grandstar:


The country practiced a floating exchange rate policy from 1999 - 2015 and it served the country very well. Why fix it when it ain't broken?

Nigeria has a positive trade balance so I have no idea where you get your stats from.

For a country like Nigeria withpopulation of 200m to be dependent on Dangote's refinery to stabilise the exchange rate is archaic. Nigeria by now should be refining at least 3m barrels daily but is looking up to Dangote to rescue it is sad and regressive

Switzerland with about 8.5m people imports $200b worth of goods annually yet Nigeria with its heft population barely manages $50b and we are talking about overimportation! The country barely imports anything in real terms in the first place!

well between that '99 - '15 we did nt have the oil price low crisis like we just experienced, the fulanis we say " critical times calls for critical measures" ...
GEJ lavish spending of foreign currency for election campaign & hoarding by beneficiaries for the fear of buhari .. b/f xchange scarcity i.e the demand for foreign currency was more than the supply ..we cannt afford to keep operation a floating exchange policy, priority as to be set ... that is the logical thing to do in period of scarcity DD xceeds SS ...
FIY , even then our xchange rate @ $156 means bad, things just got worst. do you even understand d term favourable bal. of trade , weytin una dey export wey make am bal.
nigeria operates a mixed economy i see absolutely nothing wrong if we depend on dangote for a refinery.. if you donnt know that will be the largest refinery in africa , we add to our mega watt grid. if its archaic but will boost out economy who cares..
its not just about where we should be it about making a move to be be where we ought to be.
i think you are archaic & ignorant of many things, every country & economy is pushing for a self sustainance like china, usa & top countries you are advocating for excessive importation..hide ur face.
do you even known switzerland is not on 1-10 list of biggest economies in the world, why you chose to switzerland as a role model appears mischievous.
so you expect someone importing bottle water ,toothpicks to av same access to subsidized rate like oil marketers ,sponspors paying tutions & other manufacturers importing raw materials ... cover your face

deepwater:


You do not know the difference between Ibeto and Innosson, the Igbos have numerous wealthy fellows

Unlike you running over one tinubu family

I'm not here for tribalism, I'm here to open his eyes and if you read my other comments, it will also open your own eyes.

OkaNaUbe:

This is how Obasanjo disadvantaged Ibeto Group but empowered Dangote.

judging by the scale of dangote business
he needs it.
Innoson on the other hand should answer for what went down with GTBank. let the court be the judge.
No sentiments here
Refinery will solve a lot of problems for NIGERIA

Racoon:
While they suppress the investment of great Igbo men like Ibeto Group, Innoson Motors.Paddy paddy government.

who is suppressing who?
una don start again

Ibeto was an importer

tell me which govt will support an importer over someone who was ready to produce locally

Ibeto did not strategize well and got the rug pulled off his feet.

Did he open cement factory and the govt closed it down?

Ugosample:


judging by the scale of dangote business

he needs it.

Innoson on the other hand should answer for what went down with GTBank.
let the court be the judge.

No sentiments here

Refinery will solve a lot of problems for NIGERIA

They don't know government all Over the world subsidize privates companies in key sectors of the economy.

Catastrophe1:
God is our provider down the East, anybody that says our business will not thrive they and their families will never succeed. Iseeeee

what does this have to do with the topic?

haladadon:
whether you give him support or not he will still loose billions come 2019.

dangote is betting on the wrong team of 7.0 odds

wack analysis.tot reno was smarter than dis.....zuckerbergs wealth also dropped in the latast forbes ranking.did buhari cause that too.......meanwhile adenugas wealth increased.............of course u wont attribute that to buhari now ...would u?

Topmaike007:
not tribalism Obj/Atiku really dealt with Ibeto,and such man can never support Atiku,cos as an igbo man I can't even support Atiku.

ibeto did himself

But because our people are sentimental

that is why many of us are still singing that rhetoric

seunfly:

No need to play victim card, Ibeto tried to play smart. Was Ibeto the only cement producer at that time? Why was Ibeto targeted?
Ibeto did not have issues because he was igbo man, he had issues because he played smart by deviating from backward integration agreement signed by all major cement importers and federal government.

Federal government gave all cement importers a quotas of cement to import and then reverse it to locally manufactured cement which all others producers complied with while Ibeto renaged and he was sutchanging other manufacturers because it was more profitable to bagged cement than produce cement then.

