nairaman66:


Dream on!! The world is moving from petrol based economy!! That’s why every country out there are diversifying!! So you think we are still in the 1800??

E b like say u dey jealous of d man

Cos u talk in pain

Abortedfetus:
like play like play,
dangote to take over.

bet me and Mark my words,
he is gonna become d richest man in d world.

Tech billionaires will always be the richest
Plus dangote has lost 50% of his net worth..
Thanks to the apc

deepwater:


Ignorance?!

Obviously, you know nothing about the refinery.

Even kachikwu and yemi had to swallow their words last year (don't scream, the links in here already).

My dear abeg make Una dey discuss matter wey Una understand abeg.

This illiterate troublemaker of a boy is here again.
Spit!
Next time, you'll never find trouble in your life again.

Monopolizing the market to increase his stats as d richest man.... Nonsense

omonnakoda:
This year?

The truth is that Dangote does not have the money to complete the project this year.

Earlier they said it would be ready by now

Borrow am(Dangote) money na make he take complete d project.

Iziquiel:

Borrow am(Dangote) money na make he take complete d project.

Shut your stinking mouth

Dangote is 60 years old .

He won't live forever

Hopefully his legacy is genuine Nigerian multinationals that endure a hundred years like Ford GE etc.

PrettyCrystal:
Reports have it that Dangote refinery has taken delivery of a gigantic distillation component.

It is learnt that the component is one of the biggest in the world as the refinery is billed to start producing PMS and allied products later this year.

The engineers received the distillation component, which has attracted attention from Lagosians in Ibeju-Lekki area. 

The completion of Dangote Refinery this year will mark another milestone in the Nigerian oil and gas industry as the $11 billion refinery hold the prospect of stopping of refined petroleum products by Nigeria. 

The Dangote Refinery will produce 650,000 barrels per day of refined petroleum products to meet all the country’s refined petroleum products needs as well as export to other countries. 

Dangote, the promoter, said that the refinery projects were primarily meant to diversify the resource base of Nigeria. 

See more; https://www.nationalhelm.co/2019/01/dangote-refinery-takes-delivery-of-distillation-component-in-lagos.html

Despite all this dangote taken over things, it doesn't mean petrol price will go down. All nah monopoly. That is why me i dont like hearing dangote. Did the prices of all his items go down since he took over them. I remember what he said before he took over other cement companies. He promised cement price will go down but never went down.

omonnakoda:
Shut your stinking mouth

Poor bastar*d, I thought u had some money to lend him.

mikolo80:
how
Is it his fault that none of his competitors can supply demand
Lafarge has 3 million ton cement plant
Knowing fully well that Nigeria needs 14 million
Did dangote stop them from building cement plant
Is it him or govt that stop you from farming rice and wheat and sugar For almost 30 years ?

What is this one saying?

please how did your comment correspond to what I said?

I told you that dangote do frustrate his competitor with the help of our useless government you are here telling me how someone go into rice and other didn't.

well why is it that anytime that dangote want to go into producing a goods the government will increase importation tax rate on the goods even when they know that it will increase the cost of the goods and dangote will never sell it products at the price the goods was before the government increase the importation tax?

omonnakoda:

There is no law compelling petroleum refiners to sell their products at subsidized rates if they do not receive subsidy/subsidized products

Thanks for the earler explanation...but this your last comment...is why I think that subsidy removal is the only way to guarantee more investment in refinery construction.

Dangote is not going to sell his fuel at subsided rates, especially as all government might pay him is just the difference between the actual cost of production and the subsided price....which would just allow him recover production costs...but not allow him make a profit.

It is that bit...the no profit bit...that is the reason why we kept on having fuel scarcity,and why Buhari's temporary fix of paying 'under-recovery ' to the NNPC who now do most of the importing...is not going to work in the long term.

