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Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence - Business (2) - Nairaland

Nairaland ForumNairaland GeneralBusinessDangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence (13715 Views)

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Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by Gotocourt: 5:24pm On May 15
Refinedbeing:
His locally refined products seems more expensive than imported ones at the end though
It's not, it's cheaper than European import marketed at TOGO📌💯
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by ajalawole(m): 5:24pm On May 15
Is this man trying to hold a country of 500million people to ransom.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by DomPerignon: 5:25pm On May 15
Justnation:
Dangote is a monopolist and an enemy of the good of the common man in Nigeria.
The man wants to become the richest person in the world through exploiting and impoverishment of Nigerians.
Check out cement, sugar, noodles, petrols etc. once he enters the business he wants to dominate, force government to ban importation and subsequently inflate the prices to high heavens.

The government must not allow dangote to continue to destroy the capacity of the ordinary people in Nigeria.

Give import license to whoever wants to import whatever so that the prices will be cheaper
Every billionaire got to where they are through monopoly.

See Rockefeller, Gates and even Elon Musk.

Musk was able to influence the Trump WH to ban Chinese EVs because they were better and cheaper than his crappy cars
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by zoedew: 5:26pm On May 15
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by Burob: 5:26pm On May 15
honestivo:
This Dangote think Nigeria is his family estate always entitled
A Beggar has no choice, if your government owned refineries were functional, we wouldn’t be having this discussion.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by Burob: 5:32pm On May 15
ajalawole:
Is this man trying to hold a country of 500million people to ransom.
This is why President Buhari lazy youths comment, please why don’t you go & build your own refinery instead of concerning about Dangote?

You are supporting the NNPC, tomorrow you will say president Tinubu is a criminal?
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by SonOfWords(m): 5:35pm On May 15
DomPerignon:
Dangote is also importing crude from the US and Canada and his business model is to replicate the Indian petrochemical refining plants that are cited in India but refine and sell most of the imported Canadian and US crude back to these countries

Refineries across the US and Canada are shutting down over a wave of class action suits by communities were they are sited for heavy pollution leading to permanent and often terminal health conditions

Dangote siting his refinery in the Lekki FTZ was originally to cater exclusively the US and Canadian markets and not domestic market.

Trump's tarrif on imports is probably hurting his export of refined products to the US coupled with FG insisting he must buy crude from the NNPC instead of the US if intends to continue enjoying domestic market share and the benefits of operating in an EPZ.
What manner of nonsensical narrative is this one😵‍💫?!
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by Babangidapikin: 5:35pm On May 15
Justnation:
Dangote is a monopolist and an enemy of the good of the common man in Nigeria.
The man wants to become the richest person in the world through exploiting and impoverishment of Nigerians.
Check out cement, sugar, noodles, petrols etc. once he enters the business he wants to dominate, force government to ban importation and subsequently inflate the prices to high heavens.

The government must not allow dangote to continue to destroy the capacity of the ordinary people in Nigeria.

Give import license to whoever wants to import whatever so that the prices will be cheaper
Would you keep quiet 🤐.. Is he the only player in the industry.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by nairalanda1(m): 5:36pm On May 15
honestivo:
This Dangote think Nigeria is his family estate always entitled
Oxb90:
Mr monopoly is not happy at all.
Mr Dangote, no be only you waka come. Let Nigerians breathe abeg.
After all no be your money dem go use import am. If you no dey greedy how the importers go take sell imported fuel cheaper than the locally manufactured ones.
sammirano:
This dangote is a wicked thief, disgusting greedy mofo.
Well, if most of the other licence holders had built their refineries, by now there would have been more refineries to compete with

You should be asking why other refineriy licence holders, apart from BUA, (under construction ) and the one in Edo state (complete and working) as well as two or three others (also working)....did nothing all these years.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by DomPerignon: 5:36pm On May 15
SonOfWords:
What manner of nonsensical narrative is this one😵‍💫?!
It's beyond your pay grade.

Move along
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by DomPerignon: 5:38pm On May 15
nairalanda1:
Well, if most of the other licence holders had built their refineries, by now there would have been more refineries to compete with

You should be asking why other refineriy licence holders, apart from BUA, (under construction ) and the one in Edo state (complete and working) as well as two or three others (also working)....did nothing all these years.
Because no one would have invested in them without the now passed PIB.

Also subsidy was removed just 3ys ago and you expect refineries that take on average 5 to ten years to complete being fully operational by now?

