Islie:


https://dailypost.ng/2024/07/30/tinubus-order-wont-end-dangote-refinery-woes-experts/

Who and who mortgage our lives in Nigeria like this ?
We should ask our leaders what they do with the loans ?

teebaxy:
Brother , Remember that you have old once and also Remember that someday you will also be tagged Old Fool. Just a quick reminder

Tinubu should be telling his Grand children stories of his failures in Chicago. he is an Old fool who is not supposed to be running this country

Godfullsam:


You are trying to tell me we don't generate enough money from crude sales to meet our domestic needs except we take loans in advance with our crudes?

For your mind, our foreign reserve is a proceeds from loans obtained from crude abi?

You be bush man o

Sebi you go school. If we are producing around around 1.2m barrels daily and we share this between between NNPC and IOCs in the ratio of 60:40. So, we get around 720k bpd. Now, remove what Buhari sold on forward contract before leaving, remove what Tinubu sold to Afrexim Bank and the new one they recently announced, remove what NNPC usually use to pay for cash call obligations. So, what is left?

Even the entire 1.2m bpd is just $93.6m daily. By the take we take away all the obligations mentioned above, what is left? You guys really think we make so much money from crude sales, right? Nigeria is a very poor country with over 200m entitled citizens who want FG to subsidize just everything. You guys better wake up to this reality.

tifirmuny:
They used all the crude oil up to the ones still underground to borrow loans. Guys Nigeria is in trouble

Nigeria is in trouble, not Nigerians, the worst is we all leave Nigeria for the cursed generational looters. If you no get money to JAPA to Europe or America, start from Benin Republic or Cameroon

tifirmuny:
They used all the crude oil up to the ones still underground to borrow loans. Guys Nigeria is in trouble

We already know the problem so what's the solution that you can profer

Pastoshizzy:
It shall be well with Nigeria. Under this administration too.
There's what is called a 'passing phase'.
Haterz...I get am for sniper

Is your Sniper in bottles or in drums? These headless mob plenty oooo

efighter:


Is your Sniper in bottles or in drums? These headless mob plenty oooo

Make dem open thread for Nairaland.
We will serve in teaspoons.
They will turn up.
Hopefully it might go round.

budaatum:


I do not see why Dangote's major market must be Nigeria especially since there is no way Nigeria can consume what that refinery can produce when at full capacity. It is the largest this side of the world after all.

All he has to do is produce cheaper than others. And yes, I know that's simply said but almost impossible considering government would not only not support but even throw obstacles in his way.

Seriously. I can't understand why he'd build such a huge refinery without first owning upstream to supply it. Its like Shell not owning crude supply for its daily 404,000 barrels capacity Pernis plant in Netherland, which is stupid if one asked me, and which makes me wonder if Dangote Refinery wouldn't become another Nigerian white elephant

So far so good, you really think he can compete outside Nigeria market without the support of FG? Where will he get a steady daily supply of 650k crude oil from? Even if he finds a supplier, at what cost? By the time he imports from far away US or Brazil and then add cost of refining, can he compete with a better pricing against European refineries?

He made a big mistake by not first securing control over crude supply before going into downstream. My believe is that he felt he can get whatever he wants from whoever is in power in Nigeria. All he used to do before was walk into the villa and everything he wants will be delivered immediately. Sadly, this is even beyond the president as there is no enough crude to give him. If he still has small money left, he should quickly invest in some oil wells right away. Else, OYO na him case.

bemeruca:


Technically speaking, Theft and corruption are not the same thing. Either way, you were better when he was around. today, these new guys remove the so-called thieves and install worse thieves so how are you coping?

Who is the 'you' here? Don't hastily generalize. Maybe you were better but i am better today than then. If you are talking about the economy been better then, the reasons are obvious to the educated. It was a time when we had a windfall in oil prices. In layman's terms we had/made a lot of money from crude oil as the price of crude oil was very high. So we could afford to save and invest. Unfortunately, we did not. Instead we spent and wasted like the proverbial prodigal son. Today, we are suffering the consequences of failing to plan or save.

Image123:


Who is the 'you' here? Don't hastily generalize. Maybe you were better but i am better today than then. If you are talking about the economy been better then, the reasons are obvious to the educated. It was a time when we had a windfall in oil prices. In layman's terms we had/made a lot of money from crude oil as the price of crude oil was very high. So we could afford to save and invest. Unfortunately, we did not. Instead we spent and wasted like the proverbial prodigal son. Today, we are suffering the consequences of failing to plan or save.

you is the you and if you say you are better today you are lying.
go and ask all the people to buy yam for 10000 and fuel for 1200 if they are better.
yeah, we made a lot of money when he was around then what happened? The people who spent and wasted the money were Buhari who ushered in new Thieves and Tinubu who brought in another set of thieves. Enjoy your tribalism

Whatever it takes, NNPCL must make crude oil available to the local refineries.
Tinubu as the commander in chief of the armed forces of the federal Republic of Nigeria must take every action and necessary steps to ensure that crude oil is available for Nigeria domestic usage.
Forward sales or no Forward sales, nnpcl is required to provide crude oil for Nigeria and Nigerians.
At least, the people who are running the affairs of nnpcl are Nigerians and are answerable to the president and the government.
For the mafia who are addicted to seeing Nigerians suffering, it is time to ask themselves questions.

