📌📌📌📌

Itsrm:


Looks like it is. Except Dangote is lying.

Baba, I took law courses and from what I could remember there are exceptions to rules and laws . For example now , in law of contract it said that any contract entered into with a person of unsound mind(let’s say mad man ) is null and void except it can be proven such person was in a lucid state as at the time of contract agreement.

Now that exception in bold matters a lot.

In application to Dangote/NNPC/NUPRC matter, if NUPRC are saying they can’t enforce the DCSO, it is because they are aware that “sanctity of contracts “ supersedes our toothless PIA in international business law. Oil and gas is an international trade through and through .

I think Dangote will be fine if he learns from hordes of mistakes he has made in this business venture

BlueRayDick:


Let me ask u one question .

Let’s say there’s an agreement between FG/NNPC and let’s say Shell for oil exploration and the agreement says Shell gets 40% and NNPC 60% of the crude explored.

Now the NNPC has obligations to repay those loans out of their 60% of the last crude tapped out of the ground; they also need to sell some to international refineries to make the country money etc .

If IOCs out of their 40% chose to favor their own customers which they have contracts signed with first and then offer Dangote crude at a premium price , is that a crime according to PIA ?

Plus how come this same IOC's suddenly have the required oil to sell to Dangote if he wants at the price they want to sell? 😁

BlueRayDick:


Most Nigerians believe Dangote refinery (a private business that is established with profit motives) will commence operation and make the after-effects of subsidy removal disappear. No disillusion surpasses that. A lot of people including u believe once Dangote comes on board PMS will be significantly cheaper simply because Dangote will be getting crude locally.

The same Buhari government entered into several forward sales for untapped crude . Now NNPC doesn’t have enough crude, Dangote is crying (for failing to plan properly ) and people think it’s the “cabals “ that are causing him to cry.

Even from ur position as of now sef, it appears u still believe the only reason u are not buying fuel for N200/liter is because Dangote is being frustrated from refining PMS locally 😂

Provided receipt for the bolded. I am for anything that will make Nigeria economy smile.

Dangote refinery will impact our economy positively and I am for anything that will move our country forward especially local production. That has always been my position. They are so many addendum to it.

liveLongNprospa:


Plus how come this same IOC's suddenly have the required oil to sell to Dangote if he wants at the price they want to sell? 😁

He won't be buying from them

BlueRayDick:


Baba, I took law courses and from what I could remember there are exceptions to rules and laws . For example now , in law of contract it said that any contract entered into with a person of unsound mind(let’s say mad man ) is null and void except it can be proven such person was in a lucid state as at the time of contract agreement.

Now that exception in bold matters a lot.

In application to Dangote/NNPC/NUPRC matter, if NUPRC are saying they can’t enforce the DCSO, it is because they are aware that “sanctity of contracts “ supersedes our toothless PIA in international business law. Oil and gas is an international trade through and through .

I think Dangote will be fine if he learns from hordes of mistakes he has made in this business venture

This should not be the case though. Whatever contract any IOC is signing must be in accordance with existing laws.

Itsrm:


This should not be the case though. Whatever contract any IOC is signing must be in accordance with existing laws.

I think that part of PIA can only be enforceable on NNPC and not IOCs.

If the PIA is not stopping NNPC from meeting their own previously signed contractual agreements, while do Dangote think it will stop IOCs from meeting theirs?

Itsrm:


This should not be the case though. Whatever contract any IOC is signing must be in accordance with existing laws.

The IOCs contracts likely precede the pia.

The IOCs have actual well compensated internal and external legal teams with decades of experience in these matters.

dangote is less than 12 months as an operator in this industry.

he is not going to mke the mistake where he takes this to court and forces a ruling that will negatively guide on his operations

Itsrm:


This should not be the case though. Whatever contract any IOC is signing must be in accordance with existing laws.

PIA was signed in 2021. NNPC knows that PIA mandates them to sell crude local refineries according to PIA right? This year, nnpc has entered into a crude back loan where they are pledging a portion of daily crude for the repayment of the loan.

If nnpc can do that, why do you think IOCs cannot do what they like with their own share of crude? And why hasn't NUPRC been able to force IOCs to sell directly to Dangote?

If you have seen that section of the PIA, can you please share for us let's read it.

This is flying in my X timeline.

2 year jail for anyone that insult politicians?

https://x.com/MikaelCBernard/status/1823453824314417652

People think colonialism has ended, it hasn't. Just took another dimension.

Can Kenyans soldiers do something like this in France or UK? And UK/France will not recall her ambassador from Kenya?

liveLongNprospa:


But this issue has been trashed.
Dangote doesn't want discount ooo.
He wants to pay the actual price of crude and not the price the IOC state for him after adding multiple charges (which is against the PIA they all signed).

What is the value of the multiple charges per barrell? Is it the cost of transportation from rig to Lagos? Put numbers on it.

