₦airaland Forum

Why are not planning to refine their own. You should colonize Ghana officially

samorobo:
Rvp pls read carefully and ooze those salty tears



Dangote Refinery will cut Ghana’s fuel imports and reduce pump price, says NPA Ghana Chief Executive

- The completion of the refinery is expected to have a huge impact on Ghana’s downstream sector, which is currently deregulated.

- Ghana is presently facing the challenge of a continuous rise in the price of petroleum products due to high importation costs and a deregulated downstream industry.

The West African nation, which has been a net exporter of crude oil since 2010, is highly vulnerable to oil price shocks because it imports a significant share of petroleum products consumed in the country, mainly from Europe (Rotterdam). As a result, their economy is subject to volatility in international markets for crude and petroleum products, as seen recently with the Russia-Ukraine conflict.

Things are, however, expected to change as the Chief Executive Officer of the National Petroleum Authority (NPA) of Ghana, Mustapha Abdul-Hamid, believes the coming onstream of the Dangote Petroleum Refinery is expected to transform the Ghanaian downstream sector.

According to him, the coming onstream of the 650,000 barrels-per-day (bpd) Nigerian refinery will transform the Ghanaian downstream sector through the reduction in the cost of importation of petroleum products into Ghana.

Speaking at the 16th Oil Trading and Logistics Expo in Lagos, Abdul-Hamid said the completion of the Dangote Petroleum Refinery project would be a breakthrough for the West African region, which has for a long time depended on the importation of petroleum products.

“Right now, Ghana’s downstream industry is completely deregulated, and there is no petrol subsidy in Ghana. For a deregulated market where the importers recover their costs fully, importing from Nigeria will certainly be more cost-effective and cheaper than importing from Rotterdam in the Netherlands, where we get the bulk of our fuel in Ghana,” he said.

“As we all know, the price builds up for a litre of fuel will include the cost of shipment, transportation, insurance, and others, but if we are importing from Nigeria into Ghana, this will bring down the cost of fuel in our country,” he added.....

https://africa.businessinsider.com/local/markets/dangote-refinery-will-cut-ghanas-fuel-imports-and-reduce-pump-price/6b7xl8f

Lamu deep sea port - 3 berths already - is deepest and biggest. And it was not built by Chinese loan - but kenya money.

PROVERBZ:
Out Kenyans brothers please join us to celebrate as we launch the deepest sea port in sub Saharan Africa(the lekki deep sea port)

And also join us to pray that the other one which is taunted to be the largest and deepest port in the whole Africa( the badagry deep seaport.)
Which just got approval for construction to start would also be a success like this.
My Naija brother 3 or 4 years ago we were posting renders of ambitious projects and being laughed at. Today Nigeria is about to become the first black industrialised nation on earth.

All those audacious projects are now being commissioned.

Just40:
I told you that a long time ago.... Ghana has already received that confidence just by the mere news break of talks with IMF.

Ghana debt is within manageable levels and the yearly obligations are also within Ghana ability to pay It will be 2.8 billion next year which is peanuts money for Ghana.

What we need to do most is to solve our toxic politics that seeks to make ruling Govt suffer as punishment for their bad deeds.
IMF has never been needed by Ghana.

Kenya needs the IMF, without them your country will be a venezuela in months. You have a huge 12 billion obligation because of how your debt ballooned. You don't have the money to pay and don't have the confidence of your creditors after you restructured for years and decided to default.

Until you have a DEAL with imf I will be here to watch madness...as you descend into it...cedis free fall continues.. inflation of now must approaching 150 percent

obaaderemi:
Remove 5 Indians in little India you are dead.

We don't have any indians in Kenya.There are in Nigeria running industries including all dangotes ones.We have 5th generation Kenya Asians..a tribe in Kenya.One of them owns you largest steel/aluminium mill.. Towers Aluminum. Kenya-Indians are in 5th generation, speak Swahili, are in parliament and have little connection with India.Now Nigeria has million indian indian from India...they keep moving in thousands to come weld and name it dangotes n their own factories

obaaderemi:
Indeed.

Remove 10 dangotes in Zooland...you got nothing left

Shaytun:
Hotels are closing across Kenya.

Economic Fallout

One hotel shut down an old structure that is now in busy downtown doesn't mean hotel industry is shutting down or the economy.That Hilton should be turned into office blocks.

