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Nairaland Forum / Nairaland / General / Business / Dangote Refinery Begins Operations (38612 Views)
Dangote Refinery Begins Reselling Of Imported Crude Oil Amid Domestic Crisis / Dangote Refinery Begins Operations Amid Lingering Fuel Crisis / Giant Dangote Oil Refinery Begins Production In 3rd Quarter (2) (3) (4)
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Re: Dangote Refinery Begins Operations by Dobodobo04: 1:40am On Jan 13 |
coleon: Not entirely true. If Dangote buys Nigeria’s crude at market rate, he refines the crude, sell to Nigerians at competitive rate in Naira, sell to international market also at competitive rate and hopefully make profit from both local and international market to pay off his debt and keep the refinery operating. If he sells to the Nigerian market in Naira, which he should do by law, there would be less burden on forex. Don’t forget that some of the crude derivatives have bigger demand overseas than in Nigeria, so he should be able to attract forex with ease in the overseas market. Only way there could be a problem is if he has no money to buy crude. As long as he buys his crude in Naira equivalent of a USD/barrel and sells to Nigeria in Naira , no issue. Also, we avoid Dollar/Naira volatility. If Dangote buys let’s say 600,000 barrels from Nigeria a day from now for the whole year 600,000 x 366 x (78 Dollar/b *800 exc rate)= Approx N15 trillion Naira stays in Nigeria. Which can be used to fund half of our budget a year. Also, that’s N15 trillion naira staying in Nigeria. Imagine the multiplier effects on the economy!! 2 Likes |
Re: Dangote Refinery Begins Operations by Bimpe29: 1:41am On Jan 13 |
Alihamdulillahi Rabili Alameen, this is a good news. |
Re: Dangote Refinery Begins Operations by Horus(m): 1:42am On Jan 13 |
Re: Dangote Refinery Begins Operations by Xiaohei(m): 1:47am On Jan 13 |
YorubaIsGreat: Shut your mouth abeg! This hardship for Nigeria dey touch everybody Yoruba, Hausa, Igbo, and other tribes. If Nigeria good na for everybody. So keep your ethnic bigotry out of this beautiful thread. Dangote no be Hausa man? You hear Hausas dey shout? Carry your dirty ethnic rhetorics go far. Na better Nigeria everybody dey crave for. 4 Likes 1 Share |
Re: Dangote Refinery Begins Operations by loswhite(m): 1:49am On Jan 13 |
Wainey:Lol you can lie sha |
Re: Dangote Refinery Begins Operations by Weregonnalose: 1:57am On Jan 13 |
Dobodobo04:Make him start with buying $100 crude na. The profit from that, add am to the capital n buy more crude |
Re: Dangote Refinery Begins Operations by pquaver(m): 2:03am On Jan 13 |
Abusufian: Delusion + obidients = 5&6 1 Like |
Re: Dangote Refinery Begins Operations by Rolings: 2:08am On Jan 13 |
God1000: We still refined our oil last month now |
Re: Dangote Refinery Begins Operations by pquaver(m): 2:09am On Jan 13 |
Wainey: Give am back joor.. No gree for obidients this 2024.. They dont have the monopoly |
Re: Dangote Refinery Begins Operations by wiseoneking: 2:12am On Jan 13 |
God1000:The fuel price will still increase as a result of this making the innocent poor dirt Naija to wallow in poverty. This exactly happened when he built his infamous gigantic cement at obajana , kogi state. We were all excited that cement price will drop because of reduced importation, but the result was the opposite. Be ready to see fuel cost rise. Nothing in Nigeria is designed to Favour the masses especially when it is coming from Dangote 2 Likes 1 Share |
Re: Dangote Refinery Begins Operations by Lenabos: 2:20am On Jan 13 |
Spuggie:Even if the price of PMS doesn't it fall, it will reduce our heavy reliance on dollars as a means of exchange internationally. |
Re: Dangote Refinery Begins Operations by loswhite(m): 2:44am On Jan 13 |
Afy91:Naija na Cruz no mean say you no go get sense small |
Re: Dangote Refinery Begins Operations by loswhite(m): 2:45am On Jan 13 |
