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The Dangote Refinery.. What Impact Will It Have On The Economy - Politics - Nairaland

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The Dangote Refinery.. What Impact Will It Have On The Economy by abiolamitodun(m): 8:42pm On Apr 17, 2018
let's discuss
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by deomelo: 9:21pm On Apr 17, 2018
1. No more fuel import and shortages

2. Export petroleum products and earn foreign exchange for Nigeria

3. Satisfy local demand and Export fertilizer and petrochemical products for foreign exchange

4. Create hundreds of thousands of jobs for Nigerians

5. Significantly boost manufacturing output

6. Produce 12,00MW of electiricity

7. Produce and export gas

8. Multiply or triple Lagos state's IGR.


.....I see endless benefits across he board.

7 Likes 1 Share

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by freeze001(f): 9:27pm On Apr 17, 2018
When is it supposed to come into full operation?
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by CodeTemplar: 9:29pm On Apr 17, 2018
Near monopoly. Renewed anger among the oil producing communities. Saving of forex. decongested ports. ... I wonder why FG can't build something similar.
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by Omololu2121: 9:33pm On Apr 17, 2018
Brb
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by Omololu2121: 9:35pm On Apr 17, 2018
CodeTemplar:
Near monopoly.
Renewed anger among the oil producing communities.
Saving of forex.
decongested ports.
...
I wonder why FG can't build something similar.
why should the FG build more refinery, when the ones they have in delta,rivers and Kaduna are all messed up.

And other refineries are been built too,a refinery is been build in ondo state,though it's not gonna be as dangote refinery, but it's also big

3 Likes 1 Share

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by CodeTemplar: 9:39pm On Apr 17, 2018
Omololu2121:
why should the FG build more refinery, when the ones they have in delta,rivers and Kaduna are all messed up.

And other refineries are been built too,a refinery is been build in ondo state,though it's not gonna be as dangote refinery, but it's also big
Because govt around the globes have huge stakes in refineries and oil. Nigeria's case is caused by domination or others resource. You don't grow injustice.
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by Nobody: 9:46pm On Apr 17, 2018
1. No more fuel import and shortages
yes.

2. Export petroleum products and earn foreign exchange for Nigeria
minimal foreign exchange for Nigeria, dangote own a huge chunk of d foreign revenue.

3. Satisfy local demand and Export fertilizer and petrochemical products for foreign exchange
it'll only satisfy local demand if d masses can afford to buy it at an over-price. He'll dictate d price of petrol.

4. Create hundreds of thousands of jobs for Nigerians
yes

5. Significantly boost manufacturing output
not totally correct. If the electricity potential will be harnessed, fine.

6. Produce 12,00MW of electiricity
false, the refinery won't produce 12,000MW, it's not a power plant. The gas pipeline will have the potential to generate 12,000MW, not d refinery itself. If the government does not build d necessary infrastructure to produce d electricity, it'll be wasted like every other refinery in Nigeria through gas-flaring.

7. Produce and export gas
that's dangote's gain, not Nigeria... believe me, he won't pay tax cause of tax-holiday. He's a freaking monopolist that can only thrive in this #shit_hole.

8. Multiply or triple Lagos state's IGR
. True.


.....I see endless benefits across he board.[/b]
I see a man with bigger vision than d whole of our leaders combined. I doubt if a single person or a non-oil company own refineries. He's thriving on d incompetency of our leaders and wanton corruption.

Cc.....deomelo.

4 Likes 2 Shares

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by EVarn(m): 10:56pm On Apr 17, 2018
deomelo:
1. No more fuel import and shortages

2. Export petroleum products and earn foreign exchange for Nigeria

3. Satisfy local demand and Export fertilizer and petrochemical products for foreign exchange

4. Create hundreds of thousands of jobs for Nigerians

5. Significantly boost manufacturing output

6. Produce 12,00MW of electiricity

7. Produce and export gas

8. Multiply or triple Lagos state's IGR.


.....I see endless benefits across he board.
How will it multiply or triple Lagos IGR?
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by deomelo: 11:12pm On Apr 17, 2018
EVarn:
How will it multiply or triple Lagos IGR?


Taxes from hundreds of thousands of workers and jobs created

Taxes from the refinery operation

Taxes from expanded commercial activities with manufacturers and industries sourcing raw materials locally and saving cost.

Taxes from indirect and informal sources..


Lagos hosting the largest single refinery in the world. largest petrochemical plant in Africa, largest fertilization plant in Africa, largest Gas plant in Africa means only one thing, IGR.

