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Dangote Refinery Will Crash Dollars - Business (2) - Nairaland

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My Refinery Will Reduce Fuel Price In Nigeria – Dangote ( Pic ) / Our Refinery Will Supply First Product To Market By July, Says Dangote / Dangote: My Refinery Will Be Completed By The End Of 2021 (2) (3) (4)

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Re: Dangote Refinery Will Crash Dollars by YesDaddyTill203: 5:07pm On Sep 03
Curious346:
Dey play . Nothing like that. Yoruba killed the naira, after nupe devalued it through SAP.
Igbo via okonjo iweala nurtured the dollar until the RONU destroyed it

Empty IPOB's low IQ skull only sees things from a tribal and religious perspective. Shame.

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Re: Dangote Refinery Will Crash Dollars by MystiiqueB: 5:07pm On Sep 03
If will not crash dollar
Re: Dangote Refinery Will Crash Dollars by AfolabiGwin(m): 5:08pm On Sep 03
Hmmm

Re: Dangote Refinery Will Crash Dollars by achorladey: 5:08pm On Sep 03
flokii:
Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.

That's why we need to ask the question.


What is of Nigeria that is working for Nigerians.

Until what is of this country start working for this country that value of naira can then rise.

2 Likes

Re: Dangote Refinery Will Crash Dollars by Curious346: 5:09pm On Sep 03
Hnmmm. I'm ikwere not ipob
YesDaddyTill203:


Empty IPOB's low IQ skull only sees things from a tribal and religious perspective. Shame.
Re: Dangote Refinery Will Crash Dollars by TheChameleon: 5:10pm On Sep 03
I support FG. I'm a very patriotic Nigerian.

BUT I doubt it. undecided
Re: Dangote Refinery Will Crash Dollars by ednut1(m): 5:11pm On Sep 03
Ikaeniyan0:
The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

The CBN will now have more dollars at their disposal
the crude oil they are giving dangote will reduce CBN Fax earnings tho
Re: Dangote Refinery Will Crash Dollars by Ikaeniyan0: 5:12pm On Sep 03
ednut1:
the crude oil they are giving dangote will reduce CBN Fax earnings tho
Yea, but we won't need billions of dollars to import petrol

1 Like

Re: Dangote Refinery Will Crash Dollars by tj2018: 5:12pm On Sep 03
Dreamer
flokii:
Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.
Re: Dangote Refinery Will Crash Dollars by PARADIZEPRIEST: 5:12pm On Sep 03
IF LOCAL MARKETERS BUY FUEL FROM DANGOTE WITH NAIRA,DEMAND FOR DOLLARS TO IMPORT PETROL WILL REDUCE BY PERCENTAGE THE DEMAND IS MET angry

1 Like

Re: Dangote Refinery Will Crash Dollars by Moony45: 5:13pm On Sep 03
Ikaeniyan0:
So because it was devalued, it now means it can't gain value again?

There's a reason the government devalued the naira twice and I doubt you know why

The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.
No, it wont gain
Re: Dangote Refinery Will Crash Dollars by Matheusmartin: 5:13pm On Sep 03
flokii:
Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.
.
Getat jor.
Cho cho cho,yet dollar dy rise steadily.
Mtcheww
Re: Dangote Refinery Will Crash Dollars by SmartPolician: 5:13pm On Sep 03
flokii:


Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.

This is what they call gaslighting people.

Which economy is recovering?

4 Likes

Re: Dangote Refinery Will Crash Dollars by Lukuluku69(m): 5:13pm On Sep 03
Let the Refinery crash PMS Price first....
Re: Dangote Refinery Will Crash Dollars by RealityKings: 5:13pm On Sep 03
Lol am I reading this right or I actually got the joke
gare:


it should, 2014 N1.6m was about $8k, now same amount is about $650
Re: Dangote Refinery Will Crash Dollars by NhlanhlaS944: 5:14pm On Sep 03
;Poor people
Re: Dangote Refinery Will Crash Dollars by Sultty(m): 5:16pm On Sep 03
Ikaeniyan0:
So because it was devalued, it now means it can't gain value again?

