Dangote-NUPRC Face Off: No Refinery in the World Depends Solely on Domestic Crude Obligation- Dumebi

[@ABCD1234-user-x3v]

PIA says there is an OBLIGATION to provide crude for domestic use. Simple, meet your obligations.

[@ck-sl3kt]

@ABCD1234-user-x3v That would be possible if you ask your governor not to go to Abuja to ask for the allocation for next month. Because crude oil MUST BE SOLD ABROAD to have money to share to your governor which is being used to feed your people in your state. You cried about minimum wage few days ago? It is that oil money that will be shared to your governor to pay minimum wage.

[@ABCD1234-user-x3v]

@@ck-sl3kt PIA preceded new minimum wage. This is the same way “foreign sale” is used to justify ignoring this law. It’s unfortunate. PIA puts this obligation on both NnPC and IOC’s. In fact didn’t you hear the penalty if IOC don’t comply? One of The penalty is that Nigeria will not give them export license for the oil they extract. Our govt doesn’t even know their obligations/reaponsibilities.

[@vok7584]

​@ABCD1234-user-x3v PIA doesn't specify the amount. Dangote has been given 60% of crude already. That is what they can afford to give him. His refinery is too damn big!

[@ck-sl3kt]

@@ABCD1234-user-x3v What PIA is telling you is "WHAT IS LEFT". The problem here is that "WE HAVE ZERO OIL LEFT". So what is hard to understand here exactly? Some of you should not talk about oil business because it is way too complicated than you can process. When you hear they pay oil workers lots of money it is because it is very complicated and complex business. You have to study Economics or Engineering in university for you to be able to process it a little. You see how Rufai is fooling himself because he is clueless of how the process work. So he was just arguing nonsense because he doesn't understand difference between "rate" and "volume". It is NOT what can be explain to you on social media. It is a University course for 4 or 5 whole years to learn. When Dangote was building refinery, I was among those that were laughing out loud because I knew there is no oil in this naija that I live to give Dangote. Tinubu is currently punishing the economy just to help Dangote a little, yet he is still complaining. Any wise person will listen to Dumebi advice in this interview which is: "Think of a way to increase production". Although it is almost impossible because I don't think any bank out there is willing to take that risk considering that our current production cost of $48 per barrel while oil is selling at $80 per barrel

[@jideaina3366]

don't forget that the same PIA said the domestic obligation is on willing seller, willing buyer basis. always remember to add that

[@theosteknon]

When it suits Nigerians they refer to what happens elsewhere. What's wrong with a Nigerian refinery getting all its crude supply locally?

[@Ihuchima]

At the moment, the oil doesn't belong to the Nigerian state. It has been sold upfront.

[@alfazauify]

as him my brother, the guy is pure capitalist.

[@Allwell823]

Dumebi Kachikwu's older brother was once NNPC helmsman.- former NNPC MD & Min. for Petroleum. Any surprise..?

[@tosin5346]

Someone spent $20b on building a refinery and you are saying he didn’t plan properly. Laughable

[@wellswaterllc-ji7nl]

Yes, he didn't. He wants to muscle Nigeria to sell to him and abandon their initial commitment.

[@rojasrachel2257]

yes he didn't.he tought he can override everybody.he met his boss in oil

[@godwinokafor8316]

The thing tire me o my brother. Somebody that is into business for years

[@jerrykelly53]

Dangote had a contract with NNPC. NNPC to pay shares value in crude, but NNPC failed and retracted. So dangote had a plan, but NNPC show am shege

[@frederickouassi990]

Thank you you have brain

[@prosperatu9092]

If oil theft is stopped, 50% of the crude oil problems will be solved

[@AffectionateBaseballStad-in9re]

The issue is that we have the oil here in Nigeria and we have a refinery that is functioning owned by a citizen while none of the ones owned by Nigeria is not functioning. Nigeria's Oil should not be sold upfront while the only refinery is starved of Crude. This is corruption. The NNPC Ltd management should be disbanded.

[@AhmadIshaqZaid-th3gq]

It's as the guest said, forget about the mistakes. We should focus on Nigeria maximizing production to cater for local demand, we are yet to meet up with OPEC quarter .

[@AhmadIshaqZaid-th3gq]

It will be a plus to Nigeria , we can maintain our Forex inflow and as well meet up with local demand, thus we can even get more Forex stability

[@wellswaterllc-ji7nl]

The crude was sold upfront long ago before Dangote came on board.

[@donphilipayo3920]

​@wellswaterllc-ji7nl that's not true.

[@eded4376]

Thanks to all the Arise TV team on this interview, Kudos to you all.

[@onoyomettah7462]

Russia doesn't import oil for their refineries and also fully supply domestically, selling out their oil export in local currency. Nigeria can do the same. Stop comparing us with countries the have no oil but have refinery, or that have oil but no refinery. We have both. Nigerian Government sabotaged it's own 100% refinery, why not Dangote Refinery that it owns less than 15%.

[@FlorenceElu]

Nigeria can do the same, however, your gov't sold our future oil to borrow money for personal gain. As each contract comes to an end, those supplies should be transferred to Dangote. Until then, he should make external contracts that end at the same time as Nigerian futures.

[@faskwillad4765]

How on earth can you compare Russia to Nigeria. Apart from the fact that the OPec quota assigned to Nigeria is less than 2.2million we don't have. The technology for exploration unlike Russia. Also the size of Russia economy and their role in the global oil cartel can't be downplayed.

