rvp2018:
Where will Dangote get dollars. Focus on improving oil and gas production. Well I dont think you'll consume all the 650,000 barrels so Dangote may be able to sell refined fuel - but Dangote thing is facing a billion dollar shortfall - I dont see that refinery getting off ground in the next 5yrs.

GeneralDae2:

Sure. But at least the currency would become more stable (because PMS and Subsidy together eat up so much of the forex) and we can focus on our non oil sector as well as gas exports by completing our gas infrastructures.
Gas exports half year already are at 3.81 Billion dollars and the Nigerian Government owns 49% of NLNG as well.
I don't agree with the devaluation of the naira just yet because it increases the cost of debt servicing overnight but I agree that subsidy must go.
Also India is a major exporter of refined crude and not crude oil and I think that benefits them more.

gallivant:


Silly hobbit...

Don't you know Kenya is the biggest producer of wind energy in Africa? Biggest production of Geothermal energy in the world? One of the largest installed grid solar and wind generation in Africa?

Keep dwelling in stupidity.

gallivant:


Silly hobbit...

Don't you know Kenya is the biggest producer of wind energy in Africa? Biggest production of Geothermal energy in the world? One of the largest installed grid solar and wind generation in Africa?

Keep dwelling in stupidity.

samorobo:


Lol give it up, I know you desperately wants us to derail like your zoo. You know what they say,” misery loves company “.

Newsflash some section of the refinery has started commissioning. Come mid 2023 a d we are selling hot oil and making hot dollar. You will weep and will be here taunting you for my amusement.

QuietMynd:

Refined petro products acct for 40% of total import.
Imagine the effect it will have on the naira, gdp will surely jump to nothing less than $750bn, gdp per capital go hear am, price of food will reduce, power transmission upgrading will have been completed by then, investor go dey rush economy like agege bread

vankelvin:

Kenya has done all that so it makes sense for Kenya to now promote the use of firewood or charcoal? I wish you knew how stupid you sound

rvp2018:
Biomas (charcoal+firewood) will continue to be main source of cooking for quite some time in rural Africa. We should focus on making it more cleaner and efficient - and embracing commercial tree farming to replace it. You can focus on reducing thermal (diesel oil) that you generate most of Ghana power first.

Just40:
all Ghana thermal units run on natural gas

Focus more on using there water you pump into the earth to supply thirsty Kenyans who rely on streams as source of drinking water

rvp2018:
Pray it doesnt die - Dangote is indebted to the gills - 7B dollars - and still need 1B dollars to complete it. The cost has shot up from 12B dollars to now 19B dollars.

The refinery cost grew to $19 billion after initial estimates of $12-$14 billion and years of delays. State oil company NNPC, which last year acquired a 20% stake in the refinery for $2.76 billion, said that it expects the refinery to start in the first quarter of 2023.

rvp2018:
False hopes. There will be a similar drop in crude oil export. You can ramp up oil production - to meet OPEC quotas - and that is when we shall see impact.

samorobo:

Lol no get a grip ifbb b yourself. We would be selling the final product if crude oil as well as the raw oil itself. Joe tgats is making the entire money of that value chain,unlike when we sell to Europe then import the final product twice that price - we aren’t only saving the forex but also entertaining a serious boom. Be scared ,africa won’t see our butts.

rvp2018:
Cost of refining crude is 3-5 dollars a barrel. Only Dangote will eventually become very rich. I dont see much impact on Nigeria economy. Going by 20B investment - that he will need to recoup - it will become another cement or rice - more expensive internally - than imported. Dangote will ask Abuja to ban import of cheaper refined products so he can monopolize it - and will load his expensive refined products on Nigerians.

Until you reform your economy from the Northern Elite Capture of Abuja led by Dangote - expect to see few fat cats and a HUGE ZOO.

In simple English - just like you buy cement or sugar or any Dangote product very expensively - expect the same on his refined fuel - as he will load his cost to poor Nigerians.

GeneralDae2:

Dangote is heavily indebted to Nigerian Banks for the project after the cost increased from his initially planned 12 billion dollars to 19 billion dollars because he had to build his own small Dangote deep port in lekki and provide some road infrastructures amongst other additional infrastructures due to problems that arose from 2016 after the initial planning and design.

However, by the time the proceeds from the refinery start flowing back to Nigerian banks who provided Dangote over 90% of the debts, that would be beneficial to the Nigerian economy.

Nigeria would not have to pay subsidy, that is beneficial. If Dangote buys crude in naira, it would improve the naira, even if we only supply 500,000 barrels per day to the world from our usual 1 million barrels, we would still benefit because oil prices are still likely to remain high for a while. If the other refineries owned by NNPC come on board within the next two years and we fix power supply, we may not even have to depend on Dangote for local supplies, he'll just export.