In short...subsidy is government making it impossible for marketers and by extension any domestic refiner to make a profit. Because...if Dangote does as you say he would...sell at prices higher than subsidy prices....marketers buying Dangote fuel would be reselling PMS at a loss.

And at the end of the day...either subsidy goes...or Dangote becomes an exporter. There is no other way.

nairaman66:


Dream on!! The world is moving from petrol based economy!! That’s why every country out there are diversifying!! So you think we are still in the 1800??

Your comment didn't make sense, petroleum products are highly demanded all around the world even a thousand years to come.
Homes, industries, schools, hospitals, churches etc use petroleum products.

Felixv:


Cars are going electric but manufacturing — the powerhouse of industrialization needs more petrol than it can find.

The sooner this refinery comes in stream the better for us.

For us or the politicians?
Don't be fooled this money isn't ours.

omonnakoda:
Do not worry Dangote will soon start a car plant so we can drive our Dangote cars with Dangote fuel with our belly full of Dangote noodles and Tomato to our Dangote cement houses
Dangote will take care of us

Dangote has ventured into vehicle assembling already.

He is now the sole assembler of Chinese made Howo Sinotruck trucks in West Africa, his assembling plant is located at Oba Akran Lagos, currently operating as we speak.

He has also ventured into construction, he is the one constructing Apapa road in Lagos as Nigerian Government awarded him the contract already last year.

He will soon venture into banking and retail shopping like Walmart, Shoprite.

Dangote has used his overbearing power and influence in Nigerian government to kill competitors in cement manufacturing sector.

Lafarge one of the largest cement manufacturing plants in Africa has been sold and bought by foreigners more than thrice due to struggling economy as Dangote keep using his government funds to crash cement price in a bid to make it difficult for other cement companies to break even and catch up, hence some struggle to meet up and Dangote keep using every available method to kill his cement business competitors. I speak based on insider info.

In as much as its good for him, it is not too good for a developing nation like Nigeria for one man to wield so much power in virtually all sectors of the economy, in western and developed countries, government will checkmate his excesses using some factors, especially heavy taxation which Nigerian government do give him tax waiver and FOREX waiver still instead of taxing him heavily.

Many average Nigerians will think its cool, but in the long run, it's not good because it will kill competition and monopolize the economy and this will affect industrialization and mass job creation.

Nigeria is really not a working country at all

Your comment especially the bolder is spot on but no one wants to hear it, not even so called educated Nigerians. The policies that will make us better and that we should pursue requires sacrifice which the poor doesn’t want to accept because they are poor, and the rich will not because they are corrupt.

theoldpretender:
It is nice, but it won't solve our fuel supply issue.

Only subsidies removal which attracts foreign and local investment to build more refineries will do the trick.

But no one wants that. Nigeria is somehow too poor for good economic policies

omonnakoda:
Is that how you talk to your father?

Go and learn how to communicate like a human being

This is not a zoo

My father does not say rubbish he does not know about and rant on a public forum.

Dangote is not the only one financing the project. Consortium of banks are doing that with him.

So Methuselah, Respect your old age and stop posting nonsense on a public forum.

Firebomber:


What is this one saying?

You're a fool for calling me this one

please how did your comment correspond to what I said?

I told you that dangote do frustrate his competitor with the help of our useless government you are here telling me how some go it rice and other didn't.

How did govt or dangote stop you or anybody from planting rice or building cement plant
Did I say importation
Custom (govt can stop you)
But will they say you should not plant it in your backyard
Read and comprehend before running your mouth

well why is it that anytime that dangote want to go into producing a goods the government will increase importation tax rate on the goods even when they know that it will increase the cost of the goods and dangote will never sell it products at the price the goods was before the government increase the importation tax?

did I mention importation?
Is dangote importing cement now?
Read and understand before displaying crass ignorance and stupidity

theoldpretender:


Thanks for the earler explanation...but this your last comment...is why I think that subsidy removal is the only way to guarantee more investment in refinery construction.

