₦airaland Forum

thesicilian:
I'll like to see this guy as the richest man in the world one day. A true Nigerian.

EagleScribes:
Can someone else see the direction this game is moving to?

A time will come that Nigeria's economy will be driven majorly by an individual.

Wait till when Dangote gets his refinery project completed

Onegai:
First, I'm a lady.
I agree with you: Otedola and co are not the best answer to Nigeria's problems because they benefit massively from Nigeria being messed up and governmental and institutionalized corruption. However, neither is Dangote a good answer to Nigeria's problems. All of them are two sides of the same coin.

Once there was a hypothetical mining company, they got their investors and technical know-how. They approached govt and got some headway (there's a reason your politicians are rich and it isnt that they stole directly from govt, it is because they align themselves with the right companies and use their influence to get concessions for that company. You cannot earn more than N100million without a politician in your pocket. Known fact about Nigeria). Somehow, they ran up against Dangote. Suddenly, BOI had fault with them. Same thing with another firm, govt agencies started seizing their supply trucks citing one misdemeanor or the other. Same thing with tomato paste and sugar. Now,all those people working for the other companies, do you think they're still getting paid even when their companies are not earning a profit? Imagine if we had a strong Middle class and Upper middle class, would we have a recession? No, because the best way to solve a recession is to spend money and distribute and have it flowing freely and not have everyone hoarding forex on the fear that Naira will crash further.

Remember the Graduate Driver program Dangote ran? I knew what was up, came to Nairaland to scream and shout till I was hoarse. Stay away, he is a ruthless capitalist and is only doing this to benefit himself (and get an international condition to some Bodies). Nobody listened to me and I was called a hater. Where are the Graduate drivers now?

Dangote is not a solution, not unless you like Slavery to masters of your own tribe and country rather than slavery to foreign masters. He is running the economy and you people, those of you waking up at 5am to go to work, earning N40k monthly and managing Grammar schools for your kids, are paying the price for his billions. Because you keep supporting him when you should be insisting on Govt setting caps on his behaviour. His refinery is being touted as the saviour of Nigeria, why on earth will any one want to give one man THAT MUCH POWER?

Abeg let me leave here, Himself and baby are sleeping away to sounds of Opera and Classical music. G'morning

Boss13:
You will celebrate him only for a short term, but you do not realise what the long-term impact will be. The people you mentioned their name cannot compete with Dangote anymore. They have created a niche for themselves and not spread their wings. Do you know how much metric tons of rice Nigeria consume in a year? That is the reason why Dangote went into rice processing not because he wants to help the economy and I also understand that his macaroni and spaghetti are of poor quality, now imagine that competence being moved into rice processing, we are left with eating poor quality rice and if you think you as a young entrepreneur can do better in providing quality rice, all he needs to do is lower prices due to cost efficiencies gained via first mover advantage and experience, and your business suffers; or rather he can employ top skills from Thailand to make the rice top quality and you my friend cannot do likewise, so you are forced to close shop.

Probably in the future, we would be paying house rent to Dangote. Let us be honest, he is killing dreams and ambitions of young Nigerians.

Now, let me ask this question - What does DANGOTE, I mean the business, not the man, stand for? You look at Microsoft, Google and Apple; you quickly mention Technology. How about Tesco, Shoprite, Wallmart; you quickly mention Retail Consumer Goods. How about Dangote, what does it stand for, what does it mean to Nigerians and to people in the World? What is Dangote's core competencies? What is it good at? What industry does it specialise in?

Do you know the answer - NOTHING. Dangote as a business is just a business that seeks out opportunities from various industries and enters into these industries and closes up the right to compete and the right for other new growing companies to enter into these industries. It is a Conglomerate, without core competencies, but a vehicle to express the ambition of over-ambitious men.

Naughtysite:
Right Now, Dangote is just controlling 3% of Nigeria's GDP.
But the man Carlos Slim is controlling 6% of Mexico's GDP.
Boys are not sleeping o..

dafuturis:
please expansiate, how is he going to get the Naira to such strength within that time frame.

is it possible??

