Nigeria is a Country of Scandals and Keeps Running From One Scandal to Another -Madaki
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- čas přidán 6. 09. 2024
- It is very saddening that after many years of wanting a functional refinery, we have one, and suddenly the issue is crude supply.
Ameh Madaki, Oil and Gas Consultant and Managing Partner, BBH Consulting
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This is one courageous, truthful, forthright man. He stated facts about Dangote vis-a-viz the unfair preference he has enjoyed from successive administrations in Nigeria to a point where he monopolized and still maintains monopoly in certain sectors of business to the detriment of his competitors. Over time, he's grown so entitled that he now arrogates to himself the right to falsely accuse his competitors just to gain an unfair advantage. That stated, the government should investigate the allegation made by Dangote. No knowledgeable Nigerian is oblivious to the powerful vested interests in the oil sector in Nigeria.
It's mind-numbing that the so-called Dangote refinery is, to a large extent, funded by the CBN and the Federal Republic of Nigeria by extension. Yet Nigerians are paying exorbitant costs for PMS.
Well said
This is not even a problem. The world over, governments tactically support private enterprises, which are seen as pioneers or strategic to the economic power of their nations. Tesla and SpaceX are examples. However, it must be done in a way that does not impend competition.
The South Koreans have what is known as "chaebols". These are big private enterprises that are seen as national treasures and which the South Korean government supports tactically. Samsung, Kia, Hyundai are some of them. They have been key drivers of the economic development of the country. Today, South Korea is seen globally as an industrial powerhouse. The same can be said of China, Japan, and other Asian nations.
The Nigerian government must identify key private enterprises in strategic sectors of the economy and support them "tactically". This way, they can boost industrial and technological growth, create jobs, and boost the economy generally. Imagine if Air Peace, Innoson, Dangote,Proforce, Indorama, Bua, and plenty other local private enterprises operating in key sectors and which are into actual real production, not the briefcase contractors, it would go a long way to deepen our economy.
The forces against the Dangote refinery are largely foreign interests with their local collaborators in government institutions and agencies.
The emergence of the Dangote refinery has disrupted the oil refining market. The European refineries know it is a death sentence for them because the African market, which hitherto was under wraps, is now being contested for by the Dangote refinery. They know it enjoys more competitive advantages than they do. Does anyone think they will simply sit and allow Dangote to take food from their mouth, especially when their own market is moving towards alternatives. Africa is their priced jewel, and they will do all possible to frustrate any local competitor, which in this case is Dangote.
You have no idea the battles Dangote fought to even get the refinery started. You don't. He should be praised despite the underhand dealings that may have happened. If 30% of the Nigerian elites invested their funds in the local economy, we would not be where we are today. Instead, they choose to invest in foreign economies. Imagine if we have more Air Peace, Dangote, Bua, and Innoson, how the economy would be greatly impacted.
If Dangote continues to import crude from the US, production cost will remain high, and so is the pricing for its end products. It is simple logic. The question is, why can't it get supplies from the NNPC/JV partners?
Nigeria's crude is either tied up in future contracts or has been used as collateral for loans. These are contracts that must be honoured. So, Dangote is left with no choice than to import crude with its attendant pricing.
We must understand the dynamics of the system and the "devils" Dangote is fighting against.
Was it not the same thing they did to Air Peace? If you think these foreign elements want economic independence for Nigeria and indeed Africa, you must be joking. You fight, just like Allen Oyeama did if you want to win. Dangote is using Allen's approach: cry out to Nigerians and have them force the government to wake up and act against the forces(local and foreign) against its business.
@@obehiokojie4066 please don't compare Allen Onyema to Dangote. If Nigeria was a country, there would be a Nigeria refinery and not Dangote refinery which was built with southern Nigeria taxpayers money.
@@mcrodriques3562There is no US refinery. There is a Shell Refinery. An Exxon Refinery. A ConocoPhillips refinery. All privately owned. Government should leave business to the private sector.
It's a shame. This shows that Nigeria is a banana republic. Tell me any sovereign nation where this will happen in the world? Nothing works in Nigeria.
