Adefolarin Awotungase. ACA. ACTI. M.Sc. (in view).’s Post

This is the news I have been waiting for so Naira value can start appreciating. Dangote Refinery's contract with the Federal government is just for 6 months, I hope it will be renewed permanently so Nigeria can rebuild the economy as fast as possible focusing on real production with returns within a year, paying down existing debts, and *NOT* infrastructure or projects which will not yield results 5 to 10 years from now. If they have to do infrastructure and long term projects e. g CNG , it should be a few that will generate dollar revenue either directly or indirectly and *both* *principal* *and* *interest* repayment should be 7 years from now *at* *the* *least* . If the savings from the stoppage of refined crude oil is not directed to *short* *term* *positive* *production* , we might not see the expected appreciation in Naira value, even though Naira value will still appreciate. This is to reiterate my stand on my earlier write ups. Production, good security, cutting cost of governance and curbing corruption are the only ways Nigeria will move forward as a Nation, focusing on monetary policies alone will not work. Mr. Peter Obi Opeyemi Folorunso (FCIB,MBA,ASBC) Nairametrics Reno Omokri O'tega Ogra, FCIM Taiwo Oyedele

I said exactly the same in my prior post. Federal Government of Nigeria is destroying investors confidence with the Dangote Refinery issue. See 👇 This whole issue on Dangote Industries Limited is shocking and creating bad waves for Nigeria globally - Akinwunmi Adesina of African Development Bank Group Monopoly often exists where there are high barriers to entry or high capital costs. How many individuals or companies can do railways? How many can do refineries of the scale of Dangote Refineries? In a nation that has been importing refined petroleum products for several decades, the abnormal simply became very normal. No smart investor would make a $19.5 billion investment and want it to be undermined by importers. To manufacture is extremely expensive and risky. This is even more so in Nigeria, given the very challenging business and economic environment, fraught with policy uncertainties and policy reversals, and where the self-defeating default mode of "simply import it" is always so easily rationalized and chorused to solve any problem. Competition is good for everyone. But is Dangote refineries anti-competitive? What is the evidence? Has Dangote refineries prevented any other company from setting up refineries? Why have others not done so? How come they have not done so for several decades? Was it Dangote that held them back? But Dangote refineries surely cannot be asked to 'compete' with importers of petroleum products. That is not competition. Let the importers set up local refineries and compete by refining in Nigeria. That is fair and justified competition.

In what appears as a last minute efforts to strengthen people's confidence,clear doubts, encourage local participation and help the country's economy.The management of Dangote's refinery,one of the newly built world biggest petroleum processing facility has come up with some operational and marketing directives to work with. Three indigenous marketing firms has been announced to carryout distribution of the products retailers for onward delivery to the end users.This will in no little way deepen local content initiative,as championed by the Nigeria Content Development Monitoring Board(NCDMB).As it is in Nigeria at the moment,oil movement distribution is so inefficiently implemented leading to scarcity of the products at times.Just as am applauding this initiative,am appealing they ensure transparency and proper monitoring of loaded Tankers from their depots to forestall diversion of same. Secondly, they've announced that the products will be transacted in Naira, instead of the already dollar embraced transactions within and exports sales.It is no news that the Nigeria business space has so much be dollarised at the detriment of the local naira currency.This concern among other factors are not unconnected to the free fall of the naira at the moment.As as the Government is doing all she can to save the naira,moves like this from local investors will go a long way in complimenting Government own efforts. Lastly, I have come up with a study that, with the Dangote's refinery coming on stream, couple with other NNPCL owned refineries, in addition to the modular ones being constructed.Nigerians will soon enjoy in no distance time, friendly Petroleum Products Pricing,as to be necessitated by market force. DAVIS VWEDE, OKPUBULUKU IS A PROCESS ENGINEER, FINANCIAL OPERATOR, WRITER AND A SOCIAL ANALYST BASED IN THE NIGER-DELTA REGION OF NIGERIA.

