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by Nobody: 11:39pm On Nov 07, 2024
udemzyudex:
If he attempt then it's because this country is not working.
How can a country with 4 refineries be importing fuel, why won't he attempt to do that, i would have done same.

Imagine trying to blame a business man for trying to make money instead of you to fix your own refineries and compete.


Rubbish report.
You are blunt!

I duff my hat!
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by bixton(m): 11:50pm On Nov 07, 2024
chidiokay:
i dont know why an average Nigerian cant think, cant you see what excessive importation and demand for dollar is doing to our economy

In as much as we continue import fuel our national refineries will never work and naira will keep crashing cos of imbalance of trade

The true cheap in real sense is when Naira regains value and local refineries stand as competition around dangote ....
All these marketers are selfish bastards that have being Nigerians for year collecting free subsidy money , at a time they imported bad fuel that damaged peoples car and no one took responsibility.
Dangote like profit, are marketers not in business to maximize profit, is it not better we buy dangote fuel expensive now and naira regains value cos we save ourselves from importation.

Our true chance to cheap fuel is through our local refineries,
Are you sure you're not part of the average Nigerian who usually don't think and only dish out myopic perspectives of a whole broad subject.....
Do you really think just fixing the refineries and all that you put up here will give anything worthwhile to the value of your naira?
Whereas a greater more percentage of our livelihood and sustainability as a people are completely dependent on imported things because we are at the bottom of the food chain of stark consumers.
How many sovereign nations whose currency are of real worth and value are stark consumers on all round imported items?
Without proper industrialization forget about the value of the naira. Na life support the naira
dey on in terms of real working economy.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by Bigii(m): 12:04am On Nov 08, 2024
2Ways:
Dangote is wicked.
Very wicked man who is only interested in seeing his name the news papa as the riches man in Africa every year. He has nothing to contribute to humanity. He's never a giver.

I'm not one of Tinubu's supporter, but wish Tiny u can deal with him mercilessly.
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by Kennitrust(m): 1:19am On Nov 08, 2024
WorkTheTalk:
Nigeria is a conglomerate of illiterates, courtesy of the thiefing political class. When the corrupt politicians pretend to be on the side of the masses to keep looting the treasury, you hear them accusing people like Dangote of monopoly in the oil sector, whereas for over 30 years, they kept stealing the money meant for fixing the refineries to produce the fuel locally. They use the same stolen money to import fuel, and collect subsidy benefits.

When did Dangote stop NNPC from fixing the refinaries, or approving private companies to build new refinaries to produce fuel locally for a fair market competition? Dangote knows is right as a local producer, and he has approached the court. Whoever believes that Dangote is aiming at the so-called monopoly in the oil sector should approach the cout too.

How can someone produce goods locally, and you import same product to sell in the same market, and call that competition?
Don’t be fooled by all the noise from NNPC and all its affiliates. They want to turn Nigerians against Dangote so they can keep importing fuel, and steal from the treasury in the name of subsidy.

If the oil giants are afraid of oil sector monopoly by Dangote, let them build refineries, and produce fuel locally. They have crude oil locally to produce fuel.

Every sane person knows that the best economy is when there is local production, rather than importation. Even the thiefing politicians know this, but they will try all means to control Dangote, or blackmail him to support their reason for continuous fuel importation.
you have not told us how Dangote monopoly on cement products that had local crude, has helped Nigeria.

Innocent is producing clean cars and no one is fighting for it to be the sole supplier of vehicles in the country.


What has Dangote done to alleviate the pain of Nigerian?
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by Kennitrust(m): 1:20am On Nov 08, 2024
teejoyz:
FG should issue licenses to individuals and corporate organizations to be importing cement also. One person cannot be controlling the economy.
I second this
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by sulaak(m): 2:55am On Nov 08, 2024
trutharena:
Monopoly is bad for any economy.
Import is worst
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by sulaak(m): 3:03am On Nov 08, 2024
Kennitrust:
you have not told us how Dangote monopoly on cement products that had local crude, has helped Nigeria.

Innocent is producing clean cars and no one is fighting for it to be the sole supplier of vehicles in the country.


What has Dangote done to alleviate the pain of Nigerian?
Here's some information about Nigeria's cement industry:
Major players
The three largest cement producers in Nigeria are Dangote Cement, BUA Cement, and Lafarge Nigeria:
Dangote Cement: The largest cement producer in Nigeria and sub-Saharan Africa, with 60% of the domestic market share
BUA Cement: Second largest, with 20.4% of the domestic market share
Lafarge Nigeria: Part of the Holcim Group, with 19.5% of the domestic market share
New player New $1.5bn Mangal cement plant launches in Kogi
With a production capacity of 200 trucks of cement daily, the facility is expected to create 10,000 direct jobs and numerous indirect employment opportunities
Re: Court Documents Show Dangote’s Attempt To ‘monopolize’ Petroleum Industry by davidif:
ufotunang:
.. Importation depreciates and devalues the naira...if we want to appreciate the naira and make it have value against the dollars..the Importation of fuel should stop...and we can produce this fuel locally...they are some private modular refineries owners in Nigeria that told federal government that they are ready to refine and produce fuel that the federal government and NNPC should supply them crude oil but till now federal government has not done that ..so with this if crude oil is supplyed to them it will create competition with Dangote refinery bring the price down and also appreciate the naira and make it have value against the dollars
Oil-Exporting Countries Still Import Fuel

Documents presented to the court also show that many oil-producing nations with far larger production and refining capacities than Dangote continue to import petroleum.

The United States, for instance, imported 8.51 million barrels per day (b/d) of refined petroleum products from 86 countries in 2023, according to the U.S. Energy Information Administration.

Another example is Saudi Arabia, which, despite being one of the world’s largest oil producers with a total daily refining capacity of 2.9 million b/d, also imports and stores refined petroleum products to ensure energy security.

“Saudi Arabia, with five refineries and a refining capacity of 2.9 million b/d, still imports and stores refined products as part of its energy security strategy,” Abiodun pointed out.

Similarly, other major oil-producing countries—including the UAE, Bahrain, Qatar, and Oman—also import and store petroleum products for energy security.

Abiodun concluded by arguing that allowing Dangote Refinery to be the sole supplier of refined petroleum products in Nigeria would make it a monopolist in the petroleum sector, a critical industry for Nigeria’s economy and energy security.


“No country in the world has developed or will ever develop by encouraging monopoly in any of its key economic sectors,” he emphasized.

https://politicsnigeria.com/exclusive-court-documents-expose-dangotes-attempt-to-monopolize-petroleum-industry/
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