₦airaland Forum

NothingDoMe:
A lot of the crude is stolen at the 1st stage of custody transfer even before it gets to the ships. You go just dey your work station see the line pressure dey go down because boys don hook up dey suck the line.

Dangote refinery cannot help with bunkering. Rather, bunkering will increase because of the drive for more forex.

Note that Nigeria cannot go beyond the OPEX quota in order to control price of oil. Except another country has a shortfall, tapping our proven reserves will be not be useful.

I prefer data driven events
When the kaduna nd Port-Hacourt refineries were working, bunkering was much much less than this

Pipelines already exist for example for Dangote cement for gas power

It should reduce the opportunities for bringing large tanker ships to the shore

The marital bed is undefiled
Marriage should be between virgins if possible
That way the use and dump and materialism would reduce

NothingDoMe:
Excellent points. However you haven't addressed the IOCs need to repatriate their funds.

Except you're saying that the NNPC will be the sole supplier with her 60 or 65% Joint venture share.

Dangote is 650k installed capacity
Nigeria is 3million barrels per day installed capacity but now down to half in actual declared crude due to
Theft.
The stealing of exported crude is possible when you have to load plenty of ships at the same time on the near and far seaside. If the shipping is limited due to internal consumption, that helps reduce bunkering also.

We have Gombe and Kogi proven reserves yet to fully come on stream. These can be piped straight to the refineries just like Kaduna and Port-Hacourt are already connected

Power to your elbow

Collect deposits for all large orders
Invest in security men and cameras
Replace your sister’s phone

In another functional country it should
But ths is Nigeria

NothingDoMe:
Scenario 1: Local production is bought with Naira.

The IOCs don't need Naira, so if you force them to sell in Naira, they will exchange the Naira for USD to take back to their country putting pressure on the Naira.

Scenario 2: Dangote sources for foreign crude.

Foreign operators don't want Naira. So Dangote has to exchange Naira to USD to be able to buy Foreign crude putting pressure on Naira.

Do you know of any Scenario where Naira will appreciate because of Dangote refinery?

Absolutely if done honestly and transparently

Sell Crude in Naira to local refineries
All bought by the NNPC is local currency
Sold to Nigerians in local currency
Sell excess to neighboring countries in USD like we already do for electricity’
Save on FX used to purchase refined products for import
Save on subsidies and eliminate it totally


Most of the subsides are being converted to USD

You eliminate 2 sources of FX leakage and gain a new one

The byproduct of refining petrochemicals can produce tar for road construction, chemicals, rubber etc. All these are generally imported. We can eliminate that leakage too

These should naturally strengthen the naira

If Nigeria was a regular country I’ll start buying naira right now. But it is not

Tinubu is known for taxes and little to show for it

If Dangote is working against Nigerians may he fail. Amen.

How many times have you addressed the Fulani banditary?

You can’t have a nuclear plant with a zero maintenance culture mentality



You’ll create wastelands and destroy the country

It’s a Shame

How many times?

We are about to begin local production and consumption, the dollar is supposed to become weaker but trust rent takers and wickedness

They’re increasing prices


That means automatic inflation which will in turn devalue the naira

Otedola calling others oil canals when he was investigated by the National Assembly for over-inflated subsidy payments made to his business

Tinubu and Buhari
Giving Nigeria so little and their administration stealing so so much

NNPC refineries and other private ones should come online to regulate prices

Tinubu lacks ideas
Taxation with no service delivery

It’s a shame

I hope agents and lawyers will listen

You go pay rent 1million and pay charges and taxes of nearly 40%

Deal with him already

Arse kissing
Stop already

To himself?

Make fuel available and affordable

Tinubu is playing with fire

Tinubu really wants to be overthrown
Basic things he can’t provide for Nigeria
Yet the country has never spent this much money on fuel subsidy

You have to charge all Nigerians be that

Mario should leave
His people don’t want him
He rigged the election just like Tinubu

She outlived her husband and two sons

Story
Tinubu’s family, Gbajabiamila and the ambitious folks around him won’t let Shettima shine

Hadi should be in jail

New subsidy stealing begins