‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation - Business (3)

‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation - Business (3) - Nairaland

Nairaland Forum › Nairaland General › Business › ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation (34031 Views)

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Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by StrikeBack(m): 12:59pm On Feb 04, 2019

Bigprick9inches:
What happened to the hp envy? Was it stolen? Or wwas it burnt? The way some of you post here is annoying

it's up for sale..135k... location Ikeja

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by StrikeBack(m): 12:59pm On Feb 04, 2019

tribalistseun:
how much for the spoon?

140k

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by frowland(m): 1:00pm On Feb 04, 2019

Such a shame that we import Petroleum product to be honest.

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by StrikeBack(m): 1:00pm On Feb 04, 2019

olaoreawofele:
Are you selling it? Price?

yes 140k slightly negotiable.
Location Ikeja

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by gabicon: 1:00pm On Feb 04, 2019

Only a lunatic will expect dangote to sell at regulated prices, the man is a business man with a singular aim of making profit. If our market does not favour him he will switch to other markets. Secondly if Nigeria buys dangote fuel it will be way cheaper than from any other countries because of zero international fright cost. By 2020 I foresee the total deregulation of the down stream sector.

3 Likes

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by WeirdBoy: 1:02pm On Feb 04, 2019

StrikeBack:
Hp envy 360 core i5- 5200U
8gb ram 500gb
Touch screen
Keyboard light
3 hours battery life
2 hours plus for media
Screen size 15.6
Windows 10 Home
Clean ...
2.20GHZ speed

How much

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by tribalistseun: 1:02pm On Feb 04, 2019

StrikeBack:
140k

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by theoldpretender(m): 1:02pm On Feb 04, 2019

banio:
Deregulation is fine. But we must also pay international salary. We shouldn't sell fuel at international price and pay citizens #19K, from where will they get money to buy the fuel. Or we want them to steal

1.We should stop this myth that every working Nigerian is earning N19000 or 30000 monthly. That's not true.

2.Thing is, the money to pay for subsidy is not there again. We sell crude oil at $60 per barrel....while we need it at $140 per barrel to run a fully functioning economy. We also don't have the cash to keep on paying high salaries.

3.If we deregulate...we save billions of naira...which might even be enough to raise salaries. Then there are the extra jobs and extra investment that would flow in as a result.

4.We have to deregulate. Or we keep on pouring money into the corrupt subsidy system.

2 Likes

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by connkg(m): 1:03pm On Feb 04, 2019

@fyneguy
Isn't that the same as "buyback" in NNPC terminology? Same as selling the crude for refined product. It will not be MUCH cheaper than refined products even when it eliminates the transport cost.

This move has been assumed by many, including myself. Building in export-facilitated Lagos and piping feedstock all the way from Bayelsa? The export market was the design.

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by 989900: 1:03pm On Feb 04, 2019

fyneguy:
It is simple.

We give him crude oil and pay refining cost. Cost of shipping is eliminated! It will still be much cheaper than imported products.

We can even pay him the refining cost with some crude oil.

While conserving Forex that would have been used for importation of refined products, and if we do refine surplus, we can earn extra Forex from that too.

It won't be a bad idea if the modalities are well thought out and implemented transparently.

Whoever wins next week is getting a soft landing (economically).

1 Like

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by StrikeBack(m): 1:03pm On Feb 04, 2019

WeirdBoy:
How much

140k but we can still negotiate

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by GenSpecifics: 1:05pm On Feb 04, 2019

[s]

ojuu4u:
His net worth dropped owing to exchange rate which affected Naira badly , then CBN refused to defend Dollar, they floated Naira and that was why all prices in Nigeria skyrocket

In real sense Dangote richer than how it was in 2016 but dropped because of devalued Nigeria's currency

I ve Never seen a single person in buhari cabinet who is capable of running economy of Nigeria better,

[/s]

Nonsense.

Dangote's net worth is largely due to his shareholdings and not how many worthless naiara he has in the bank.

By the way, who appointed you afonja as Dangote's financial spokesman?