You people tends to quickly takes side once it involves igbos, that is why criminals will quickly play victim card because he knows his people will gladly support him. The case of Innoson is still fresh on our mind.

Interesting. Source please.

Dangote owns Nigeria.

ebuk4real:


No doubt that. My message is if only Dangote got 75billion forex support, how much did his contemporaries got?

How many of his contemporaries are actively building a USD $15 Billion project, with confirmed work on the ground, and a solid commitment from all stakeholders? If somebody like Innoson was building something of this scale, and didn't get the same level of support, then we can compare and contrast.

Of course, CBN's commitment is a result of lobbying and requests, just like in other part of the world. I don't think the Fed in the US, or Bank of China will just support a random business without lobbying, phone calls, and visits. If his contemporaries don't ask, they won't get, and it's up to them to complain that they are not getting the level of support they need.

CBN has said simply: you bring this type of investment - which obviously needs a ton of forex - and we're here to help. It's a sign to other investors, local and foreign; to Dangote's suppliers in Europe, India, and Asia; to members of the foreign press; to shareholders in Dangote locally and abroad; and especially to naysayers in European and American industrial communities whose business would suffer because of this refinery: this project is not going to fail, and the Government has the facility to support it.

ericsmith:



well between that '99 - '15 we did nt have the oil price low crisis like we just experienced, the fulanis we say " critical times calls for critical measures" ...
GEJ lavish spending of foreign currency for election campaign & hoarding by beneficiaries for the fear of buhari .. b/f xchange scarcity i.e the demand for foreign currency was more than the supply ..we cannt afford to keep operation a floating exchange policy, priority as to be set ... that is the logical thing to do in period of scarcity DD xceeds SS ...
FIY , even then our xchange rate @ $156 means bad, things just got worst. do you even understand d term favourable bal. of trade , weytin una dey export wey make am bal.
nigeria operates a mixed economy i see absolutely nothing wrong if we depend on dangote for a refinery.. if you donnt know that will be the largest refinery in africa , we add to our mega watt grid. if its archaic but will boost out economy who cares..
its not just about where we should be it about making a move to be be where we ought to be.
i think you are archaic & ignorant of many things, every country & economy is pushing for a self sustainance like china, usa & top countries you are advocating for excessive importation..hide ur face.
do you even known switzerland is not on 1-10 list of biggest economies in the world, why you chose to switzerland as a role model appears mischievous.
so you expect someone importing bottle water ,toothpicks to av same access to subsidized rate like oil marketers ,sponspors paying tutions & other manufacturers importing raw materials ... cover your face

So much of what you wrote is so wrong.

Almost all countries practice a floating exchange rate. Countries have fled a pegged exchange rate system or very tight peg because it is associated with crisis. Whether it is Chile in the early 80"s, Mexico in 1994, Thailand, Malaysia and Indonesia in 1997, Russia in 1998, Brazil in 1999 or Argentina in 2001, the lessons learnt were bitter and hard. A pegged exchange rate is a recipe for misery.

Nigeria has had favourable trade balances for well over a decade so I wonder where you get your stats from.

Who told you every country is pushing for self sustenance when Eastern European countries are dying to enter the largest free trade area in the world- the European Union and where Brexit has led to the decline of British fortunes rather than the other way round

Countries are signing free trade agreements everywhere and Nigeria is contemplating an African wide union. Countries don't grow rich by being self sufficient- they do so by focusing resources on where they have comparative advantage.

There's nothing wrong in importing toothpicks or not making a single one.

Ugosample:

ibeto did himself
But because our people are sentimental
that is why many of us are still singing that rhetoric

can you pls help me to shed more light on the issue

nextstep:


How many of his contemporaries are actively building a USD $15 Billion project, with confirmed work on the ground, and a solid commitment from all stakeholders? If somebody like Innoson was building something of this scale, and didn't get the same level of support, then we can compare and contrast.

Of course, CBN's commitment is a result of lobbying and requests, just like in other part of the world. I don't think the Fed in the US, or Bank of China will just support a random business without lobbying, phone calls, and visits. If his contemporaries don't ask, they won't get, and it's up to them to complain that they are not getting the level of support they need.