It won't be well with the Experts

Philipponzaghi:
Experts will always find a way to downplay progress. Tinubu's leadership is what we need to turn things around.

The refinery challenges are just stepping stones to greater heights.

With the right policies in place, there's no stopping us!

Truth is,you don't know anything about this topic....others are talking so you too must talk 🤣🤣🤣🤣🤣🤣

seunmsg:


So far so good, you really think he can compete outside Nigeria market without the support of FG? Where will he get a steady daily supply of 650k crude oil from? Even if he finds a supplier, at what cost? By the time he imports from far away US or Brazil and then add cost of refining, can he compete with a better pricing against European refineries?

I think he might be able to compete outside Nigeria market without the FG putting barriers in his way. There's many countries out there begging to sell their crude oil at a discount.

seunmsg:
He made a big mistake by not first securing control over crude supply before going into downstream. My believe is that he felt he can get whatever he wants from whoever is in power in Nigeria. All he used to do before was walk into the villa and everything he wants will be delivered immediately. Sadly, this is even beyond the president as there is no enough crude to give him. If he still has small money left, he should quickly invest in some oil wells right away. Else, OYO na him case.

As I already said, and in agreement "I can't understand why he'd build such a huge refinery without first owning upstream to supply it". Its just not good business. Its even worse and more stupid if he "felt he can get whatever he wants from whoever is in power in Nigeria". If he truly felt that, my advice to him would be to shut the refinery down or just sell it to Nigerians to do with it what we may, because his business sense would need to be nil if he thought something as stupidly ridiculous as "he can get whatever he wants from whoever is in power in Nigeria" without considering the cost.

FRAUDULENT EXPERT'S

There is always a twist, una go tire

budaatum:


I have always found it amusing when Nigerians claim Nigeria is rich because we have oil. The above shows how poor our nation actually is.

Dangote should buy crude oil wherever he finds it. His refinery is after all large enough to sell outside Nigeria, so getting foreign exchange should not be a problem.

He also should sell in Nigeria at a profit. Sorry folks, but that does mean at likely twice or triple the current price. He after all did not build it as a charity to feed anyone.

Though Dangote is not running a charity organization, if the FG is selling 450,000 barrels of crude to him for local sales to Nigerians. I don't think it will be sold at a more expensive rate. They can negotiate and even subsidize the price self since it will completely be sold locally. My concern for Dangote is how does he sources crude to export outside of Nigeria

Islie:


https://dailypost.ng/2024/07/30/tinubus-order-wont-end-dangote-refinery-woes-experts/

How can't Nigeria source for crude oil to Dangote refinery?

Millions of barrels of stolen crude nko?

Those NNPC guys should just say they don't want Dangote to cut there meal ticket

Nigeria still have billions of barrels of crude oil reserve

Selling to Dangote refinery in Naira will remove the cost of importation also get other products gotten in refinishing of crude like : Ago(diesel), aviation fuel, bitumen etc

So Dangote refinery makes more economic sense for Nigeria

MasterJayJay:
I was laughing at the clowns who are suffering from memory loss when they were hailing Tinubu.

Nigeria has sold its crude oil in advance. So where would NNPC get the one they will sell to Dangote?

This is public knowledge. Dangote imported crude oil from other countries because NNPC has sold our crude oil in advance to pay for loans.

There is a 450k barrels meant for local consumption that has been allocated....that is what's been taken out for refining and been brought back as pms....only pms, nobody is telling us where all the other derivatives goes.....what govt is saying is basically,no need to take out the allocated volume for local consumption,just sell in naira to dangote and leave the rest but the NNPCL goons don't want that because that's the end to the heist they have been committing

FreeStuffsNG:

Smh. Absolute bunkum! Awon olodo 'experts'.

Watch how other olodos reading this junk report will not bother to find out that the 'expers' are mediocre. This news media and whoever unleashed this kind of mediocrity on the reading public should be reported to the professional body for appropriate sanctioning. This is completely objectionable and upsetting!

It is unapologetically mediocre that a supposed newspaper like dailypost report is quoting our oil production at 1.2m bpd and repeating such an obsolete information to mislead and prove that the 'expert' is a quack for not knowing that Nigeria is currently producing over 1.6m bpd! Experts indeed!

Awon olodo upon 100 gbogbo. This is why those in government never take them serious, they know that those criticizing them are ignorant and lazy. At the current rate of over 1.6m bpd, NNPCL supplying 450,000 for the whole year is small and no big deal. The koko is in helping these local refineries get the crude in naira instead of struggling for forex upandan.

Nigeria can conveniently deliver that 450,000 barrels in a year to help the local refineries get a headstart.

It is only those who are ignorant about the topic and too lazy to engage intelligently who are uncouth and destructive to our collective creative minds but we must resist them and their toxic unpatriotic destructive upbringing and actions.

May God bless Nigeria for ever! Check my signature for free stuffs!