Boss13:
[s]You will celebrate him only for a short term, but you do not realise what the long-term impact will be. The people you mentioned their name cannot compete with Dangote anymore. They have created a niche for themselves and not spread their wings. Do you know how much metric tons of rice Nigeria consume in a year? That is the reason why Dangote went into rice processing not because he wants to help the economy and I also understand that his macaroni and spaghetti are of poor quality, now imagine that competence being moved into rice processing, we are left with eating poor quality rice and if you think you as a young entrepreneur can do better in providing quality rice, all he needs to do is lower prices due to cost efficiencies gained via first mover advantage and experience, and your business suffers; or rather he can employ top skills from Thailand to make the rice top quality and you my friend cannot do likewise, so you are forced to close shop.

Probably in the future, we would be paying house rent to Dangote. Let us be honest, he is killing dreams and ambitions of young Nigerians.

Now, let me ask this question - What does DANGOTE, I mean the business, not the man, stand for? You look at Microsoft, Google and Apple; you quickly mention Technology. How about Tesco, Shoprite, Wallmart; you quickly mention Retail Consumer Goods. How about Dangote, what does it stand for, what does it mean to Nigerians and to people in the World? What is Dangote's core competencies? What is it good at? What industry does it specialise in?

Do you know the answer - NOTHING. Dangote as a business is just a business that seeks out opportunities from various industries and enters into these industries and closes up the right to compete and the right for other new growing companies to enter into these industries. It is a Conglomerate, without core competencies, but a vehicle to express the ambition of over-ambitious men.[/s]

Onegai:
[s]To everyone hailing Dangote and hoping to join him soon, I'm surprised you can't see the obvious:

Why is Dangote the only businessman who is getting all these government concessions?

There are several businessmen also involved in these industries yet you hear nothing from them. That's because Dangote owns each successive government and they do their best to favour him. He has become an Oligarch. Go to Russia and see what their Oligarchs caused. A few people owning the country makes it poorer, not richer. The wealth distribution has to be spread more to make Nigeria a wealthy country. Dangote had been known to shut down his opponents businesses with bribes to government to help him. For every 500 jobs he created, he killed 1500 more. I'm saying this as a fact that I know, from people who worked under him and businesses he killed so he could move in and monopolise the industry. So as you hail him, remember this: he won't allow you anywhere near his level to join him. So your dreams will remain just that, dreams.

To explain: let Nairaland become a multi-billion dollar potential earned and let Dangote become interested in Start-ups and social media. NL will either be forced to sell to him and the site will suddenly become spammed and start suffering crashes and having issues. Govt will start monitoring comments on the site and fighting everyone. Every thread will lead to wahala and dead ends. Dangote's website will seem like a safe haven and he will be able to control what you say and how and when you do. The End[/s].

Bubewilson:
When the rest of the world is going away from fossil fuel.... nigs are embracing it.

Bubewilson:
When the rest of the world is going away from fossil fuel.... nigs are embracing it.

989900:
Importation of refined fuel accounts for 30-40% of our Forex demands, Dangote refineries @650,000 barrels/day eliminates that, coupled with some other refineries that'd be on stream in 2-3 years . . . that means we might likely be exporting as much as over 500,000 barrels per day of refined fuel -- Forex income! Tie in Dangote fertilizer, sugar, and rice mill (and other rice mills) eliminating need for Forex for those items. Dangote refineries is being engineered to deliver enough MW for the refineries and probably the whole of Lagos -- with improved power supply, comes reduced fuel consumption and a bustling and thriving economy -- luring investors in. #nairawins

I can go on, but lets leave it here for now . . .

bigsam1992:
Dis recession dey affect our govt but no dey affect dangote. I don't understand dis tin again

kaen1317:
Everything and everywhere that money is to be made you find Dangote. The only thing left is for him to go into shiit mining

989900:
He knows what he is doing: first he is going to try to get the Naira to say N100/$ say in 3-4 years, that automatically almost quadriples his net worth.