CBN has said simply: you bring this type of investment - which obviously needs a ton of forex - and we're here to help. It's a sign to other investors, local and foreign; to Dangote's suppliers in Europe, India, and Asia; to members of the foreign press; to shareholders in Dangote locally and abroad; and especially to naysayers in European and American industrial communities whose business would suffer because of this refinery: this project is not going to fail, and the Government has the facility to support it.

No one can deny the fact that Dangote Group always got preferential treatment from successive administration......
It cut across all the biz area of Dangote group........
In 1996, Dangote admitted that a government mandate once forced him to import so much rice.......
that the local market crashed by almost 80 percent.....
U can only get this type of favor if you are from the North, a Muslim....have easy access to political favoritism...
And enjoys support from the Sokoto Caliphate, the spiritual and political seat of power of Muslims....
Dangote lobbying CBN......thats the joke of the year.....
CBN will even bring its vault to Dangote with a call to Aso Rock.....
Sincerely, there is need for concern how one single person wield so much power to influence Nigerian economic process.

GOOD MOVE CBN!

The utility of foreign exchange (or reserves) should not be to just have it stored in vaults doing absolutely nothing for the general population. Accordingly, glad to see that CBN ensuring that the real sector and manufacturers in Nigeria such as Dangote Refinery gets priority access to foreign exchange, and in return this refinery and petrochemical and fertilizer complex when completed will not only help ensure that Nigeria no longer wastes foreign exchange on the obscenely stupid importation of petroleum products (with the insidious corruption attendant thereto) but also even helps Nigeria to earn more foreign exchange in exports of fertilizer, petrochemicals and petroleum products. Kudos!

Willie2015:


No one can deny the fact that Dangote Group always got preferential treatment from successive administration......
It cut across all the biz area of Dangote group........
In 1996, Dangote admitted that a government mandate once forced him to import so much rice.......
that the local market crashed by almost 80 percent.....
U can only get this type of favor if you are from the North, a Muslim....have easy access to political favoritism...
And enjoys support from the Sokoto Caliphate, the spiritual and political seat of power of Muslims....
Dangote lobbying CBN......thats the joke of the year.....
CBN will even bring its vault to Dangote with a call to Aso Rock.....
Sincerely, there is need for concern how one single person wield so much power to influence Nigerian economic process.

Dangote has NOT gotten any "preferential treatment" that has NOT been made available to other Nigerian businesses.

You speak about rice importation, and while I am unfamiliar with your alleged story, Dangote was/is NOT the first nor the only Nigerian business to have been granted an import license. So what happened to the other licensees? Even with this refinery project, suffice it to note that at least 28 licenses had been issued for private refineries (dating back to the Obasanjo administration) BEFORE Dangote was granted a private refinery license by the Jonathan government. In fact, Dangote (and Otedola) had the winning bid in respect of the privatization of the Kaduna and Warri refineries revoked by the YarAdua government, and lost out in the bid for Eleme Petrochemicals (to Indorama) under the Obasanjo government. There's a reason that not everybody who is in the same classroom or school achieves the same level of success.

Ugosample:

ibeto did himself
But because our people are sentimental
that is why many of us are still singing that rhetoric

Topmaike007:
can you pls help me to shed more light on the issue

Ibeto's biggest problem were his own people in Ebonyi State who flatly refused to let him take possession of the privatized Nkalagu Cement.

Nkalagu Cement was privatized at the same time as BCC Gboko (bid won by Dangote), Cement Company of Northern Nigeria (won by BUA), Edo Cement Company (also won by BUA), and Calabar Cement Company (won by Flour Mills/Holcim). Dangote had pretty much the same problems in Gboko that Ibeto has had at Nkalagu, with the Benue State government (led by then Gov George Akume, I believe) fighting tooth and nail to prevent Dangote taking control and instead seeking Oyibo investors (such as the then Blue Circle and LaFarge, each of which had their own Nigerian operations). Dangote worked extremely hard to overcome that initial hostility, and went ahead to virtually rebuild the BCC plant, raising production from 400,000 tons/yearly to 4 million tons/yearly while building a community hospital, schools and supplying electricity to the host community and large swathes of the state from its captive power plant. Meanwhile, it was until 2018 that Ibeto finally resolved its issues with the Ebonyi government and the Nkalagu community, and finally signed a contract with China's Sonoma to build new plants.

PS: Btw, at some point Ibeto was the ONLY Nigerian cement company that was importing ALL of its products, while all of the other companies (Dangote, BUA, LaFarge, Flour Mills/Holcim, etc.) were manufacturing locally.

grandstar:


The country practiced a floating exchange rate policy from 1999 - 2015 and it served the country very well. Why fix it when it ain't broken?

