deomelllo:



Not only petroleum products, we are also getting the largest fertilizer plant in Africa, largest petrochemical plant in Africa, largest Gas plant in Africa. we are basically going to be self sufficient in so many products, products that our manufacturers, farmers and the Nigerian government won't be spending our foreign exchange on.

The poster you quoted and his kind are the typical ignorant and unintelligent jokers you see running up and down on NL posting rubbish..

deji17:


Where are you getting this fake information from?
Assuming CBN assisted Dangote refinery in any way, do you know when last Nigeria was self sufficient in Petroleum products, without importation?


Bad belle no go kill you.

Billyonaire:
$42b is not worth the budget of California. California budget for 2018 is $190b.

So these morons should know we are not all from Daura.

Desyner:

Are you disputing the fact that Dangote got special treatment to help facilitate the construction of his oil refinery.

deji17:


You dey make my belle sweet with all these good, good information.

I know wailers will rather celebrate and rejoice over herdsmen / farmers clash and killing news instead of a good news like this. I wonder what they will be left with after the Govt succeed in quelling the herdsmen clashes.

deji17:


Read my earlier post on the issue, try and understand it and reply accordingly...

Desyner:
Foreign reserve are forex saved in order to cater for the Forex needs of an economy. They get saved before they are spent. When Buhari tookover folks like you pointed to what Norway and Saudi saved and now you suddenly realise it isn't a saving. Think before you post son.

Desyner:
You should have done your own proper reading and understand me before trying to be smart. . .

deomelllo:



Not only petroleum products, we are also getting the largest fertilizer plant in Africa, largest petrochemical plant in Africa, largest Gas plant in Africa. we are basically going to be self sufficient in so many products, products that our manufacturers, farmers and the Nigerian government won't be spending our foreign exchange on.

The poster you quoted and his kind are the typical ignorant and unintelligent jokers you see running up and down on NL posting rubbish..

Desyner:
It is a pity all those goodies are going to be under monopoly . . .

mrvitalis:

Oh boy learn some economics

That money don't belong to anybody it can't be shared
It can't be used to construct road or anything

It's just a stockpile of foreign currency that anyone can use to purchase goods abroad after paying the naira equivalent

The Naira is backed by dollar so the more the reserve the more strong and confidence investors have on the naira

You should pay me for this class

deji17:


For many years, no multi national or Nigerian company stepped forward to invest in a new refinery in Nigeria. Dangote did it, we should not use bad belle to pay back...
Moreover, FG is still open to new investors in the sector.
The sky is big enough for all the birds to fly..

deji17:


You dey make my belle sweet with all these good, good information.

I know wailers will rather celebrate and rejoice over herdsmen / farmers clash and killing news instead of a good news like this. I wonder what they will be left with after the Govt succeed in quelling the herdsmen clashes.

That the project would save the country about $7.5 billion annually in foreign exchange being used to import petroleum products and also generate $5 billion foreign exchange earnings annually.


https://www.cbn.co.za/component/k2/dangote-refinery-africa-s-biggest-refinery-takes-shape

Desyner:
Stop trying to disguise my own words to lecture me. I just schooled you assuming åss.
The optimum level of reserve for an economy is 3-6 months equivalent of the average monthly forex need.
Oya take that and go brainstorm on it for one hour then re-phrase it.

deji17:


But you kind of imply that Dangote got or is getting the $42 Billion USD to expand his business... That is what I contested..

mrvitalis:

Are you kidding me 3 months? Lol

So as a president you would leave our reserve to below 20 billion dollars?

And U expect and investor to invest billions of dollars?

You must be high
Would you put 2 billion in a bank whoes capital base is 7 billion? Even 30bn even

Oga go and sleep

deomelllo:








Even if we invest all our $42 billion savings, it won't guarantee or earn us $7.5 billion/per year. Whatever we helped Dangote with was money well spent and the best investment ever.

The $7.5 billion is more than enough to build many roads, bridges, hospitals, schools, universities and so on or even reinvested in similar ventures like Dangote refinery by other Nigerian industrialists.


These low intellect Igbos are sadists and miserable people.

What's god for Nigeria makes them sad and unhappy.

deji17:


But you kind of imply that Dangote got or is getting the $42 Billion USD to expand his business... That is what I contested..

Desyner:


Why not sample where "I kind of imply that Dangote got or is getting the $42 Billion USD to expand his business..." ?

Desyner:

What is the use of the change if all the cash is used to facilitate Dangote's expansion at the expense of Nigerias infrastructure? You must think you have successfully disguised as a patriot.

Desyner:
Why not sample where "I kind of imply that Dangote got or is getting the $42 Billion USD to expand his business..." ?

deomelllo:










Either this ignorant and unintelligent ipob can not read and comprehend his own ignorant posts or he's just too illiterate to know the meaning of the word ALL

deomelllo:










Either this ignorant and unintelligent ipob can not read and comprehend his own ignorant posts or he's just too illiterate to know the meaning of the word ALL

deji17:


My brother I wonder o.. They just write jargon and pull facts out of their a.s.s

deji17:


From this comment of yours:
"What is the use of the change if all the cash is used to facilitate Dangote's expansion at the expense of Nigerias infrastructure?"

life2017:


your comparison with california make no sense.
nigeria is a very poor country. we cannot compare it to California.
California GDP is about 2.5 trillion dollars while the GDP of the whole west africa is 1.5trillion

Daejoyoung:

lol not just West Africa sef, the GDP of entire Africa is not up to Calirfonia. l wonder what that guy smoked.

Desyner:
stop exargerating now. Africa includes egypt and south africa.

Desyner:
What is the meaning of saving N10 and then borrowing another N12? Think.

uba1991:
U can't see dos OSU on did threat

deomelllo:




The state of California was created September 9, 1850 and it is the 7th largest economy in the world so where is the sane and rational basis for that ignorant and illogical comparison?


I just wonder why these half-baked ipob losers don't shut up sometimes..

deji17:


Again, your comment is inaccurate. Nigeria debt to GDP ratio or debt to reserve ratio, is low compared to many other countries... No infrastructure to show for it because previous Govts failed to spend on infrastructure. Now we are doing that and as the project gets completed, the result will be glaring.