Funkyswagzz:


You can't get anything it cos this development was of recent I knew about this refinery since 2014 when he wanted to build it at ondo state. You can't tell me what I already know

I showed you a May 2023 article where it was boldly written that the refinery will also produce fuel.

Brendaniel:


And what would that benefit you?

I think his happiness should be that our dollars will no longer be exported out so much

Funkyswagzz:


You can't get anything it cos this development was of recent I knew about this refinery since 2014 when he wanted to build it at ondo state. You can't tell me what I already know

https://www.reuters.com/article/idUSKCN1UY27N/

This is a 2019 article by Reuters, it was also written there that the Dangote refinery will produce fuel.

Good news

ManirBK:


https://leadership.ng/breaking-dangote-refinery-begins-operations/

Funkyswagzz:


You can't get anything it cos this development was of recent I knew about this refinery since 2014 when he wanted to build it at ondo state. You can't tell me what I already know

This is a 2018 article by Bloomberg.

https://www.bloomberg.com/news/articles/2018-07-06/billionaire-dangote-readies-refinery-for-2020-talks-with-vitol


The Dangote refinery will take care of Nigeria petrol need 100% and still have petrol left to export to other African countries.

Kukutente23:
This is good if true

Let's hope they are able to produce PMS ASAP

And bring the expected positive impact on the economy

Not yet, PMS will be the last to be produced,
according to news from them

Why can't we resuscitate our national refineries?
This is baffling!

Brendaniel:


I never said you should be sad, I am only asking for your benefit?

It will make the currency stronger ...

caracas:

Keep fooling yourself

hey you! BEHAVE

ManirBK:
Good news
No bad mouth abeg!

God bless Tinubu

Shey na Tinubu do am?

why do you say so?

kokoA:
If I'm buying petrol for 650naira and I know it's being produced in Nigeria I wouldn't mind.

Nigeria cant manage government owned properties, what Government need to do is give more license to private company and investors to build refinery.

DaddyCash:
Why can't we resuscitate our national refineries?
This is baffling!

Fearyourcreator:

So the richest blackman in the world borrowed the whole money to do a $19b project... Okay na

Do you think a Man can be so Rich and single handedly handle such project as Dangote Refinery...

Then how come Federal Government is fully involved?

You don't know how to ask questions.. where your problem lies..

OctavianAC:


I think his happiness should be that our dollars will no longer be exported out so much

Well I have been expecting this answer since, but the major reason our naira is falling is not due to importation, but corruption....

Jackiedemie:



How much do they spend in other imports compared to petroleum products...
We are talking about the percentage spending not actual amount.

minerals, fuel, oil and distillation products account for 40% of Nigeria import, the other 60% is for cars, electronics, households etc,so fuel ain't nigeria only import

Paraman:
This is a 2018 article by Bloomberg.

https://www.bloomberg.com/news/articles/2018-07-06/billionaire-dangote-readies-refinery-for-2020-talks-with-vitol


The Dangote refinery will take care of Nigeria petrol need 100% and still have petrol left to export to other African countries.

Did u even read this stuff u sent me

Paraman:
https://www.reuters.com/article/idUSKCN1UY27N/

This is a 2019 article by Reuters, it was also written there that the Dangote refinery will produce fuel.

You see what will end this argument is when they start shipping the end product.

Funkyswagzz:


Did u even read this stuff u sent me

Did you even read the article? Look at the screenshot below if you don't have enough data to go through the article.

I have shared numerous article with you to show Dangote refinery had plans of producing petrol even before he started constructing the refinery.

How can Dangote build a refinery that won't be refining petrol. Is so foolish for you to believe such a thing sef

Funkyswagzz:


You see what will end this argument is when they start shipping the end product.

I'm not having an argument with you because you are ignorant about the issue at hand. Is insane for anybody to even say the Dangote refinery had no plans to produce petrol before.

You're ignorant on the issue at hand, and I am enlightening you on the issue.

Everybody knows the Dangote refinery will be refining petrol except you

Paraman:
Lol... I know you're in lots of pains

A lot of people like you are fraustrated in life. If not for how fraustrated you're, there's no way you will start behaving aggressive towards people online. Coward!

Dangote himself thanked Tinubu before he even became the president, a fraustrated lowlife like you can keep on wailing on nairaland because of how fraustrated you are.

