Nkosana Ntuli’s Post

The mega $19 billion Dangote Refinery has been hailed as a game-changer. Owned by Aliko Dangote, Africa's richest man, it is the world's largest single-train refinery with a capacity of 650,000 BPD. Beginning production this year after delays, it aims to meet domestic demand, reduce imports, and stimulate economic growth. Amid inflation and economic challenges, the refinery promises to save billions in foreign exchange, create jobs, boost GDP, and enhance energy security. Yet, concerns loom regarding environmental and social impacts. But to Nigerians, is all this simply economic speak, or is the refinery truly a big deal that should truly keep our attention? As the Dangote Refinery moves toward full capacity by mid-2025, its impact on Nigeria's economic trajectory remains uncertain. Still, for many, it symbolizes ambition, resilience, and the possibilities of economic transformation. Explore the Dangote Refinery journey—promises, challenges, and the potential impact on Nigeria's economic landscape in our feature: https://lnkd.in/dj_bw7-Q #DangoteRefinery #NigeriaEconomy #EnergySecurity #IndustrialTransformation

Aliko Dangote, Africa's wealthiest individual, is strategizing to establish an #oil trading arm, potentially in London, to manage #crude and p#roducts supply for his groundbreaking #refinery in Nigeria. This move aims to reduce dependency on major trading firms, as Dangote aims to maintain control over the project's operations and #profits. With the refinery poised to significantly impact global oil and fuel flows, the trading community is closely monitoring its operational model. Despite negotiations with major #trading firms for financing and crude oil supply, Dangote is exploring independent avenues to secure funding and manage operations. His plan includes forming a dedicated trading team, led by ex-Essar trader Radha Mohan, to handle international supply and trading. As the refinery gradually ramps up production, partnerships and strategies for managing working capital and product exports are being carefully orchestrated to ensure the project's success and profitability. #oilrefinery #trading #hakunamatatamedia

Dangote Refinery's grand entrance: After much postponements the Dangote Refinery is said to have rumbled to life amidst long queues and high prices. The Knight in shining armour rides in to the rescue. The other 4 national refineries remain comatose. It will smack of impudence to not recognise the high civic duty,responsibility and sacrifice the Dangote group is carrying on its shoulders,when the country is on its knees due to energy crisis. Who would bother to scrutinise the contract details when the oil flows from the pipes of the Refinery to the streets of Nigeria? Who would bother with the pump price when sustainability carries far in to the streets? What would it matter if we paid #800.00 when we don't have to spend dollars importing? We must pray and honour our ever vigilant entrepreneur for saving Nigeria from this energy disgrace. Say no more!! Let the Dangote group manage our petroleum products. Abolish NNPCL!! We need the private companies to take over. EKD

In a recent discussion, Mr. Aliyu Suleiman, Group Strategy Officer at Dangote Refinery, expressed significant concerns regarding the lack of support from the Nigerian government and regulatory bodies. He raised three pivotal questions: 1️⃣ Should the government protect local refineries? 2️⃣ Is it necessary for Nigeria to protect its infant industries to encourage investment? 3️⃣ Should local refineries receive preferential access within the country? Suleiman stressed that despite the Dangote Refinery’s substantial investment of over $19 billion to address domestic product supply challenges, the anticipated regulatory support has not been realized. 🔗 Read more on Swifteradio.com https://lnkd.in/eWnt6ThM 📺 Watch the full story on YouTube https://lnkd.in/e-aWWDcc #SwifteRadio #WallToWall #DiasporaRadio #ImmigrantRadio #AfricansInDiaspora #NigeriansInDiaspora #DiasporaImmigrant

Please take some time to read my exposé on how the Dangote Refinery represents a significant advancement for industrialisation in Africa Nigeria, rich in resources and with a burgeoning young population, remains paradoxically stagnant due to its over-reliance on imports. This dependency, rather than being a temporary measure, has entrenched itself as a systemic barrier to long-term prosperity. https://lnkd.in/d6zrjRd6

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, briefed the press on Tuesday afternoon following a meeting with President Tinubu, highlighting the progress of Nigeria’s transformative initiative to sell crude oil to local refiners, who then sell refined products in Naira. With Dangote’s 650,000 bpd refinery setting the pace, this approach ensures market-driven pricing for both petroleum and foreign exchange, fuelling private investment, economic growth and job creation. Nigeria is now taking important steps along the path to industrialisation and modernisation.