Wise words from my oga and big brother 😊. It's really high time actions are taken. Maybe NLC, NGOs and others should protest and demand for proper ways of doing things
So na now una say der so people in Nigeria and aside Nigeria dat don't want Nigeria to work 🤷🤷
Noticable points:
1. Crude oil Producers make crude oil available to Dangote refinery and other modular refinerys
2. Dangote refinery make PMS available to Nigerians.
•Dangote Refinery has promised PMS will be ready to Nigerians from July 10
Great non partisan analysis by Mr Ameh Madaki.
The US will not export crude when there are local refineries without crude. It doesn’t make sense. Regulator needs to step in to correct the anomaly. Are we saying when the NNPC refineries are ready, they will also have to resort to importing?
The regulator should make sure the right quality of products are imported into the country
Once the country is self sufficient in the production of petroleum products, Government needs to ban the importation of petroleum products.
18:19 to 18:39 Mr Mafaki said the truth. Dangote refinery should not be allowed to use propaganda to achieve monopoly agian for its products, just the way Dangote's cement drove away the Burham, Ibeto's, Elephant and others to the ground over the last decades using his connection with government backed policies.
Where’s burham or ibeto factories in Nigeria? Dangote was an importer like them but the Nigerian govt decided to roll out a policy on import substitution. What that means is encouraging companies to set up local production of the products they import in order to create jobs opportunities for the teeming population. Did Dangote created the policy? Is the policy for industrialization an attempt to monopoly in favor of anybody? Did Dangote stopped any of his fellow importers from setting up their cement production plant? Did you heard any of them complain anywhere? All of them complained about lack of electricity in Nigeria them, but Dangote dared the devil to generate his own electricity to set up his factory. All of them waited for him to fail confident that he’s not going to break even. The rest today is history.
Dangote made it clear when Nigeria Senate led by the sen. president visited the refinary few days ago that Nigerians should expect PMS to be release between July10-15 because they want the product to settle dawn in the storage tank before releasing into the market. no matter what anybody may want to say Kudos to Dangote and his team and Nigeria government must do everything possible to ensure the success of the refinary.
NNPC should supply crude oil to Dangote
At least Dangote is investing in tangible and profitable ventures, unlike the billions stolen by politicians without traces or visible investments
Production outputs are tied to future contracts. They must have borrowed against resource output. So, they can't breach those contracts, which puts in jeopardy supplies of crude to local refiners. Nigeria is a country of scandals
This is unbelievable news. In a country with president and so called democracy. Tinumbu are you sleeping or slumbering
Oh yea. The sleeping old puppet😂😂
What about Monopoly in the cement industry and import licenses?? The problem is gradually coming home, some one or every region will have to fix their problems.unna done hear am???
Monopoly monopoly
Why is it hard for us to get anything right?
God bless and guide the president of Nigeria
True talk
The give just playing games.they all know what goings on
Don’t mind Dankota, he doesn’t know how to do business without unfair advantages dispite all the subsidies from the government.
If a farmer plant n harvest yam, he can keep some for his family and sell the rest if he so wishes, why can’t Nigeria sell some crude to dangote at local price and sell the rest , must we be slave for our entire existence?
Excuse me, if Nigeria 🇳🇬 is 1st before all the citizens and foreigners living within. And the president bola tinubu, as the commander in chief why must the ioctl,be thwarting the efforts of our economic independence. Where's the power of office of the president? It is a shame to hear that cabal and their colony #iocs is jeopardize the commencement of our broken refineries
Dangote is playing his usual card. A call for government patronage and protection.
" If you are afraid to compete you need not start a marathon "
Dangote exporting to other countries but accusing ppl importing to Nigeria, that they're importing bad fuel😂😂. That country is funny.
There was a banana repulic of nigeria.
Dangote is always afraid of competition..he just wants monopolize everything
THE EFCC SHOULD ARREST MANAGEMENT OF THE IOC , AND PROCUTE THEM ACCORDING TO LAW OF THE COUNTRY
Dangote wants monopoly, thats his modus operandi
What about Monopoly in the cement industry and import licenses?? The problem is gradually coming home, some one or every region will have to fix their problems.
You sabotage NNPC, then hail Dangote and NOT support these private efforts 😳
Nigeria, we hail thee
Our owe dear native land
Dangote is not used to competition, that's one of his problem
Northerners only complain about Nigeria when not in power, why?
I will consider Tinubu a threat to national security, if he does not resolve these issues.
Let Dangote refinery have crude.
It's beginning to make sense now why the west supported Tinubu.
Name them Mr man, stop talking too much.