Like I say, once a suppliers profit motive is met, no need for long talks. Dangote wants discount that does not match the profit contribution suppliers are getting internationally. This argument is about price, nothing else and as usual Dangote is seeking an advantage (rentiering)

Segedinho:
This is flying in my X timeline.

2 year jail for anyone that insult politicians?

https://x.com/MikaelCBernard/status/1823453824314417652

These people no regard us at all
Dictatorship no reach this level

BlueRayDick:


U need to watch the video and understand some things first . If u watch the video , it will disabuse ur mind and purge it of some preconceived misinformation that probably formed the basis upon which u are asking this question.

There’s a price for failure to plan and it’s usually costly . It is costlier for a multi-billion dollar business .

What u call simple document can make or mar ur business and all investments.

For ur information , all over the world there’s no refinery that rely solely on crude from local sources as feedstock . Refineries all over the world source their crude from different sources . two of the largest refineries in the world are sighted in Singapore and South Korea yet, none of the two countries has proven oil reserves. It simply means they buy crude , refine and export fuel & its byproducts .

The government owned Kaduna refinery , before it commenced operations back then Nigeria entered into supply contract with Venezuela and Saudi Arabia to be supplying us crude for the refinery . That’s the standard practice , a refinery enters into contract if supply with suppliers years ahead so u don’t have a fully functional refinery with no feedstock to refine .

Permit me to ask ; which problem is the Dangote refinery (a private business ) supposed to alleviate ?

First, please I am not doubting you as I do not have adequate information about the issue. I am simply asking questions using my common sense.

The Dangote refinery as reported should supply our local market with refined PMS and diesel without the burden of foreign exchange.

My concern is that none of our refineries are working after billions of dollars have been spent. Now that we have one even though it is private why can't we just simply ordinarily assist it to work as long as it will be for the benefit of the common man. Why would government be comfortable to subsidise imported fuel but cannot support a local supplier even if it will mean personal gain.

If your child is dying of hunger you don't have to ask the child why he hasn't done his chores before you give him food.

With none of our refineries working, we can bring up several reasons or excuses why Dangote should have done this or that, but it's the common man that is paying the price.

iamoyindamola:

These people no regard us at all
Dictatorship no reach this level

Maybe na prank

Itsrm:


He won't be buying from them

They were going to sell to him if he was going to pay the additional charges if he was buying through their subsidiaries like he was asked to.

Ibime:


What is the value of the multiple charges per barrell? Is it the cost of transportation from rig to Lagos? Put numbers on it.

Like I say, once a suppliers profit motive is met, no need for long talks. Dangote wants discount that does not match the profit contribution suppliers are getting internationally. This argument is about price, nothing else and as usual Dangote is seeking an advantage (rentiering)

What discounts does he want again?
Someone is saying he is ready to pay the market price of crude as stated by law.

Abi na me dey misunderstand?

Itsrm:


This should not be the case though. Whatever contract any IOC is signing must be in accordance with existing laws.

Because it is not the case.
Hence why people are looking at FG sus because they don't want to enforce the law for some funny reason.

Either bribes or backhand deals or something.

Maybe IOC's will say the FG has enough to actually sell to Dangote but are refusing to. Which will make everybody ask why?

GloriousGbola:


The IOCs contracts likely precede the pia.

The IOCs have actual well compensated internal and external legal teams with decades of experience in these matters.

dangote is less than 12 months as an operator in this industry.

he is not going to mke the mistake where he takes this to court and forces a ruling that will negatively guide on his operations

How long did it take the PIA to be developed?
Does it state anywhere that the contracts of These existing contracts take precedent over DCSO in the PIA?
that's the important question

Segedinho:


Maybe na prank

Be like that
Abi he sniff him supply

liveLongNprospa:


What discounts does he want again?
Someone is saying he is ready to pay the market price of crude as stated by law.

Abi na me dey misunderstand?

Stated by law, and he no go court? Leave story. All relevant information is contained in the price of a good. He is not seeking market price but Dangote price. Market price is the price you receive from selling abroad less the difference between shipping abroad and shipping to Dangote. If Dangote can meet whatever that price is, he will have no problem.

Ibime:


Stated by law, and he no go court? Leave story. All relevant information is contained in the price of a good. He is not seeking market price but Dangote price. Market price is the price you receive from selling abroad less the difference between shipping abroad and shipping to Dangote. If Dangote can meet whatever that price is, he will have no problem.

This man.
Dangote is saying they should sell him crude oil at the market price of crude.
If 1 barrel is $80, that is what he wants to buy.
He's asking them to stop selling through their subsidiaries after they have carried oil outside naija.
Unless you have new information I'm not aware of.

Ibime:


Stated by law, and he no go court? Leave story. All relevant information is contained in the price of a good. He is not seeking market price but Dangote price. Market price is the price you receive from selling abroad less the difference between shipping abroad and shipping to Dangote. If Dangote can meet whatever that price is, he will have no problem.