3 Likes 1 Share

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by deomelo: 11:53pm On Apr 17, 2018
shervydman:
yes.

minimal foreign exchange for Nigeria, dangote own a huge chunk of d foreign revenue.
it'll only satisfy local demand if d masses can afford to buy it at an over-price. He'll dictate d price of petrol.

The fact that we won't be spending our scarce foreign exchange on petroleum products, especially on raw materials for industrial plastics to plastic bags, containers, pipes, drums, fixtures, utensils, packages and so on, apart from what Dangote factory itself is earning negates your point.

It's a win win situation or Nigeria and Dangote.


not totally correct. If the electricity potential will be harnessed, fine.

false, the refinery won't produce 12,000MW, it's not a power plant. The gas pipeline will have the potential to generate 12,000MW, not d refinery itself. If the government does not build d necessary infrastructure to produce d electricity, it'll be wasted like every other refinery in Nigeria through gas-flaring.

The idea remains production of 12,000MW so let's wait and see.


that's dangote's gain, not Nigeria... believe me, he won't pay tax cause of tax-holiday. He's a freaking monopolist that can only thrive in this #shit_hole.


This is your opinion and not facts.

The fact that he's the only Nigerian sensible enough to invest in what other Nigerian billionairs fused to invest in doesn't meke him a monopolist.

The FG gave out dozens of refinery licences, but they all sat on them and refused to build refineries, so why blame Dangote?




I see a man with bigger vision than d whole of our leaders combined. I doubt if a single person or a non-oil company own refineries. He's thriving on d incompetency of our leaders and wanton corruption.

The FG can only provide the enabling environment for investors to build refineries and such projects, that's all they can do and folks like Dangote and rising up to the occasion.


It's ok so see and call your own country a shithole, but unfortunately for you, you are a member and participant in that shithole.

3 Likes 1 Share

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by Sirjamo: 12:04am On Apr 18, 2018
Omololu2121:
why should the FG build more refinery, when the ones they have in delta,rivers and Kaduna are all messed up.

And other refineries are been built too,a refinery is been build in ondo state,though it's not gonna be as dangote refinery, but it's also big
Why can't government build refineries? Saudi has some for local consumption and another is being built for exportation only. That useless poverty development party made trillions of dollars from crude oil receipt alone in sixteen years , but could not give us an ordinary modullar refinery of five barrel per day. God punish pdp and all it supporters

1 Like

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by LoveDecay(m): 12:24am On Apr 18, 2018
shervydman:

I see a man with bigger vision than d whole of our leaders combined. I doubt if a single person or a non-oil company own refineries. He's thriving on d incompetency of our leaders and wanton corruption.

On the contrary, Dangote is simply doing what many Nigerian businessmen do not have the discipline to do.

And, that is read the fine print. Dangote simply looks at the government policy and works hard at ensuring his business does not collide with these policies but instead take advantage of them.

Sit down for five minutes and ask yourself; how many government policies do you have information on? I mean you can walk into the ministry of information and request for every policy currently active in the country.

But who does it. Yet, the wonder why the farmer makes more money than the banker today. Its is simple information.

Nigerian businessmen do not read or research, they bribe and profit on consumer ignorance.

Every business Dangote is into is seamlessly fine tuned with government policies. From sugar, to construction, to oil, to salt.

https://www.youtube.com/watch?v=XRBGX59O-
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by Obi1kenobi(m): 12:34am On Apr 18, 2018
De-clogging the mess in Apapa alone would be one massive weight off the shoulders. Those of us with dealings in that axis are really suffering. At full production capacity, should make us a net exporter and earn foreign exchange. On a macroeconomic scale, the benefits to the economy would be absolutely massive. Dangote himself would accelerate his climb up the Forbes list with his new established monopoly.

The problem would potentially be on a micro-economic scale among millions of local consumers of the product. Dangote's rise in the cement sector only made the product far more expensive than when we imported most of the cement. He and the new cartel got to dictate the price and Nigeria's cement price consequently became the most expensive in the world (I've compared with many countries and I'm yet to see where cement is more expensive than in Nigeria). His profit margins are staggering by global standards and I believe he and the other market leaders exploit a poor regulatory framework to rip off Nigerians. Hopefully, this wouldn't be replicated when most of the crude products at pumps all across the country come from his refinery.

