From Grace To Grass? How Dangote Refinery's Trouble Started - Business - Nairaland
Nairaland Forum / Nairaland / General / Business / From Grace To Grass? How Dangote Refinery's Trouble Started (161 Views)
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| From Grace To Grass? How Dangote Refinery's Trouble Started by Blessing28s: 2:40pm On Jul 22 |
Aliko Dangote's plan to transform Nigeria's energy sector through the Dangote Refinery has encountered significant setbacks, leading him to offer his shares to the Nigerian National Petroleum Company Limited (NNPC). Initially celebrated as a groundbreaking initiative, the 650,000 barrels per day (bpd) refinery aimed to make Nigeria self-sufficient in refined petroleum products, but a series of financial and operational challenges have shifted the project's course dramatically. The refinery, located in the Lekki Free Trade Zone, Lagos, was designed to be the largest in Africa and the world’s biggest single-train facility. It was expected to produce 50 million liters of petrol and 15 million liters of diesel daily, along with 4.6 million tonnes of diesel and 4 million tonnes of jet fuel per year. However, financial troubles started when NNPC failed to meet its payment obligations. Despite an agreement to acquire a 20% stake in the refinery for $2.76 billion, NNPC only managed to pay for a 7.2% stake, creating a significant funding shortfall. Read More: https://crispng.com/from-grace-to-grass-how-dangote-refinerys-trouble-started/
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| Re: From Grace To Grass? How Dangote Refinery's Trouble Started by PresidObi: 2:41pm On Jul 22 |
Nigeria has happened to Dangote. |
| Re: From Grace To Grass? How Dangote Refinery's Trouble Started by otipoju(m): 2:45pm On Jul 22 |
The Principalities that rule thus country are enemy of progress. They just love to see Nigerian suffer. 1 Like 2 Shares |
| Re: From Grace To Grass? How Dangote Refinery's Trouble Started by brain54(m): 2:49pm On Jul 22 |
The size of that refinery was massive... Maybe Dangote actually bit more than he could chew out of greed. Maybe he should have started with a smaller refinery and gradually expanded with time. I hope Rabiu Abdul Samad is taking notes! |
| Re: From Grace To Grass? How Dangote Refinery's Trouble Started by hisgrace090: 3:18pm On Jul 22 |
Western interest using Nigerians to undermine the refinarys progress. |
| Re: From Grace To Grass? How Dangote Refinery's Trouble Started by Zonefree(m): 3:32pm On Jul 22 |
brain54:Brain-dead reasoning! 2 Likes |
| Re: From Grace To Grass? How Dangote Refinery's Trouble Started by brain54(m): 3:34pm On Jul 22 |
Zonefree:Like you have a brain to comprehend... You think we are here to throw insults at Nigerian girls? Oponu! |
| Re: From Grace To Grass? How Dangote Refinery's Trouble Started by Zonefree(m): 3:35pm On Jul 22 |
brain54:Your shallow reasoning is a big shame to your moniker. 3 Likes |
| Re: From Grace To Grass? How Dangote Refinery's Trouble Started by brain54(m): 3:37pm On Jul 22 |
Zonefree:Otondo... It's you who can't reason with yours! |
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