Olokola is a coastal area shared in common by Ondo and Ogun states. It is the area selected by the governments of the two states for the joint establishment of a free trade zone. And being mentioned in connection with it are a gas company and a sea port. This is a development somewhat alien to the western parts of this country and hence yet to be fully understood not only by the man on the street but most instructively by some of the new helmsmen as demonstrated by the chief of staff to the governor of Ondo state, Dr. Kola Ademujimi, who in a recent TV programme demanded from erstwhile governor Agagu the files on the gas company located in the zone, on the apparent assumption that the company was an integral part of the government’s investment there.

The fact is that a free trade zone is basically an industrial infrastructure provided for others to use. Also known as export processing zone, it is a special area of a country where some normal trade barriers such as tariffs and quotas are eliminated and bureaucratic requirements are lowered in the hope of attracting new business and foreign investments. It is a region where a group of countries has agreed to reduce or eliminate trade barriers. The companies that set up in the zone are given tax breaks or holidays as an additional incentive. Bureaucracy is typically minimized by giving the zone to a professional operator to manage.

FTZs are very attractive to multinational corporations for the setting up of factories. The zones rapidly grow into labour intensive manufacturing centres that involve the import of raw materials or components and the export of factory products, on a large scale. Indeed, the basic objectives of FTZs are to enhance foreign exchange earnings, develop export-oriented industries and generate employment opportunities.

Before the establishment of the Olokola free trade zone, this country has had two operational free trade zones, namely, the Calabar export processing zone and the Onne oil and gas free trade zone, both on the eastern side of the country’s coastline. The new Olokola free trade zone (OKFTZ, for short) now fills the vacuum created by the absence of such a zone on the western side.

The Olokola location for the project was adopted after an evaluation of the area in comparison with other contending locations at Epe, Lekki, Aiyetoro and Escravos. The area covers 10,000 hectares and this makes it the largest of the three free trade zones now in the country. It has only one principal town, Araromi seaside, and an assortment of small villages. The area is generally flat with a sandy beach of grasses. The hitherto undeveloped and ignored area is now the centre of what might turn out to be the greatest industrial activity in this country.

Already the Ondo state government has constructed a multi-billion-naira highway from Igbokoda to Aiyetoro and Araromi seaside. This will link with another highway from Lekki to Araromi seaside. The Niger Delta Development Commission, NDDC, has commenced the dredging of the east-west coastal waterways traversing Ogun, Ondo and Delta states. The area’s electricity supply is being handled by Ondo state through OSOPADEC. The state is also in partnership with NDDC for the drilling of boreholes to supplement the area’s water supply schemes.

As an integral part of the free trade zone, a deep sea port is being established in the area. Right now, the Lagos port is the only one serving the western side, compared with the east that has four, namely, the Calabar, Onne, Port-Harcourt and Warri sea ports. The new Olokola port was designed to fill this vacuum and provide facilities that could make the Lagos port turn green with envy.

As expected, various companies have begun to show more than a passing interest in the area. Notable among these is the Olokola Liquefied Natural Gas Enterprises otherwise known as OKLNG. It is a private company owned by the NNPC, Chevron/Texaco, Shell and British Gas. It is the pioneer company in the zone with a planned investment of 14 billion, not million, US dollars. It plans to employ 28,000 persons including 4,500 engineers and technicians. In anticipation of these, the Ondo state government has started a training programme with the petroleum training institute Warri for its indigenes to enhance their qualifications and chances for employment with the company. The Don Bosco Institute in Ondo town has also been singled out for development into a training centre for the employees of the company. And the new Ondo State University of science and technology will run courses designed to meet the specific needs of the company and anticipate the needs of the other companies expected to emerge in the course of events.

