aasog1: He sells cement, sells flour, in real estates, has an office in NNPC Abuja's office, he's into oil and gas through Dantata his sibling, formerly owns half of Intercontinental Bank and he's the main reason Akingbola isn't rotting in jail right now, he formulates the nation's agricultural policies and currently got GEJ handling him full power to start selling rice for Nigerians since we spend about a billion on it daily and this greedy Alhaji needs the money. Been one of the so-called cartel, he was the only person who escaped persecution and now he's been given the green light to build a refinery. An AGIP any govt in power guy, and some people think he's a role model. The guy is nothing a crooked corrupt and penny-grubbing don. He sounds like those character in Mario Puzzo's novel. What a useless country. Why not rename the damn thing to Dangoria!

KingPradas: [size=15pt]Another way for the rich to get richer and the poor to get poorer. This guy will monopolise the oil industry. Greedy Man[/size]

clue:
Greedy man?
Do you know how many people this man employs? Can you even begin to imagine the number of families that benefits from that? How many childeren, youths and the elderly who are dependent on his workers across the nation? Dealers, sub contractors, suppliers, farmers, NGO's, academic instituitions, hospitals, communities, SME's, banks and other financial institutions, brokers, even artisans get jobs from dangote staff (and that may be their breakthrough), some of his staff own businesses and employ others!
Greedy man?
Pls have a rethink? Always look at the bigger pic? Who knows, you may even "hammer" through dangote, one way or the other!

ichidodo: learn to read in between lines bro, what kind of a guy would take more than 50percent of his networth to finance a highly volatile venture?

danny301:

And how is that your headache?

oluwadare26: I'm wouldnt be surprise if the refinery is built in one of the Northern state.

0lumide: So this is why they decided "increase" fuel price.

My problem with Dangote is his greed.


All of you singing Dangote's praise are illiterates and know nothing about economics and especially efficiency.

Let's take cement for instance.

Importing cement to Nigeria costs 350 per bag but we pay 1500 per bag manufacturing it in Nigeria.

Now, what this means is that Nigeria can not efficiently produce cement thereby our best choice is to import the commodity because we are wasting scarce resources in producing cement.

But Dangote through his political stooges in government was able to make sure Nigerians can't import cement and can only buy from him and the other guys who share just 10% of cement production in Nigeria.

Now, house prices up, Nigerians will be spending more on something we can't efficiently produce. Money that could have been used by household sector to buy other commodities which will help the respective industries of those commodities grow are been spent on a useless cement.

Dangote should be one of the first people to be killed should Nigeria have a bloody revolution. He is part of the elites destroying this nation!! No idea of economics, he is not patriotic enough to produce what we can efficiently produce instead he is producing what will give him money.

Efficiency is the core reason for pricing and production decision. Nigeria doesn't need a cement industry when the resources could be used to produce commodities we are more efficient in producing.

Dangote is nothing but a Government's baby and he enjoyed the corruption in the country.!!! Buncha thieves!!

jomogbomo:

What Nigeria need is more angel investors, not greedy men who use others to enrich themselves. These people here mentioning Zuckerberg, Gates etc should always remember they got their capital from angel investors and not from years of slaving for a "demigod". BTW, anyone care to explain why he has licenses to be "SOLE" importer of some items in the country?

naptu2:

Actually, the question is, why can't we produce cement efficiently? What are the factors militating against that?

aasog1: He will definitely be adding it to one of his many empires in Lagos or Ogun State. The South West people might be called too timid and too open and accommodating, but this is benefiting them tremendously.

aasog1: He sells cement, sells flour, in real estates, has an office in NNPC Abuja's office, he's into oil and gas through Dantata his sibling, formerly owns half of Intercontinental Bank and he's the main reason Akingbola isn't rotting in jail right now, he formulates the nation's agricultural policies and currently got GEJ handling him full power to start selling rice for Nigerians since we spend about a billion on it daily and this greedy Alhaji needs the money. Been one of the so-called cartel, he was the only person who escaped persecution and now he's been given the green light to build a refinery. An AGIP any govt in power guy, and some people think he's a role model. The guy is nothing a crooked corrupt and penny-grubbing don. He sounds like those character in Mario Puzzo's novel. What a useless country. Why not rename the damn thing to Dangoria!

zizman: Another chapter will this year be opened in the downstream sector of the petroleum industry, when business mogul Alhaji Aliko Dangote kicks off his plan to establish a refinery in the country.

The federal government had, in 2011, granted approval to 19 multinationals for the setting up of private refineries in the country, but none of them has come on stream due to the regulation of the price of fuel in the country.

Though details of where the refinery will be sited and its capacity were yet to be made known, work on the refinery, which will cost $8 billion, will begin this year.

At a breakfast meeting with some senior editors to mark his 57th birthday in Lagos, Alhaji Dangote said work will start on the refinery once his company secured the final approval from the federal government.

While acknowledging the fact that only a mad businessman would consider establishing a refinery in Nigeria under the present uncertain business terrain of subsidising the downstream sector of the petroleum industry, Dangote pleaded with the government to allow market forces to determine the price of fuel to allow the private sector play a significant role in the industry.

"We are all aware that the federal government had issued 19 licences to the private sector to establish refineries in the country, but how many of them have come on stream? There is uncertainty in the sector and only a mad businessman will put up a refinery now, but we are set to do that," he said.

Alhaji Dangote urged the federal government to put in place critical infrastructure in all sectors of the economy to kick-start its rapid development.

He said that with the country's population expected to hit 200 million by 2015, there were no serious plans to take care of the huge population.

He also called on the government to diversify the economy by intensifying reforms in agriculture.

http://leadership.ng/nga/articles/52005/2013/04/13/dangote_build_8bn_oil_refinery.html

0lumide:

Simple!

Power!!!!!!!!!!!! And if Dangote must set up his own power generation to maintain production, that adds to cost of production!

Either power is the problem or Dangote is a born thief and economic saboteur not an entrepreneur.

The production of cement in Nigeria requires limstone right? Now, we have abundance of that in Nigeria and Dangote owns many of our limestone deposits in Nigeria(Corruption). Raw materials are not expensive for him to get.

If true true dangote cement price is justified by the cost of production, then Dangote shouldn't be producing cement because he is wasting resources to do so. We should be allowed to import cement which will cost us only 20% of what Dangote is charging us.

KingPradas: [size=15pt]Another way for the rich to get richer and the poor to get poorer. This guy will monopolise the oil industry. Greedy Man[/size]

GeneralJ:

And how is the poor getting poorerr if the refinery is going to produce jobs,

KingPradas:

Can't you reason with using your brain. the poor will get poorer because fuel prices will go up. use logic my friend, talk less of job creation

ichidodo: With Dangote's refinery price of fuel will skyrocket which will result into high cost production of goods and service, household and consumers wont afford much commodities making the demand of such commodities to fall as a result the industries will close up following the mass retrenchment of its worker and then general choas plus recession. Down with the capitalist! Down witk Dangote!

naptu2:

Would it make business sense for Dangote to allow that happen?

oluwadare26: I'm wouldnt be surprise if the refinery is built in one of the Northern state.

omenka:

And so
Is it your money

oil suop: Opening refinery when other countries are building hybrid batteries power stations for future hybrid cars..