Dangote could build a refinery because the banks international and local were ready to give him a loan to do so, knowing that if the refinery fails they just simply take over his other businesses and get their money back

Federal government built four refineries, and sold products from there below the market price in the name of helping the poor and paid a subsidy that barely covered the resulting losses. As a result the refineries collapsed,because profits were not sufficient for their upkeep

Plus aince 2016 NNPC spends all the money it makes importing fuel and subsidizing it heavily, leaving no cash for new refineries, and besides why fix existing refineries and sell fuel produced there at a loss because subsidy?

And people like Mr Falana would insist NNPC continues to refine and sell fuel at a loss and then somehow expect NNPC to magically provide money for new refineries ( on top of the corruption and mess in NNPC)

Welcome to Nigeria...

Naegleria:
Dangote could build a refinery because the banks international and local were ready to give him a loan to do so, knowing that if the refinery fails they just simply take over his other businesses and get their money back

Federal government built four refineries, and sold products from there below the market price in the name of helping the poor and paid a subsidy that barely covered the resulting losses. As a result the refineries collapsed,because profits were not sufficient for their upkeep

Plus aince 2016 NNPC spends all the money it makes importing fuel and subsidizing it heavily, leaving no cash for new refineries, and besides why fix existing refineries and sell fuel produced there at a loss because subsidy?

And people like Mr Falana would insist NNPC continues to refine and sell fuel at a loss and then somehow expect NNPC to magically provide money for new refineries ( on top of the corruption and mess in NNPC)

Is Falana d one responsible for d "corruption and the mess" u say is in nnpc?

iwaeda:




https://www.vanguardngr.com/2021/03/hike-in-fuel-price-shame-dangote-could-build-refinery-nigerian-govt-couldnt-maintain-4-falana

He can say it's a shame and it is however, I want to say that it's a strategy to always make sure that the north always have the opportunity and hold via their elites, over the other parts of the country by letting it's people good opportunities.

Instead of fixing one of the defunct refineries even if it means borrowing, No. We have borrowed enough. Any serious country will take rebuilding refineries as an economic priority, given the opportunity to deregulate the downstream sector of the oil and gas industry.

odaniel1:
Instead of fixing one of the defunct refineries even if it means borrowing, No. We have borrowed enough. Any serious country will take rebuilding refineries as an economic priority, given the opportunity to deregulate the downstream sector of the oil and gas industry.

If you want Nigeria to rebuild its refineries, then you must put in place means by which the said refineries would make enough of a profit to keep themselves running well...and you cannot do that without removing subsides.