Sysdatek:
India has the biggest refinery
And Indians are building your refinery
Are you not aware of sabotage
His Indian managers own choice property all over the globe while treating his staff like clowns

I hope dangote wakes up

Indians are NOT building the Dangote Refinery…
The main EPC contractor is Chinese, but Nigerians and Westerners are also involved.

Btw, the fertilizer plant is already up and running…
And has EXPORTED products to the US and Brazil in July!
>

BMC Boys dun japa...so much for the hype!

We know say the arrangement get kay leg. Government is the one remote-controlling dangote. He doesn't have any power of his own because whatever or whoever he is today, na still government make am.

From the write up, so 75% of Dangote wealth is DEBT
Na wa ooooo

[s]

Fahdiga:
Tell us another cock and bull story. This terrorist Fulani led federal government will rather empty Nigeria's vault than to see Dangote encounter financial problem

[/s]

Fire on the mountain!..
May most likely go moribund like the state owned refineries...
What Buhari cannot destroy does not exist

Lots and lots of smelling fishy deals.

The urea/fertilizer part of the company is also quite lucrative and is already running. He even bought 2000 trucks for distribution. I hear they’ll meet local needs which is very huge. That will offset some of the costs. Profits from the fertilizer plant can offset the loan servicing costs. The delay is unfortunate but its not as bad as you lots are making it out to be.

He has other businesses too and can decide to pull funds from any of them which may not be ideal but can always be a last resort. His investment in Cement & Sugar are also multi-billion dollar investments. Obtaining additional loans wont be as hard and the completion of the refinery will not exceed 2023, 2025 date they put out is intentional.

Emir01:


I have been to d refinery, Sahara reporters want people against Dangote and Government. No matter the method of funding it's a win win. The project is cool and almost completed. Fertiliser is running already.

it a usless new media with a weed smoker as editor..i bought urea from there and over 20bn naira wort of urea have been procured. Usless bad belle

MSRA:
Not happening. Fake news. Dont get me wrong; I would dearly love this to happen. But the capitalist that Dangote is, I don't see how he would ever allow this to happen.

How will he not allow it to happen? U no read say na loan dem take de build d refinery?

Even before it got started, I hope there are no foreign parties to this trying to frustrate this refinery protect from attaining its fruition, because this refinery was touted as a bailout for Nigerian economy and West African subregion from adverse effects of COVID-19 and ensuing global uncertainties. Those foreign refineries which Nigeria and other West Africa countries are using might want to come to play as business competitors.

And this development does not look good on dangote business profile as someone who is capable of managing big projects like this without the government backup.

mjmoney:
From the write up, so 75% of Dangote wealth is DEBT
Na wa ooooo

how about you. How many wealth you get .envy is a illness

Igyeseh06:
How can a whole richest man in Africa be owing such debt?

Is there something they are not telling us?

You can't be a billionaire without having credit facilities which means you will be owing all the time. Basically bouncing debts around, using Peter to settle Paul etc, until such a time when you see an opportunity to cash out and settle all you debts. Your debt free assets then become what you true worth is. You can then sell or use them to obtain reasonable rate credit to maintain a billionaire lifestyle with good cash flow.

you can doubt it all you want, your doubts won't change the facts on ground.

Penguin2:
As much as I don’t like Dangote because of his monopolistic tendencies in whatever sector he ventures into, I wouldn’t wish a govt takeover of the refinery.

Sometimes we have to enthrone reason over whatever primordial sentiments we might harbour.

If AMCON takes over the refinery, what’s the guarantee it won’t become just another Warri, Port Harcourt and Kaduna refinery?

Or become like Ajeokuta Steel plant?

Since AMCON took over Keystone, Enterprise, Heritage and one other banks, I don’t think those banks have been anything close to what they used to be.

But why will start of production at the refinery be pushed to 2025 for a refinery touted to be above 80% completed and is projected to start production by first quarter of 2022?

I doubt the veracity of this new claim abeg.

baby124:
White elephant project. A refinery in tiny Lagos is a ridiculously stupid idea. Considering there are no standards in place in this country.

I think the consideration is closeness to the port.

Fahdiga:
Tell us another cock and bull story. This terrorist Fulani led federal government will rather empty Nigeria's vault than to see Dangote encounter financial problem

My brother Economics is far beyond ethnic stupidity it tells right away. If they don't follow expert advice and run Economics like a science, then, they know they all will be doomed as well. Make they try empty the vault naa, they themselves go stab themselves. Naija go shutdown.

This dangote of a guy is not smart, how can one start a project bigger than your entire networth? Who does that? Who is advising him? Suddenly the naira slips further to dollar making the cost of the project to increase.

How can you invest such amount in refinery when the world is soon moving to electric car? He is just backward thinking. The Internet that is the main game he refused to invest it. Soon cement might be outdated too.
Why only invest in things that brings you valueless naira, why can't you invest hugely on things that you will export and earn in hard currencies like dollars and pounds and euros?
I wonder why this guys hate to think in the future...

