olatade:
we need many more dangotes in this country

And you think government will want more dangotes? Do you think he's the only one that can do all these businesses he is sponsored to monoplise?

udoka2013:
We are watching. Dangote this, Dangote that. I am beginning to understand that, there are some hiden facts concerning this company. Because of this company the border was opened recently. The fuel price was increased because of their refinery. Cement was meant to favour them over their competitors. Foreign exchange favours them. Now again, central bank governor visits them with a gigantic grant. And many more. Other companies should enjoy the same favour as Dangote. That is my stand.

As regards cement, other complanies got the same favour as Dangote. Lafarge, Ibeto, Bua et al.

Plus a working refinery in Nigeria means less money and scarce dollars spent on importing the refined stuff like petrol

Also the reason why there aren't more refineries added to the ten or more refineries under construction is that you Nigerians want government to keep on controlling the price of fuel which means anyone setting up a refinery will end up running it at a loss. That's the main reason why NNPC refineries are down.

9jaRealist:


Why would assume it would be a “cheap rate” because it’s sold in Naira?
It would still be sold at the Naira equivalent of the current international crude prices.

Nonetheless, suffice it to point out that the Naira is actually the ONLY LEGAL TENDER OF NIGERIA. As the CBN itself constantly warns airlines, hotels and other businesses, it is actually ILLEGAL to charge for goods and services IN NIGERIA in any currency other than the Naira (although we all know that Lagos landlords and some other service providers do so under-the-table all the time). Crude oil produced in Nigeria and sold in Nigeria should logically be priced in Naira.
>

The Naira officially is the legal tender in Nigeria, but in reality some businesses run on dollars, oil is run on over 60% dollar, some real estate and schools in Lagos run on 100% dollars.

QuotaSystem:
Dangote's refinery will definitely be a game changer for the Nigerian economy.

What a genius strategy. Imagine a scenario where other African countries would be looking for Nigerian Naira in order to purchase Nigerian Petroleum Products. It would increase the organic demand for our currency thereby boosting its value significantly.



This does not make sense. There is no way Dangotes petrol would be more expensive because not only has the issue of landing cost been eliminated since we're no longer importing, but the market has also been deregulated (which is why we suffer price hikes whenever price of crude or USD rises).

Did Dangote cement become a game changer. We are buying cement at ridiculous high price now but they said we are now self sufficient in cement production. Dangote monopoly may not even be better than Government run companies in the long run in terms of it's effect on ordinary Nigerians

MISSCONGENIALITY:
And you think government will want more dangotes? Do you think he's the only one that can do all these businesses he is sponsored to monoplise?

Dangote is hardly monopolizing the cement industry with bua, lafarge, ibeto around.

Also there are at least ten other refineries ujder construction and several other licences for refineries issued

The problem is in the name of subsidy prices for petrol are kept too low for anyone wishing to set up refinery to refine at a profit. ( even some of the refineries coming up eg BUA refinery in Imo are refining everything but petrol because petrol is subsidized while diesel and kerosene and so on aren't)

olatade:
we need many more dangotes in this country

Oga there are more dangotes but Dangote and fg are will kill brutally any one of them that raises up his head

Ferdinandu:

Did Dangote cement become a game changer. We are buying cement at ridiculous high price now but they said we are now self sufficient in cement production. Dangote monopoly may not even be better than Government run companies in the long run in terms of it's effect on ordinary Nigerians

Cement costs high in Nigeria because

1. Bad power supply .

2. Bad road transport and lack of security

3. No railways which means higher teansport costs


4. Fall in Naira due to fall in forex to buffer it

Igboarecriminal:
Fantastic news indeed. There will be no need for forex conversion any longer. Now he can export to other African countries and bring in the forex.
That is in addition to the savings to be made from discontinuance of fuel importation. Fuel import was the number 1 forex guzzler.

Watch how IPOB terrorist and some brown roof republic will Insult Dangote because he is muslim from North. They will tell us how lamidi cownu loaned money to Dangote's ancestors.

Mods this account name is offensive

Mukina2 seun dominique OAM4J

rawtouch:


we will hold you to your words

Hold who? Are you from France? Which word lol... OK, welcome to Nigeria

QuotaSystem:
Dangote's refinery will definitely be a game changer for the Nigerian economy.

