Naija nails oil finally - What a feat!

[gout]

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Nigeria's state-owned Port Harcourt refinery is finally back up and running. It is hoped that, along with recent launch of the privately-owned Dangote refinery, Nigeria will soon be able to supply the petrol products needed domestically while positioning Nigeria as a petroleum product exporter.

[RV Heavy Hitter!]

Dangote will likely be the billionaire to hit the trillion status quickly. That Dangote refinery is something to marvel at. If the African Union rallies behind him, energy costs will slowly spiral downward with drill, drill, drill while augmenting with renewables!

[RV Pundit]

They have tried - Dangote put down what eventually became 25-30B investment.
But Nigeria is Nigeria
It cursed.

[hk]

The biggest oil major company capitalization is half a trillion owned by million of investors (Aramco 2T, I don't think dangote is the next saudi arabia) lafarge the biggest cement company has a cap of less than 100b. Dangote to be a trillionaire would have to be bigger than exxon and larfarge by several multiples, ???.

[RV Heavy Hitter!]

The biggest oil major company capitalization is half a trillion owned by million of investors (Aramco 2T, I don't think dangote is the next saudi arabia) lafarge the biggest cement company has a cap of less than 100b. Dangote to be a trillionaire would have to be bigger than exxon and larfarge by several multiples, ???.

Dangote Refinery is way larger than Aramco and sits in a landmass with 1.5 billion customers and a rapidly expanding economy with room to grow. He may need to just tweak his operation model and start bribing those stooges-cum-Presidents from Cairo to Johannesburg. Infrastructure and ease of movement are still the hardest things in Africa, but once there are massive roads/rails connecting the continent, the Dangote Group will likely be the world's richest man in 2035 if they don't assassinate him. He said there are 100x stronger cartels/mafias in the oil industry than in the drug industry. In Nigeria alone, the drug barons working with Shell and foreign multinationals are already scheming to destroy him!

[hk]

Oil refining is a low margin business, the multiples for refining companies is low digits .  At best Dangote refinery will be like reliance industries in India, Mukesh Amabani with several companies is worth $100b. Exploration and production is where the money is, that's why Aramco has $2T market cap.   

[RV Pundit]

Dangote took billion in loans n his state capture of Nigeria might be ending. Hard to see him get beyond 100B. Unless he expand to Africa again in basic commodities

[RV Heavy Hitter!]

Dangote took billion in loans n his state capture of Nigeria might be ending. Hard to see him get beyond 100B. Unless he expand to Africa again in basic commodities

In the US, Forbes does asset valuation when computing the billionaire list. Dangote used 20 billion for the refinery, and after completion and in operation, asset value jumped to 250B. If he was American and his businesses based in the USA, the FORBES list would be putting his net worth north of 250B right now.

[hk]

Dangote refinery value isn't 250b, that's ludicrous. Besides his worth rose by 15b after refinery completion.

[RV Heavy Hitter!]

Dangote refinery value isn't 250b, that's ludicrous. Besides his worth rose by 15b after refinery completion.

Indeed, in Nigeria. If he was American and based in the USA, I'm telling you what Forbes and Wall Street would be valuing his net worth. The African continent economy is valued at 3 trillion, and the African map is shrunk 14 times because of the same formula. There is no way all of Africa's economy is valued at 2.92 trillion as they say!