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Nairaland Forum / Nairaland / General / Business / Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested (21966 Views)
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Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Vicadonis(m): 4:39pm On Oct 04, 2016 |
Aliko Dangote, president of of Dangote Group, says if the federal government offers to sell the Nigeria Liquefied Natural Gas (NLNG) to him on credit, he is not interested. Reacting to the criticisms that have trailed his advocacy for the sale of national assets, Dangote told THISDAY that his proposal was borne out of the desire to see Nigeria get out of the current economic recession. In an interview with CNBC Africa, the billionaire had said the government would be able to raise between $12 billion and $15 billion from the sale of the company. “If I had challenges in my company, I would not hesitate to sell assets, to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organisation,” he had said. “The African finance corporation; it can fetch them $800million easily. My own suggestion before was that they should even sell 100 percent of NLNG. I don’t think government should be in any business of investing in sectors of LNG. “A company like that, with earnings of $1.5 billion on the average, they should get anywhere between $12 billion and $15 billion.” The comment had generated reactions, with some saying the billionaire was interested in buying the company. But Dangote waved aside the criticisms, saying he offered the suggestions as “a true Nigerian who really wants the issues about the economy to be sorted out”. “You know the issue, once your reserves are low, the banks, entrepreneurs, including external forces, would definitely attack your currency. They would speculate on your currency,” he said. “We all know that the exchange rate of almost N500 to the dollar is not a true reflection of the value of the currency – the naira cannot be almost N500 to the dollar! “But you see, if this thing is not handled properly, it can get out of hand. It can get to N600 to the dollar, or even N700 to the dollar. “But the issue is, why did I suggest that we should sell some of the assets? I know the touchy one is the NLNG. I want to make it categorically clear that even if the government is selling NLNG on credit, I am not interested in buying. “I don’t have any interest in NLNG and I will not buy it. It is not a business that I want to invest in. It is a mature business; that is what people don’t understand. “You see, we should have invested heavily in all these Brass LNG, Olokola LNG, etc, when former President Olusegun Obasanjo started work on the projects, but we missed the opportunity. “Today, you have massive LNG projects that have been done by Qatar, Australia and the United States is also exporting. But right now, all the gas that we have is even in the ground. Even Mozambique has a massive amount of gas and also Tanzania, and they are nearer to the markets than we are. “So, if somebody is even going to invest in LNG, he would go to those areas and invest there and not here in Nigeria, because the investment here is daunting. So my own suggestion is that even if we must sell, it doesn’t have to be 100 per cent of our interest in NLNG.” https://www.thecable.ng/dangote-even-if-fg-wants-to-sell-nlng-on-credit-i-am-not-interested?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ThecableTopStories+%28TheCable+%C2%BB+Top+Stories%29 7 Likes 1 Share
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Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by youngPA: 4:41pm On Oct 04, 2016 |
“But the issue is, why did I suggest that we should sell some of the assets? I know the touchy one is the NLNG. I want to make it categorically clear that even if the government is selling NLNG on credit, I am not interested in buying. “I don’t have any interest in NLNG and I will not buy it. It is not a business that I want to invest in. It is a mature business; that is what people don’t understand." Oga Dangote, you must buy ![]() 83 Likes 4 Shares |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Vicadonis(m): 4:42pm On Oct 04, 2016 |
Hmmmmmn. He has seen the handwriting of Nigerians on the wall and decided to back out. We know your plan is to buy the whole of Nigeria. But e no go happen 66 Likes 3 Shares |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Cutehector(m): 4:44pm On Oct 04, 2016 |
![]() No, u must buy it 6 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Nobody: 4:46pm On Oct 04, 2016 |
Deceiving Nigerians. He will use another company, a front to buy it. 66 Likes 1 Share |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by sinaj(f): 4:52pm On Oct 04, 2016 |
Cutehector:na force ni ![]() Seems he is afraid of criticism Sell this, sell that and the money will still end up in their pocket. They should just sell Nigeria and give us our share abeg ![]() 64 Likes 1 Share |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Cutehector(m): 4:57pm On Oct 04, 2016 |
sinaj:look it dis one, can u chop 1million in one day? 2 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Nobody: 5:33pm On Oct 04, 2016 |
I always knew he was never interested. If he was interested he would have used someone else to raise the issue of selling.... 21 Likes 2 Shares |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by sinaj(f): 6:05pm On Oct 04, 2016 |
Cutehector:ur mate de use am wash hand for club ![]() 22 Likes 1 Share |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Cutehector(m): 7:22pm On Oct 04, 2016 |