The issue is not really price but cost based on what you have stated earlier. Cost of shipping, cost of Forex etc.

But then I interest is not Dangote but Nigeria. If helping Dangote will ease life for Nigerians (something that Dangote is notorious to not do) then the FG and NNPC should do what's needful.

Why pay billions on subsidy for imported fuel when you can help a local supplier?

liveLongNprospa:


This man.
Dangote is saying they should sell him crude oil at the market price of crude.
If 1 barrel is $80, that is what he wants to buy.
He's asking them to stop selling through their subsidiaries after they have carried oil outside naija.
Unless you have new information I'm not aware of.

Dangote is notorious for being harsh to Nigeirans himself. I believe that's where he is having issues with policy makers and public analysts.

He sells cement higher than international market, etc . He cannot be trusted as a business always wants to be spoon-fed.

Honestly at some point, this whole AI detection tools will be useless because why should I be queried for using AI tools to achieve a goal.

I was watching this Google Gemini presentation and honestly AI presents alot of questions especially in regards to learning.

How will the education sector embrace use of AI say 10yrs from now

Spy360:

Dangote is notorious for being harsh to Nigeirans himself. I believe that's where he is having issues with policy makers and public analysts.

He sells cement higher than international market, etc . He cannot be trusted as a business always wants to be spoon-fed.

I agree but sadly, we are joined at the hip with him on this issue.

It will save us more money to supply him crude, pay him subsidy especially in naira.
The logistics cost will be eliminated.
The idea that we won't experience fuel scarcity is too good to not ask the FG to do it's job.

Unless the FG comes out to tell us what the actual problem is.
Until then, Dangote refinery gats work going by everything available to the public

liveLongNprospa:


This man.
Dangote is saying they should sell him crude oil at the market price of crude.
If 1 barrel is $80, that is what he wants to buy.
He's asking them to stop selling through their subsidiaries after they have carried oil outside naija.
Unless you have new information I'm not aware of.

Let me ask you a question: Why do u think Dangote refinery is considering setting up a London based trading arm?

If crude oil business is as simple as " If crude is 1 barrel per $80, then sell to me because u have the product" ; why do u think oil and gas companies set up trading offices in Dubai, London, etc.? These are trading offices run by expats who are international trade specialists paid in dollars.

Do u feel those guys are paid hundreds of thousands in dollars to just sit down to do "willing buyer willing seller" ?

liveLongNprospa:


This man.
Dangote is saying they should sell him crude oil at the market price of crude.
If 1 barrel is $80, that is what he wants to buy.
He's asking them to stop selling through their subsidiaries after they have carried oil outside naija.
Unless you have new information I'm not aware of.

Bros all information that's needed about any dispute is contained in the price someone is willing to pay and another party is willing to sell. When they finish plenty talks, I believe someone will provide the calculation as to why there is an impasse, and I guarantee you the impasse is hinged around the price points to Dangote not being as profitable as selling abroad. Everything in life is arithmetic.

Blueraydick, The quality of your submissions is one reason I keep coming back to this thread.

Your (and GloriousGbola's) analysis of this NNPC dangote issue carry good medal walahi

Spy360:

The issue is not really price but cost based on what you have stated earlier. Cost of shipping, cost of Forex etc.

But then I interest is not Dangote but Nigeria. If helping Dangote will ease life for Nigerians (something that Dangote is notorious to not do) then the FG and NNPC should do what's needful.

Why pay billions on subsidy for imported fuel when you can help a local supplier?

If we are to agree Nigerians deserve subsidy, the subsidy should come at the point of the final supplier (Dangote). If we say PMS should be sold at N500 per litre, then there should be a single payment from Govt to Dangote reflecting the difference between the price Dangote can sell abroad and N500

Flowing the subsidy mechanism through multiple IOCs at the point of crude extraction is messy accounting

Dangote is simply filling in the gap of the previous PMS importer (which is NNPC). Multiple IOCs cannot be writing down their revenue to account for subsidy, they are not party to the subsidy agreement between Nigerians and FG, only the final supplier of PMS is part of that arrangement. If we are to account for subsidy via the supply of crude, then NNPC should be the only party to absorb the writedowns to their accounts from their portion of the crude, nothing concern the other parties.

liveLongNprospa:
Honestly at some point, this whole AI detection tools will be useless because why should I be queried for using AI tools to achieve a goal.

I was watching this Google Gemini presentation and honestly AI presents alot of questions especially in regards to learning.

How will the education sector embrace use of AI say 10yrs from now

AI tool should be a guide like assisting you to achieve your goal
If AI tells you 1+1 is 2 without you showing why it's 2
You are the useless one of AI
What majority of people do is to dump everything AI give them without doing anything
And it's not advisable to introduce AI to children until they reach 18