₦airaland Forum

Refinery built with Nigeria's money

Corrupt NNPC, NDPR, etc would have made the Dangote Refinery a national pride.

esnbrutality:
Heard Europe rejected his diesel because of high Sulphur content that gradually destroys engines.

You're not very correct with this post. Thank you

esnbrutality:
Heard Europe rejected his diesel because of high Sulphur content that gradually destroys engines.

Heard? Ur heard from a useless source that lacks credibility

Nicoddemus:
As long as he doesn't monopolize the oil sector. He should allow room for competition. He's an asset to the nation

Did he hold or stop anyone from competing? If e sure for you, put body

PigTormentor:
Dangote refinery that's not really working yet or will never work. Na scam according to some not too long ago.

Which people? Be courageous and mention them.

esnbrutality:
Heard Europe rejected his diesel because of high Sulphur content that gradually destroys engines.

And when Iran blockaded the strait , Europe imported the same Diesel ceaselessly and with all the rush you can imagine.

Don't be a sucker for western propaganda.

STOP THE LIES
THE TOTAL CAPITALISATION OF ALL COMPANIES IN THE NIGERIAN STOCK EXCHANGE WAS
11 TRILLION 3YEARS AGO

TODAY IT IS 160TRILLION
WHICH PROVES MANY MANY COMPANIES ARE ACTUALLY DOING GREAT

Basicend:
Dangote, Zentih Bank, MTN NG are the 3 companies cashing out biggerly in the current economy.

Good. Can he now let others be?

Eriokanmi:
Congratulations Dangote. You fought them hard, those EOP in power. God bless Nigeria

Fought who hard? They will act movies for you to feel excited,and they go drinking expensive wine together afterwards. You and your likes will now start fighting each other and analyzing the movie they gave you to digest,on various social media platforms..

Abi oooo. See progress

PigTormentor:
Dangote refinery that's not really working yet or will never work. Na scam according to some not too long ago.

ZUBY77:
How is this helping Nigeria? Or are we supposed to be bragging for nothing?
We still buy petrol products at very high cost here

How is this helping Nigerians? All the people working there and earning their livelihood there are Egyptians, right?

Nicoddemus:
As long as he doesn't monopolize the oil sector. He should allow room for competition. He's an asset to the nation

Did Dangote stop you or ur papa from building a Refinery?

esnbrutality:
Heard Europe rejected his diesel because of high Sulphur content that gradually destroys engines.

Nah thier way, but Africa big pass Europe

We would have achieved this goal back in the 1990's if we had removed subsidy and let the market set the price.

esnbrutality:
Heard Europe rejected his diesel because of high Sulphur content that gradually destroys engines.

Source?

Oh I remember beer parlour gist.

ZUBY77:
How is this helping Nigeria? Or are we supposed to be bragging for nothing?
We still buy petrol products at very high cost here

Oga, let's drop the politics, let's forget tinubu vs obi for a moment.

NO business sells things at a price that favors the consumers. Any government that tries that is going to end up with a lot of scarcity of product, and a lot of people waiting in lines for food and other produce.

For a business to flourish it must sell at a price that enables them to pay for improvements, replenish stock, pay salaries for workers, pay pension money for workers, and also pay for modernization of equipment where necessary.

FOr decades government was setting prices for petrol, and when they did partial removal of subsidy, they went and used the money saved for government projects, not refinery repairs and upgrading, which is why we had all our refineries collapse by 2019.

If government starts setting prices for dangote, the amount of money they would need to compensate for the resulting losses to his refinery would be something like 22-30 trillion naira or more. That means that money would be taken from other sectors like health, education, etc, to pay for subsidy. (Yes, government should cut costs, but Aso rock budget is not up to 2 trillion, national assembly not up to even N5 trillion, meanwhile subsidy spending would be around 2-4 trillion naira monthly at least.). How are they going to replace the money? Na by loan.

And if they keep doing that, if Peter Obi takes over and continues doing that, the kind of debt wey go hit us later no be small. It would make our current debt look like pocket money for a four year old child. Country could even run out of money totally.