Nigeria has a positive trade balance so I have no idea where you get your stats from.

For a country like Nigeria withpopulation of 200m to be dependent on Dangote's refinery to stabilise the exchange rate is archaic. Nigeria by now should be refining at least 3m barrels daily but is looking up to Dangote to rescue it is sad and regressive

Switzerland with about 8.5m people imports $200b worth of goods annually yet Nigeria with its heft population barely manages $50b and we are talking about overimportation! The country barely imports anything in real terms in the first place!

I hope you realize that all of those Swiss stats that you are reeling out is virtually all the result of the activities of PRIVATE companies/persons? So one wonders what exactly you are waiting for as a PRIVATE citizen to keep up with the Swiss?!

Funny how many Nigerians talk about "Nigeria" as if it is some alien stand-alone entity completely divorced from them. Fact is that the Swiss built Switzerland. Dangote has done his bit (in fact more than his bit) for Nigeria, but what exactly have YOU chatterers done?!

The saddest thing about this thread is that not one single person read the write-up. This is 2016 news! And a mod moved this to front page?

I tire for Seun and him mods.

9jaRealist:



Ibeto's biggest problem were his own people in Ebonyi State who flatly refused to let him take possession of the privatized Nkalagu Cement.

Nkalagu Cement was privatized at the same time as BCC Gboko (bid won by Dangote), Cement Company of Northern Nigeria (won by BUA), Edo Cement Company (also won by BUA), and Calabar Cement Company (won by Flour Mills/Holcim). Dangote had pretty much the same problems in Gboko that Ibeto has had at Nkalagu, with the Benue State government (led by then Gov George Akume, I believe) fighting tooth and nail to prevent Dangote taking control and instead seeking Oyibo investors (such as the then Blue Circle and LaFarge, each of which had their own Nigerian operations). Dangote worked extremely hard to overcome that initial hostility, and went ahead to virtually rebuild the BCC plant, raising production from 400,000 tons/yearly to 4 million tons/yearly while building a community hospital, schools and supplying electricity to the host community and large swathes of the state from its captive power plant. Meanwhile, it was until 2018 that Ibeto finally resolved its issues with the Ebonyi government and the Nkalagu community, and finally signed a contract with China's Sonoma to build new plants.

PS: Btw, at some point Ibeto was the ONLY Nigerian cement company that was importing ALL of its products, while all of the other companies (Dangote, BUA, LaFarge, Flour Mills/Holcim, etc.) were manufacturing locally.

till today I still ask God why he made me an indigene of Ebonyi State,they are enemy of progress to themselves,so they wanted an outside to benefit from them but don't want their own person to benefit from them...

nextstep:


How many of his contemporaries are actively building a USD $15 Billion project, with confirmed work on the ground, and a solid commitment from all stakeholders? If somebody like Innoson was building something of this scale, and didn't get the same level of support, then we can compare and contrast.

Of course, CBN's commitment is a result of lobbying and requests, just like in other part of the world. I don't think the Fed in the US, or Bank of China will just support a random business without lobbying, phone calls, and visits. If his contemporaries don't ask, they won't get, and it's up to them to complain that they are not getting the level of support they need.

CBN has said simply: you bring this type of investment - which obviously needs a ton of forex - and we're here to help. It's a sign to other investors, local and foreign; to Dangote's suppliers in Europe, India, and Asia; to members of the foreign press; to shareholders in Dangote locally and abroad; and especially to naysayers in European and American industrial communities whose business would suffer because of this refinery: this project is not going to fail, and the Government has the facility to support it.

You have a point....


But scratch this part

"European and American industrial communities whose business would suffer because of this refinery"

That is not going to happen

Win win it shall be for both parties

650k barrels is not enough to cause ripples to foreign suppliers in bulk.

if we are talking 5m barrels

then that's a big deal

grandstar:


So much of what you wrote is so wrong.

Almost all countries practice a floating exchange rate. Countries have fled a pegged exchange rate system or very tight peg because it is associated with crisis. Whether it is Chile in the early 80"s, Mexico in 1994, Thailand, Malaysia and Indonesia in 1997, Russia in 1998, Brazil in 1999 or Argentina in 2001, the lessons learnt were bitter and hard. A pegged exchange rate is a recipe for misery.