OnlyDeCapPlease:


You can't be a billionaire without having credit facilities which means you will be owing all the time. Basically bouncing debts around, using Peter to settle Paul etc, until such a time when you see an opportunity to cash out and settle all you debts. Your debt free assets then become what you true worth is. You can then sell or use them to obtain reasonable rate credit to maintain a billionaire lifestyle with good cash flow.

Thank you so much for this detail explanation.
I used to think once one is a billionaire, he or she is absolutely debt free.

get ready to buy PMS at 1000 per litre. and you won't have a choice

A supposed billionaire , Reportedly worth about $10 billon , owing a staggering debt of $8.4.
That means his personal wealth is not More than #1.6 billion
How come he is reported as the richest man in Africa?.
If you check properly he may also have some other unreported debts
How much is Dangote truly worth? Is he a government made billionaire ?, Or selfmade? , I am just asking
please help me with an answer if you know.
Wonders shall never end in this our Nigeria. If you know you.
NB
We that are struggling to make it on our own With no government or bank to help us, please don't kill yourself because of those government made billionaires

Immatex:


The man was never as rich and wealthy as he is projected to be.

He had always had his way to National Cake. Enriched himself by borrowing from his country.

All assets owned by him is in one way or the other connected to our National Treasure.

He not only take loans with no plan of repaying them, he goes a step further and lobbies for market monopoly as his only business survival strategy.

When he gets the monopoly, he hikes the price of whatever commodity he sells beyond the reach of the common man so as to settle his cabals in the corridor of power.

The vicious circle of their fraud will one day come to light.

Can you back all these grave accusations with solid facts?

I believed inflation has affected him a lot. The time value of the money budgeted to kickstart and complete the operation in 2016 isn’t the same as now.. what he could have purchased then would have added price

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Business gone wrong

Nigeria should just buy the refinery from Dangote. Instead of building new ones.

INTEGRITYA1:
That's why in every businesses, there are risk which beyond theoretical explanation until you get to the field and reality begin to unfold.

For Instance in 2013; it was projected that the Refinery will commence operation by 2016 meanwhile the construction didn't commenced until 2018. All the issues itemized in the report didn't make the project a bad market, only that the production didn't come to fruition on time as planned due to factors beyond their control and the credit facilities are running out of time.

In all, everything will be sorted out. Business is not for the faint hearted fellows.

Ibeju-Lekki is so promising and remain hottest Investment zone, so I will encourage all investors home and abroad to key into opportunities in that axis.

Come in person for physical Inspection or send someone you can confide in to come and visit our Estates within and around Ibeju-Lekki, where you can truly have value for your investment.

I'm a Realtor.

No you re a scam promoter.

Penguin2:
As much as I don’t like Dangote because of his monopolistic tendencies in whatever sector he ventures into, I wouldn’t wish a govt takeover of the refinery.

Sometimes we have to enthrone reason over whatever primordial sentiments we might harbour.

If AMCON takes over the refinery, what’s the guarantee it won’t become just another Warri, Port Harcourt and Kaduna refinery?

Or become like Ajeokuta Steel plant?

Since AMCON took over Keystone, Enterprise, Heritage and one other banks, I don’t think those banks have been anything close to what they used to be.

But why will start of production at the refinery be pushed to 2025 for a refinery touted to be above 80% completed and is projected to start production by first quarter of 2022?

I doubt the veracity of this new claim abeg.

If AMCON takes over that refinery, that is the end.

Its never going to see the light of day. It will just become a haven for thugs and vandals who will have a filled day selling of the metal parts for scrap. And boy there is a shit ton of metal parts in there.

Ajaokuta Steel Mill in AMCONS hands has been there forever.

I don't hat Dangote. I don't like him either. But this project needs to happen.

I sense the hands of frustration elements in this. Some people do not want it to see the light of day.

the idea I think is MADNESS. the LAND IS 17 TIMES larger than VI. all for one man??
YORUBA greed is too much. they forget all foundation when money is involved !!!

baby124:
White elephant project. A refinery in tiny Lagos is a ridiculously stupid idea. Considering there are no standards in place in this country.

Overrated richest man in Nigeria.

tell that to INDIAN billionaire brother

9jaRealist:


SHEER ILLITERACY!

First, there’s a difference between personal debt and corporate debt…
Furthermore, a ledger has TWO columns - assets and liabilities. The $8.4 billion debt is OFFSET by the value of the refinery.

The ILLITERATE who wrote this “article” thinks this like the money the writer would borrow from his in-laws to buy boli…
On the corporation’s balance sheet, the value of the refinery is ADDED to its assets, and that’s likely to be MORE than any debt.
>

quentin06:


No you re a scam promoter.

I leave you to your conscience.

so they are refining FERTILIZER ?

9jaRealist:


Indians are NOT building the Dangote Refinery…
The main EPC contractor is Chinese, but Nigerians and Westerners are also involved.

Btw, the fertilizer plant is already up and running…
And has EXPORTED products to the US and Brazil in July!
>