There's a reason the government devalued the naira twice and I doubt you know why

The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.
looks beautiful on paper until it goes south or balablu
Re: Dangote Refinery Will Crash Dollars by tefund(m): 5:16pm On Sep 03
ednut1:
the crude oil they are giving dangote will reduce CBN Fax earnings tho
Exactly,it is ways, less dollar coming to FG,probable less demand for dollar..
Re: Dangote Refinery Will Crash Dollars by jaxxy(m): 5:18pm On Sep 03
Not really and if at all it will be temporary cos we are not exporting anything to attract dollars and we import and hoard dollars locally.
Re: Dangote Refinery Will Crash Dollars by RodgersAkpafu: 5:18pm On Sep 03
flokii:
Are people still hoarding dollars with the way economy is recovering gradually?.. Once demand for FX drops, the high exchage rate too will drop.
How I wish PBAT Government can tackle importation and let's move from consumption (import dependance) to production (industrialization). This will make naira gain massively in the FX market. Exchange rate can reduce to less than #500 to a dollar.

time will be the judge of that
Re: Dangote Refinery Will Crash Dollars by kedeojo(m): 5:20pm On Sep 03
Bobodee09:
Why are advising hoarders of dollars.

By October they will know howfar.

Can you all see how independent marketers are very quiet., trust me many fueling station will close up before December.
They are the greedy thieves. I like the fact that NNPLC will be the sole buyer of dangote PMS. It now up to president Tinubu because he will be the major determinant. A reduction in price of crude by government sold to dangote to refine and also sold back to NNPLC who has now said they owned more than 100k retail outlet, then government will fix the prices of PMS to be sold to Nigerian's.

2 Likes

Re: Dangote Refinery Will Crash Dollars by Kaa4(m): 5:20pm On Sep 03
Curious346:
Dey play . Nothing like that. Yoruba killed the naira, after nupe devalued it through SAP.
Igbo via okonjo iweala nurtured the dollar until the RONU destroyed it
I feel you!!!
Re: Dangote Refinery Will Crash Dollars by KaLuCh: 5:20pm On Sep 03
Ikaeniyan0:
So because it was devalued, it now means it can't gain value again?

There's a reason the government devalued the naira twice and I doubt you know why

The pressure on the naira will really reduce because we won't need to be spending billions of dollars on importing petrol again.

Uhm...

The demand of fx reduces, but supply also reduces. How does that improve the value of naira?
Re: Dangote Refinery Will Crash Dollars by Kaa4(m): 5:21pm On Sep 03
kedeojo:
They are the greedy thieves. I like the fact that NNPLC will be the sole buyer of dangote PMS. It now up to president Tinubu because he will be the major determinant. A reduction of crude by government sold to dangote to refine and also sold back to NNPLC who has now said they owned more than 100k retail outlet and will now fix the prices of PMS to be sold to Nigerian's.
NNPCL does not own any retail outlet again. Tinubu don buy them
Re: Dangote Refinery Will Crash Dollars by Curious346: 5:22pm On Sep 03
Kaa4:
NNPCL does not own any retail outlet again. Tinubu don buy them

No be lie
Re: Dangote Refinery Will Crash Dollars by tefund(m): 5:23pm On Sep 03
Ikaeniyan0:
Yea, but we won't need billions of dollars to import petrol
And don't forget dangote will need dollar to start paying back the borrowed loan,dollar for machine spare parts and maintenance,dollar for more American oil supply,I can tell you nnpc would not meet %100 of dangote crude supply..
Re: Dangote Refinery Will Crash Dollars by HugoBoss10(m): 5:23pm On Sep 03
commoditiesnig:

Very true

Economy does not improve on assumption!
It does not work that way cool
Re: Dangote Refinery Will Crash Dollars by Image123(m): 5:27pm On Sep 03
It will not necessarily crash dollar rate but stabilize it over the long term.
Re: Dangote Refinery Will Crash Dollars by kedeojo(m): 5:27pm On Sep 03
Kaa4:
I feel you!!!
which dollar did Okonjo fix. Now Okonjo is Igbo but the first coup plotter that kill some Yorubas and mostly Northern military men and left out his tribesmen, Nzogwu, up till date, you people are still saying he is from delta north but forgot same Okonjo is also from delta north you people praised at any given time. Most of you are really an hypocrite.

1 Like

Re: Dangote Refinery Will Crash Dollars by wisepigeon: 5:28pm On Sep 03
xprojectlive:
sell ur dollars now

Does anything that goes up come down in Naija? Lets cross our fingers and see if this theory will change
Re: Dangote Refinery Will Crash Dollars by okoroemeka(m): 5:29pm On Sep 03
Naira20:
Don't sell your dollars o....
If you can, buy more and store away from Nigerian banks.
The single most consumer of forex is the importation of hydrocarbons and its allies,fertilizer,polythene and PVC ,this materials gulp almost 40-50% of forex needed for imports if the government is sincere to play it's own role but from what I am seeing NNPC and local refineries playing open monkey it will be a big IF
Re: Dangote Refinery Will Crash Dollars by malton: 5:29pm On Sep 03
You may see a marginal rise in the value of the naira. Nothing more.

By the way, how did this lazy submission make FP? Nairaland nowadays.

1 Like

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