Everyone is complaining of high oil prices, even in saner climes. And the best their governments can do is offer a few weeks of subsidy. A gfew weeks. Nigeria that our government no wan make us first world country, and you want us to pay for a whole year or more of subsidy? With which money?

frankson1:
Corrupt NNPC, NDPR, etc would have made the Dangote Refinery a national pride.

NNPC was prevented from operating as a world class company by subsidy..which restricted the funding that would have kept the refineries running.

ZUBY77:
Rich man, i ask again, what is the impact of this exportation of Jet fuel to us?
Petrol was cheaper here when there was no refinery.
Foods were cheaper.
Petrol jumped to above 1000 Naira immediately our mega refinery started work, and we are supposed to be jubiliating?
What job is it creating in the axis?
Should we start hawking petrol in the axis? Give us a clue bro

It's quite sad that the average Nigerian youth can't see opportunities. I will just give you one opportunity, you can use your brain to figure the rest out. Real estate Multi millionaires and billionaires are currently springing up on that axis, because due to the human influx to that axis due to the refinery, there is a high demand for long term and short term accommodation. So why don't you sell your village land and go buy land and build apartments on that axis? Oga, use ya brain

Afonja007:
where is the benefits for ordinary Nigerians? today cooking gas is 2k per kg ,dangote na where belle face he never criticise any government in power in Nigeria

Dangote is not father christmas to give free food to you or the ordinary Nigerian.

Nevertheless, the strides by Dangote in the oil sector is way more beneficial to the ordinary nigerian than all the governments put together since 1999. A single individual who employs more Nigerians than government and multinational operators, a single individual whose strides helps to directly and indirectly feed hundreds of thousands, that indeed is a hero figure, especially when compared with other wealthy Nigerians who dump and invest their loot in foreign countries.

DrAkpa:
It's quite sad that the average Nigerian youth can't see opportunities. I will just give you one opportunity, you can use your brain to figure the rest out. Real estate Multi millionaires and billionaires are currently springing up on that axis, because due to the human influx to that axis due to the refinery, there is a high demand for long term and short term accommodation. So why don't you sell your village land and go buy land and build apartments on that axis? Oga, use ya brain

Mr.Brain.
I am not an average Nigerian. I can easily stake a bet that I am way above your head by a large margin.

My question is for average Nigerians like you.

So you think it's that easy to sell village land and use it to buy land and build house/houses in Lekki?
How much is the village land and how many lands do you have in your own village?

How many houses do you have in that axis yourself? I live in Lekki, so I can easily come for verification if you want. That's if you promise not to kidnap me.

chucks185:
Refinery built with Nigeria's money

Emefiele took our foreign exchange from crude sales and allocated it to the Dangote refinery project. That was the beginning of Nigerian sorrows. And instead of Dangote showing mercy for Nigerians after the company comes to fruition, he carries salt and applies it to our injuries.

nairalanda1:
Oga, let's drop the politics, let's forget tinubu vs obi for a moment.

NO business sells things at a price that favors the consumers. Any government that tries that is going to end up with a lot of scarcity of product, and a lot of people waiting in lines for food and other produce.

For a business to flourish it must sell at a price that enables them to pay for improvements, replenish stock, pay salaries for workers, pay pension money for workers, and also pay for modernization of equipment where necessary.

FOr decades government was setting prices for petrol, and when they did partial removal of subsidy, they went and used the money saved for government projects, not refinery repairs and upgrading, which is why we had all our refineries collapse by 2019.

If government starts setting prices for dangote, the amount of money they would need to compensate for the resulting losses to his refinery would be something like 22-30 trillion naira or more. That means that money would be taken from other sectors like health, education, etc, to pay for subsidy. (Yes, government should cut costs, but Aso rock budget is not up to 2 trillion, national assembly not up to even N5 trillion, meanwhile subsidy spending would be around 2-4 trillion naira monthly at least.). How are they going to replace the money? Na by loan.

And if they keep doing that, if Peter Obi takes over and continues doing that, the kind of debt wey go hit us later no be small. It would make our current debt look like pocket money for a four year old child. Country could even run out of money totally.

Everyone is complaining of high oil prices, even in saner climes. And the best their governments can do is offer a few weeks of subsidy. A gfew weeks. Nigeria that our government no wan make us first world country, and you want us to pay for a whole year or more of subsidy? With which money?