If my thoughts about Mr Dangote were critically ambiguous before , now they are crystal clear , no ounce of doubt . I have never seen such an unprecedented witch hunt by a government against a single man. I was actually thinking that he was a tool of their nebulous politics and Mafia cartels but no. He is on his own , unique on his lane but respectful of other business men 🙄 Selfless and tired he says and I quote : " Let them( NNPCL) buy me and run the refinery the best they can ". Even this they could not do. On the contrary their shares in the refinery has gone down over failure of payment. I feel ... monopoly or not , the refinery is operational and efficient , bringing jobs and more currencies into the country , opening a boulevard for an increase of the local production of crude , making Nigerians and Africans proud. Sabotaging our jewel ( the refinery is an African pride ) is ill-advised and ludicrous. Enemies of progress should leave our continental icon alone please . Dangote Petroleum & Petrochemicals #Energy #BusinessJungle

Dangote Refinery To Import 24 Million Barrels Of Crude Oil From U.S. In a move set to bolster its operations, the Lagos-based Dangote Refinery, spearheaded by Africa’s wealthiest entrepreneur Aliko Dangote, has announced plans to procure 24 million barrels of US crude oil over the next year. This initiative underscores the refinery’s commitment to enhancing its processing capabilities and solidifying its position in the global crude and fuel markets. According to a recent report by Bloomberg, the refinery has issued a term tender seeking two million barrels per month of West Texas Intermediate Midland crude, starting in July. https://lnkd.in/efRWzuC3 #News #Trends #Trending #primebusinessafrica #fyp #Newsupdate #Latestnews #inflation #budget #money #family #finance #tips #viral #trending #socialmedia #nigeria #news #today #pba #africa

Billionaire businessman Dangote has stated that his refinery will lower fuel prices in Nigeria. Aliko Dangote, Chairman of the Dangote Group, announced at the Afreximbank Annual Meetings and AfriCaribbean Trade and Investment Forum in Nassau, The Bahamas, that his $20 billion Lagos-based refinery, capable of producing 650,000 barrels per day, is set to significantly impact fuel prices in Nigeria. He indicated that similar reductions had already been seen in diesel prices following increased availability from his refinery, with costs dropping from N1,700 to N1,200. When questioned about the potential impact on petrol prices, currently averaging N700 per liter, Dangote did not confirm a direct reduction but emphasized the precedent set by the diesel market. This statement highlights the anticipated role of Dangote's refinery in potentially stabilizing or lowering fuel costs across Nigeria, pending further developments and market adjustments. #NaijaExclusive #NigeriaNow #NaijaToday #NigeriaFocus #NaijaInstant #NigeriaEssentialNews #NaijaNewsFlash

Thinking Aloud: What Exactly Is The Problem Between Dangote's New Oil Refinery And The Nigerian Government?🤔 I have a few theories, including what I gleaned from watching this video and my experience doing business in about 16 African economies over the span of my career. But I am keen to hear the views of any Nigerians on the ground and closer to the action, as well as anyone with a view. That said, I posted earlier about why Africa does not beneficiate its natural resources instead preferring or only being able to export raw materials and import back further processed products at a higher price obviously. https://lnkd.in/dvaen8bT To me, Dangote, and its oil refinery giant startup, represents an attempt by a Nigerian entrepreneur to supply local and African export markets with oil refined on African soil using African raw materials. This should be the role model of how local problems can be solved locally. Obviously, there will be teething problems of all sorts including quality and scale in comparison with the big oil companies that have been around for centuries. I would have thought that the Nigerian state owned company should be its greatest supporter? What am I missing?