[@acethecomrade]

Exactly!!!

[@Noob-zi2ce]

Dangote refinery can only be a monopoly if our government is irresponsible enough to not make the other refineries work.

[@zuragoodheart6661]

We soon forget that DUMEBI senior brother was minister of petroleum Buhari regime before Buhari take over and make him state minister, Dumebi and his brother are beneficiary of subsidy

[@darlingtonkraven5951]

You mean Ibe Kachikwu who is an employee to a multinational oil company ExxonMobil

[@jamesofoegbu2648]

Ehhh.....now I see

[@cypriankomoni]

He's doing a shoddy job.

[@EzekielRamadan]

Thank you, any body with a sound mind can see that

[@fredadenekan6177]

Mean also he know something you so not know ...he just you or is it just over you head. Who he is?

[@stan3304]

The oil cabals are sending their reps to defend how they have held Nigeria down. At least we are seeing faces of Nigerian enemies.

[@nadavilla8905]

You caught them 😂😂😂

[@donatusben4021]

Absolutely!

[@Lexofthegoodlife]

Exactly

[@obiilona7273]

He said no refinery in the world depends only on local crude oil and cited South Korea as an example. Well, South Korea has no option because it's not an oil producing country. How about Saudi Arabia and Kuwait, how much crude oil does their refineries import? I dislike when people get on the TV programs to feed us nonsense and propaganda. ..

[@pauljrechezona3126]

Dumebi is a pure liar and twist forwards

[@MaggieIgoni]

Bless you my brother/sister 👍👍💯🙏

[@abimbolaojo2761]

@@obiilona7273 the point is, Dangote is a commercial entity, if those who don't operate in the oil rich countries can survive, he should survive. The point you missed is that he had no assurance of a guaranteed supply of crude from anywhere before he built a refinery big enough to meet the needs of the whole West African countries. Don't be selective in your comprehension.

[@donphilipayo3920]

​@abimbolaojo2761 the law says local demand must be met before exportation of crude. Let NUPRC & NNPCL Enforce the law period.

[@abimbolaojo2761]

@@donphilipayo3920 how will that be met when the crude is sold upfront? The problem in the sector is not as simple as you people say it otherwise solutions would have been pronto.

[@twitchiesonquest4649]

AFRICA WILL NEVER DEVELOPE WITHOUT CHERISHING HER OWN. THIS SHOULDN'T HAPPEN IN NIGERIA

[@onyekachinwimo8288]

Hahahahahaha... 'MALTA'! Rufai,you are digging a hole where there is a dangerous snake... "How come there's sudden activity in MALTA"? Dumebi was trying to run away from the MALTA point... "Do I know what is going on in Malta? Absolutely not"-Dumebi

[@Noob-zi2ce]

Our government always endorse local production to boost the economy. If we can refined the fuel we need, why should we import and weaken our Naira?

[@isiakasaheed1999]

You are wrong on that bro, u mean we should use our crude to settle debt that citizens didn't benefit, nooooo

[@amoskotsheppeshik1701]

Why are the government of Nigeria refining crude oil overseas when they did not satisfy the need of our domestic refineries? Isn't this more expensive,if we can consider the cost of transportation toe and fro transporting raw oil and bring it back after refining!!!!

[@Allwell823]

importation of refined oil is the cartel's source of livelihood...they can stand being deprived of this crucial source.

[@oscarogedegbe7678]

Look at the guy who wants to be president of Nigeria !!!

[@abiodunakinoso347]

Listening to Dumebi Kachikwu about Dangote refinery and the regulator . I am really surprised by his position and wonder how such a person want to lead Nigeria. Can he fight for Nigeria own economic interests? All he kept saying is ‘emotions’ . He can even elaborate the economic interests Nigeria will befits from the refinery. 😢

[@djphat9ja756]

It's clear that most of these presidential candidates are not ready. Haba oga talk well

[@mechanicg3611]

He sounds like he have Europe interests at heart and not Nigerian interests at heart

[@veeama4982]

Ahh! And there's that too

[@tolulopeakinrinmade9163]

So many unpatriotic vagabonds who want to lead us to nowhere... 😂

[@save_theworld]

Russia depends solely on its domestic oil, except if they want to blend for more output

[@rojasrachel2257]

except?that exception

[@nurudeen4267]

Russia cannot be compared to country like Nigeria in terms of oil production Russia is more or less a Gas station

[@OlawaleOladeji]

​@@nurudeen4267 God bless you oo

[@jideaina3366]

​@@nurudeen4267Russia has and produces far more oil than Nigeria. also, Russia is not an OPEC member country but a member of OPEC plus countries. OPEC plus countries are less controlled by OPEC

[@EzekielRamadan]

@@nurudeen4267 Same as Nigeria...