Nigeria has had favourable trade balances for well over a decade so I wonder where you get your stats from.

Who told you every country is pushing for self sustenance when Eastern European countries are dying to enter the largest free trade area in the world- the European Union and where Brexit has led to the decline of British fortunes rather than the other way round

Countries are signing free trade agreements everywhere and Nigeria is contemplating an African wide union. Countries don't grow rich by being self sufficient- they do so by focusing resources on where they have comparative advantage.

There's nothing wrong in importing toothpicks or not making a single one.

You have a very good perspective of things

Ugosample:



You have a very good perspective of things

Thank you

grandstar:


The country practiced a floating exchange rate policy from 1999 - 2015 and it served the country very well. Why fix it when it ain't broken?

Nigeria has a positive trade balance so I have no idea where you get your stats from.

For a country like Nigeria withpopulation of 200m to be dependent on Dangote's refinery to stabilise the exchange rate is archaic. Nigeria by now should be refining at least 3m barrels daily but is looking up to Dangote to rescue it is sad and regressive

Switzerland with about 8.5m people imports $200b worth of goods annually yet Nigeria with its heft population barely manages $50b and we are talking about overimportation! The country barely imports anything in real terms in the first place!

From the grow the naira gang

9jaRealist:


I hope you realize that all of those Swiss stats that you are reeling out is virtually all the result of the activities of PRIVATE companies/persons? So one wonders what exactly you are waiting for as a PRIVATE citizen to keep up with the Swiss?!

Funny how many Nigerians talk about "Nigeria" as if it is some alien stand-alone entity completely divorced from them. Fact is that the Swiss built Switzerland. Dangote has done his bit (in fact more than his bit) for Nigeria, but what exactly have YOU chatterers done?!

Those stats I am reeling out can easily be gotten from wikipedia and you also have Nigerian stats as well. There's nothing big about stats. Even Nigeria has the Nigerian Bureau of Statistics.

What do you mean chatterers? I'm I the government? Do I look like the policy maker? And for your info even an ordinary farmer contrivutes to the economy by his farming. It is not until you build a multibillion dollar factory that you're a contributor!

Dangote Bill Gates or even Bezos (Now the world's richest man) can not change the country. The primary thing that transforms or change countries are policies.

Dangote said he won't be where he is today were it not for the bank recapitalization of carried out by Soludo.

Many who want to do things are not provided bank loans. Those who get these loans face a stiff business killing 25-35% on them! Bring lending rates down to single units and you'll see the economy sizzle!

Economic policies are the foundation for economic growth and are the primary determinants how good your economy does. The government should end chattering.

grandstar:


Those stats I am reeling out can easily be gotten from wikipedia and you also have Nigerian stats as well. There's nothing big about stats. Even Nigeria has the Nigerian Bureau of Statistics.

What do you mean chatterers? I'm I the government? Do I look like the policy maker? And for your info even an ordinary farmer contrivutes to the economy by his farming. It is not until you build a multibillion dollar factory that you're a contributor!

Dangote Bill Gates or even Bezos (Now the world's richest man) can not change the country. The primary thing that transforms or change countries are policies.

Dangote said he won't be where he is today were it not for the bank recapitalization of carried out by Soludo.

Many who want to do things are not provided bank loans. Those who get these loans face a stiff business killing 25-35% on them! Bring lending rates down to single units and you'll see the economy sizzle!

Economic policies are the foundation for economic growth and are the primary determinants how good your economy does. The government should end chattering.

Dude, economic policy are merely one aspect of a successful economy.

The “best; economic policy is not worth the paper it is written on in the absence of the actions of PRIVATE citizens. Accordingly, it was not just Soludo’s bank reform policies that aided Dangote’s success. Rather, it required the foresight, courage, and actions of PRIVATE citizens such as the Elumelus (UBA), Ovias (Zenith), Adeolas (GTB), the Petersides (Stanbic IBTC) of this world and myriad other PRIVATE investors and citizens for those policies to bear fruit and for PRIVATE citizens like the Dangotes, Otudekos, Ezenwas of this world as well as several others to benefit therefrom. Ultimately, every successful advanced economy (even supposedly communist China) has been due the actions of PRIVATE individuals - and not just by chattering on the Internet and comparing largely meaningless stats.

