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Nairaland Forum / Nairaland / General / Business / Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 (29002 Views)
BUA CEO, Rabiu Samad Overtakes Adenuga As Nigeria’s Second Richest Person / Abdulsamad Rabiu Gives Emir Of Kano, Aminu Ado, A N200M Worth Rolls Royce Car / BUA Refinery: Pres. Macron Lauds Abdul Samad Rabiu As BUA Signs Deal With Axens (2) (3) (4)
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Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Flukiragz(m): 1:41pm On Feb 11, 2021 |
Ok |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by ibuildstuff(m): 1:42pm On Feb 11, 2021 |
BastardWike:I'm telling u, Nigeria billionaires are so dull, Africa is the only continent where the richest man is not into tech. 4 Likes |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by eedimo(m): 1:42pm On Feb 11, 2021 |
BastardWike:I also buy your thoughts on this but you can as well invest in the power sector as well abi na only them be investors? 1 Like |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Lagoon0: 1:42pm On Feb 11, 2021 |
CodeTemplar:They're both right , no one is wrong despite being opposite. ![]() We that are technology oriented they should give us space in government to compete with civilize countries |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by tito44: 1:42pm On Feb 11, 2021 |
lkillbrokehoes: Keep deceiving urself. Even more united countries divided talkmore of a stupid Nigeria 3 Likes |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Realiz(m): 1:42pm On Feb 11, 2021 |
No way for monopoly. Good of you rabiu always giving dangote a chase! 1 Like |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Solsix(m): 1:43pm On Feb 11, 2021 |
BastardWike:U think is easy to start a company and watch it grow that big?? Please give it to them |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by OnlyDeCapPlease(m): 1:43pm On Feb 11, 2021 |
BastardWike: How will they compete? See kweshun?! Rabiu?! Dangote??!! Those pipo na government o. Dem go ban importation of petroleum products sharp sharp! |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by malkomchris: 1:43pm On Feb 11, 2021 |
That's great, industrialization is the only way to go, self sustainability and export is what will save this country. Kudos BUA 1 Like |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by MansoryMX(m): 1:44pm On Feb 11, 2021 |
Monimatic: If you think these two companies are cat and dog then you are some of the biggest fool we have in this nation. What if I tell you a lot of core northern elites have shares in both companies. E shock you abi! Oya receive sense! 1 Like
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Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by lkillbrokehoes: 1:45pm On Feb 11, 2021 |
tito44:If you think the Northerners will ever agree to that, then you must be joking. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by ogub(m): 1:45pm On Feb 11, 2021 |
Is it only the northerners that are building private refineries now in Nigeria? |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Perfectsouth(m): 1:45pm On Feb 11, 2021 |
BastardWike:you sir is among the 2% that has brain and foresight in Nigeria... Am even guessing you are not in Nigeria 1 Like |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by tito44: 1:46pm On Feb 11, 2021 |
lkillbrokehoes: Who cares whether they agree or not?? Unity is not by force 1 Like |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Bimpe29: 1:47pm On Feb 11, 2021 |
This is nice for Nigeria and Nigerians. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Clothingonline9(m): 1:47pm On Feb 11, 2021 |
Affordable men clothing and accessories payment on delivery within Lagos and Nationwide dispatch |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by cooooooks(m): 1:48pm On Feb 11, 2021 |
You made many valid points. However, fuel demand is not going down in Nigeria or Africa anytime soon. Most of the continent does not drive already. Vehicle demand will go up as prices fall (due to more production on the continent and local brands) and the average Africans get richer. The continent's electricity infrastructure is still super poor. We have expensive electricity, regular blackouts and many areas still lack access to grid electricity. We need the cheaper fuel products. The Dangote and BUA refineries are needed and with their clout, they should be preferred to foreign (including Arab) fuel exporters. Remember that they already produce cement across the continent. Now, these developments are good for their private businesses, not the Nigerian government (yayy). BastardWike: 4 Likes |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by osuofia2(m): 1:49pm On Feb 11, 2021 |
thank God all Private refineries are owned by the North. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by justli: 1:52pm On Feb 11, 2021 |
BastardWike: How can they compete? The business literally has no competition. The local market is robust enough, 50 million daily is no small consumption. Proximity to raw material gives them every competitive edge needed. You should also remember the byproducts from these refineries will spring up lots of other industries. Audacious move. Should be celebrated. Someone needs to make such move in our railway, to overhaul it completely. Then the power sector and ports...we already have peace air changing the way we fly one plane at a time. With massive investments like these, backed with strong leadership, we just might get the country working again 3 Likes |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by MISSCONGENIALITY(f): 1:54pm On Feb 11, 2021 |