Dangote is not going to sell his fuel at subsided rates, especially as all government might pay him is just the difference between the actual cost of production and the subsided price....which would just allow him recover production costs...but not allow him make a profit.

It is that bit...the no profit bit...that is the reason why we kept on having fuel scarcity,and why Buhari's temporary fix of paying 'under-recovery ' to the NNPC who now do most of the importing...is not going to work in the long term.

In short...subsidy is government making it impossible for marketers and by extension any domestic refiner to make a profit. Because...if Dangote does as you say he would...sell at prices higher than subsidy prices....marketers buying Dangote fuel would be reselling PMS at a loss.

And at the end of the day...either subsidy goes...or Dangote becomes an exporter. There is no other way.

I do not get your logic AT ALL.
$11 billion is being invested without subsidy removal so subsidy removal cannot be the ONLY way

I am sorry but your assertion abouut NO profit is NONSENSE
There are many layers in the oil industry

Crude extraction
Refining
Marketing
They are all quite profitable.
We are buying X litres of petrol today internationally. Are we buying at subsidized rates?
NOOOOOOOOOO
So any investor in refining who produces X litres of petrol in Nigeria can reasonably expect to sell it at what we pay to refiners in the UK currently

A major reason why there is no investment from outsiders is what happened probably before you were born
BP was nationalized by Obasanjo government for political reasons and that reputation lingered

Nothing to do with subsidy

Subsidy comes in at the Post Refinery stage.

Nothing to do with refining and is adifferent segment of the market.
In fact refiners do not have to sell in Nigeria and Dangote may end up not selling most of his product in Nigeria just as he does not have to get his crude from Nigeria

Please inform the public well,That project do not have any schedule date of this year for completion. The fertilizer is about 60-70% rate of work done already.. There are about 4 news coming from Asia companies that came in late last year to also faster the project.. I'm one of the contractor at the fertiler site and we are on an ongoing bid for job at the Refinery.. Thanks no hype..

post=74648654:


This is MASSIVE.
The first in the history of Nigeria.
We are getting to a new dawn gradually.
God bless Nigeria.

hope you won't count this as one of your Lifeless master's achievement..

PrettyCrystal:
Reports have it that Dangote refinery has taken delivery of a gigantic distillation component.

It is learnt that the component is one of the biggest in the world as the refinery is billed to start producing PMS and allied products later this year.

The engineers received the distillation component, which has attracted attention from Lagosians in Ibeju-Lekki area. 

The completion of Dangote Refinery this year will mark another milestone in the Nigerian oil and gas industry as the $11 billion refinery hold the prospect of stopping of refined petroleum products by Nigeria. 

The Dangote Refinery will produce 650,000 barrels per day of refined petroleum products to meet all the country’s refined petroleum products needs as well as export to other countries. 

Dangote, the promoter, said that the refinery projects were primarily meant to diversify the resource base of Nigeria. 

See more; https://www.nationalhelm.co/2019/01/dangote-refinery-takes-delivery-of-distillation-component-in-lagos.html

when you see true wonder you know, not the 50k or 100k capacity church without a pilar at the centre! the only people who see wonders in that are the pastors who just want to make sure that their churches make the impression it doesn't make.

true wonders attracts people, just as this has attracted people to come out of their houses to have a good look, while the only reason people visited those churches is because they are place of worship.

i really wonder what the wonder is about those church building; i mean, the wembley, and the millenium stadia both have roofs and there are no pillars holding them up. they even have retractible roofs these churches don't have!

@frosbel @joagbaje @asuustrike @annas09 @Donnie

Abortedfetus:
like play like play,
dangote to take over.

bet me and Mark my words,
he is gonna become d richest man in d world.

when the world is embracing tesla and solar power?

AntiWailer:



My father does not say rubbish he does not know about and rant on a public forum.

Dangote is not the only one financing the project. Consortium of banks are doing that with him.