You don't understand the importance of imf deal.Its not about the money.Imf gives very little money.Its stamp of approval and confidence that deal with imf gives.This because everyone knows imf will straighten the economy because they are coming in to manage things.Their technical input and micromanagent is signal to creditors and everyone that country is on the mend . without it Ghana can't n won't manage..3 billion is small money because Ghana debt has ballooned with interests n all that. Whatever you do nail the imf deal...you need it otherwise you're gone .

Just40:
Ghana only started engagement with IMF which is even backroom engagement just a month ago

Ghana already has 3 billion dollars sitting in the sinking fund.. No one with money in the bank get desperate for a peanut loan.

Ghana just raise 800 million from African development bank and we just raised 2 billion dollars for Ghana cocoa board..

Like I said, we ain't Kenya that is bankrupt... Face your Sri Lanka situation alone.
Comparing yourself to Ghana will only make more Kenyans go hungry.... Ghana was flexing with it bank balance but Kenya couldn't do same because you're a poor bankrupt country that needed to be rushed to the IMF after countless debt restructuring that got your best pal China pissed.


This is Ghana next finance minister for the opposition party talking.

AfriqueDuZuid:
200 000 you say

international school... independent or private schools in Kenya are everywhere.. almost half kids are there

Now see who is laughing now. You've been begging IMF for a year plus. They are saying - Ghana - we dont feel you. Lebanon and Srilanka.

Ghana is desperate for 3 billion - they'd have float eurobond by now ) . Imf say float 10 or 100B centenary bond we see . Eurobond are saying come baby come..50% interest rate...before we talk principal.

Now raising even 100m dollars is hard

Just40:
SA had better finances and didn't even need it .

Kenya on the other hand had no option...

Ghana realized it didn't need debt freezing so we didn't sign on to it and we didn't need IMF as well hence we did sign on to it last year when Kenya was on stretcher being carried there despite the good will Ghana did for your country.

Even south africa went there - IMF due to corona - had opened their warm embrace - no question - come all. It was simple - Kenya - problem - covid - admitted. South Africa - covid-19 - admitted. Nigeria - covid-19 admitted. No questions. Covid-19. Ghana - mmhh - imf we have beef and pride..

You refused. I dont think you have the independence to decide shiet if you cant repay debt. Youre a colony of debt.

Just40:
You run there because you had no option ... No one would loan you money, your export value couldn't be raise fast enough and you were defaulting on your debt obligations.

That was your death bed..

Ghana can decide today that it doesn't need an IMF program and it will still be able to pay it debt as well as keep financing it other obligations. A liquidity issues is not the same as Kenya debt crisis .

Nigeria went to Imf with kenya. They walked themselves in, and were given medication, every three months, they see a doctor, and go home. Ghana refused. They want to go in and come out. IMF are telling them you go in and stay there - in the ICU - until we are sure - or go straight to the morgue.

samorobo:
Same sh1t different smell. That’s all I see here.
Splitting hairs doesn’t make your zoo any better .
It’s only a matter of time until it’s caught up with you.

We walked ourselves to IMF - you're going via ambulance - and they are refusing admission. Big difference. We visit hospital once in a while - quick check on our vitals - the nurse - says go home. Ghana, your lying-in casualty half-dead and they won't admit you - until you pay in dollars serious deposit. They are almost sure you will die soon...for eurobond is increasingly choking any life out of you.

Just40:
the IMF is an expert enough...
They are administering a bitter pill to your country...

By the time they are done, more Kenyans will be multidimensional poor with a huge unemployment issue on your hand.

Among the ignorant

samorobo:
Wealth is never associated with the name Kenya,go ask around.
Famine,drought,aid,poverty, slum, safari,running are the things associated with Kenya. Don’t flatter yourself kid.

Quote one expert.

Just40:


Please don't comment on Ghana politics you simply don't have an idea... NAna cannot run for elections again.

Your country is just a bankrupt man on his death bed being sustained by IMF....
Your country will not be able to buy fuel in 2023 if from all indication, your wage bill will be forced downwards by the IMF.

That means more suffering and poverty for the ordinary kenyan

we support drought victims. I cut my teeth in such programmes. Do the same for annual flooding. They dont deserve our sneers -
One of the most outstanding book I ever read is called HUNGER - by some norwegian.

I would recommend you read it

samorobo:
Say something else pained, and stop getting personal. You know absolutely nothing about me. Face your desperation elsewhere,as I continue to drill you with Kenya’s harsh reality. Your outbursts are a delight to watch - heck I could watch you all day.