BastardWike:They think backward. You will see that by the time the whole world msut have moved from fuel card to electric cars, Nigeria government will make sure we don't use electric cars so that their quota system refinaries will keep selling fuel. And that's how Nigeria keeps moving backward when the rest of the world is moving faward. 2 Likes |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Femijohn198: 1:54pm On Feb 11, 2021 |
this project will change Nigeria from unemployment,we need more of it in Nigeria sothat as soon as possible Nigeria leaders will be begging the youth to work in civil service work or para military service. Nigeria will still bance back like what happened in olden days. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by FlyHeight: 1:56pm On Feb 11, 2021 |
BastardWike: Interesting write up sir; but they are on the right track as Nigeria is at least 30 years away from electric cars... How many people can afford them much less afford to maintain such vehicles... Let’s be realistic abeg... It’s like asking for bullet trains when we are only prepared for normal trains... And we do not have the resources for renewable energy, even Americans don’t have renewable energy readily available to their masses... Let’s cut our coat according to our size abeg. At least we would be refining in our own home 3 Likes |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Bobyro: 1:56pm On Feb 11, 2021 |
BastardWike:They know that fuel cars will still exist in Nigeria for a long while and they plan to maximize it. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by koning: 1:57pm On Feb 11, 2021 |
He is complaining about the rising cost of Cement. I thought he is the Chairman and C.E.O. of BUA Cement. He can do something about it. Knock the price down. Sell your cement at N1,500 and pull the rug under Dangote feet. N3,000 is an artificial, greedy, fixed price. Price set by monopolists. By the way, BUA and Dangote are building their huge refineries in Lagos. Why concentrate everthing in Lagos. Lagos has been taken oo... I have said it before, Lagos is the main reason Nigeria will never break up. Hausa/Fulani will never allow it. I am however for One Nigeria. But there is need to diversify investments to other parts of the country. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by kayjay69(m): 1:58pm On Feb 11, 2021 |
Dangote and BUA refineries are good developments for Nigeria. I would have preferred these be situated in other states that have coastline such as Ogun, Ondo, Cross River or Akwa Ibom. However, I have a honest question, Lagos as it is presently is overcrowded. Thanks to the population explosion because of economic opportunity. And in reality, no new infrastructure is being built to support all of these activities. If some or all of the refined product will be sold within Nigeria, I don't see rail tracks being built or pipelines to transport the product away from Lagos, so I am guessing trucking remains the realistic option. So will Lagos continue to be residential or should it be strictly an industrial state? Because as these things progress, it will become almost impossible to live sanely in Lagos State. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by udemzyudex(m): 1:58pm On Feb 11, 2021 |
This man is trying to give Dangote a run for his money. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by udemzyudex(m): 2:01pm On Feb 11, 2021 |
EmeraldKing7: It will take years before petrol cars will be phase out, even in 2021 car manufacturers are still producing diesel and petrol cars so all this electric car thing na wash. despite Gotv, dstv and others people are still buying dvd and selling dvd plate. 1 Like |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by jjxxx: 2:02pm On Feb 11, 2021 |
lilvicky68: So na the negative part u see. U no see the part of more employment, u no see the part of cut down on important of fuel with no subsidy. U no see the part of economy development. Them need to look you well.
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Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Keemsleek005(m): 2:02pm On Feb 11, 2021 |
ogub: You wrong there lot of modular refineries coming up in edo, imo, delta etc. Thou smaller capacity refineries. Its not an easy task to build refineries. During GEJ regime a lot of companies got the licence to build refineries but no single one could, until the licence was withdrawn from them. It takes mega companies and foreign assistance to build heavy capacity refineries. |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Xpol: 2:02pm On Feb 11, 2021 |
Flier:In this our current Nigeria electric cars won't be an option, where is the light to charge the car lol person go just dey drive dey go for highway and battery go low then Fulani herdsmen go just come out from the bush and kidnap ![]() ![]() |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by koning: 2:03pm On Feb 11, 2021 |
BastardWike: The bolded is false. Which Globally. Even in Europe, Electric cars are still under 5% of all cars sold. Their business forsight is correct. Both refineries will recoup their investments within 10 to 15 years of full functional capacity. It might a good 20 to 25 years before Electric cars become the norm in Africa. I however agree with your point that they should invest in power plants too. 3 Likes 1 Share |
Re: Abdul Samad Rabiu: BUA Petroleum Refinery Ready In 2024 by Nobody: 2:05pm On Feb 11, 2021 |
BastardWike:Poverty coupled with jealousy is deadly cancer! 1 Like |
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