So Methuselah, Respect your old age and stop posting nonsense on a public forum.

Go and hang out with your father , not interested in your views

No wonder Otetola sold his share to build refinery.

Abortedfetus:
like play like play,
dangote to take over.

bet me and Mark my words,
he is gonna become d richest man in d world.

Agreed! but not by refining crude oil. Attention is being given to renewable energy globally.

Plane carried this thing?

franchasng:
Dangote has ventured into vehicle assembling already.

He is now the sole assembler of Chinese made Howo Sinotruck trucks in West Africa, his assembling plant is located at Oba Akran Lagos, currently operating as we speak.

He has also ventured into construction, he is the one constructing Apapa road in Lagos as Nigerian Government awarded him the contract already last year.

He will soon venture into banking and retail shopping like Walmart, Shoprite.

Dangote has used his overbearing power and influence in Nigerian government to kill competitors in cement manufacturing sector.

Lafarge one of the largest cement manufacturing plants in Africa has been sold and bought by foreigners more than thrice due to struggling economy as Dangote keep using his government funds to crash cement price in a bid to make it difficult for other cement companies to break even and catch up, hence some struggle to meet up and Dangote keep using every available method to kill his cement business competitors. I speak based on insider info.

In as much as its good for him, it is not too good for a developing nation like Nigeria for one man to wield so much power in virtually all sectors of the economy, in western and developed countries, government will checkmate his excesses using some factors, especially heavy taxation which Nigerian government do give him tax waiver and FOREX waiver still instead of taxing him heavily.

Many average Nigerians will think its cool, but in the long run, it's not good because it will kill competition and monopolize the economy and this will affect industrialization and mass job creation.

Nigeria is really not a working country at all

Dangote will not live forever .I guess you are still young enough to take over from him when he goes.

In the past we have had other so called rich Nigerians who have not left any business legacy.
I hope his business is still around in 100 years like Ford Motors
There are several other Oligopolists in Nigeria and elsewhere.

I think we need a Conglomerate like Dangote which is a listed company ,by the way with time the share of Dangote in the business will depeciate as percentage


Do you know how much of Microsoft Bill Gates owns??

4%

So I think Dangote is doing what he is doing because we let him Nigeria will grow and many more Dangotes will arise the Nigerian sjy is wide enough for many birds

omonnakoda:
Go and hang out with your father , not interested in your views

I guess yours died a very long time ago. Cos u can barely type anything sensible without screaming "Father ! Father !"

You need to be interested in fact so get that fact into your empty brain and drop your stupid assertion you called 'truth'

Abortedfetus:
like play like play,
dangote to take over.

bet me and Mark my words,
he is gonna become d richest man in d world.

When you don't follow events happening around the world then you will inevitably see things the way you do.

AntiWailer:


I guess yours died a very long time ago. Cos u can barely type anything sensible without screaming "Father ! Father !"

You need to be interested in fact so get that fact into your empty brain and drop your stupid assertion you called 'truth'

Yours will die next week

sinaj:
when the world is embracing tesla and solar power?

And you think there production plants don't use or need petroleum products abi?

deepwater:


Ignorance?!

Obviously, you know nothing about the refinery
Even kachikwu and yemi had to swallow their words last year (don't scream, the links in here already).

My dear abeg make Una dey discuss matter wey Una understand abeg.

Lol...very passive aggressive of you, but i have already unsubscribed from this issue dear, the way he skewed his comment came across like he was completely oblivious about the completion date, I simply and respectfully hitched my reply on that, he wished me to die like a chicken (which was totally unnecessary) provided his own links, and someone else did same that projected completion time to 2020 as far back as 2013.
Even onom has moved on from the date completion brouhaha!

But since you want to nitpick, even the Kachikwu and Yemi or Dangote never said it would be ready by JAN 2019, which was what he said and I quote..."Earlier, they said it would be ready by NOW"!!