What a genius strategy. Imagine a scenario where other African countries would be looking for Nigerian Naira in order to purchase Nigerian Petroleum Products. It would increase the organic demand for our currency thereby boosting its value significantly.





This does not make sense. There is no way Dangotes petrol would be more expensive because not only has the issue of landing cost been eliminated since we're no longer importing, but the market has also been deregulated (which is why we suffer price hikes whenever price of crude or USD rises).

You're right about elimination of subsidy which will save us significant amounts of money, but even greater benefits would come from saving millions of USD daily that would have been wasted to import refined petrol: further boosting our foreign reserves and the value of the Naira. The multiplier benefits from job creation and development of allied industries to support the refinery and petrochemical plant are better imagined.

Finally, the disgraceful economic anomaly wherein the 6th largest oil producer in the world is one of the biggest importers of petrol from less endowed countries, and continuously suffers whenever crude prices rise instead of enjoying the largesse like fellow oil producers, will finally come to an end thanks to Dangote's refinery. I wish him the best and I'm excited for Nigeria.

God bless you and it's not going to be only dangote but all the refineries. I and someone still talked on these issue onbthese forum, when he said he doesnt trust d goverment on which currency, crude will be sold and i told him i pray it's in naira.
Selling in dollars within nigeria will finally kill the economy and fuel willl still be expensive cos of d exchange rate. Let the game begin, these the time nigerians will enjoy and buy pms at lower rate even dpk and Ago will go down too. Very zine decision from the goverment.

GboyegaD:
Hmmm....when will they start selling gas to the Gencos and Discos in Naira?

Gas companies dont want to sell to Gencos in naira

Plus Discos due to not being allowed to charge cost reflective tarrifs in the power sector have a liquidity issue which already makes it difficult for them to pay for power

Emary:
So the plan is to sell this man our crude at cheap rates, only for him to resell the refined products to us at even higher rates than importers currently do? Real monopoly. Well, at least after this, we should hear no more about subsidy.

don't read with your privates. read with your brains.

TheWrita:

You are really QUOTA SYSTEM!
A complete sheep

Indeed I am and this discourse is clearly above your pay-grade.

Learn to contribute meaningfully next time.

Swerve.

Emary:
So the plan is to sell this man our crude at cheap rates, only for him to resell the refined products to us at even higher rates than importers currently do? Real monopoly. Well, at least after this, we should hear no more about subsidy.

Importers importing fuel into Nigeria have always sold at a loss because of government mandated price controls .

Government tries to cover their losses by paying them a subsidy

If not, fuel would have been costing 200 naira since 2014.

Keemsleek005:


God bless you and it's not going to be only dangote but all the refineries. I and someone still talked on these issue onbthese forum, when he said he doesnt trust d goverment on which currency, crude will be sold and i told him i pray it's in naira.
Selling in dollars within nigeria will finally kill the economy and fuel willl still be expensive cos of d exchange rate. Let the game begin, these the time nigerians will enjoy and buy pms at lower rate even dpk and Ago will go down too. Very zine decision from the goverment.

Indeed you're right on the money.

God bless you too dear compatriot.

Igboarecriminal:
Fantastic news indeed. There will be no need for forex conversion any longer. Now he can export to other African countries and bring in the forex.
That is in addition to the savings to be made from discontinuance of fuel importation. Fuel import was the number 1 forex guzzler.

Watch how IPOB terrorist and some brown roof republic will Insult Dangote because he is muslim from North. They will tell us how lamidi cownu loaned money to Dangote's ancestors.

Are you well at all?

waiting for the fuel price to skyrocket just like the way he did to cement and any other goods that he venture into, only a fool will believe that dangote will subsidy fuel price once he start selling.

Siberia01:

Mr. monopoly on the beats again
infact every Nigerian girl should be married off to dangote

cashinnaira:
Just like Cement

Refinery: Government-owned refineries, BUA, Waltersmith, Edo, Orient, etc.
Cement: BUA, Ibeto, LaFarge (the world’s BIGGEST cement producer - has been in Nigeria since the 1950s/60s)
Sugar: BUA, Flour Mills (Golden Penny), etc.
Tomato Paste: GB Foods (in more than 50 countries worldwide); Tomato Jos, Ericso, etc.