1 Like

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Maket: 1:09pm On Feb 04, 2019

OmoManU:
What's the implication of this from all angles, please the good politics neutral economists here should come and explain this to us in details

It means Dangote is not building a father Christmas refinery for Nigeria. Nigeria still need to get it the price that is obtainable in the world market. The difference is that since this refinery is closer to us, it will reduced in cost of transportation.

2 Likes

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Tonimanze(m): 1:14pm On Feb 04, 2019

That's right. Dangote is a business outfit and not a charity organization.
Meanwhile if you want to make good money online check my signature.

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by ojuu4u(m): 1:15pm On Feb 04, 2019*

GenSpecifics:
[s][/s]

Nonsense.

Dangote's net worth is largely due to his shareholdings and not how many worthless naiara he has in the bank.

By the way, who appointed you afonja as Dangote's financial spokesman?

Do you even know what they call shareholding? Do you know you real business has to transacted before your stakes can be increased or decreased as a shareholder? Do you know Forbes measure net worth in Dollar and not in Naira?

Any business person in Forbes list that trading in local currency, *when his/her...... 100 Naira : 1dollar. Oga, what will happen to his/her net worth when 350 Naira now equal to same 1 dollar. (net worth still measures in Dollar)

Meanwhile net worth is not "only measure in equity (shareholding) but plus cash and fixed assets

I analysis and simplify it because of ur IQ sir

2 Likes

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Nobody: 1:17pm On Feb 04, 2019

OmoManU:
What's the implication of this from all angles, please the good politics neutral economists here should come and explain this to us in details

The implication is that Dangote will sell at normal rate, as people would expect him to sell lower than the imported prices since there won't be transportation cost.

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Olawalesmarter(m): 1:18pm On Feb 04, 2019

Some people are hating on Dangote and most of them are Igbos, i don't know why they are so full of hatred for anything that doesn't spell Igbo, If Dangote was a Igbo man you will see them hailing him

1 Like 1 Share

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by FITTEDPROF(m): 1:18pm On Feb 04, 2019

StrikeBack:
Hp envy 360 core i5- 5200U
8gb ram 500gb
Touch screen
Keyboard light
3 hours battery life
2 hours plus for media
Screen size 15.6
Windows 10 Home
Clean ...
2.20GHZ speed

How much

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Funkybabee(f): 1:19pm On Feb 04, 2019

I fear for Nigeria, I hope it wont affects us like cement issues that federal government can't control again .. oga oooo

what a Nation

5 Likes

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Olawalesmarter(m): 1:21pm On Feb 04, 2019

Dangote Invested heavily on that Refinery and you expect his Networth not to drop ?

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Proudlyngwa(m): 1:21pm On Feb 04, 2019

santopelele:
this man (dangote) will buy nigeria and everything (including u) in this shithole.
if dangote can build 1 standard refinery, what stops the federal govt frm building 10 of it.
shame to our politicians

Because Government has no business running a business, and I wonder who are those that liked your stupid write up.

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Olawalesmarter(m): 1:22pm On Feb 04, 2019

tzoracle:
exactly..

But if his main aim is profit making as a business man why is he being part funded by the FG

He borrowed money from CBN he would repay it with interest

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by otokx(m): 1:23pm On Feb 04, 2019

unbelievable

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by StrikeBack(m): 1:26pm On Feb 04, 2019

FITTEDPROF:
How much

140k slightly negotiable

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Olawalesmarter(m): 1:29pm On Feb 04, 2019

GenSpecifics:
[s][/s]

I am sure you will also applaud him when he gets at least 50% discount on crude from the FG.

why are you hating on this man for no reason? He is a Business man and he will use every advantage to make profits, and it is also the Federal Government duty to make the Market Favourable for Private sector. What's really wrong with Nigerians ? you always think everything have an agenda, if he was a foreign investor Nigerians would still complain

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Olawalesmarter(m): 1:33pm On Feb 04, 2019

chrisbaxtian:
keep quiet my friend do you think others did not try? do you know the level politics going on behind the scenes and how a concerted effort is being made to ensure wealth is concentrated in a few hands.

