₦airaland Forum

SpatialKing:
But Dangote still imports crude oil from USA and other countries...

Almost all our crude stolen and sold in the black market

that one no be dangote's fault na... D previous administration don use all of our crude oil borrow money finish

This is great news. However, government should hasten up the renovation works on the refineries. Its worrisome that the giant of Africa has to depend on a private refinery. God forbid, what happens if there's an incident that necessitate the refinery to stop production for a while.

Its even counter productive in the sense that if there is no competition, Dangote easily monopolizes the industry.

obi4eze:
So what happened to that Chairman who Dangote recently reported to EFCC for embezzling funds from his agency. Or has it been swept under the carpet as usual?

He resigned and that was all.

They keep getting just a slap on the wrist tell me why the ones to enter the offices won't aspire to loot more than them

PHIPEX:
This was supposed to be a good news to a country with a good govt but not Nigeria. Several governments of the past spent billions on PR for local goods but when it got to Dangote Refinery they started scaring us about Monoploly.

What stops others from starting their own refinery now or has Dangote blocked the doors?

See how you people talk out of ignorance?

Because you rely on social media for your news?

If you've not seen it on twitter or tiktok it doesn't exist, abi?

Do you know there's a $50 billion refinery set to rival Dangote's being built in Ondo state as we speak?

You have to search in Nigerian newspapers online or use AI, to know the NUMEROUS things happening in Nigeria.

lonelydora:
Whatever it is, we all need to support Dangote Refinery. You may not like him, but he needs the support of goodwill Nigerians.

Those marketers should pool their resources together and build another refinery while we wait for BUA refinery to complete his and Waltersmith to expand their refining capacity.

240 million cannot depend only on Dangote. It leads to monopoly and price manipulation. If we have enough refineries refining petroleum products in Nigeria, we can afford to export them to other countries worldwide. That's a massive FX source for the country

Good will ke! When his cement is cheaper aside the country than the country where is produced.left for me I would suggest we live it to be competitive to checkmate the price

lonelydora:
Whatever it is, we all need to support Dangote Refinery. You may not like him, but he needs the support of goodwill Nigerians.

Of course Yes- because the the economic saboteur, the Importer-in Chief Ahmed Farouk is gone

SmartPolician:
Those marketers should pool their resources together and build another refinery while we wait for BUA refinery to complete his and Waltersmith to expand their refining capacity.

240 million cannot depend only on Dangote. It leads to monopoly and price manipulation. If we have enough refineries refining petroleum products in Nigeria, we can afford to export them to other countries worldwide. That's a massive FX source for the country

Do you know there's a $50 billion refinery set to rival Dangote's being built in Ondo state as we speak?

I just hope the USA won’t bring democracy to Nigeria with this development.

one day and hopefully it would be soon all these back and forth and inconsistency in the oil and gas sector would be the thing of the past.
whether there is still import or not, as long as there is no subsidy payment , no problem.

Good news. Less pressure on forex.

Good one. Let's keep doing good, this country will work one day

Dangote don show them pepper, greedy people. Dangote should use the trucks he imported for deliveries of PMS to filling stations, cut these greedy people off the chain.

This has been the way to go, to reduce our using of dollars, this will ultimately increase naira value.

Predictor3:
Nothing will happen to him besides losing his job. He will keep his stolen wealth and the story like you said has been swept under the carpet.

That's how it is in Nigeria. We mooove

Do you mean how it is in the Nigeria of Buhari and Tinubu's A-looter Propaganda Conmen, APC where they are borrowing more money than PDP presidents who gave us cheap petrol and better life in all aspects

socialmediaman:
The 2018 Rating by Transparency International placed Nigeria at 148th position out of 180 countries. Nigeria was improving over the years under the previous government, until Buhari got elected as president, things became worse.

There is a difference between fact and fiction. We need to face facts, Buhari is worse than GEJ when it comes to fighting corruption, at least that’s what the facts prove.

Most of us believed there was corruption under Goodluck Jonathan’s Government. I agree with those who did, there was corruption, but not as bad as it is today under Mohammadu Buhari.

In 2012, Nigeria was placed at 139th position, In 2014, Nigeria gained 3 steps and was placed at 136th position. Under Buhari, Nigeria has lost many positions down to 148th.

There’s no further proof needed that corruption has worsened under Buhari’s government compared to previous years.

http://saharareporters.com/2018/02/21/transparency-international-ranks-nigeria-148th-worlds-least-corrupt-country

wellmax:
Good news.