Abegi where is the “monopoly”?!
>

But they sell to the west in dollars..

arsenal33:
other private refineries are coming up you ignoramus

you mean after dangote have skyrocket the fuel price finish? we know how it work you fool.

I'm happy with this development!

Godarz:
Good idea

But if you want a better idea remove subsides. Allow Dangote to charge the prices he wants

So that there is enough profit to keep the refinery running welll

Subsidies have been removed (allegedly).
Dangote will buy crude oil and sell products at market prices.
>

Thelife:

you mean after dangote have skyrocket the fuel price finish? we know how it work you fool.

If that is the case, then it’s even BETTER for those other refiners...
They can simply sell their own products cheaper and cannibalize Dangote’s market share.
>

chatinent:


The plan is to sell to themselves at cheap rates so they can resell to us, and export at a good rate.


The name Dangote is a haven for all political fraud.


They make up Dangote. Dangote is just a name.

You and the guy you quoted are very slow. Will Dangote sell to Nigerians in Naira or dollars? What’s the point selling crude to Dangote in dollar when he will be selling to Nigerians in Naira? How do we conserve scarce foreign exchange and improve the position of the naira if NNPC is to sell to him in dollars?

It is also important you guys know that selling crude to Dangote refinery in Naira doesn’t mean selling to him cheap. He will buy at the naira equivalent of the price of crude oil at international market.

BabaOwen:
What stopped rich men from your state from building this refinery all this while?

It is this division of state that has kept your state at pauper level.
You limit your reasoning to the boundary of your state. See yourself first as a Nigerian and let your argument be in the defense of Nigerians.

Does it Mean that Nigerian Government cant build a 10 billion Dollar refinery?

QuotaSystem:
Dangote's refinery will definitely be a game changer for the Nigerian economy.

What a genius strategy. Imagine a scenario where other African countries would be looking for Nigerian Naira in order to purchase Nigerian Petroleum Products. It would increase the organic demand for our currency thereby boosting its value significantly.



This does not make sense. There is no way Dangotes petrol would be more expensive because not only has the issue of landing cost been eliminated since we're no longer importing, but the market has also been deregulated (which is why we suffer price hikes whenever price of crude or USD rises).

You're right about elimination of subsidy which will save us significant amounts of money, but even greater benefits would come from saving millions of USD daily that would have been wasted to import refined petrol (a whopping 41% of our forex saved) : further boosting our foreign reserves and the value of the Naira. The multiplier benefits from job creation and development of allied industries to support the refinery and petrochemical plant are better imagined.

Finally, the disgraceful economic anomaly wherein the 6th largest oil producer in the world is one of the biggest importers of petrol from less endowed countries, and continuously suffers whenever crude prices rise instead of enjoying the largesse like fellow oil producers, will finally come to an end thanks to Dangote's refinery. I wish him the best and I'm excited for Nigeria.

Nigeria has 5 not working refinaries and nobody is saying anything. We all are waiting for that one 1 man. Open your eyes and see that this country will soon be on motgage to Dangote. Also no forget say the 5 not working eats a whopping N10b monthly for maintenance. Na Dangote go soon buy all the 5 of them for N100. E no go better for our leaders

chrisxxx:
This country is truly mortgaged to Dangote. Nigeria needs to carry out her foreign obligation.

Abegi, what “foreign obligation” is that?

That Nigeria should continue importing FOREIGN fuel and supporting FOREIGN jobs?
Or that Nigeria should sell crude produced in Nigeria to a Nigerian company in FOREIGN currency? SMH
>

Godarz:
Good idea

But if you want a better idea remove subsides. Allow Dangote to charge the prices he wants

So that there is enough profit to keep the refinery running welll

Subsidy has been removed already so that’s no longer an issue. However, allowing Dangote to fix prices as he wants should never be allowed. There must still be a price fixing regulation in place. The downstream sector is too critical to be allowed to exist without government regulation. Dangote refinery will be a monopoly once it start production so government must ensure at all times that consumers are protected.

This Dangote just dey chop naija raw

The governor, Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, who visited, Saturday, to inspect the ongoing construction of the Dangote Refinery, Petrochemicals Complex Fertiliser Plant. You should understand that the petrol, Kerosine and oil refining section is yet to be complete o. Don’t expect cheap petrol in 2022

Selling crude to Dangote in Naira, yet GAS is sold to the GENCOs in dollars.