Dangote Announces: Nigeria to End Fuel Imports by Next Month
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- Опубликовано: 8 сен 2024
- In a bold statement at the Africa CEO Forum, Aliko Dangote, chairman of the Dangote Group, declared that Nigeria will no longer need to import fuel starting next month, thanks to the capabilities of the Dangote Refinery. This refinery is already distributing diesel and aviation fuel and aims to fulfill the petroleum needs of West Africa and the aviation fuel demands of Africa. We explore the realism of this projection and its potential impacts on fuel prices and economic growth within Nigeria and across West Africa. Tune in as Chukwuemeka Osuji, Partner at Olaniwun Ajayi LP, joins us to discuss these pivotal developments.
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Well done Nigeria 🇳🇬🇳🇬
Those of us in the diaspora who are not in the motherland, we want to see more ownership of resources and we love to see stuff like this! Salute! 🫡
Africa has everything we can trade within ourselves
This is fantastic and I’m not Nigerian. They were spending $23 billion importing fuel and a simple refinery that cost $19 billion will eliminate all that money leaving the country.
Dangote. Now this is a Nigeria I can respect. ❤️👌🏽🔥
To you Nigerians Don't dought the ability of your people we the Caribbean is watching, The Oil Refinary is the largest in the world and can produce a wide range of product.....
Only to import the crude oil from America. Penny wise, palm foolish
It is the largest single train refinery. There are bigger refineries. India has the world's largest refinery.
@@listenup2882Thanks for the clarification..
Africa is rising and the world isn’t ready!!!
Well done Sir, for those with bitterness, pain and hatred, take your bitter souls elsewhere. He is a private citizen doing great deeds, on the other hand what have any of you contributed to Nigeria 🇳🇬. The Bible says give credit to whom credit is due, Dangote is a patriotic man.
Kiss the ground when you hear the name Dangote....
Congratulations
Africa must import oil from Nigeria
Now for fellow African countries like South Africa to buy oil from Nigeria. Everybody would benefit financially since Nigeria nearer for most of these countries.
In 2022, South Africa imported $4.34B in Crude Petroleum, mainly from Nigeria ($2.16B), Saudi Arabia ($1.54B), Angola ($381M), Ghana ($108M), and Republic of the Congo ($108M
great news everyone!
Dangote is the future of Africa
Africa at its best✊ america should be ashamed.
Saluting from 🇿🇦
Mother Africa is on the mighty ARISE AWOKE! 2020 - 2026 or ELSE!~ EXODUS
It's the price that matters to Nigerians.
I pray to Almighty God that this comes to pass
Yes, in Jesus name Amen 🙏
❤
Story for the gods
People's businesses would have been destroyed for this man and his team. Is he still importing crude to refine in Nigeria, because the last time i check he was importing crude.
But is he not the one importing crude?
Penny wise palm foolish. Back to where we started from.
Price of crude is the same regardless of source.
@@Thenewvoice-pc5re grade and haulage.
Well, he doesn't produce crude oil, he's only into refining. He needs to procure crude oil from outside since he can't get enough from Nigeria unless Nigeria produces more crude.
@@ikemmanuel7859 so he now imports crude duty free as he is in a tax free zone, pays for it with USD and pays no taxes on the profits. This is after preferential treatment by CBN and a $2.76b investment by the Nigerian Govt. The refinery is a positive step but he is not doing us a favor. We are the ones that did him a favor. After all we pay global prices for petrol. He is not selling at a loss.
CAP
They must purchase an irom DOME. Europe will be loosing $17billion annually because of this new refinery. Stay awake and nothing to celebrate as yet.
Where are other refineries. And pump prize at 850 naira.
#850 is about $0.5. Check out the price of a litter in other countries. Do you want them to sell at a loss?
You are previlidged man. We pay the equivalent of 2400 naira
@@Peter-bg1ku compare it with minimum wage or income in Nigeria before you claim it’s luck
@@zainab2886 if you put it that way, then you're right.
Story story o.
By importing American oil right!!! But Nigeria got enough oil anyway
Do you understand why oil is graded into light and heavy? if you want certain other products outside the usuals we use, other grades of crude that we do not have is required and so because of geography, America comes in handy, besides, no militants in America to disrupt supply like the ones that destroyed refineries in Nigeria.
Nigeria's oil is at a much higher grade than USA. I've looked it up already. This is just a ploy to boost dangote group profits so share holders can get a nice dividend at the end of the year
While you are correct about higher pricing for Nigeria's crude which is called sweet because it is easier to refine due to low sulfur contents and the gasoiline yield is very high, there are other products like grease etc that are from crude including petrochemicals for textile and pharmaceuticals, heavier crudes are needed for those more than the lighter blends we have
@@robertedson2155Then we are back where we started. We would still need dollars to import the crude. When He could easily have bought our crude that is premium, in Naira
@@kizitoonyeagusi2824It simply means there will be no improvement on the Naira against the dollar. Because we would still need the dollar to import the crude from the US
The fuel you buy both from Europe or America is Nigerian crude, ok?
Yep in they past they took the brut from Nigeria, send it to Europe and us for transformation and finally bring it back by boats .. very stupid process btw
Dangote seen the game now it’s time to Monopolize ❤
Challenge him. Build yours.
Yawn. Whatever dangote, whatever.
Nigeria govt is playing with fire, helping dangote monopilize nigeria industries
What is your better suggestion? Ban Dangote? Continue importation?
What about Saudiaramco?, Tesla?, Microsoft? BP? How have these companies not been beneficial?
Pedestrian professional! Dangote is not a monopolist either. There are other producers.
All the developed countries support their own.
But if he was a man from your tribe, I guess you'll be getting serious erection by now, even though he wont give you a dime or even affect your life personally. You are as evil as the man you are trying to paint. How many billionaires in Nigeria, have 90%+ of their wealth, invested in this country or in your village. ONIKURE.
@@ibrahimsalami4014the thing is that saudi aramco profits goes straight to Saudi Arabia's sovereign wealth fund which the country uses to develop the country. Where do you think all the money that saudi Arabia is spending on everything comes from? It's the oil profits from Saudi aramco. Don't compare a progressive country to a zoo country like Nigeria lmao
The thing is that saudi aramco oil profit is used to fund Saudi Arabia's sovereign wealth fund. Where do you think all the money that saudi Arabia is spending on everything comes from? All the profits from dangote's company will go straight to the share holders. The only upside for Nigerians might be a slight fuel price decrease. It can't get any better than that unlike Saudi Arabia that uses that sovereign wealth fund to develop their country into a world class environment @@ibrahimsalami4014
@@ibrahimsalami4014He is a typical Obidient ..they are always sad and bitter at any good news about Nigeria
He should get out
❤