Less pressure on forex.

Any idea why all the good news like this have failed to help Tinubu and APC crash the dollar rate since 2015?

$84 billion subsidy removal savings!
Dangote and NNPC refineries fuel exports!
Increased non-oil exports!

anonimi:
World Bank offers Nigeria forex rate advice, as Tinubu eyes N200/Dollar rate

April 23, 2023

The President-elect said he would work with the Central Bank of Nigeria (CBN) to *bring down the exchange rate to N200 in his first term.*

“My administration will collaborate with the Central Bank to harmonize the fiscal and monetary policy to achieve immediate stabilization of the value of the naira against the US dollars and other currencies and in the short term, strengthen the naira by boosting the supply of foreign currency and moderating demand.

“The short-term goal is to achieve a naira/dollar rate of 300 naira/US$ and gradually achieve a less than 200 naira rate over the next four years, Tinubu stated.

https://www.ripplesnigeria.com/world-bank-offers-nigeria-forex-rate-advice-as-tinubu-eyes-n200-dollar-rate/?amp

>>>
>>>

Muhammadu Buhari, presidential candidate of the All Progressives Congress (APC), has promised to ensure that the naira would be equal to the dollar in value if voted into office.

NAN reports that Buhari said this on Monday during the south-east presidential rally of the party at Dan Anyiam Stadium, Owerri.

“It is sad that the value of the naira has dropped to more than N230 to one dollar. This does not speak well for the nation’s economy,” he said.

He urged the people to vote for APC, noting that he would ensure that corruption was tackled headlong if elected.

https://www.thecable.ng/ill-make-naira-equal-dollar-says-buhari/amp

How does this affect the common man.

obi4eze:
So what happened to that Chairman who Dangote recently reported to EFCC for embezzling funds from his agency.

Or has it been swept under the carpet as usual?

If he is loyal to the Ogas at the top of Oshiomole's Assembly of Past Criminals, APC then the matter will remain under the carpet.

That's how they role in their progreThief party.

chisomkachy:
The Economic and Financial Crimes Commission (EFCC) has withdrawn the alleged money laundering suit it filed at the Federal High Court against Lagos Speaker Mudashiru Ajayi Obasa.

Naija News understands that the anti-graft did not give any particular reason for its application for withdrawal.

Following the application to withdraw, Justice Nicholas Oweibo discharged the ‘lien/Post No Debit’ placed on Obasa’s three accounts in Standard Chartered Bank.

The accounts are (US Dollars) 0001852063; (Current) 0001852056 and (Saving) 5002309624.

The judge also set aside the ex-parte orders he made on September 15, 2020, which led to the freezing of the accounts.

Recall that the court on September 15, 2020, granted an interim order freezing Obasa’s accounts following the EFCC’s application in a suit marked FHC/LCS/1064/2020.

The agency had said it was investigating the Speaker for the alleged offences of conspiracy, diversion of funds, abuse of office and money laundering.

But Justice Oweibo, on August 16, 2023, heard the application to unfreeze the accounts in his chamber.

During the hearing, the EFCC was represented by Mr. Sulaiman I. Sulaiman, while Obasa was represented by Mr. Adeyinka Olumide-Fusika (SAN).

The EFCC lawyer told the court that the application to unfreeze the accounts was pursuant to Section 44(2)(K) of the 1999 Constitution (as amended) and Sections 26, 29 and 34 (1) of the EFCC (Establishment) Act, 2004, and under the court’s inherent jurisdiction.

Section 44 of the Constitution concerns constitutional rights to property.

Justice Oweibo held: “It is hereby ordered that an order is hereby granted to the respondent/applicant setting aside the ex-parte orders of this court made on the 15th day of September 2020 upon the ex-parte motion of the Applicant/ Respondent in relation the funds of the Respondent/Applicant domiciled in the accounts stated in the following schedule:

“ACCOUNT NAME, FINANCIAL ACCOUNT INSTITUTIONS, TYPE OF ACCOUNT, 1. Mudasiru Ajayi Obasa, Standard Chartered, (US Dollars) 0001852063 2. Mudasiru Ajayi Obasa, Standard Chartered (Current) 0001852056 3. Mudashiru Ajayi Obasa, Standard Chartered (Saving) 5002309624.

