Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,218,220 members, 8,037,179 topics. Date: Wednesday, 25 December 2024 at 08:53 PM |
Nairaland Forum / Nairaland / General / Politics / FG To Sell Oil In Naira To Dangote Refinery (35790 Views)
Aliko Dangote Offers To Sell Oil Refinery To FG-Owned NNPC / NNPC To Supply 300,000 Barrels Of Crude To Dangote Refinery / FG Grants N16 Trillion Waiver To Dangote, Honeywell, 44 Others (2) (3) (4)
(1) (2) (3) ... (5) (6) (7) (8) (9) (10) (Reply) (Go Down)
Re: FG To Sell Oil In Naira To Dangote Refinery by Originalsly: 11:03am On Feb 28, 2021 |
Emary: Bro... must you be negative?.... even if it means being an illiterate? Where does the post say Dangote will be sold our crude at cheap rates? You start off on a lie.... then build on it... but if I say you be rumour monger... you no gree. @ topic.... I don't understand why the fuss as if is rocket science to come to the decision for local crude to be processed by a local refinery. And between the lines... seems they are suggesting the future of the country is based on the refinery. But somehow.... I have the feeling foreign interests will find a way to cripple that refinery. 2 Likes |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 11:09am On Feb 28, 2021 |
Originalsly: The only thing that would cripple the refinery is us selling at lower prices than the cost of production. Which is what crippled NNPC refienreis....because people prefer cheap fuel Niger has a running refienry...and it sells fuel from that refinery at N350 per liter. Costly, but at the same time, enough to make it profitable, and also make Niger an exporter of fuel to Mali, Burkina and here. Foreign interests would want Dangote refinery to succeed...ESPECIALLY as DANOGTE TOOK loans from foreign banks to build the refienry...big foreign banks. A failure of the refinery would hit those banks hard. 2 Likes |
Re: FG To Sell Oil In Naira To Dangote Refinery by Emary(f): 11:11am On Feb 28, 2021 |
loswhite: Good question. https://www.proshareng.com/news/Oil%20&%20Gas/FG--Dangote-Refinery-Will-Sell-Petrol-at-International-Price/53251 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by alexola20(m): 11:15am On Feb 28, 2021 |
. |
Re: FG To Sell Oil In Naira To Dangote Refinery by MansoryMX(m): 11:18am On Feb 28, 2021 |
MEGA4BILLION: Dude, the cabals owns Dangote Company. The name and Man Dangote is just a figured head there! Dangote is a group of companies! Not owned by one man but many shareholders! The cabals are the shareholders that is why everything goes easy for Dangote group PLC 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by alexola20(m): 11:20am On Feb 28, 2021 |
. |
Re: FG To Sell Oil In Naira To Dangote Refinery by alexola20(m): 11:20am On Feb 28, 2021 |
. |
Re: FG To Sell Oil In Naira To Dangote Refinery by alexola20(m): 11:22am On Feb 28, 2021 |
. |
Re: FG To Sell Oil In Naira To Dangote Refinery by TripleAkutigi: 11:27am On Feb 28, 2021 |
E no go buy it like DAT. |
Re: FG To Sell Oil In Naira To Dangote Refinery by MansoryMX(m): 11:27am On Feb 28, 2021 |
Godarz: If You think Dangote is the sole owner of that company then you have no knowledge of what PLC means on the name of a company or the word Group in that company’s name |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 11:34am On Feb 28, 2021 |
alexola20: Okay may government start fixing the price of your business products so that government can help the poor...at your expense |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 11:36am On Feb 28, 2021 |
MansoryMX: Yes ﹰPﹰLﹰC covers them shareholders who are made up of people from all walks of life....poor and rich. Northerners and ﹰSoutherners. |
Re: FG To Sell Oil In Naira To Dangote Refinery by SmartPolician: 11:38am On Feb 28, 2021 |
udoka2013: I laugh whenever Ndigbo say they don't need the government to succeed. That's the most stupid comment ever. |
Re: FG To Sell Oil In Naira To Dangote Refinery by pat077: 11:40am On Feb 28, 2021 |
Godarz:nobody is saying government should fix the price. He is doing it because of the monopoly he enjoys. If government didn't ban the importation of cement will he be selling at such exorbitant price? |
Re: FG To Sell Oil In Naira To Dangote Refinery by SmartPolician: 11:42am On Feb 28, 2021 |
olatade: Dangote is a brand used to cover up slashed loots in Nigeria. While he is monopolizing the entire economy, he also adds value to Nigeria and Nigerians. |
Re: FG To Sell Oil In Naira To Dangote Refinery by MansoryMX(m): 11:44am On Feb 28, 2021 |
Godarz: Young man Stop deceiving yourself. Secondly, We all know why the border restrictions was let loose a bit |
Re: FG To Sell Oil In Naira To Dangote Refinery by prof2007: 11:49am On Feb 28, 2021 |
QuotaSystem: Your head is squarely placed on your shoulders...now following you. 2 Likes |
Re: FG To Sell Oil In Naira To Dangote Refinery by Zetty177x: 12:09pm On Feb 28, 2021 |