sinaj:Kai.. uwa mmebi! 2 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by sinaj(f): 8:34pm On Oct 04, 2016 |
Cutehector:ezibote Uwa mmebi ![]() 2 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by fulaniHERDSman(m): 7:00am On Oct 05, 2016 |
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Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by koladebrainiac(m): 7:01am On Oct 05, 2016 |
see wash 6 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Boleyndynasty2(f): 7:01am On Oct 05, 2016 |
Interesting...you're no longer interested or you were never interested? 7 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by TheBlessedMAN: 7:02am On Oct 05, 2016 |
if a whole dangote can say datt......... Then am also saying that if I want to come back to dis world and God included dis recessive Nigeria among my designated option. I will also humbly tell God dat am not intrested....... Being d devils right hand man is presently better Dan being a Nigerian....... 12 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by JEWELCOSMETICS: 7:02am On Oct 05, 2016 |
Ok |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Lero15(m): 7:02am On Oct 05, 2016 |
Hmmm All these politicians sef. Their wages and allowances are enough assets! Nigeria is rich. We don't need to sell anything but reduce their income. Let change begin from them cos the change has since begun from our side since last year! ![]() 16 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by whisper88(m): 7:03am On Oct 05, 2016 |
Y 2 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Fringes(m): 7:03am On Oct 05, 2016 |
I have learnt to ignore those who specialise in criticizing the successful and have nothing to show for it. So they hug the internet and run around as paper and internet warriors with little think-abilities. As though they would be half as philanthropic or as reasonable as Aliko if they were in his shoes. The man is a GCON, shrewd business man and knows the workings of government and governance. That's why he is such an Octopus. He holds a degree in Law too, amidst others. So he isn't talking without far greater knowledge than many critics. You don't go criticizing him in shallow fashion(s) or irresponsibly. Many religious leaders that many critics virtually "worship" without question may have as much resources as Dangote might have access to yet only a few like Bishop Kukah and Pastor Bakare live almost regular lifestyles while still regularly contributing their opinions to National discourse regularly. Dangote has already grown a business empire larger than Nigeria. He doesn't need to want to buy Nigeria. He already contributes significantly to our GDP already. What the rest of us should do isn't to criticise his every word and action but to work hard to establish our individual selves too - with God helping each one of us. Everything we see is controlled by an unseen Hand that controls the Universe - the Omnipotent God. So why focus negative energy, not only on APC/Buhari/Tinubu but now Dangote? Why the baseless bile? *P.S: I don't know Dangote and have absolutely no links with him/his business.* 27 Likes 1 Share |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by DozieInc(m): 7:04am On Oct 05, 2016 |
Is NLNG the only national asset we have, what about Ajaokuta steel company. 3 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Firefire(m): 7:04am On Oct 05, 2016 |
Lies from the pit of hell, 6 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Nobody: 7:04am On Oct 05, 2016 |
12b dollars? But Buhari has recovered more than this amount nah from loots 13 Likes 1 Share |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by chuose2: 7:04am On Oct 05, 2016 |
[size=14pt]na so the denial starts oh! Dem wan carry the wetin God give us and sell the people that have jack! Yet thanks to the west now rule us, when we have the resources and man power. PS NYSC was just set up to take intellect to the north. We are more than them in number, more educated and more blessed by Jesus. Na why dem dey fight NDA. Without the south, the north has no resource or man power [/size] 8 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Youngzedd(m): 7:05am On Oct 05, 2016 |
Believe this and believe anything. |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by adeniyitheprof(m): 7:05am On Oct 05, 2016 |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Udmaster(m): 7:05am On Oct 05, 2016 |
NONSENSE! He will use another company as a proxy to "buy" it. 7 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by princemedico: 7:05am On Oct 05, 2016 |
He should tell that to himself. If you believe this you are the most gullible of all. He is speaking like he cares, a billionaire that is dragging bottled water business with average millionaires. He should try something else, story for the gods. 11 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by chiedu7: 7:05am On Oct 05, 2016 |
Classic denial first and then something happens and he changes his mind to buy it. ![]() Well I thank God for IPOB & NDA, na dem go get say pass. ![]() |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Nobody: 7:06am On Oct 05, 2016 |
Na now when FG talk say them no dey sell again, him con get liver to talk. Yeyenatu 1 Like |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by divinelove(m): 7:06am On Oct 05, 2016 |
![]() 5 Likes |
Re: Dangote: Even If FG Wants To Sell NLNG On Credit, I Am Not Interested by Nobody: 7:06am On Oct 05, 2016 |
na so |
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