[@acethecomrade]

You have countries doing exports that don't have the oil. How can you have oil and refineries but refuse to touch the oil and rather import to refine then sell???🤦‍♂Make it make sense, please. When you sell the refined oil to other countries, money comes in quite alright but remember you paid quite a sum for the unrefined oil (even though its nothing compared to the returns from selling the refined). That's for the countries that don't have the unprocessed/unrefined oil. Now, for countries that have the unrefined oil like Nigeria in this case, the government owns the oil and wouldn't have to pay a dime to possess it and if you're a local NGO, you won't have to pay the government as much as foreign buyers would pay for the unrefined oil like it should to be in the case of Dangote and the Nigerian government. If only they let him thrive, he'll refine it and sell both locally and internationally. The country will stand to gain much more. Besides, I don't want to believe Dangote's refinery is just another one of his businesses, it's not about the money but rather I like to believe he built that refinery for Nigeria, and I see him as a great patriot. I could be wrong about him but for now, that's just how I feel and what I think. Of course, as a businessman and the sole investor of the refinery project, naturally he is entitled to expect and get his returns but really in the long run the refinery will serve Nigeria a great deal and boost the economy. All this talk about him trying to become a monopoly is rubbish talk and quite daft I must admit.

[@igboukwu]

I never thought that a time would come when some Nigerians would appear on TV to argue that refining crude abroad is better than doing it at home. Tinubu is destroying Nigeria. We should not be having this kind of argument.

[@عائشةأديم]

...those Nigerians are crazy. What happens to local jobs creation?

[@sageechezona3721]

He never said that! There are IOCs in charge of the crude and earlier contract with them on supply was the only way! Get emotions out of your mind and know what real business is! Dang ore is crying foul now because he’s met his match in the monopoly Reims! It’s just what it is! Increase production and Dangote can get more! Simple

[@AbdulwaheedOmobolaji]

​@@sageechezona3721Can you just tell us how monopoly comes in here. Give it or take it, Dangote refinery is the largest refinery in Nigeria, largest in Africa and 7th largest in the world. Who is Dangote competing with? Foreign refineries? Or local refineries. If you putting up a notion of monopoly and competing with foreign refineries because he has his largest cement plant situating in Nigeria not other countries, is Dangote cement plant the largest in the world as his refinery not largest in world and due to that he's facing monopoly because in your own opinion as his cement plant the largest in Nigeria means monopoly to you. My dear brother, you have PHD in someone's progress, when Dumedi was talking about cement price increases he forgotten that naira have been devalued uselessly which make the price of everything skyrocket not only cement. Dangote cement is expensive and he has the largest cement plant and his cement price is 200 naira cheaper than other product why can't others sell theirs at 5000 or less if cost of production doesn't affect them. Must they sell the same price with Dangote? Why castigating Dangote alone tagging it monopoly

[@naijagoatfarmer]

@igboukwu The entire Nigerian oil industry and all its players and actors, both indigenous and international, is NOT under the control of any one man - far less Tinubu. So why should make such a nefarious statement other than solely and simply to slander the current President of Nigeria, Tinubu.

[@adelajasobowale5228]

The contract had been signed before Tinubu came on board as President. He just the scapegoat been blamed

[@oscarogedegbe7678]

This guy has collected part of that 800k..

[@Allwell823]

OPEC rules are for "Law of Comparative Advantage" which makes it Mandatory for OPEC member-States, to first meet Domestic (Crude Oil) Consumption FULLY, before exporting outside. Why will one sell all being produced at home to outsiders, and later use money (or borrow Fx) to start buying the same, to use at home...? Is that economically logical..? Government should be more concerned & preoccupied with the welfare of its citizens; make oil easily available & affordable for the economic activities of its citizens, before "export" - the proceeds of which will only benefit the very few "hanger-ons at the corridors of power" Is it even sane for a major oil producing country in the world, now having a refinery (that can fully service, both domestic & Regional fuel demands), to be Exporting crude oil, and then start Importing its domestic fuel demands from overseas (sic.Malta!)? And the importation, being "subsidized by same Government, with borrowed US$"....! That certainly, is the height of evil..! By the way, Dumebi Kachikwu's older brother, was once an NNPC helmsman.- former NNPC MD & Minister for Petroleum. Any surprise..??!! Dumebi Kachikwu, was once contesting to become Nigeria's President..!!! (Sic) "Some countries sure do have them! "

[@bayoosa-emmanuel2613]

Whilst, trying hard not to be partisan or biased,as much as possible, especially concerning the person of Dangote's refinery... I'd rather we channel our energies to the rought in the NNPC, and the arrowheads,who are constantly pillaging the system...so, sorry for 🇳🇬... it's sad

[@sulaak]

Well said. NNPC has to be reformed or scrapped, this has to be the only oil company in the world that is operating at a loss. The excuses that oil is being stolen at the creek in Niger-Delta is a lie, oil is being stolen at the head office of the NNPC and the buck stop at the desk of the president.

[@listenup2882]

Rot

[@MaggieIgoni]

👌👌👌💯💔

[@ChineduOgbu-x5y]

I have always suspected we Nigerians. For years now I thought the problem was "If we had a refinery"? Now we have a brand new refinery, all of a sudden the problem now becomes "monopoly".

[@adelekeawolere1133]

Nigeria is a zoo. Animals and zoo keepers are cohabiting. The speaker agreed that dangote refinery is of best interest to Nigeria but some animals are talking about monopoly when we have several other non functioning refineries

[@engr.ediyoakpanesen7260]

It's Nigerians that don't want the refineries to work. It serves western interest with regards to energy sovereignty and how it will drive poverty out of Africa. We all saw how Buhari carried DR in it's head. I wish covid didn't happen, maybe the refinery would have worked before he left office. This FG is doing everything to kill DR, they are not even hiding it.

