The Morning Show: Tinubu’s Lifeline to Dangote Refinery Will Strengthen Naira
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- Опубликовано: 7 сен 2024
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And can Dangote and other indigenous billionaires seek for licence and go into offshore exploration of crude
How's it that, after all these years, Nigeria does not have 100% local refinement of crude oil? It is unbelievable! NNPC might well be the chief economic saboteur!
My brother, that one na Shame. A whole big country like Nigeria is still importing crude oil and some people want it to continue. Na wa ooo
Rufai you are trying God bless you,the problem here is that corruption has eaten deep in Nigerian government
This is good, it’s madness that they haven’t done this since… institutional ownership of naira is the key to strengthening the naira…
I thought NNPCL is a private company now and cannot be directed by the FG to do anything.
FG is Major shear holder
@@adewaletaiwo7941so it’s not private? I think that is the irony being pointed out.
The problem of our dear beloved country Nigeria 🇳🇬 is our leaders, government officials and politicians
"The president has done his bit".... indeed so, but the indecisive way he went about it portrays insincerity as far as I see it. I insist that a project like Dangote's refinery should have been on the front burner. The powers that be are obviously not happy but must be always pander to narrow parochial interests? This is beyond politics. This is frank ungodliness.
Does Dangote have to cry out before, the government take the right action?
It's because of the Malta scandal so to close his mouth.
This is commendable! It is forward looking! Kudos!
Comment by me Chukwudi
Rufai a man of integrity
I am one of rufais oppositions. I believe is doing well so that we might not go back to desame problems we are facing now
How much will 1 barrel of crude cost? Also will the price be equivalent international price market.
Why only 450,000. Can't we for once decide to quit being slavish.
Let's satisfy all local crude demand before giving to our slave masters
Who are the other refineries?
Everytime they say IT WILL STRENGHT THE NAIRA thhe NAIRA to dollar goes UP. Now we are already at 1650 Naira per DOLLAR - HORRIBLE...
The reason it will strengthen the naira is because these institutions will have to hold billions of naira at every given time to make purchases thereby giving the naira its strength
@@titrecords2294 We will see, time will tell but we are on stage where it is horrible for foreign companys who have to report their earnings in USD. They now have to divide all by 3 or even more compared to 8 months ago.
Nigeria the rest of Africa is looking at you if nigeria is good Africa will move.
The President can have NNPC force IOCs to give priority to Dangote and other local refineries before selling to foreign firms. This way, Nigeria will be more advantageous,that is selling refined products to international markets rather than selling just crude. We can choose to refine 100% of our crude production and sell it outside.
That’s what ARAMCO does. Refining the raw material gives better value on the international markets.
As I have heard others say, we will see with the implementation if this is just propaganda or truth. It is a good idea, I think, but they will have to be mindful of rules and technologies involved. But the idea a person in Nigeria cannot buy this petrol fuel from a Nigerian company without dollars has always been absurd. So why are they doing this now, why not before? This will be hard to pull off but there are brilliant minds in Nigeria who can help with this. I hope this goes well and blesses, first the people in the state where the oil comes from and also the whole Nigerian people.
All stolen Nigerian money must be transferred back from offshore to service Nigerian foreign exchange
The Key to strenghing Nigeria Naira agaist USD is simply rely on offshore capital Market and also Nigeria Minister of Finance should Copy workable Monetary Policy from the smaller Countries around the World that have rubbish USD
Seeing Lai Mohammed reminds me that nothing last forever.
He was a terrible minister of information.
The old ones in Nigeria don't allow the young ones in every sphere
Rufai will always look for the negative aspects of it because he never liked any good news about Nigeria 🇳🇬 and the Lord will put him shame
If the crude oil is being sold in Naira and what if it is at a prohitive price thereby making it inevitable to sell at high cost for the citizens
To be honest im done when ever Rufai is done talking
Rufai There is Enough Crude,Nigeria is selling Off OPEC to prospective buyers @ discount rate
They have also to pay back loans in Crude oil. Im just intersted how much that is.