Jonathan spent 6 years in power, Buhari and Obasanjo spent 8 years in power each, they should have gotten the PH refinery working if it's that easy.

The PH refinery is ready for operation and presently going through a test run, if you can't wait for the test run to be over, it's your palava.

You're an slowpoke and I don't have your time, it's obvious poverty is your foundational inheritance that's why you feel that any one that opposes your internationally certified druggie is in your category of financial impoverishment. But your myopic brain has failed to highlight one thing that Tinubu contributed to the Dangote refinery aside the looted funds he stole while in public offices. With or without a functional refinery, Nigerian economy was among the fastest growing in the world until the cancerous Apc came into power.

coputa:
minerals, fuel, oil and distillation products account for 40% of Nigeria import, the other 60% is for cars, electronics, households etc,so fuel ain't nigeria only import

Hahaha, So 40% trunk of import is like a child's play to you...
Mind you others imports have close substitute unlike feul

theowane:

Are you OK at all?!
Even if we are all criticising Buhari, he should take 90% of the glory.

Those who facilitate the siting of the refinery at Ibeju Lekki should take the glory.
Guess who?, the person is still Tinubu.

coleon:

I have consistently informed anybody that cares to read on this forum that Dangote will not boost Nigeria's forex earnings and you are still making this nonsense submission.
PresentlyNigeria is exporting her crude oil to earn FX or adopting the NNPC model to swap crude for petrol. Either way crude and fx change hands.
Now if instead of using that crude to get FX you give Dangote to refine then the alternative forgone is FX that should have been earned selling the crude. If after Dangote refines and he exports then the crude returns to Nigeria for which he will repay shell and co that he sources the crude from.
Now any profit Dangote makes in the process will go into settling his enormous debt for the refinery or his escrow account offshore which is the model all the oil companies in Nigeria runs.
They all do not save any of their proceeds in Nigeria but with JP Morgan chase in US and you can't blame them because the oil market is internationally denominated in USD.
So please and please forget Dangote to come and solve your FX problems for you and look elsewhere.

As long as Nigeria won't be spending her scarce FX to import fuel and pay some stinking fuel subsidies, better days are here.

Fearyourcreator:

It will make the currency stronger ...

How?

Dobodobo04:


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!!

Stop explaining to folks like this, a smart 10 years old will solve this kinds of equation.
What they wish the country is about to hit them, their projections for petrol and dollar has run into a ditch.
Let them sell their #1,200 per liter petrol on X, Nigerians will buy from Dangote.
God bless Nigeria.

Paraman:
I'm not having an argument with you because you are ignorant about the issue at hand. Is insane for anybody to even say the Dangote refinery had no plans to produce petrol before.

You're ignorant on the issue at hand, and I am enlightening you on the issue.

Everybody knows the Dangote refinery will be refining petrol except you

Even the screen shot u sent me is the same thing I've being telling you look at the 3 things they mentioned were did u pms? Or are you considering aviation fuel as pms. Which kind blind argument be dis abeg!

Funkyswagzz:


Even the screen shot u sent me is the same thing I've being telling you look at the 3 things they mentioned were did u pms? Or are you considering aviation fuel as pms. Which kind blind argument be dis abeg!

Lol

So you didn't see Gasoline in the screenshot I shared with you?

Oh! You don't know what gasoline mean right?

I've shared more than 3 articles with you, instead of you to read and learn, you choose to keep on arguing like a stark illiterate.

Gasoline is the same as petrol guy

happney65:


The ball stops at the table of the president and not NLC and TUC.

The reversal was due to the fact that Yaradua was a socialist who believed government has a business doing business whereas it is the other way round.

Government has no business doing business hence Obasanjo selling it off as he knew it won't work

Government itself is a business so what nonsense are you saying.

Government has every business doing business because that is the way to provide federal jobs for it's citizens.

Brendaniel:


How?

Go learn simple economics

fitinwell:


Do you think a Man can be so Rich and single handedly handle such project as Dangote Refinery...

Then how come Federal Government is fully involved?

You don't know how to ask questions.. where your problem lies..

Wahala dey ooo...

Fearyourcreator:

Go learn simple economics

I have learnt simple and complex economics, but you should be able to explain what you are claiming....