Dee60:The crude was imported from where? Let us know oga. The rate at which ppl confidently type what they don't know is quite amazing. |
Re: Dangote Refinery Begins Operations by loswhite(m): 2:50am On Jan 13 |
Fourfor4:Lol do you work there? Have you stayed close to any refinery before? Was there a refinery in Lagos before? Because the way you talk about CDU poor man pikin go think say you don stay inside refinery plant before. |
Re: Dangote Refinery Begins Operations by loswhite(m): 2:51am On Jan 13 |
Funkyswagzz:Lol Who told it will not produce fuel? |
Re: Dangote Refinery Begins Operations by loswhite(m): 2:55am On Jan 13 |
coputa:What is the capacity if the refinery? You guys just confidently type thrash |
Re: Dangote Refinery Begins Operations by eteebanky1: 3:11am On Jan 13 |
We have been longing for this God bless Aliko Dangote FG please, place a total ban on importation of all petroleum products, it's taking a toll on naira forex performance Make our naira breath abeg |
Re: Dangote Refinery Begins Operations by slimthugchimee2(m): 3:11am On Jan 13 |
Brendaniel: Forex savings Employment Removing government from running businesses in Nigeria Progress and growth around that location that will also create indirect employment So I now ask you What have you done to add value to me or Nigeria? 1 Like |
Re: Dangote Refinery Begins Operations by slimthugchimee2(m): 3:18am On Jan 13 |
Dee60: Crude from the refinery is not imported, it's gotten from Agbani oil well in nigeria |
Re: Dangote Refinery Begins Operations by slimthugchimee2(m): 3:23am On Jan 13 |
happney65: God bless capitalism Anything with govt hands always turns to nonsense Govt shouldn't be running businesses, they should use all that money to fix the basic amenities for business to thrive That is Good transport Power Security Etc 1 Like 1 Share |
Re: Dangote Refinery Begins Operations by nedekid: 3:25am On Jan 13 |
eliyke:No be naija? Tori must dey.. Anyway, to make dollar rest small, it is to quickly commence the proposed currency swap arrangement with China. They buy our crude, produce and raw material, we buy their products. Eg, why will I want to buy something on aliexpress, but have to change my money to dollars, before paying? It does not make sense. Currency sway will reduce the demand for $. 1 Like 1 Share |
Re: Dangote Refinery Begins Operations by HussenAdul: 3:36am On Jan 13 |
ManirBK:Does it have effect in the life of average citizens? The hardship is too much |
Re: Dangote Refinery Begins Operations by coputa(m): 3:44am On Jan 13 |
Jackiedemie:Apart from oil, Nigeria import other products 1 Like |
Re: Dangote Refinery Begins Operations by Good2go1: 5:18am On Jan 13 |
Just the play, the good news is that people like us have positioned waiting for the shares to be made public so that we can partake in sharing of the loot UrPapa: |
Re: Dangote Refinery Begins Operations by phemray(m): 5:28am On Jan 13 |
Wainey: Lolzz, but why are you hearing alone and not seeing anything? Maybe you have to visit ibeju lekki oooo,lolzz🤣 |
Re: Dangote Refinery Begins Operations by bentenny(m): 5:30am On Jan 13 |
ManirBK:Nah Tinubu get the refinery or dangote? 1 Like 2 Shares |
Re: Dangote Refinery Begins Operations by PortHarcourtcit(m): 5:33am On Jan 13 |
Kukutente23:they don't have the license to produce pms... Only AGO, JET A1 and KEROSENE... |
Re: Dangote Refinery Begins Operations by Fourfor4: 5:34am On Jan 13 |
coputa:Bros, open your eyes pls. Just one of his tanks is 120,000,000million ltrs. Now imagine so many tanks (if not more thank 50) in the refinery. So lots, cos I work there. |
Re: Dangote Refinery Begins Operations by Enemiesmasquera: 5:37am On Jan 13 |
YorubaIsGreat:Seun do the needful |
Re: Dangote Refinery Begins Operations by Fourfor4: 5:44am On Jan 13 |
loswhite:Bros, calm down. I currently work there |
Re: Dangote Refinery Begins Operations by Navalsadiq(m): 5:46am On Jan 13 |
Jagaban is stepping up |
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