[@JecintaAnowu]

To put things into perspective, Dumebi Kachukwu is Ibe Kachukwu's (former minister and employee of a foreign oil company, Exxon-mobile) brother. Our enemies are within.

[@obinnaokonkwo2465]

Kachikwu is selling the NNPC side of things... Well done sir. Using America as an example, America keeps its own Crude as a strategic reserve not bcos it doesn't have enough... Continue, all you political class will reap what you are sowing.

[@echetabuemeka4087]

Both sides have special interest. Dangote systematically wants monopoly... individuals in NNPC cannot be trusted.

[@nwanzephilip6398]

You are Right. United State of America reasons for buying Crude oil from overseas is simply based on Policy of the government of the day. Democrats believe that fracking or drilling for oil adds to issues of climate change while Republican are for oil explorations. But Nigeria it is a case of Corruption deciding how the oil is explored, Sold and refined

[@popsonjaiyesimi7670]

Amen

[@MaggieIgoni]

​@@nwanzephilip6398👌👌👌💯💯💯💔

[@temiladealamudun5063]

Hmm….. Aptly on 💯👌

[@jerryfarley4606]

This guy wanted to be president of Nigeria? Dangote is Nigeria's and West Africa 's best chance to development. Repeating ideas about obligations and IOC's is nonsense. The fact is that the oil is Nigerian and the first benefit should be Nigerian. The governments stake in the refinery is not the percentage they own, but the development of Nigeria.

[@esirioruma]

I like Rufai he always puts citizenry interest first in his Analysis. Dumabi, How can your house be on fire and your main concerns are brilliant question, contracts signed and not signed, dangote assumed monopoly ???😮

[@brainboot973]

Can we please also ask Dangote what he has done with the 29m barrels supplied to him?

[@jerrykelly53]

Dangote has been producing diesel and jet fuels

[@eded4376]

Mr Kachukwu, you might be right in your genuine explanation. But the truth is that there are other oil league players in Nigeria that are seeking for their personal profits and not for the local masses of Nigeria. Dangote refinery is local and has employed several Nigerians and the production favours Nigerians first. While others takes our crude out, refined, create jobs for others and bring it back into Nigeria for personal gains. Again, Nigerian government went into partnership with Dangote with a contract, these Nigerian business criminals are collaborating with the Europeans against our indigenous establishment because they want Africans to continue to depend on them. Same thing they're doing to Air peace industry in the UK .

[@Lexofthegoodlife]

Exactly

[@MaggieIgoni]

Exactly the crux of the matter... don't know why, it is so hard for us to see/understand the game/situation.....

[@Allwell823]

OPEC rules is for "Law of Comparative Advantage" which makes it Mandatory for OPEC members states to meet Domestic (Crude Oil) Consumption FULLY, before exporting outside. Why will one sell all being produced at home to outsiders, and later use money to start buying the same to use at home...? Is that economically logical..? Government should be more concerned & preoccupied with the welfare of its citizens; make oil easily available & affordable for the economic activities of its citizens - before "export", the proceeds of which will only benefit the very few "hanger-ons at the corridors of power" Is it even sane for a major oil producing country in the world, now having a refinery (that can fully service, both domestic & Regional fuel demands), to be Exporting crude oil, and then start Importing its domestic fuel demands from overseas (sic.Malta!)? And the importation, being "subsidized by same Government, with borrowed US$"....! That's certainly the height of evil..! By the way, Dumebi Kachikwu's older brother, was once an NNPC helmsman.- former NNPC MD & Minister for Petroleum. Any surprise..??!! This Dumebi Kachikwu, was once contesting to become Nigeria's President..!!! "Some countries sure do have them! "

[@NestaVision2007]

The intellectual level of the discussions on these Nigerian news outlets is light years ahead of what is provided on Western news outlets.

[@janellechristian2390]

totally agree

[@ChuckWilliamsTechnology]

@@janellechristian2390 I totally agree..this is real journalism...which we don't have here in the West.

[@ubongambrose4066]

Buhari sold Nigerian oil upfront, what a president Nigeria had for 8 years

[@HillaryEnodiana]

Yet, nothing to show for what he did with the money. Nobody is in jail😢

[@abs2ray]

I'm listening to this interview as a non Nigerian and I'm getting extremely frustrated by the interviewee. I have never seen a nation where so much of the elites are actively working to bring down the nation. Nigeria has a choice to either create local jobs, strengthen the Naira, secure their energy supplies or continue to export their jobs. Dangote is and should be seen as a strategic operator within West Africa. 😊

[@ck-sl3kt]

@abs2ray And who is stopping Dangote? He built a refinery so he can buy crude from ANYWHERE IN THE WORLD. Nigeria as a country, have ZERO oil to give Dangote because of our current system where we owe almost 100 billions of dollars as debt which we need to sell oil in dollar to pay.

[@ehigold1358]

​@@ck-sl3ktAs far as no drop of allocated oil to Nigeria is exported out and no refined oil is imported into Nigeria.

[@osarumwenseobasohan7863]

@@ck-sl3ktzero oil to give dangote but can afford to pay billions in subsidy to import petroleum? You country is a joke sir

[@abs2ray]

​@@ck-sl3kt the refinery is NOT going to get it's allocation for free. It will have to pay a contractual price for it, most probably in Naira. So the group dies not have to spend your much needed Forex reserve to resources which are abundantly available locally. Dangote refineries can supply many of the petrochemical needs of the sub region if working at full capacity. There's clearly a conspiracy to make the refinery fail so that the rich can continue to control and exploit the natural resources of Nigeria. If you cannot see this, then I'm afraid I can't help you.