Anyways I also want the best for Kenyans and that’s why I am calling the evil of your govt. they’ve relegated 18m Kenyans to hot dying starvation for forty years and here you are worried about a few people displaced by flood. A natural disaster that started about 2months ago or even less. Something must be wrong with your dirty head,look In the mirror oga. I will not give you that opportunity to gloat whilst your houses is caught up in a deeper flame than mine.

You will wish your problem was starving after drought. The problem will end when rains come. Your problems will take min 10yrs...max forever. Ask Zim, Argentina, and other hyperinflation victims.

I rather starve due to drought than go through hyperinflation - it crazy - it long lasting - it debilitating

Just40:
Ghana is not the one with an unprecedented 18 million people starving ..... Ghana's economic growth creates enough buffer for all Ghanaians to benefit so an increase in inflation have little effect. It creates income growth for the largest percentage of the population.


The only Africans crying at the moment are Kenyans who can't find food or have been priced out of the market

Replace kenya with Nigeria.
Subsidies came coz Uhuru was desperate to get his guy elected.
Just like Nana is desperate for re-election
We never had subsidies before of anything.
Ruto has deleted them...except fertilizer,
How can kenya without minerals afford it

Just40:
Kenyans mind a lot because the Kenyan economy did not create a trickle down effect for growth that give a buffer to the ordinary Kenyans to benefit. So the only way they could feel something from your economic growth was through subsides.

You guys became drunk on it and it has caused a lot of pain for the ordinary Kenyan when IMF force the removal of most of them.

Madcow take your meds. Where is kenya here. Ghana has risen to 134 percent percent. Nigeria the big zoo is up there 35 percent. But 135 percent.

SOUTH AFRICA also crying real tears

Ohoo they hate us

And this was 10 days ago.

Now hyperinflation - 200 percent.

Next cameras from CNN and Reuters will descend to witness the economic massacre

Just40:
I know you don't like facts but those are the realities you Kenyans face.... Next year will be more difficult for Kenya.

Pray you don't end up with empty shelves as the IMF force you guys to strip yourself.... Ordinary Kenyans will suffer more.

The Ghanaian govt do not run subsides on anything

Only because Uhuru the drunkard messed up - with Nigeria type fuel subsidy. Kenyans dont mind paying for anything for any prices as long as it available.

This week I welcomed some Zimbabwe guy - to europe - from Nairobi - he swear he never saw people who have money like kenyans - and you cant explain what they do. Kenya has 200,000 kids in international schools - higher than any in Africa including south africa.

Kenyans party monday to monday and Nigerian come & cant only afford one room of 100 dollars for 10 men - they sleep in turn -

Just40:
they always like to talk about things they don't understand

They think we have forgotten how desperately they had to join cues for days just to get fuel to buy as if they were the next venezuela.

Pure madness. Trash

Just40:
Ghana has a whole room for 20 people not just leg room. Ghana is not facing a debt problem because Ghana is highly solvent
What is happening is Ghana bureaucratic problem causing a liquidity problem. Something that can easily be solved by moving money from Ghana stabilization fund into Ghana sinking fund and getting approval to to use the money. Doing this will mean no IMF but govt does not have the numbers in parliament to make those changes.


Kenya is in a serious full blown crisis and that is why you ended up at the IMF far back in 2021. Ghana has not gotten to that problem yet. IMF has caused serious inflation issues for ordinary Kenyans as prices of most thing that used to be subsidized by your govt have had to double in price.
We saw the shortages of basic stuff in your country such that if not for the IMF, you wouldn't have been able to purchase fuel or even grains for your economy.
That is how bad things got

So it just 20% foreign aid Population wise it estimation; Rwand should 12M; Lagos depending on who count; anything.
Point is Lagos receives lots of Oil money from federal gov.
So stop the dicing
And realize Kagame running half of Lagos is a hero...managing large land...with army and embassies with 3billion dollars.
And stop arguing with facts.
You can't win.
They are stubborn

obaaderemi:
Can you see how foolish you are? Rwanda has 14m and a budget of $4b, 20% of which is foreign aid. Is that the kind of country to be taken seriously? Anyway, what did I expect from a little Indian?

https://bti-project.org/en/reports/country-report/RWA


Meanwhile, Lagos is a state in Nigeria with a lot of federal government investment apart from its own budget! Out of Nigeria's federal budget, a sizeable chunk goes to Lagos. So Lagos doing an extra $4bn on its own is something.