Your analysis is not bad at all, I like that you are posting without insults like many people would do.
This government is borrowing a lot of money and we are not really seeing it.

ElSudani:
How is this helping Nigerians? All the people working there and earning their livelihood there are Egyptians, right?

Maybe this news should have been sent to those people working there.
How many people are working there?

obailala:
Dangote is not father christmas to give free food to you or the ordinary Nigerian.

Nevertheless, the strides by Dangote in the oil sector is way more beneficial to the ordinary nigerian than all the governments put together since 1999. A single individual who employs more Nigerians than government and multinational operators, a single individual whose strides help to directly and indirectly feed hundreds of thousands, that indeed is a hero figure, especially when compared with other wealthy Nigerians who dump and invest their loot in foreign countries.

But our foreign exchange Emefiele gave him for N130 per dollar is not freebies while we scramble for the black market to get it at N750.

Mind yourself.

esnbrutality:
Heard Europe rejected his diesel because of high Sulphur content that gradually destroys engines.

And some people liked your comments without verifying your opinion.

This happened when the refinery was ramping up production and it has since announced production of 10 ppm ultra-low-sulfur diesel intended to meet Euro-5 standards.

How you didn't hear the other news is weird of you.

esnbrutality:
Heard Europe rejected his diesel because of high Sulphur content that gradually destroys engines.

Those people will hide behind anything to perpetrate their racism.

chigator2:
Abeg, drop that narrative. Dangote will continue to dominate and monopolize industries in Nigeria as long as a large portion of the country’s wealthy class consists of people with deep pockets with lazy brains and little appetite for productive risk.

Where do wealthy Nigerians invest their money?

First, there are those who pour capital into quick-return schemes that add little long-term value to the economy. They fund luxury real estate projects in Abuja and Lagos, or buy up vast expanse of undeveloped land from local communities only to resell them at a markup downstream to other new money buyers who partake in the illusion of wealth creation that dominates Nigeria’s real estate culture buying largely unproductive land and expecting its value to double within a year simply because everyone wishes it will. Every body is selling land and properties these days, find one poor community, steal their land or pay the chief peanuts and tell investors it is the next banana island.

Then there are those who flock to already saturated “safe” industries after seeing others profit from them. Hospitality, auto dealerships, import businesses, trading, poultry ( haew ) and similar ventures are overcrowded with capital chasing familiar opportunities. The latest craze is China Importation. These businesses may generate profits for their owners, but they rarely create the kind of innovation, industrial capacity, or global competitiveness that attracts significant foreign direct investment and grows the economy or technological capacity of the labor force.

Countries that achieve sustained economic growth are often driven by wealthy individuals willing to back bold ideas, startups, research, advanced manufacturing, technology, and other frontier ventures. Their capital expands the productive capacity of the economy.

In the south-south that has the oil everyone is drilling and refining, those it mean that there are no big men there or even big government thieves that can at least pool money together to build something they can say is their own and by their own people. They are waiting for outsiders to come and invest so they can do pipeline security for peanuts. BUA is planning to build a refinery in Akwa-Ibom while Akpabio is plotting to sleep with other people’s wives and NDDC chairmen are servicing their girlfriends and foreign investments. Tomorrow someone will say na our oyel money, keep fooling yourself. Since the days of Adam, ownership of anything is determined by who takes it not you had it.

In Nigeria, too much capital follows trends instead of creating them. Too many investors copy one another rather than funding the next generation of industries. Until that changes, it is unrealistic to expect a handful of industrialists not to dominate sectors where few others are willing to take meaningful risks.

Maximum respect

twilliamx:
Keep hearing bad news. The global stats says a different story

Weird of him, abi?

That happened when the refinery was ramping up production. The new diesel meets Euro-5 standards.

Nicoddemus:
As long as he doesn't monopolize the oil sector. He should allow room for competition. He's an asset to the nation

No business man allows room for competition. Thr competition creates room for itself.

olaiya2007:
Baba with doings... When u av vision, things fall in place

..the man is very good in business..he has these business and entrepreneurial knowledge, skills and talent