[@ck-sl3kt]

@@osarumwenseobasohan7863 The billions being paid for subsidy is from oil that was sold in DOLLAR abroad. DO you think before you talk or just rant with emotions? If you think I guess you wouldn't make such comment. Nigeria is a COUNTRY and NOT a CHARITY ORGANIZATION. NNPC has EXPENSES to make from OIL that will be sold in DOLLARS, from which naija will EARN FOREX to pay DOLLAR DEBTS, and still have enough to SHARE to every state governor every month INCLUDING YOUR STATE GOVERNOR! If FG give the OIL to Dangote, from where will YOUR STATE GOVERNOR PAY HIS N70k Minimum wage for next month? Will you go to farm and produce cocoa and rice to export and earn dollar so naija can pay the humongous INTERESTS ON THE DOLLAR DEBT? HELP YOUR FUTURE CHILDREN BY DEVELOPING HABIT OF THINKING TODAY!

[@georgegreyman6673]

This man is so 🤦‍♂️🤦‍♂️🤦‍♂️ He clearly said the South Korea does not have oil. Hence, the two South Korean refineries have no choice but to buy oil outside. We have oil, it's crazy to be importing crude oil The Saudi Arabian don't import crude oil for their large refineries because they have the oil. Why should Dangote import. To me, this man is somewhat talking about dangote with emotions (he spoke about giving Dangote millions for cement😂)

[@samuelogunbiyi4775]

Nigeria has a President but no Leader. Tinubu is not a leader , he is not serving Nigeria : he is serving himself. He has nothing to give Nigeria but he has a lot to take from Nigeria .

[@esinasanansi6394]

God will continue to bless you for your sincerity in dealing with the liars and crooks in the oil sectors. Kachina will rather sell oil to the slave masters than sell to Dangote who will produce to benefit Nigerians and the country as a whole.

[@othmansalys2308]

Objectively, you are not a neutral speaker. you said it should be focused on facts not emotions but you speak with sentiments and bais.

[@chukwudichieji5702]

Did you see how dumebi is tackling dangote on being champion on food production not oil? Can you people see our country?

[@Acyberton]

Arise News and their journalists must be more adaptable and willing to revise their stance when new facts emerge. Currently, they tend to adopt rigid positions, making it challenging to shift perspective. This approach reflects poorly on journalistic integrity. They should ensure that their reporting evolves with the evidence, maintaining a commitment to accuracy over adopting entrenched viewpoints.

[@emekannam5525]

Agreed

[@josiahigbineweka]

Have you watched FOX and CNN? You will know Journalism is fight. You think because NTA are in Bed with this yeye Govt? Nigerians are not used to hard journalism? If you want accountability in Govt then you need your Press to hit hard.

[@jideaina3366]

do they research well before jumping out, arguing from the position of ignorance ?

[@philob4902]

How can you buy your rawmaterial outside , when you have it at home. Who does that? Or are those in charge of Nigeria all bought over? Nigerians are suffering and dying of hunger. Ever Agreements between Nations loses it's validity at a point of survival.

[@onyewuchiprince6525]

Many refineries buy from outside. Even if he would get from the local he should have signed a contract. It shouldn't be a promise

[@philob4902]

@@onyewuchiprince6525 Is it in this case you want to Copy from Outside? Muss you Always Copy from Outside? Then Copy technology , hard Work , Love of one's Country and truth.

[@collinscci7553]

Dangote has ventured into the business of big boy's. If the United States are producing crude and yet buy crude from outside, why won't Dangote do that?

[@tundealawal4398]

You are comparing the US, a country to Dangote, an individual? Nigerians copy rubbish from others to justify their evil intentions.​@@collinscci7553

[@philob4902]

@@collinscci7553 Are they really buying?When their Companies are extracting the oil Worldwide. Do you know that Most of those extracting your oil the so called IOCS are running a rifenery in their various Countries? Let Mr Dankote have His Country's raw Material.

[@lewisnunu8451]

After listening to this man dressed in blue. Africa has a problem 😂 we need deliverance

[@ted.n9609]

Any reasonable person could see that Nigerian government did not have a serious plan to have reserve for crude oil supply to any of their domestic refinery. It is sad to say, they did not expect any of the refineries to work. Hence the government was more interested in borrowing money in advance and using the crude as collateral. The completion of Dangote Refinery caught them by surprise, hence these confusion and blame games. Nigeria should have had reserved crude for Nationa security-related interest .

[@nzarambafelicien9617]

Not busy borrowing money but being corrupts and stealing money.

[@EmekaOkusor]

Nice take 😢😢😢

[@jonesolu]

State how manny years agreement did the government sign and who are people

[@Novetekconcepts]

This man is brilliant

[@amadineriyo5660]

Please Oseni don't sit down their and being asking about Malta, go out and do journalist investigation

[@isangakpabio7158]

They are only fund of blowing hot air....why can't Arise send a team to Malta and investigate that issue?

[@fnm2156]

I dont understand what Kachikwu is saying. So they give shell and co our crude to refine and then sell back to us from abroad . Are they not extracting this crude from Nigeria? Why can't they channel some to him because he is our home business. He didnt need to sign contracts because this is our damned country.