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Re: The Dangote Refinery.. What Impact Will It Have On The Economy by AdaFonju: 5:50am On Apr 18, 2018
Our refineries were killed so that this Aboki will monopolize everything

1 Like

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by porka: 6:58am On Apr 18, 2018
Why don't you wait and see how the refinery is run before making bogus assumptions.

It is such assumptions that put us into the quagmire we are presently in. People with limited knowledge often come out to publish "water into wine" kind of emotional narratives that have proven to be false.

There's no single investment that can do the magic in any economy as people are expecting this one to. There must be several hundreds if not thousands of such investments before the boasts can make any meaning.

Dangote will buy the major raw material of his company from oil producers in dollars. Oil is sold in dollars. This can only be positive for the foreign exchange reserve if he exports and earns more in dollars than he has spent. If he decides to sell locally to Nigerians he would earn naira.

Dangote as a businessman might prefer exports to selling locally for higher margin especially at the earlier years because he has to repay the billions of dollars facility he took from financial institutions. If he does that, it means importation would still be with us for more years. Except the marketers are able and willing to buy from him at a competitive price.

Also, on jobs, there will definitely be people employed but the "massiveness" is left to be seen. The oil industry is not a labour intensive sector. It's rrquires technical skills that may not be in ready supply while technology and automation have been introduced to cut down the physical manpower requirements. So yes, people will be employed but we should tone down the proportion. Many of the people currently working on the construction will be asked to go after all bolts are screwed and left for technology to continue.

It is always better to be cautious while making assumptions on things that have not been tested.
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by mikolo80: 4:48pm On Apr 18, 2018
govt has no business in business
it always fails
CodeTemplar:
Near monopoly.
Renewed anger among the oil producing communities.
Saving of forex.
decongested ports.
...
I wonder why FG can't build something similar.

1 Like

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by mikolo80: 4:49pm On Apr 18, 2018
CodeTemplar:
Because govt around the globes have huge stakes in refineries and oil. Nigeria's case is caused by domination or others resource. You don't grow injustice.
stake not management which is what they do now and run it into the ground
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by mikolo80: 4:55pm On Apr 18, 2018
shervydman:
yes.

minimal foreign exchange for Nigeria, dangote own a huge chunk of d foreign revenue.

its still savings in demand for forex


it'll only satisfy local demand if d masses can afford to buy it at an over-price. He'll dictate d price of petrol.
don't worry fuel will be smuggled into nigeria to keep price in check
just like cementor ppl will burn his refinery down


yes

not totally correct. If the electricity potential will be harnessed, fine.

false, the refinery won't produce 12,000MW, it's not a power plant. The gas pipeline will have the potential to generate 12,000MW, not d refinery itself. If the government does not build d necessary infrastructure to produce d electricity, it'll be wasted like every other refinery in Nigeria through gas-flaring.

that's dangote's gain, not Nigeria... believe me, he won't pay tax cause of tax-holiday. He's a freaking monopolist that can only thrive in this #shit_hole.

hate the game not the player


. True.


I see a man with bigger vision than d whole of our leaders combined. I doubt if a single person or a non-oil company own refineries. He's thriving on d incompetency of our leaders and wanton corruption.

Re: The Dangote Refinery.. What Impact Will It Have On The Economy by CodeTemplar: 5:07pm On Apr 18, 2018
mikolo80:
govt has no business in business it always fails
Stop the delusion.
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by mikolo80: 5:13pm On Apr 18, 2018
CodeTemplar:
Stop the delusion.
govt business always fails
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by CodeTemplar: 5:22pm On Apr 18, 2018
mikolo80:
govt business always fails
In Nigeria or a around the world?
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by mikolo80: 6:00pm On Apr 18, 2018
CodeTemplar:
In Nigeria or a around the world?
world over
socialism does not work due to human weakness
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by kayfra: 6:47pm On Apr 18, 2018
mikolo80:
govt has no business in business
it always fails

Exactly!

Government's business should only be in collecting tax revenue.
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by bookworm: 7:07pm On Apr 18, 2018
I have a question..people building depots in satellite town where I live ,How will this affect them?the tankers coming in and out and parking everywhere has made our lives living hell. Are there pipelines from dangote refinery to different parts of Nigeria?
Re: The Dangote Refinery.. What Impact Will It Have On The Economy by mikolo80: 7:19pm On Apr 18, 2018
kayfra:


Exactly!

Government's business should only be in collecting tax revenue.
even that they still fail
only defence in my book
even police will be better private

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