The development and management of the free trade zone are in the hands of a development company known as OKFTZE.

Everything considered, the Olokola free trade zone is set to transform the industrial landscape of Ondo state. By the time it attains maturity, it would have had onshore LNG/LPG plants, oil refineries and petrochemical plants, going by its design. It would also have had heavy and light industries, international commercial centres, residential and recreation areas, airstrips, fuel bunkering facilities, as well as bonded warehouses and pipe rack. It would have had conventional infrastructure, including internal road network, reliable electricity and water supplies, communication facilities, security services and the like. Olokola is a life-changing phenomenon the credit for which must not get lost into history but be given to those who envisioned it: Governors Olusegun Agagu and Gbenga Daniel of Ondo and Ogun states.

Blooming Faith Petroleum Limited, a subsidiary of Blooming Faith Global Holdings Limited based in Hong Kong has concluded arrangements to partner with the federal government to build and operate a 200, 000 barrels per day capacity refinery in Akwa Ibom State.
Chairman of the company, Dr. Robert Yeung, told newsmen at the weekend that his company’s interest in constructing the refinery was boosted by the discovery that Nigeria, a major oil producing nation in the world relied on importation of refined products to attend to its domestic needs.

forgiveness:
How is that possible?

989900:
I answered that already, kindly look for my other posts on this thread.

thesicilian:
I'll like to see this guy as the richest man in the world one day. A true Nigerian.

jabojafa:
the moni Bill Gate has given to charity so far is more than $30billion which is also more than half of Dagote's worth.

989900:
Importation of refined fuel accounts for 30-40% of our Forex demands, Dangote refineries @650,000 barrels/day eliminates that, coupled with some other refineries that'd be on stream in 2-3 years . . . that means we might likely be exporting as much as over 500,000 barrels per day of refined fuel -- Forex income! Tie in Dangote fertilizer, sugar, and rice mill (and other rice mills) eliminating need for Forex for those items. Dangote refineries is being engineered to deliver enough MW for the refineries and probably the whole of Lagos -- with improved power supply, comes reduced fuel consumption and a bustling and thriving economy -- luring investors in. #nairawins

I can go on, but lets leave it here for now . . .

Bubewilson:
When the rest of the world is going away from fossil fuel.... nigs are embracing it.

EagleScribes:
Can someone else see the direction this game is moving to?

A time will come that Nigeria's economy will be driven majorly by an individual.

Wait till when Dangote gets his refinery project completed

mikolo80:
4 companies run Korean economy Samsung LG Hyundai and Kia
Imagine if each politician had a farm or factory like him
We will not be in this mess

anyaekekehinde:
Good.
Let us also have 4 companies like this or 4 brands like this.
Not dangote this , dangote that, now if you look carefully, these 4 companies in Korea have a close range of operating income.
There was time standard oil was the only oil company in the world, when I mean only , I mean only as in having almost 90% of market share. Today its not so, we have exon, shell, chevron, Conoco philip, Total.. This is how it should be. Not that we all have only one exon mobile.
Hope you are aware that its thesam standard oil (owned by rockerfeller) that American government had to use anti-trust laws to break into exon, chevron etc.. Just one company.
Its not that the dangote is the only billionaire that has mind to take risk in Nigeria, its just that the way things are run, people are afraid what may happen if I set up a business and dangote with his connection comes into similar business, dangote has survived every regime change, the regime change that would have clipped dangote's wings is that of umaru musa yarudua but he didn't live long

mikolo80:
4 companies run Korean economy Samsung LG Hyundai and Kia
Imagine if each politician had a farm or factory like him
We will not be in this mess

mikolo80:
4 companies run Korean economy Samsung LG Hyundai and Kia
Imagine if each politician had a farm or factory like him
We will not be in this mess

EagleScribes:
You are so on point my brother. Unfortunately, they will never do that, but rather jostle for oil blocs and oil money

mikolo80:
why we need to get in there and change it