People who earn government and political salaries NEVER know the sacrificial experience that private entrepreneurs go through to build wealth that is the ACTUAL KEY to the socio-economic growth and development of Nations. The Federal Government of Nigeria (FGN) is getting it wrong with the current attempted stifling of the Dangote Petroleum Refinery project. What the current Nigerian leadership must understand is the fact that it is not only the Dangote industries that they are attempting to destroy but also the millions of younger, innovative, dynamic future Nigerian entrepreneurs that are the backbone of multiple billions in future taxes that would boost REMITA and the future earnings for the FGN. These army of younger, innovative, dynamic, future Nigerian entrepreneurs actually look up to an entrepreneurial, industrial, innovative, dynamic, and productive inspiration in Alhaji Aliko Dangote; believing and hoping that they too can make it in this deadly, difficult, distorted, and discouraging African business environment. Therefore, except the current FGN wants to destroy the future of its own REMITA revenue generation mechanism/drive, they should let go and let the Dangote Petroleum Refinery project succeed. #LetDangoteBreath

Many people do not understand the enormousity and complexity of what Aliko Dangote has been able to pull off with his Refinery and Petrochemical complex, neither do they have a clue about how critical it is for the growth and development of the Nigerian economy yet they keep on looking for any semblance of negative news to project about this laudable project while being blissfully ignorant of the fact that every single Nigerian will benefit from the success of the refinery. When the refinery and Petrochemical complex becomes fully operational, it will save Nigeria $10 billion annually in foreign exchange used to import petroleum products while it will generate another $6 billion annually from the export of its products there by shifting the country's balance of trade by a whopping $16 billion or approximately 30% in favor of the country. This will eventually go a long way to stabilize and enhance the value of the Naira which will affect all of us personally. And this is apart from the hundreds of thousands of jobs being created down the value chain. You may choose not to like Dangote as a person for whatever reasons but wishing that his refinery project fails is like shooting yourself in the face. That said, government was right to support him and bail him out when he had problems completing the refinery. This is what responsible governments do all over the world because of the potential impact the investment would have on the economy. Kudos once again to Dangote, he has achieved what several governments all over the world and fellow billionaires cannot dream of achieving. His name will certainly be written in gold in Nigeria's economic history.

Aleko Dangote’s vision goes beyond business—it’s about leaving a lasting legacy. In this video, we highlight his proudest achievement: taking Nigeria off its dependency on petroleum product imports for the first time in history. Dangote’s refinery project marks a significant milestone for Nigeria’s economic independence, and he’s proud to be leading this transformation. Watch as Dangote discusses the importance of legacy and how this achievement is reshaping the future of Nigeria's oil industry. Are you as excited about this milestone as Dangote is? Let us know your thoughts in the comments below! 🔥👇 With Nigeria now producing its own petroleum products, the country is poised for a new era of economic growth. Could this be the beginning of a self-sufficient Nigerian economy? What do you think will be Dangote’s next big move? #DangoteLegacy #NigeriaOilIndependence #PetroleumIndustry #EconomicMilestones #NigeriaBusiness #AfricanEconomy #BusinessOpportunities #OilRefinery #FYP #DangoteRefinery #LegacyInBusiness

The truth is that no businessman will sincerely advise a government on economic decisions and policies to the detriment of his businesses.   The majority of the council members are the same people milking Nigerians dry directly or indirectly through their businesses in Nigeria.   Will they advise the government to reduce the prices of... ✅Cement ✅Petroleum products ✅Give loans to small businesses at a single-digit interest rate ✅ Food prices ✅Cooking gas ✅Transportation   How exactly are they going to advise the government and what advice does the government need when it has absolute power to take drastic measures if they have the interests of the people?   I frown at these things because they will lead to nowhere.   The government does not need any advice to supply crude oil to the Dangote refinery to refine and supply diesel to petroleum marketers at a reduced price. that action alone will force down the prices of goods.   The government does not need advice to reverse the floating Naira policy   The government does not need advice to cut down on the cost of governance   The idea of advisory on important economic matters gives an impression of incompetence because this is what they campaigned for. #governance #economics #policies