9jaRealist:


Dude, economic policy are merely one aspect of a successful economy.

The “best; economic policy is not worth the paper it is written on in the absence of the actions of PRIVATE citizens. Accordingly, it was not just Soludo’s bank reform policies that aided Dangote’s success. Rather, it required the foresight, courage, and actions of PRIVATE citizens such as the Elumelus (UBA), Ovias (Zenith), Adeolas (GTB), the Petersides (Stanbic IBTC) of this world and myriad other PRIVATE investors and citizens for those policies to bear fruit and for PRIVATE citizens like the Dangotes, Otudekos, Ezenwas of this world as well as several others to benefit therefrom. Ultimately, every successful advanced economy (even supposedly communist China) has been due the actions of PRIVATE individuals - and not just by chattering on the Internet and comparing largely meaningless stats.

So how will the Elumelus and co have achieved that feat without a change in policy? Policy is the soil. Ovia had no intention in the next 5yeara to recapitalise the capital base to 25b as this policy forced him immediately to make his bank public. Without a change of policy, he would not acted. Period!

I'm I to recapitalise my bank? I don't have one. Did you recapitalise yours or you were busy chattering?

Qq

grandstar:


So how will the Elumelus and co have achieved that feat without a change in policy? Policy is the soil. Ovia had no intention in the next 5yeara to recapitalise the capital base to 25b as this policy forced him immediately to make his bank public. Without a change of policy, he would not acted. Period!

I'm I to recapitalise my bank? I don't have one. Did you recapitalise yours or you were busy chattering?

Qq

What was confusing about "economic policies are merely ONE aspect of a successful economy"?

Did you confuse that with economic policy being entirely irrelevant to economic success? Again, for the avoidance of any doubt, economic policy is substantively WORTHLESS without the actions of PRIVATE citizens.

Many banks gave up their licenses rather recapitalize under Mr. Soludo's policy. Thus, it was NOT the policy by itself that was the crucial success factor but rather the Elumelus, Ovias, etc., picking up the guantlet.

9jaRealist:


What was confusing about "economic policies are merely ONE aspect of a successful economy"?

Did you confuse that with economic policy being entirely irrelevant to economic success? Again, for the avoidance of any doubt, economic policy is substantively WORTHLESS without the actions of PRIVATE citizens.

Many banks gave up their licenses rather recapitalize under Mr. Soludo's policy. Thus, it was NOT the policy by itself that was the crucial success factor but rather the Elumelus, Ovias, etc., picking up the guantlet.

In every policy there will always be winners and losers. This was no exception.

Also you don't have to be an Otedola or an Ovia to be considered important to an economy

Thailand one time needed to be producing 17000 engineers yearly to meet the needs of the economy but was only able to deliver 12000 engineers. This shortage of engineers dismayed investors and many went to set up factories in China as well. So even a shortage of engineers can constrain growth. That is why many middle income countries are caught in the middle income trap- a shortage of skilled labour needed to take the country to the next level

One of the biggest beneficiaries of the bank recapitalisation was the middle class. Consumer lending to them flourished soon after. Prior to this period it was mostly bank workers able to enjoy such loans. Many could now buy cars by putting just 10% down.

So both the small and big guy are important to growth.

grandstar:


In every policy there will always be winners and losers. This was no exception.

Also you don't have to be an Otedola or an Ovia to be considered important to an economy

Thailand one time needed to be producing 17000 engineers yearly to meet the needs of the economy but was only able to deliver 12000 engineers. This shortage of engineers dismayed investors and many went to set up factories in China as well. So even a shortage of engineers can constrain growth. That is why many middle income countries are caught in the middle income trap- a shortage of skilled labour needed to take the country to the next level

One of the biggest beneficiaries of the bank recapitalisation was the middle class. Consumer lending to them flourished soon after. Prior to this period it was mostly bank workers able to enjoy such loans. Many could now buy cars by putting just 10% down.

So both the small and big guy are important to growth.

Strawman’s Argument.

When I asked you what YOU yourself have contributed to Nigeria’s economy like the mostly PRIVATE citizens of Switzerland whose numbers you were misguidedly reciting, did you think that I had mistaken YOU for an Otedola or an Ovia.

Nonetheless, the topic is about Dangote and Dangote’s refinery, so it is bemusing that you seem confused when his financiers whom YOU yourself introduced into the discourse as critical success factors become the subject of proper analyses.