[quote author=QuotaSystem post=99472696]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 Dangote's 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. [/quote I see 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by chrisxxx(m): 12:11pm On Feb 28, 2021 |
BabaOwen:Look at this ikorodu boy oooo! This ikorodu boy talking to Pitakwa boy! I pity you. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Zetty177x: 12:12pm On Feb 28, 2021 |
QuotaSystem: 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 12:19pm On Feb 28, 2021 |
chrisxxx:did dangote stop you and your family from building your own refinery? BUA is building his own. be grateful. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 12:21pm On Feb 28, 2021 |
this refinery is a new strategy by the north to cease the economy of Nigeria, I will advice southern business to build their own refinery too to balance the equation and prevent monopoly. otedola should wake up. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Originalsly: 12:38pm On Feb 28, 2021 |
Godarz: A private refinery will not sell below production cost. A government refinery will... because of politics... to gain votes to maintain power. Banks do not give loans and hope they get their money back... before they give the loan.. they have guarantees of getting their money back and making a profit... even if the refinery fails on Day 1. World Bank ... as well as China... are quick to give Nigeria loans when they know the projects intended are highly likely to fail. When we hear of these loans.. we never hear about the conditions. The foreign interests I refer to are international oil refineries/countries. When Dangote refinery beging production.... we would no longer need to import fuel. The companies we are presently importing from... would lose huge revenue.... and so would their country. It will be in their interest to cripple Dangote refinery.... and that can easily be done and blamed on terrorist activity. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 12:41pm On Feb 28, 2021 |
Originalsly: They would, and they won't be able to do anything about it....because they are not in Nigeria. Refinereis don't work in Nigeria because foreign interests....otherwise, why would they work in Niger? Refineries don't work in Nigeria because subsidy means loss of potential profits. 1 Like |
Re: FG To Sell Oil In Naira To Dangote Refinery by 7lives: 12:42pm On Feb 28, 2021 |
9jaRealist: Amen in Jesus name. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Katuul: 12:43pm On Feb 28, 2021 |
Why couldn't the federal government build the refinery herself? If it were to be an Igbo man now they will look for every means to frustrate his effort. Innoson Motors has never received any federal support or promotion from this government, God dey |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 12:47pm On Feb 28, 2021 |
MansoryMX: Thanks for the flattery. You just made me feel much better.... Stop deceiving yourself. Well, I know many people with shares in PLC companies...and some of them were not as wealthy as the elites... Secondly, We all know why the border restrictions was let loose a bit Pardon? The fact is, you want government to waste billions of naira subsidizing fuel to N40 a liter. That's why you voted for them too...n' cest pas? |
Re: FG To Sell Oil In Naira To Dangote Refinery by 7lives: 12:49pm On Feb 28, 2021 |
mu2sa2: Post of the month. The more I read comments on nairaland, the more I realized how unintelligent some people are and why people failed interviews. |
Re: FG To Sell Oil In Naira To Dangote Refinery by loswhite(m): 12:52pm On Feb 28, 2021 |
Emary:So the price of crude oil in USD converted to naira exchange and paid in naira doesn't mean selling cheap to dangote refinery...The focus is on strengthening the naira, part of the problem we are having currently is that our currency is weak |
Re: FG To Sell Oil In Naira To Dangote Refinery by Originalsly: 12:53pm On Feb 28, 2021 |
Godarz: As a private company.... if the price of fuel is subsidized... it is subsidized by the government... not the company. The government pays the subsidy to Dangote... he is not losing profit. |
Re: FG To Sell Oil In Naira To Dangote Refinery by Nobody: 12:53pm On Feb 28, 2021 |
pat077: Lafarge and BUA are available. Buy from there. Thank you. |
Re: FG To Sell Oil In Naira To Dangote Refinery by grandstar(m): 12:54pm On Feb 28, 2021 |
This doesn't sound right. Why sell to him in Naira, a currency that isn't stable? A currency that loses about half its value every 5 years. Also at what exchange rate? Is it the official or the export rate? I'm sure the official rate, thereby depriving the nation of billions. This is an unwelcome subsidy Dangote has said he'll sell his crude oil at the international market rate. Why then subsidize him heavily? 1 Like 1 Share |
(1) (2) (3) ... (5) (6) (7) (8) (9) (10) (Reply)
Yahaya Bello Moves To Displace Ganduje As APC Chairman, Posters Flood Abuja / Waterway Bill: IPOB Protests In Rivers State, Say No To Water Way Bill / Probe: Jonathan Holds Meeting With Ex-ministers
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 65 |