[@Mabeltrots]

Exactly .. if you visit the villages and towns where these crude are being explored you will cry over the condition of the natives there. But shell and these companies don’t give a hoot about it.

[@adelbom-o]

Oga, Singapore and South Korea don't produce crude oil but Nigeria does. The truth is that they've sold the crude oil in advance against kickbacks and there is nothing available for the moment😂😂😂😂

[@Lexofthegoodlife]

Exactly

[@FlorenceElu]

Thank you for the clarity Mr. Dumebi Kachikwu 👏🏾👏🏾👏🏾👏🏾. Nigeria can do the same as Russia. As each future contract comes to an end, those supplies should be transferred to Dangote. Until then, he should make external contracts that end at the same time as Nigerian forward sales.

[@isiakasholabi2094]

I am shocked at Dumebis analysis . There is fire on the mountain if our professionals are so Incompetent . The refinery was delayed for several years, who in the NNPC is doing the strategic planning ? The refinery is not a hurricane or earthquake ? No planning ?

[@eded4376]

Kachukwu please this very interview is more than you please back up.

[@kingsleyomose7584]

Is it that some of these people are paying to get invited to stand logic on its head? What are the criteria, for instance, used in inviting this person? That NNPC, if it owned the Dangote Refinery, would import crude oil for refining, ignoring the availability of Nigerian crude oil? That Nigeria should continue to sell crude oil and import petroleum products? That Dangote Refinery should import crude oil and sell petroleum products in USD to Nigerian marketers? Fortunately for Nigerians, this man did not win the last presidential election in Nigeria. Otherwise, Dangote Refinery would never have become operational.

[@collinscci7553]

The man is making sense. He told you that the government has sold our crude in advance, they did so when they took loans. So, there's no crude to be sold now. So, Dangot can't get it, even the government owned refinery won't get the crude too.

[@donatusben4021]

You have just said some of the things I forgot to mention. Thank you!

[@Mabeltrots]

@@collinscci7553those loans can be repudiated it has been done before … we can refuse to pay those loans because they fraudulent loans forced on us by imf and world bank just to have access to our resources

[@aoayoola7]

Your problem is comprehension or you just chose to ignore the truth.

[@adelajasobowale5228]

The truth is bitter.

[@idowukamaru]

Bro. Rufai believe me you can’t know it all. If Dangote is speaking out now, something is wrong.

[@abimbolaojo2761]

Dumebi is a brilliant responder. Well informed. Very intense interview

[@ObjectiveObserver-xh4vk]

Dumebi is an absolute sellout .; an agent of NNPC and the government. A government that has been crying that it has no dollars to import petrol which makes the pump price to be high , affects the value of the Naira and huge subsidies paid ,SUDDENLY now prefers to import than to give Dangote all the support he needs to sell to us and employ thousands of Nigerians. Economic sabotage right in your face.

[@Sblaze6897]

Nice!!!!

[@adelajasobowale5228]

I agree with you, he knows what he is talking about.

[@azeezahmed5058]

Very smart man. I became his fan when I listened to one of his interviews during the last presidential election

[@salvationlivingston4871]

No just say that he's doing the biding of una master tunlubu Mr Malta. If not what stop NNPCL from accomplished their share of agreement to supply dangote crude oil so that they can owns 20%. Well I expect nothing sensible by the agbados like you Sha.

[@abprecious9554]

God bless you Rufai

[@AmaraKamara-ij1os]

His man have evils plant for Dangote him is one of problem in the exterior

[@clarksonadjarho8276]

So before Dangote refinery, when Nigeria had her working refinery was Nigeria importing crude from other nation when she produces her old crude? Or did the narrative change immediately Dangote refinery surfaced?

[@EKERECLEMENT]

Well analyzed. Objectivity above emotion and public sentiment

[@EmekaOkusor]

Why does Arise journalist sit in their comfort zone and keep asking crazy questions. One would have excepted them to have gone to Dangote to ask for evidence of any contract with the IOC or NNPC to clear that area. Common Arise!

[@wilfredokonkwo-zz7im]

Only if you can search forms of journalism

[@wellswaterllc-ji7nl]

Lazy ,talkative journalists

[@EmekaOkusor]

@@wilfredokonkwo-zz7im Arise is a collective enterprise others can go get the information and handover to those in the studio. Just go n investigate!

[@anthonyoluwole1272]

You didn't mention Saudi Arabia. A country with good leadership, has her own refinery and never import crew oil, depends solemnly on their own crude oil. Nigeria is a failed country with horrible leaders.

[@yusufdaudaishaq2860]

Brilliant Arise! In the past, I misconstrued Rufa'i as a government antagonist but now I realised he is a patriotic nigerian with a passion for a better future of our father's land. Kudus to Arise team 👍

[@Frank-Bediko62]

Rufai, there is a difference between forward sales and using oil as guarantee for loans. Most oil companies do forward sales.

[@obinnadike3923]

There is nothing emotional about wanting the price of fuel to be cheaper.

[@wellswaterllc-ji7nl]

Listen again, this time to understand.

[@OlawaleOladeji]

Having a refinery won't make it cheaper. It will only make it available.

[@obinnadike3923]

@OlawaleOladeji Clap for yourself.

