CIIA Nigeria’s Post

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.

https://lnkd.in/dA_aBvjm It's now very clear why our country measures in the minor over these years. Vested interests are not interested in making our system to work for the glorification of our dear nation, how can this man and management of NNPCL still be in their jobs, I recall meeting this same man couple of years ago in NNPC towers concerning #barite value and supply chain, the submitted document never received any feedback and importation had continued? Two things are extremely pertinent; information about the $100M land payment, who got what and why our country didn't execute fully the 20% share option, we need answers??? This has been the reason why after all these years, #barite has continued to be imported...!!! #rig count at 34, #NCDMB must give us full account of where the Barite used by these rigs are sourced? PolyGuard Investment Nigeria Ltd guarantees long-term 4.2SG #barite plus #lead, #zinc, #manganese, #rareearth, #criticalminerals and #construction #rawmaterials Reach out for a conversation, please. https://lnkd.in/dqcs9nG patrick@polyguardinvestmentng.com +2347034879140 When we get things right, which am convinced and persuaded that we will, there is no way God won't jump protocol to bless #nigeria...!!! Central Bank of Nigeria MoFi African Development Bank Group African Export-Import Bank (Afreximbank) Nigerian Export Import Bank - NEXIM Sterling Global Oil Resources Ltd, Lagos, Nigeria NNPC Limited SLB Halliburton Baker Hughes TotalEnergies Chevron Shell Oando Plc ABIODUN Essiet

Very sad .Others just perceive Africans as subhumans. Africa has all to lead the global world in creating wealth for its population . Nigerians should rally to support Aliko Dangote . It seems mafiosi are ruling Nigeria . $30B refined oil import at risk. They ae happy to take bribes from Indians ,Russian, British and French interests to sabotage Aliko Dangote 19$B investment. Nigeria faces challenges in its oil sector, with recent events sparking concerns among industry operators. The 650,000-capacity Dangote Petroleum Refinery experienced a fire incident, quickly controlled with no harm reported. The Lagos Chamber of Commerce and Industry urged the Federal Government to address issues around oil supply contracts, crude costs, and logistics to prevent disruptions in the sector. Modular refinery operators seek intervention to resolve the domestic crude oil supply crisis, emphasizing the importance of boosting local production and investor confidence. Efforts to tackle these challenges are crucial to safeguarding the stability and growth of Nigeria's oil industry. #OilSector #Nigeria #Investment #IndustryChallenges

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.

It was all gloves off between Dangote, the richest man in Nigeria and the Nigeria National Petroleum Company Limited (NNPCL) after the former mentioned that the later failed to meet up with its own part of acquiring 20% stake in the newly built Dangote refinery as agreed. It stated that the NNPCL has only paid for 7.2% as against 20% that was widely made. The NNPCL has decided to respond by claiming that one of the products produced by the newly built Dangote refinery with a capacity of 650,000 bpd is not up to standard. The regulatory agency went further by saying the Dangote refinery has no license yet to produce and also it is trying to be the only refinery that supplies refined crude product in the country thereby creating monopoly. Earlier on, the Dangote refinery had accussed the International oil companies of sabotaging it by not supplying crude oil to its refinery. This has led the Dangote refinery to turn to importation from Brazil so as to meet its demand. It is been said that NNPCL is supposed to be the sole supplier to Dangote refinery but it has used most of its crude oil produced for forward contract to secure loans from international lenders. It is obvious that both parties are fighting for their interest and it remains to see how this will be resolved for the interest of the nation. #Crudeoil #finance

A New Dawn for Nigeria's Economy has emerged with the Launch of the Dangote Refinery. The recent inauguration of the Dangote Refinery marks a significant milestone not just for Nigeria, but for Africa in general. As the largest single-train refinery in the world, this mega-project is set to transform the economic landscape of Nigeria as well as catalyze growth and wealth creation across various sectors. The refinery's capacity to meet local demand and export refined products will drastically reduce our dependence on imports, strengthen the naira, and create thousands of jobs. This is a pivotal moment in our journey towards energy security and self-sufficiency. By refining locally and exporting Petroleum products, Nigeria can significantly reduce FX pressures on the CBN, stabilize the Naira, and alleviate the devaluation pressures the economy has long been grappling with. This strategic shift will boost local production across diverse industries and enhance the country's economic resilience. Looking ahead, the listing of Dangote Refinery on the NGX will further demonstrate a commitment to wealth redistribution, transparency, and safeguarding the sustainability of the Refinery through Corporate Governance. A listing would open up a new avenue for investors to participate in the growth of this monumental asset and further deepen the Nigerian capital market. Similarly, the anticipated listing of the Nigerian National Petroleum Corporation (NNPC) on the NGX adds another dimension to the strategic importance of these assets and sectoral reforms. As NNPC moves towards greater transparency and efficiency, a public listing would align with global best practices, enhance corporate governance, and create sustainable wealth for all Nigerians. #DangoteRefinery #NNPC #NGX #SEC #CapitalMarket #Aradel #CBN #Presidency #NigeriaEconomicGrowth #EnergyIndependence #InvestInNigeria #FXStability #CapitalMarket #PrimaryMarket #EconomicTransformation #Office #Sustainability #FinancialServices #MOFI #BPE #ASHON #Investmentbanks

* After years of delay and cost overruns, the 650,000 barrels a day refinery in Nigeria owned by Africa's richest man, Aliko Dangote, processed crude oil for the first time this month, marking the first operational step for a project he has dubbed a "game changer" for the country. * OGEL/TDM/ArbitralWomen: Strategic Considerations in #Energy #Disputes #Arbitration https://lnkd.in/gdCvdd2 https://lnkd.in/gCAN77C

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.

It is utterly disgusting, disgraceful and annoying at the same time! How can a oil producing country without a single functional refinery in 2024 be frustrating (pressing the neck) one of its largest indigenous investor this way? This sometimes makes me wonder if we are really interested in the "ease of doing" mantra like we claim in this country. Dangote isn't saying NO to healthy competition. This seem like an unseen hand in play to frustrate the refinery from being operational. As of now, the nation does not have any functional refinery, which means that there is no competition to start with. More so, Dangote has given a very clear option, which is for NNPC to buy out the refinery and run it, so that there won't be any need for the "inexistent" competition, just like the Port Harcourt, Kaduna and Warri refineries are operational without any competition. If the government could be doing this to an indigent business, how then will the foreign investors look at us? This is a clear indication that the government isn't interested in the growth of the real sector. So many young people will be discouraged with this drama, because if with the economic and political clout of Dangote, he is being treated this way. I wonder what becomes of young people with no connection and financial war chest. I read an article of how an entrepreneur that's into car assembling, never got the support needed to locally manufacture tyres in the country due to the bureaucracy in the government, despite having a good business plan that shows feasibility and viability of the project. I don't know why everything that works in other countries always fail in Nigeria.

In case you missed it from numerous media outlet, This is What Akinwunmi Adeshina said about the ongoing Dangote - NNPCL drama. “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. We cannot and must not undermine, disparage or kill local industries, talk less of one that is of this scale — a jewel of industrialisation in Nigeria,” my thoughts are in the comment section!