@@CuriousConnoisseursThey can opt to paid back the Loan in USD via offshore arrangement
@@CuriousConnoisseursThey can opt to paid back the Loan in USD via offshore arrangement
"WHILST WE INTEGRATE ENGINEERING ECONOMY NATION WIDE INTO OUR SKILLS DEVELOPMENT;
WE MUST REFRAME OUR DEPENDENCY ON CRUDE OIL 🛢 & DIVERSIFY TO RENEWABLE ENERGIES; SOLAR, WIND, LITHIUM, NUCLEAR, ETC. WE DON'T HAVE ⛽, GAS SUPPLY ISSUES BUT AN AFFORDABLE ONE; 🌎 MARKET ACTIONS." ❤🇬🇧❤
Rufai should be more optimistic about Nigeria future. The president have done right thing. NNPC said by dec.they can meet 2m.barrel per day,now it's already 1.6m.
This is just absurd!
I am a petroleum, energy technology professional.
1. Interference, by government in any private investment is called "Nationalization."
2. Large numbers of local currency in intra-circulation will create inflation.
3. When NNPC sells crude oil in Naira. NNPC will bring influx of Naira into circularion.
The influx will lead to further devaluation of Naira.
Therefore, foreign exchange (to buy Nigeria goods (aka import values) will be very cheap.
The tariff will not be able to cover cost for infrastructure finacing.
These are the results;
- Too many Naira in circulation
- The legal tender value depriciates
_. Cost of export industrial goods in exchange to foreign currencies (like petroleum) will depriate. This will
1. decrease the profit marging for Oil and gas products
2. The federal taxes that will paid will not be sufficient for SERVICING the Federal Government of Nigeria debts and cost for investment.
3. Farmers will not be able to make sufficient revenue to cover their expenses.
It will lead to huge economic crisis.
Just shut up you don’t know shit
Talk like you don’t think
.
Rufai, why are you always negative? Never see anything good in government activities.
Don’t mind him. Let him continue to carry his negative burdens. He knows more than the president that gave the directive.
His questions are valid though. It is a good initiative by Government but they need to assure seamless delivery of crude oil to the local refineries.
Is there anything Good about theifnubu government?
This is the same media station that questioned why the Government cannot sell the crude in our National currency (Naira) some months/years ago. I can see that Rufai did not say this is a good idea but to come up with another jab "where is the crude"? Is good to criticize but should be a constructive criticism. Anyway, he and his crew are the kind of people some Government need but sometimes be appreciative of a good deed. When you have a natural dislike to someone, no matter what good the person does, you won't acknowledge it. Time will tell.
@@remilekunarogundade3589 Constructive criticism cannot always be negative.
This is the same media station that questioned why the Government cannot sell the crude in our National currency (Naira) some months/years ago. I can see that Rufai did not say this is a good idea but to come up with another jab "where is the crude"? Is good to criticize but should be a constructive criticism. Anyway, he and his crew are the kind of people some Government need but sometimes be appreciative of a good deed. When you have a natural dislike to someone, no matter what good the person does, you won't acknowledge it. Time will tell.
Please allow rufai to do his job your tinubu is fanatically corrupt and you know,also nothing good
will come out him,
How would this strengthen naira when it's dollar that would determine the price of the product?
The refinery will no longer be demanding for $9Billion from the foreign exchange market. The real problem now is the availability of crude as oil thieves are siphoning 800k bpd of crude from our pipelines daily with no solution to the problem in sight
It would mean there is more dollar to use for other imports.. Its really a great move. So something good may have come out of the evil NNPC planned for Dangote refinery.
@@Naijamann We will only achieve what you said only if NNPC officials stopped cooperating with oil thieves who steals 800bpd of oil per day. Right now the crude to feed the refineries does not exist except of course NNPC comes up with a miracle - I mean getting the 800bpd of daily stolen crude to start flowing into the governments coffers again.
Nigeria should promote local products and reduce imported goods. More industries need to be constructed to create more jobs for the genz .
Let Nigeria export finished products than exporting raw materials.
@@shehuarc2964 We will be saving $9Billion from not selling crude to Dangote refinery in dollars. That will help to stabilize the exchange rate and the economy.
This rufai is a madman, he's working for this foreign powers