How long did it take Dangote to complete his refinery
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by deji17: 5:38pm On May 15
Currently, there are many modular refinery in operations and by the grace of God big refineries like BUA and other refineries will come to operation very soon, so that the cry of monopoly will die a natural death. And with Dangote being able to export its fuel products, it shows that his price is competitive in the global market.
Arm chair critics who have never produced something as simple as cutting a bamboo tree in their lives should keep quiet.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by IsraeliAIRFORCE: 5:38pm On May 15
BlocksNG:
Federal government cannot build or maintain 12th century refinery, dangote single handedly built it, shame on Nigerians supporting failure.
He didn't, Emefiele did with the blood of all Nigerians.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by deji17: 5:39pm On May 15
DomPerignon:
Because no one would have invested in them without the now passed PIB.

Also subsidy was removed just 3ys ago and you expect refineries that take on average 5 to ten years to complete being fully operational by now?

How long did it take Dangote to complete his refinery
You dey mind arm chair critics? They cannot produce anything in their lives, yet want everything delivered to them f.o.c.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by nairalanda1(m): 5:42pm On May 15
flokii:
Critical thinkers can see those behind the sabotage of our State-owned refineries for their selfish gain.. this Dangote man can't try the shi.t he is doing in Nigeria in a country like China where the institutions of Government there are up and doing.
Saboteurs disguising themselves as saviours to milk Nigerians dry.
NIgerians, ordinary and elite, sabotaged the refineries via subsidy.

I don't work for government, and what I am going to tell you is from over ten years of reading and reasoning things...since 2011.

You guys were told countless times since the late 1980's that you cannot sell refinery products at subsidised prices, and expect the refineries to flourish, and also expect that people would not exploit the subsidy system to massively steal revenue. That was why many reasonable people over the decades told you that subsidy had to go, and every time you guys invoked oppressor and oppressor, and so forth.

Meanwhile the NNPC refineries were begining to deteriorate since 1994, because they were not making enough profit for upgrade and repair. No TAM from 1994-2010 as a result. Anytime there was partial removal of subsidy, government directed it to government spending . And anytime subsidy costs rose over the decades, government took money to fund the subsidy payments from other sectors of the budget. Add corruption, and lack of diversification, and that is how you lost your refineries.

All because una want cheap fuel

Ghana has had two working refinereis for decades. Ghana is not as rich as us. Niger has had working refinery fornearly 2 decades, none of them did subsidy (and Niger is poorer than we are self...you have guys from Niger working in NIgeria as maiguard for pennies, and yet sending their salary home where it was recieved as if na hard currency...lol). And both of them did no subsidy.


If you like call me tinubu supporter. Me that was opposing tinubu in 2011 when he was calling for subsidy retention, is now tinubu supporter.

Make we face reality and stop looking for imaginary enemies. Nigerians are their own enemies.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by nairalanda1(m): 5:44pm On May 15
Burob:
A Beggar has no choice, if your government owned refineries were functional, we wouldn’t be having this discussion.
If you Nigerians had supported subsidy removal in 2012 or earlier, we would not be having this discussion either, but oil prices would still be sky high

America has a glut of refineries, but they still have high oil prices.

You guys should realize that people like to make money, even ordinary worker.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by SOLTEM: 5:45pm On May 15
muykem:
Dangote should use price to cripple importers rather than court.
This is the best way to go. Dangote wants to monopoly the market so that he can inflate the already inflated petrol price.

Dangote, if you want massive patronage, reduce your price.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by nairalanda1(m): 5:45pm On May 15
Olatundex22:
they already doing that na today you know your country man especially when things mixed with politics, government of today
Crude oil sell to him in naira, market buy dollars with naira to import fuels from faraway and their products cheaper no be juju be that.
Let him bring the price down and see market forces importing died naturally dead in no time. But here we found ourselves where emotions work than reality
Selling crude in naira will not bring down prices. It's a fallacy to believe that.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by potent5(m): 5:45pm On May 15
Dangote wants monopoly through the backdoor. Simple
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by nairalanda1(m): 5:47pm On May 15
flokii:
You lie.. a large chunk of Nigerian tax payers money was diverted to that refinery, not to talk of the FX racketeering and other shady deals they used CBN for. You stole from Nigerians, yet still want to continue stealing from them.
Funding for Dangote refinery intially came from local and international banks, plus the African development bank (up to 6 billion dollars), plus he put up 3 billion dollars of his own money. CBN gave loans of about 2.7 billion dollars, most of which has been repaid. The rest of the money was private money. In the end Dangote refinery cost 18.5 billion dollars. Most of that money came from private financial lenders.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by SOLTEM: 5:48pm On May 15
potent5:
Dangote wants monopoly through the backdoor. Simple
Consumers has never benefitted from monopoly.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by Burob: 5:49pm On May 15
nairalanda1:
If you Nigerians had supported subsidy removal in 2012 or earlier , we would not be having this discussion either, but oil prices would still be sky high

America has a glut of refineries, but they still have high oil prices.