Wo, go and face the Ghanaian flogging your ass and leave Lagos matter alone.

I love you mum - and i could be your father or his age mate - I want the best for her - nigeria gov to move there - and help her. Her lifetime investment should not be completely written off. You're already a write off in Lagos working for the useless governor to lie to suffering and smilling Nigeirans.

samorobo:
Lol you must be deeply pained,for you to have involved my mum unprovoked. I must have really struck your nerve within your own reality. It’s so delightful to watch man.

Anyway I don’t live in anambra and I ain’t affected by no flood. Say something else pained soul.


18m Kenyans are starving to death,do something about it abd stop disgracing africa with your dirty begging bowl.

We have leg room - we are in IMF programme - and we are doing well - nobody is expecting kenya to collapse - gov is thinking of doing great stuff - ambitious stuff - not ghana crisis

Keep talking - by Dec - you'll be offline.

Just40:
unfortunately the fundamentals don't look great on your finances hence the default and not even China wants to loan you money at the moment.

Your country has no room to pay the debt it currently holds because wage bill and debt servicing is already 125% of revenue. And unlike Ghana that has raining day funds, you guys even cutting down on expenditure will still not be enough.

Lagos is 20 million country - twice bigger than Rwanda.
What is 4 billion - when you can only do 70 percent - 3 billion. That is what 10M Rwanda does. And you deride kagame. And he isnt 100% urban almost like Lagos.
Nigeria states are reeling in debt because of ambitious and unrealistic budgetting.
Zero budgetting require very serious discipline - something alien in your country.
What point in issueing tenders and contracts - then revenue come - and fall short.
Pending bills rise - you kill people who supply you state govs- and their dreams.
The economy suffers - nobody trust trading with gov - and everything become a Nigeria zoo joke

Solution - gov should never get it more than 5% wrong - 23% wrong is criminally wrong- guesswork.

How do you estimate you will collect 4 billion dollars - then collect 3 billion The 1 billion budgeted expenditure will come from where and who will pay?

Large pending bills, unpaid salaries lasting months, unpaid pension lasting years. Gov with zero credibility

Dead economy.

obaaderemi:
Worry about Kenya. Lagos budget Last year was even bigger than this. So what's more ambitious about this?
There may be a deficit as expected but that can be tackled with the issuance of bonds, loans, FG allocation, more tax collection, etc.

If Kenya is just moving towards zero based budgeting, it is a confirmation of what I said earlier that Nigeria leads Kenya follows. The method was tried and discarded in Nigeria. Bushman from a bush country.

I'd love to see you mother canoe in anambra state as she tries to pick her floating cooking pans. You have already lost 600 people. Focus on flooding in nigeria before you see drought in horn africa...too much water is as bad as lack of water.

samorobo:
This is were we get the 18m from.
For forty years you’ve folded your arms and done absolutely nothing about it. What happened to advanced technology,irrigation,dams and the likes. You have no excuse,you are a failure.
Your govt failed you and that shouldn’t be excused. Say something else.

https://www.youtube.com/watch?v=hugq01VEaoA

Focus on Ghana
Kenya we are very okay. One thing we have never lacked - BRAINS - ask Tanzanian how many times they close their borders for fear of kenya brains.
FUNDAMENTALS ARE AS USUAL GREAT - underlying inflation 5%, base or policy interest rate 8%, headline inflation 9%, currency deprecation 8%,

Our little problems ended when we elected Ruto

Ruto's Chief economist advisor says

https://twitter.com/DavidNdii/status/1585663898371383299
Zero chance. Eurobond Markets are closed but banks are open . We are on course to raise this years $900m external commercial financing target at below 8% and there is no shortage of appetite for more.

Just40:
Eurobond is not responsible for Ghana liquidity problems.

Kenya debt servicing ratio is 70% of revenue and Ghana will be at 55% by year end 2023.
Kenya wage bill already takes 55% of revenue.
The country is not allowed to take on anymore debt due to IMF sanctions and creditors fear of your inability to repay.
Your sorry country does not have any sovereign wealth fund to fall unto.

So you're left hanging

Do you have degree in economics and teach in John Hopkins if you dont; madcow; only Nana take you seriously.

I rather listen to :
Steve Hanke
@steve_hanke
Professor of Applied Economics
@JohnsHopkins
| Senior Fellow
@IndependentInst
|
@NRO
| FX & Commodity Trader | Reagan White House | Views are my own

Just40:
Ghana inflation is 37% which is mostly driven by transportation, fuel and utilities.
With all of that, Ghana manage to have lower food prices in various markets than Kenya... So while A Ghanaian with a higher standard of living is paying less for food, Kenyans with lower standard of living have to spend 1.5 times on food than a Ghanaian will.