It's daily sir not annually.....our consumption far outweighs 450k per annum

seunmsg:


Sebi you go school. If we are producing around around 1.2m barrels daily and we share this between between NNPC and IOCs in the ratio of 60:40. So, we get around 720k bpd. Now, remove what Buhari sold on forward contract before leaving, remove what Tinubu sold to Afrexim Bank and the new one they recently announced, remove what NNPC usually use to pay for cash call obligations. So, what is left?

Even the entire 1.2m bpd is just $93.6m daily. By the take we take away all the obligations mentioned above, what is left? You guys really think we make so much money from crude sales, right? Nigeria is a very poor country with over 200m entitled citizens who want FG to subsidize just everything. You guys better wake up to this reality.

During Jonathan era 2010-2011 Nigeria was producing 2.4 million barrels daily

The 1.2 claims now is questionable

This reduction in production quota came about since APC took over

Nigeria can still improve crude production to minimum 2 million barrels pay day

Which is OPEC quota to the country

The 1.2 million claim is very questionable

Those NNPC guys are not stating true facts

Also I believe Tinubu should unbundle NNPC

Sell of 50% shares via IPO

Let NNPC be run like a true oil company

That's what

Saudi Arabia did to Aramco
Brazil did to Petrobras
Malaysia did to Petronas

These companies get annual profits in billions of dollars to there countries because of transparency and honesty

Aramco profit for Saudi Arabia last year was $175billon

But NNPC because of lack of transparency
Nigeria will keep on going round the circle

The presidency must unbundle NNPC simple

Lithiumite:


There is a 450k barrels meant for local consumption that has been allocated....that is what's been taken out for refining and been brought back as pms....only pms, nobody is telling us where all the other derivatives goes.....what govt is saying is basically,no need to take out the allocated volume for local consumption,just sell in naira to dangote and leave the rest but the NNPCL goons don't want that because that's the end to the heist they have been committing

Exactly

NNPC guys are the problem

Tinubu should unbundle NNPC simple

AqualinaXYZ:
Tinubu is useless



Old fool

Wasted youth is calling a successful, over achieved man a fool.

Channel your energy into an entrepreneurship or growing your career. Don't allow politicians to use you to achieve their aim of coming to power.

Was it not this way you occupied Nigeria during Jonathan and allow APC into power, what change? nothing, it only get worse. Use your brain 🧠, not emotion

drololaaof:

Who and who mortgage our lives in Nigeria like this ?
We should ask our leaders what they do with the loans ?

True talk and God bless you.
How did those who were there,at that time able to sell Our Crude Oil Forward- For Loans?
Who was the Commander In Chief at that Time?
At What Price and what did they used the Money For?
And which National Assembly Approved Such and for What?
So many questions are begin for Answers.
It is unfortunate,we run a Govt System( both Federal and States) without Accountability!
All Nigerians are doing is just Complaining on the Social Media,while Over 30% of Our Youths are Jobless , Infrastructures, Health Care Delivery, Constant Lights are illusions!

Lithiumite:


It's daily sir not annually.....our consumption far outweighs 450k per annum

If it's 450k daily then NNPCL will not be supplying about a quarter of the annual needs of the refinery as reported by the Federal Government. It's yet to fully require 650k daily. It requires 15 cargoes annually and NNPCL will sell 4 to him and other refineries in naira. He and other refiners will source the rest elsewhere

bemeruca:
You guys was enjoying when GEJ was around. Price of crude go up, naira strengthen. Today, na so so nonsense from the people wey say them Wan fix GEJ issues. How far? Where tribalism Don land una, una no go fit escape

Stop that already.....how much did GEJ meet price of petrol,how much did he leave it,how much did GEJ meet price of rice,how much did he leave it...... your likes knows nothing about how an economy runs and you go on capping nonsense.....fuel subsidy isn't sustainable the way we were going,have u forgotten GEJ himself first muted the idea of removing it

viodemus:
Dangote should play politics, since dem dey play tribalism with am.


Dangote should sell the plant and the 419 $100million land, at a slightly lower rate to the chinese and Russians, make dem go do tribalism with them, make dem see sumthin.

Tribalism from whom.....mele kyari,farouk, shettima? I am not getting your warped assertions

GreenxGreen:


Never invest more than 20 % of your wealth in Nigeria

never

Lithiumite:


Stop that already.....how much did GEJ meet price of petrol,how much did he leave it,how much did GEJ meet price of rice,how much did he leave it...... your likes knows nothing about how an economy runs and you go on capping nonsense.....fuel subsidy isn't sustainable the way we were going,have u forgotten GEJ himself first muted the idea of removing it

Lol, but your guy Tinubu and others protested when GEJ removed the subsidy. make we hear word. Even with the hunger, you are still lying

bemeruca:


Lol, but your guy Tinubu and others protested when GEJ removed the subsidy. make we hear word. Even with the hunger, you are still lying

Did GEJ attempt to remove it or not?

Lithiumite:


Did GEJ attempt to remove it or not?

he didn't you read? But what happened? APC started a protest. so you cannot fault him