No matter how you look at it, it's very beneficial to the Nigerian economy.

rvp2018:
Cost of refining crude is 3-5 dollars a barrel. Only Dangote will eventually become very rich. I dont see much impact on Nigeria economy. Going by 20B investment - that he will need to recoup - it will become another cement or rice - more expensive internally - than imported. Dangote will ask Abuja to ban import of cheaper refined products so he can monopolize it - and will load his expensive refined products on Nigerians.

Until you reform your economy from the Northern Elite Capture of Abuja led by Dangote - expect to see few fat cats and a HUGE ZOO.

In simple English - just like you buy cement or sugar or any Dangote product very expensively - expect the same on his refined fuel - as he will load his cost to poor Nigerians.

GeneralDae2:

On the bolded, there is nothing Dangote sells astronomically higher than other suppliers in Nigeria.

rvp2018:
He controls the market then ask Abuja to ban cheaper imports. And they do as he wishes.

Dangote Cement controls 61 per cent of the market share, Lafarge Africa 22 per cent and BUA Cement the rest

Why dont you allow imports to come in freely if Dangote is competitive.

GeneralDae2:

Why allow imports, when we are by far the largest producers of cement in Africa?

rvp2018:
Pray it doesnt die - Dangote is indebted to the gills - 7B dollars - and still need 1B dollars to complete it. The cost has shot up from 12B dollars to now 19B dollars.

The refinery cost grew to $19 billion after initial estimates of $12-$14 billion and years of delays. State oil company NNPC, which last year acquired a 20% stake in the refinery for $2.76 billion, said that it expects the refinery to start in the first quarter of 2023.

rvp2018:
Manufacturing is only beneficial if it's competitive. If it's protected - it's a double whammy. It would be cheaper - freight factored - to import from more efficient Indian or South Korea refineries.

Look at you cement or rice - it's way more expensive than imported ones.

Basically, what need to happen is to give Dangotes few graces period to grow from infancy- then allow him to compete internationally - if they cannot compete - they close shop.

The problem with Africa - mostly Nigeria - few companies capture the state - they ban imports - enact monopolies or oligopies - and economy pays for their inefficiencies.

The first thing Dangote will do next year - is to ask Abuja to ban import of refined fuel.

rvp2018:
He controls the market then ask Abuja to ban cheaper imports. And they do as he wishes.

Dangote Cement controls 61 per cent of the market share, Lafarge Africa 22 per cent and BUA Cement the rest

Why dont you allow imports to come in freely if Dangote is competitive.

Just40:
next excuse will be, it is not 2023 report

Fourpockets:

Because, it would affect the naira. Dangote doesn't even ask government to ban things like people always say. The government willing does it because it would help local industry

rvp2018:
False hopes. There will be a similar drop in crude oil export. You can ramp up oil production - to meet OPEC quotas - and that is when we shall see impact.

rvp2018:
That was 2014-2016.

Today, approximately 16.6% of rural Ghanaian households rely on pipe-borne water as their main water supply, with 11% obtaining water from public standpipes (SPs) and the remaining 5.6% from private or shared household connections (GSS, 2014).

rvp2018:
Manufacturing is only beneficial if it's competitive. If it's protected - it's a double whammy. It would be cheaper - freight factored - to import from more efficient Indian or South Korea refineries.

Look at you cement or rice - it's way more expensive than imported ones.

Basically, what need to happen is to give Dangotes few graces period to grow from infancy- then allow him to compete internationally - if they cannot compete - they close shop.

The problem with Africa - mostly Nigeria - few companies capture the state - they ban imports - enact monopolies or oligopies - and economy pays for their inefficiencies.

The first thing Dangote will do next year - is to ask Abuja to ban import of refined fuel.

rvp2018:
Cost of refining crude is 3-5 dollars a barrel. Only Dangote will eventually become very rich. I dont see much impact on Nigeria economy. Going by 20B investment - that he will need to recoup - it will become another cement or rice - more expensive internally - than imported. Dangote will ask Abuja to ban import of cheaper refined products so he can monopolize it - and will load his expensive refined products on Nigerians.

Until you reform your economy from the Northern Elite Capture of Abuja led by Dangote - expect to see few fat cats and a HUGE ZOO.

In simple English - just like you buy cement or sugar or any Dangote product very expensively - expect the same on his refined fuel - as he will load his cost to poor Nigerians.

rvp2018:
He controls the market then ask Abuja to ban cheaper imports. And they do as he wishes.

Dangote Cement controls 61 per cent of the market share, Lafarge Africa 22 per cent and BUA Cement the rest

Why dont you allow imports to come in freely if Dangote is competitive.

Fourpockets:

The dangote refinery will be the most efficient in the world