[@MaggieIgoni]

​@@obinnadike3923😂😂... good one there, but not funny...smh.Please, what is the meaning of it (pms) being available but not cheap.... do i smell a rat here!?😮

[@jude-thaddeusd.inyang1278]

​@@MaggieIgoniHe was trying to tutor us on perceptive petroleum economics. Going by the law of demand and supply, how can multiple refineries produce locally, void of usual import accrued cost Viz; landing cost or fuel subsidy etc...and not have energy supply cheap?

[@blck_pnda]

Many reasons why this dude will never be president!!! Sad 😔

[@i0000-y3u]

The guest is on point with the Dangote cement debacle with the Nigeria government, cement is indeed high

[@emekannam5525]

Oyes

[@mohammedsule8489]

Is Dangote cement a monopoly? The answer is NO.Because dangote met other players on board notable Ashaka(Lafarge),Portland,sokoto,Benue so where is the monopoly?Pls lets talk objectively,the fact that a particular player is more commited does not translate into monoply perhaps one should find a suitable lexicon ,

[@Noob-zi2ce]

You have no right to refer to the world because many nonsense that happen in Nigeria are an abomination by world standard.

[@obinnadike3923]

You are missing the point sir, we want the product to be as cheap as possible. Hence, the clamor for the local supply of crude to refineries. What about Saudi, do, they import crude for their refinery? No.

[@rojasrachel2257]

cheap?are you guys okay.why are you guys fighting for Dangote.Have you gotten cement cheap? Crude oil is our source of income as a nation and you want to give dangote just like that.because you feel you will but cheap petol at the filling stations.dey play

[@obinnadike3923]

@@rojasrachel2257 Not just Dangote, all refineries should get their supply locally.

[@ahmedadekunle442]

What I don't understand is that you have 3 to 4 Refinery is not operational because of lack of good maintenance Nigeria Central Bank loan of 435billion dollars to one single man that built the Dangote Refinery projects with Foreign government government government

[@abdulbaisabdul9198]

So unfortunate for we Nigerians. I hope we wakeup and know what's good for us, in next election

[@MaggieIgoni]

Hmmmmm😮

[@Ihuchima]

When it's election time, you will vote ethnicity and religion 😅😅😅.

[@onoyomettah7462]

Most atimes when someone being interviewed starts by saying very brilliant question, the answers that follows are not so brilliant. Please always allow viewers to judge which question is brilliant or not.😂

[@graceossai5891]

Kudos Dr,Rufai and team members. Truth will always prevailed no matter how long it takes.

[@ABCD1234-user-x3v]

Why should external promise of oil supersed domestic requirement? Instead of saying Dangote is asking for oil that was already promised, MAYBE, the govt promised oil that was reserved for domestic consumption.

[@naijagoatfarmer]

@ABCD1234-user-x3v Indeed, as the Q&A reveals, that is exactly what did happen.

[@Chicharito413]

The PIA specified the percentage of crude that should be kept for domestic use/refining. Dangote refinery as well as other domestic refinera have exclusive right to purchase that percentage specifically allocated for domestic use. There's a clear sabotage going on because, yes Nigeria government forward sold its crude meant for export to internationals, the crude for domestic use is NOT regulated by ANY organization in the world. Meaning, Nigeria can drill as much as needed for domestic use. Only the exports are regulated by opec and others.

[@jideaina3366]

not correct. OPEC determines what a member produce. what OPEC allocates to you to produce is a function of your production capacity.

[@jideaina3366]

in a nutshell, you are incorrect to say OPEC only determines what you export. in addition a country's OPEC quota is only on crude oil. condensate and gas are excluded

[@Chicharito413]

@jideaina3366 Not true. OPEC has absolutely no business in your domestic use or consumption. Show me one evidence that opec regulates domestic use, and I'll send you $50 right now

[@jideaina3366]

@@Chicharito413 $50 indeed. I work in that industry and i have been there for 22 years now. go and do your homework well and come back here.

[@Chicharito413]

@jideaina3366, then stop arguing blinding and refer to the OPEC statues, specifically in article 2, paragraph B of Chapter 1. OPEC is, and has always been concerned with only controlling oil EXPORTS. It's even in its name. The domestic use and production is solely controlled by the national governments of each country and sometimes, also by the states e.g. in Texas.

[@Alderton_]

This man is more emotional than he described others to be on this matter. Often this privilege ones will appear before television and be speaking nonsense with confidence.

[@mslplay8592]

Dumebi keeps on saying this doesn't make sense, that doesn't make sense. What actually doesn't make sense is the richest man in Africa who made his wealth mainly from Nigeria will invest $20 billion in a refinery and he just sat down all through without arranging forward contract obligations to get crude oil? Again if Dangote has to source for crude oil can Nigeria sell to him the FX required? I thought one of the benefits of having a local refinery like Dangote in Nigeria is to help reduce demand in FX and stabilise the Naira? I am sure if Dangote wants to get Crude from anywhere in the world he would be able to come up with something but then are Nigerians willing to buy fuel at 1500 to 2000 Naira per litre or is FG going start paying subsidy directly to Dangote?

[@donphilipayo3920]

Good question

[@donaldeasemota2797]

This guest is very intelligent and enlightened. Planning and Law is the issue

[@vincentwilliams9954]

Rufai you have to understand this intelligent speech from this man please!!!!