“Issued at Lagos, under the seal of this Honourable Court and by the hands of the Presiding Judge this 16th day of August 2023.”

https://dailytimesng.com/obasa-efcc-withdraws-suit/

Previous Threads:
https://www.nairaland.com/5877642/obasa-64-bank-accounts-linked#89878603

https://wap.nairaland.com/6167844/lagos-assembly-speaker-obasa-efcc#94728150

https://www.nairaland.com/6168612/obasa-court-orders-efcc-freeze#94741534

obi4eze:
So what happened to that Chairman who Dangote recently reported to EFCC for embezzling funds from his agency. Or has it been swept under the carpet as usual?

Dangote don withdraw the case, always stay updated

So Dangote refinery can meet our demands, meanwhile our 4 abi how many refinery could not. And some people say Nigeria is moving forward, ok.

Kemetian:
See how you people talk out of ignorance?

Because you rely on social media for your news?

If you've not seen it on twitter or tiktok it doesn't exist, abi?

Do you know there's a $50 billion refinery set to rival Dangote's being built in Ondo state as we speak?

You have to search in Nigerian newspapers online or use AI, to know the NUMEROUS things happening in Nigeria.

That $50 billion figure does not make any sense it is at best an error and at worst a lie

I am trying to be objective here

It is not a credible figure

anonimi:
Do you mean how it is in the Nigeria of Buhari and Tinubu's A-looter Propaganda Conmen, APC where they are borrowing more money than PDP presidents who gave us cheap petrol and better life in all aspects

It's not about APC or PDP or ADC, it's a Nigerian thing. Nigeria has had over $300bn stolen from its oil revenue over the years according to an Economist of London report as far back as 1999. I don't think APC nor Buhari nor Tinubu was in power then

Katell:
Let’s be honest: that whole “fight” was never about us. It was a competition over who gets to milk Nigerians.

Now that the noise is over and petrol imports have stopped, it simply means they’ve agreed on how to share the milking.

What we should expect now is the real Aliko Dangote — the capitalist, not Father Christmas.

Higher prices are coming.

The era of cheap fuel promises is over.

which ever way, importation is not an option for an economy trying to find its feet

omoredia:
Scammers. All of a sudden dangote is enough to supply.

Dangote had bought some of them over. The records are there with the regulator that his refinery is presently not meeting local demand.
That was the reason Nigeria Upstream and Downstream Petroleum Regulatory Authority issued several import licenses to augment local demand.
He wants to dominate the market and manipulate price. He lobbied Federal government to put 15% import duty on imported fuel which Farouk through NNPC later abolished.
I seriously hope he meant well because the way he fought that man till he was asked to resign is filled with ulterior motives.

ugbarreta:
So Dangote refinery can meet our demands, meanwhile our 4 abi how many refinery could not. And some people say Nigeria is moving forward, ok.

the problem it that the 4 refineries are old and outdated, each government see them as a milking cow to embezzle funds by saying they renovating them

Alhamudulia

lonelydora:
Whatever it is, we all need to support Dangote Refinery. You may not like him, but he needs the support of goodwill Nigerians.

nigerians out of hate will see the right choice but will want to stay but in the wrong. those oil marketers have show us shege banza in this country its better to be at the mercy of dangote than those sabotuers, some said he lobbied which businessman wont even elon musk lobbied for his tesla cars in america. POTUS keep shouting america first i wonder when nigeria will put hate aside and do same for her country

obi4eze:
So what happened to that Chairman who Dangote recently reported to EFCC for embezzling funds from his agency. Or has it been swept under the carpet as usual?

Great question for our friends at Sahara Reporters.

A deal has been struck...

obi4eze:
So what happened to that Chairman who Dangote recently reported to EFCC for embezzling funds from his agency. Or has it been swept under the carpet as usual?

Kobicove:
Monopoly don start be tht!

If you hate monopoly go and build your refinery

Don't let the useless acclaimed world powers know this yet it might make them jealous.

Congratulations to us in Nigeria.

Barakallahu fih Kum.

ogascomax:
Lol Dangote is achieving is goal. But let me promise you guys a day will come that some of you supporting Dangote will insult him again.

If Dangote don't give concessions to Nigerians who made his business what it is today and sell cheap fuel to Nigerians for good of economic stimulation, we will call him out, we are for the good of the people.

Predictor3:
It's not about APC or PDP or ADC, it's a Nigerian thing. Nigeria has had over $300bn stolen from its oil revenue over the years according to an Economist of London report as far back as 1999.

I don't think APC nor Buhari nor Tinubu was in power then

When was the last time you reviewed your comparative adjectives of:

- Good, Better and Best

- Bad, Worse and Worst


In 1999 were things as bad as they are now in 2023 in terms of looting at the local, state and federal levels