You guys should realize that people like to make money, even ordinary worker.
That is the reason I will forever detest Goodluck Jonathan, for reversing the subsidy removal.

I knew he was a chicken then, so I wasn’t surprised when he was kicked out of Aso Rock.

Price of gasoline in Columbus Ohio, is different in Gary, Indiana, let alone San Francisco, CA.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by SonOfWords(m): 5:53pm On May 15
DomPerignon:
It's beyond your pay grade.

Move along
Look at how you people support nonsense in the name of tribal and party politics.

So it's okay for your country, a major oil producing country at that, to be importing petrol for her local consumption?

Even in the midst of the blatant government corruption that has succeeded in crippling national refineries for decades now, you still sit down and spread nonsensical conspiracy theories about the only working refinery in this hemisphere of the African continent?

Una no dey reason😐💀??
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by DomPerignon: 5:54pm On May 15
SonOfWords:
Look at how you people support nonsense in the name of tribal and party politics.

So it's okay for your country, a major oil producing country at that, to be importing petrol for her local consumption?

Even in the midst of the blatant government corruption that has succeeded in crippling national refineries for decades now, you still sit down and spread nonsensical conspiracy theories about the only working refinery in this hemisphere of the African continent?

Una no dey reason😐💀??
Where did you see me support importation of fuel ?
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by BlakKluKluxKlan(m): 6:00pm On May 15
There goes the monopolist at his game.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by nairalanda1(m): 6:02pm On May 15
potent5:
Dangote wants monopoly through the backdoor. Simple
Tor, in 1992, 2004, 2011, 2012, and even in 2016, you Nigerians were told that subsidy must go, subsidy must go, so that investors would come in and build more refineries after attracting finances in form of loans and so forth to start work...from banks and lenders.

But you guys kept on saying no, no, no.

Dangote was able to build his own refineriy because the banks...I repeat the banks...were willing to lend money to him. Nigerian banks, international banks, even African development bank that gave him 3 billion dollars in loans.....infact most of the money Dangote used came from private banks and lenders, not from the government (CBN only gave him 2.8 billion dollars, which he has paid back since)...and the banks were ready to lend to him because if subsidy retention beyond 2022 had caused the refinery to fail...AMCON would go and take over Dangote's other businesses and raise money to pay them their loans.

Others did not have that kind of collateral.

You Nigerians, when we tell you that there is a good reason for some decisions and that not everything is oppresson, oppresion, you go call us tinubu or government supporter, and tell us to keep quayet. Well, enjoy the results of supporting bad decsions. At least tinubu is paying for supporting subsidy retention in 2012, he now has to take unpopular decisions that may affect his reelection...instead of enjoying the benefit of supporting subsidy removal back then.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by koning: 6:11pm On May 15
Sell between N800 and 1,000 and the importers will "import" from you.

It's as simple as that.

The problem for we, ordinary Nigerians, is not supply, but PRICE. There's enough fuel. But the price is killing the nation.

If Dangote does not want to reduce price significantly, then FGN should issue 100s of import licenses.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by fineboynl(m): 6:16pm On May 15
Senseless lawsuit. Another business man fighting against another business man.

So one man can wake up and force others to close shop because they build a company. Like others didn't have the right to do business?

Stopping others is illegal and shouldn't be entertained
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by LordIsaac(m): 6:20pm On May 15
flokii:
AGF should invoke the Free Trade Zone laws and shut Dangote refinery out of the Nigerian market for good.. he should go and sell his petrol in Ghana, Benin Republic, Cameroon, etc.

As far as the law is concerned, Dangote refinery is not existing within Nigeria's Customs Territory and has no right to sell products in the Nigerian markets.
This man thinks he can bully everyone into having monopoly.
Or nationalize it.
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by walozanga(m): 6:24pm On May 15
Freshtruth:
Dangonte influence the fuel subsidy remover decision with the remover he will make his money he use in building the refinery in less than 2years. This man does not care about the sufferings of Nigerians he only care about how he can break into top 10 richest lists
Who is feeding you those lies, so na Dangote influence your dull president now abi, and the same administration refused to authorise those involved to supply him enough crude.
You really need to have your brain examined
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by simpleseyi: 6:33pm On May 15
Greed will kee Dangote just as it’s killing Desmond now
Re: Dangote Refinery Sues Nigeria's AGF Over Issuance Of Fuel Import Licence by MotiveU(f): 6:33pm On May 15
Monopolistic human being...
Is not a free market...
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