[@nurudeenabioye4439]

Indeed, Rufai is recalcitrant and unwilling to consider other viewpoints. He is set in his ways and unwilling to compromise. This man's analysis will change many people's perspectives on the issue, Rufai is spreading the tentacles the ignorance due to his obstinacy.

[@Lexofthegoodlife]

That man is a lie

[@alfazauify]

u sound purely capitalist, its clear that he doesn't have Nigerian masses in his statements.

[@ahmadufaruk9496]

Brilliant interview

[@owoblow6632]

I guess this debacle is not ending anytime soon...I applaud the analysis of the guest

[@nurumusa9912]

Even the so called experts are supressing info. On malta

[@wellswaterllc-ji7nl]

Do you have information?

[@esthervanda7401]

​@@wellswaterllc-ji7nlinformation is everywhere don't be dumb

[@wisdomkey5584]

Dangote is a Nigerian and his business will benefit the country. Monopoly or not, Nigeria own refinery is never working, let Monopoly do it and lets enjoyed it. Kilode, you won't do it and you won't let people do it. Hell is your place o, everyone that won't let Nigeria work. Yes, you all are conspired to frustrate him due to stealing and wickedness. You sent oil outside and we the owner are suffering for what is our own. No way, this country must work o, either you people likes it or not.

[@Barone2013]

Don’t know what this guy is talking about. DANGOTE and the NNPC have an agreement on the supply of a specific quantity, but the NNPC can’t meet up to the agreement. Nobody said, all the crude for DANGOTE has to come from NNPC. The capacity of the DANGOTE refinery is more than all of the current daily production in Nigeria, so it is only about a specific quantity.

[@rojasrachel2257]

where's the contract?

[@Barone2013]

@@rojasrachel2257 You don’t have to see the contract. NNPC is a shareholder in DANGOTE refineries. Unbelievable, lots of people with no brain. That’s why Africa deserves to be where they are. Africa will stay poor and their people will suffer for a very long time because the population is a reflection of their leaders, no different.

[@bankoleadebiyi1544]

Rufai should always allow the guest respond to questions and stop interrupting them everytime he wishes. Dumebi well done

[@ngakin]

Rufai cannot stand anyone speaking lies to his face and the faces of Nigerians. That’s why he is always quick to reset the brains of the liars who always look stupid at the end.

[@mike001a]

Well done when Nigeria is at the stage of no return. All he saying here is Nigeria last Tinubu is exporting and importing Nigeria oil from his refinery in Malta. Where is Nigeria in all of his conversation? All these people are the same they don't want Nigeria to work.

[@HillaryEnodiana]

If you are not ok with him, kindly stop watching him. You guys are too bitter and sentimental when it comes to peoples business.

[@AlbertKoru]

Rufai can interrupt if the guest is campaigning instead of answering questions, they are moderators and not spectators.

[@MaggieIgoni]

​@@mike001aBecause of what they benefit or hope to...😮

[@okohstephen2568]

Malta eeeeeh!!! Leave threshold English for now eeeeh!!!

[@fnm2156]

Why not bring in David Hundeyin to balance the equation. You mentioned his report and didn't bring him in to speak on it

[@Sammyblaiz007]

Make NNPC and Tinubu go kpai abeg 🙄😒😒

[@chikarayleigh4534]

Nigerian youths are not serious. Bangladesh just chased away their prime minister who had been in power for 15 years. When the people are ready, even military chiefs will run away.

[@davidamaefula2336]

The government can't promise local refiners supply if they have not done due diligence to know what can get to local refiners. Please as Nigerians we just want what is best for us.

[@isiakasaheed1999]

You are right brother

[@emmanuelkalu8419]

The main issue here is that the so-called president of Nigeria is also the minister of Oil and Petroleum. He is not accountable to anyone, including answering questions from even the rubber stamp representatives. All these discussions are subsidiaries to having the president being in charge of oil.

[@naijagoatfarmer]

Let's have a clearer until the facts: President Bola Tinubu as Minister of Petroleum Resources appointed Heineken Lokpobiri as the Minister of State for Petroleum Resources (Oil) and Ekperikpe Ekpo as Minister of State for Petroleum Resources (Gas) in August 2023. They replaced Timipre Sylva who took over the Ministerial portfolio in August 2019

[@demxon]

Not difficult to know who has been bought.

[@tidenewsnetwork7922]

He is talking on both sides of the month. Now when Dangote buy his crude from abroad and he decides to sell more than what a lot of Nigerians could afford, this politician trader will be one of those who would want Dangote to sell below the market price.

[@usman-p7y]

I agree that we need to increase our production.. very true. I disgree with Dumebi on lack of operational planning in rhe side of Dangote. The withdrawal of NNPCL of its owning 20% initial stake is already a red flag. Why now? Then All of a sudden we are hearing of forward sales of our crude. Didn't NNPCL know about this foward sales?? Something is wrong somewhere. So we cannot completely say that those who are of the opinion that Dangote is been sabotaged are wrong. For me i think Dangote most have thought that NNPCL who is supposed to be his supplier got his back since they were supposed to own 20% stake. And for God sake these loans we are talking about can also be restructured

[@josephlouis7702]

Every fraudulent contracts entered by the previous government should be annulled and re- negotiated so that Nigerian hardship would be alleviated

[@vicoakp]

My problem is why did the regulator discredit Dangote production. If they spoke like you did Mr. Dumebi. It would not stir emotional. The NNPC/Regulator discrediting Dangote is killing Dangote.