What if this is pure Business? and there is truly no one else that show up? Nigerians thinking is negative, every progress is not always enough in Nigeria. I'm sure if there was truly anyone they would have came out to debunked CBN Claim that no else is showing up

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Olawalesmarter(m): 1:39pm On Feb 04, 2019

Most of the people hating Dangote are Igbo, because Dangote is an Hausa Man they believe every Hausa man Properties belong to them and that Hausa is stealing it from them. Dangote became the Richest man in Africa without Oil business but they still accuse him of several things, when he now venture into oil business they will never give him peace, Any wealthy Nigerians that is not from their tribe stole the wealth from them and cheat them Stupid people

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by stainlink(m): 1:43pm On Feb 04, 2019

StrikeBack:
Hp envy 360 core i5- 5200U
8gb ram 500gb
Touch screen
Keyboard light
3 hours battery life
2 hours plus for media
Screen size 15.6
Windows 10 Home
Clean ...
2.20GHZ speed

How much

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Ofemmanu1: 1:48pm On Feb 04, 2019

StrikeBack:
Hp envy 360 core i5- 5200U 8gb ram 500gb Touch screen Keyboard light 3 hours battery life 2 hours plus for media Screen size 15.6 Windows 10 Home Clean ... 2.20GHZ speed

best price?!

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by Parada: 1:52pm On Feb 04, 2019

The shame is on only PDP that failed to do so in 16 years plus Buhari was the minister of petroleum when one of the old refinery was commissioned. Blame the PDP for this your woes and stop generalizing the failure of PDP. Let the world know the PDP is the devil but bigots like yourself will eternally refuse to speak up because of the shame of supporting the same failure all over again.

santopelele:
this man (dangote) will buy nigeria and everything (including u) in this shithole.
if dangote can build 1 standard refinery, what stops the federal govt frm building 10 of it.
shame to our politicians

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by obailala(m): 1:53pm On Feb 04, 2019

eyeview:
This is why am disappointed when ignorant people mouth that the coming on stream of Dangote refinery will bring down the cost of pms. He is a shrewd and exploitative business man, it may even sell higher than 145. The cement sector that was almost handed to him, how far? Instead we now have cement from N850 to N2300 per bag.
The secret is to completely deregulate these sectors to allow multiple competition, including imported ones. No advantage to any.
Imagine dangote locally refining but already saying he will sell at export price

Dangote will not sell petrol less than N200. When his refinery comes fully on stream, and when Nigeria starts producing enough to meet local demand, the govt will totally halt the importation of petroleum products, and then fully deregulate the downstream sector, thereby giving Dangote and his tiny competitors (i.e. owners of the other tiny modular refineries) full monopoly. When thay time comes, Dangote will sell petrol for not less than N200, and Nigerians will have zero choice but to buy it like that. This isn't just an empty prophecy, its a logic based prediction.

At the end though, the stoppage of fuel imports would give Nigeria's economy a turnaround; that's the only bright side, which of course is really bright.

4 Likes

Re: ‘Dangote Refinery’ll Not Sell Petrol At Regulated Price’- The Nation by OAUTemitayo: 1:54pm On Feb 04, 2019

Stephendeals:

So the government is saying a Nation of over 150million have to wait for a private individual to set up his refinery for the nation to move forward..

Is this the promise that PMB made in 2015?

Incorruptible PMB cum (Petroleum Minister) cant revive a refinery in 3 and half years to full functionality... omashe oo
"On the Oil and Gas Industry: I will: 1. Revive and reactivate our minimally performing Refineries to optimum capacity;"

Read more at: https://www.vanguardngr.com/2015/05/what-buhari-promised-nigerians/

How Nigerians are rooting for someone who clearly failed woefully on what he promised to deliver is incredible- Many Nigerians really need mental evaluation

Let's say we should not root for somebody that can't revive refineries in 3 years, don't you think it amounts to inherited foolishness and arrant stupidity to tell us to vote in a party that cannot revive same refineries in 16 years?

1 Like

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