These figures I'm comparing are from the retail prices of basic commodities in both countries. Those are the realities on the ground that ordinary Kenyans face.

This explains why a lot of Kenyans go hungry daily

Usual excuses. Last few months it was about getting mobile money tax - came and went. The problem is whatever you do - Eurobond is sinking you. I think IMF is delaying this because soverign default is inevitable and required. They have been playing games for a year now.

Ghana eurobond are now at 41 percent yield rate

Yield Ghana, Republic of 7,75% 21/29
Yield in % (last price) 41.0088
Yield in % (ask) 39.3577
Yield in % (bid) 41.0088
Flat notation n.a.
Accrued interest in % 0.4521

Just40:
Ghana is in a better position than Kenya.

At least we haven't defaulted on any of our debt and neither have we restructured any of them yet... That shows we have enough room to avoid the Kenya situation.

While Mahama is recommending cutting expenditure on key govt policies, the govt will prefer using Sinking Fund inflows for debt servicing. This will be difficult for the govt to have access to because they don't have the numbers in parliament to get it approved.

Kenya food inflation is 9%
That mean if incomes havent risen - people are suffering 9% more.
Ghana is 120%
These figures are from experts - not from you googling around and trying to compare.

Just40:
Yet hyperinflation has dealth a bitter blow to Kenyans than Ghanaians effectively driving more Kenyans into poverty than last year.

Why are food prices more expensive in Kenya than in Ghana?

Do the 45 million poor Kenyans all live in turkana? Or the 18 million starving ones all live in turkana?
Are turkana people not Kenyans?

You've continuously had foolish leaders since independence who have worked hard to make sure Kenyans are poor, instead of giving your issues, you're busy making excuses yearly
Why are Soo many Kenyans starving in this 21st century?

Stupidity as always. Countries including kenya are moving towards ZERO based budgetting - and here is Nigeria with as usual ambitious budget that will never be met.

Last year - Lagos achieved 77 percent of revenues- but now has set even more audacious target -

“Looking at the total Internally Generated Revenue, we have N346bn compared to N451bn, achieving 77 per cent performance; total budget out of an expectation of N880bn, we have spent about N675bn, achieving 77 per cent performance.

obaaderemi:
Lagos is on steroids.
But it can do better....

This is a budget of $4bn(official rate)

Your pedestrian calculation won't help Ghana 120 percent inflation.
You dont compare countries cost of living that way.
Focus on NANA the Big Fool who has sunk your economy
100% plus dollar depreciation.
1 dollar - 14 cedis - The world worst currency tracked by Bloomerg
Shops closed last week
Now they have removed prizes from supermarket;
Meaning hyperinflation setting in.

You indeed can only compare yourself to someone living in semi arid battling drought.

Just40:
even with Ghana 37% inflation, food prices in Ghana are far lower than in Kenya. Make that make sense

What's wrong with your shit hole?


You can't grow much in Ghana without irrigation so your argument does not even hold water.


Nana Addo is far better than your current and past presidents combined. He will never run his economy down for this number of Ghanaians to start starving

Focus Ghana 120% inflation.
Where did you get this 18 million kenyans.
18 million people across horn of Africa - that mean Kenya, Somalia, Ethiopia, etc
Are facing a serious drought.
There is nothing one can do about such a NATURAL disaster...if rain fails for 5yrs...what will Ghana do? - in first year half the country will run to Nigeria - in the 2nd year - the whole country will empty out

Ghana is facing a human disaster called NANA THE BIG FOOL who sunk Ghana economy.

The people facing worst drought in 40yrs in horn of africa - deserve all the help they can get. Just as well as those getting swept by floods in Nigeria. Or Hurricanes. or Tsunamis. Or Earthquakes. THESE ARE NATURAL DISASTERS THAT SWEEP PEOPLE INVESTMENT completely.

How do you compare yourselves with people facing natural disasters?

otherwise many areas of kenya that are not affected by drought are doing fine.

My folks are exporting 20 percent more tea this year.

Just40:
Accra is expensive for it real estate,hotel, restaurant,clubs and other costs of living but not it food
Kenya is starving because you guys basically grow nothing and food is super expensive.
18 million Kenyans do not live in the desert.