Nigeria! Musing on the raging argument about A refinery: This argument is going the wrong way and maybe orchestrated. Why would a locally manufactured refined product be costlier than an imported product? Why have we been clamouring for locally refined products? I don't buy into that side of the argument .However, all these shenanigans going on call for deep and sober reflections. Nigeria is under the apron of a mafia group. The oil industry has been hijacked such that only a total overhaul can save this nation. The truth is that the achilles tendon of this administration has a big sore that's self-inflicted. If Tinubu didn't know that the subsidy regime was corrupt and what he was going to do correct the system, then he had no right contesting for the presidency how much more presiding as one. The way this controversy is shaping up, if no surgical operation is carried out soonest, it will last the 4 years of this administration. If it lasts that long. A lot is unclear about the making of the Dangote Refinery and the will to bring down the cost of petroleum products in Nigeria. EKD

Aliko Dangote's $19B Bet: Will the World’s Largest Refinery Transform Nigeria’s Economy? How are bold investments in oil refining transforming Nigeria’s economy? This video dives into the game-changing developments driven by local refining projects, such as the monumental Dangote Refinery. Discover how initiatives like these reduce dependence on dollar payments, tackle fuel shortages, and move Nigeria up the value chain by refining its own oil instead of exporting crude. We also explore Nigeria’s journey from the 1956 discovery of oil to recent finds in the East, highlighting how entrepreneurs and industries are building critical infrastructure—often without relying on the national grid. The conversation links to pressing economic challenges like power shortages, forex scarcity, and fuel queues, alongside government efforts to stimulate investment and promote self-sufficiency. Could these investments reshape Nigeria’s future and inspire similar breakthroughs in other sectors like tech, fintech, or agriculture? How will the rise of locally refined products impact consumer prices and business operations? Join the conversation in the comments: What are your thoughts on Nigeria’s refining push? How can the private sector better collaborate with government to address challenges? Don’t forget to share your experience—whether you’re an entrepreneur, investor, or someone affected by fuel policies! For all your FMCG products at competitive prices, visit https://lnkd.in/exUambjm. Looking to invest in real estate or purchase land? Explore opportunities at https://lnkd.in/eeDvtpeq. 📢 Like, share, and comment: What other industries could benefit from the same self-reliant strategy? 🔔 Subscribe for more insights on Nigeria’s evolving business landscape! #NigeriaEconomy #DangoteRefinery #LocalInvestment #OilIndustry #EntrepreneurshipNigeria #ForexCrisis #FuelShortages #EconomicGrowth #SelfSufficiency #TechNigeria #AgricultureNigeria #FMCGDeals #RealEstateNigeria #BusinessInNigeria #InvestmentOpportunities #SMEs #PrivateSectorGrowth #PowerSolutions #MadeInNigeria #FYP #AfricaBusiness

The Nigerian government seems just to have a way of ensuring that the Nigerian Economics is strictly 'Nigerian'. Still on this Dangote refinery issue, honestly I'd hoped that it was going to cause fall in prices of petrol and related products even if it's not going to be as significant as many hoped. But when I realized that NNPC was to be the exclusive buyer of the fuel from Dangote, I suspected an an unusual play. Apparently, Dangote has relinquished the power to fix its own oil price to NNPC. Why can't oil marketers carry fuel directly from the refinery instead of going through NNPC as the middleman? NNPC is likely becoming a big monopsonist. My thought is that Nigerians will likely end up paying the same price as if they fuel was being imported. So having the refinery around may not make much difference in the lives of the average Nigerian citizen. It might be the case that Dangote just got 'settled' so he will cry no more and protect or at least benefit from his investment.🥲 I'm open to different views though especially if you have the facts.