APC lied Dangote refinery will bring about reduction in fuel price.

Here are the reasons fuel price will remain the same or increase:

1) Dangote will now have monopoly in the market for oil refining, due to the fantastically corrupt APC regime mismanagement of the Turn Around Maintenance(TAM) contracts of the four refineries since 2015. All four refineries have now been shutdown, in anticipation of Dangote refinery coming on stream.


https://www.youtube.com/watch?v=Wg7lfHL_l1w

2)Minister of Finance, Budget and National Planning, Zainab Ahmed confirmed Dangote refinery will be selling refined oil at the international oil price in US dollars. The only cost savings will be in the shipping cost, this when weighed against the forex advantage provided to Dangote by the CBN cancels the benefit.

3) Dangote will be in a hurry to recoup the $13 billion dollars he spent on the refinery and can leverage his political connections to scuttle other investors given approval to setup refineries.

4) The refinery is in the Lekki Free Zone, so will enjoy a tax holiday. And other advantages listed below.

BMC zombies can quote me. The fuel price will go up now Dangote has monopoly in oil refining.

Dangote refinery my not even be ready anytime soon.

I visit there regularly.

Macphenson:
Dangote refinery my not even be ready anytime soon.

I visit there regularly.

I should come on stream in 2021-2022.

Seriously I can't be arguing with that stupid woman who has nothing her upstair.

Lipscomb:
Seriously I can't be arguing with that stupid woman who has nothing her upstair.

He received alot of subsidy from CBN. The costs will out weight the benefits for the country.

https://www.businesstimes.com.sg/government-economy/africas-richest-man-got-a-fistful-of-dollars-in-nigerian-currency-squeeze

Macphenson:
Dangote refinery my not even be ready anytime soon.

I visit there regularly.

may it never be ready if it is to impose more hardship on Nigerians
Dangote is a hardcore monopolist without care for the people

surgical:
may it never be ready if it is to impose more hardship on Nigerians
Dangote is a hardcore monopolist without care for the people

That is the major reason him having monopoly in oil refining will have a negative effect long-term. His only concern will be to recoup the $13 billion dollars he spent. Government will have to choice but to introduce subsidy that will be paid to him, and we will be back to square 1. Government should have given the other investors like BUA group the same incentives.

There is no country monopoly of a key natural resource like oil and gas run by private interests has proven beneficial to the common man.

stop taking APC serious or u will die prematurely. they are bunch liars

slivertongue:
stop taking APC serious or u will die prematurely. they are bunch liars

BMC zombies will state otherwise. All the government had to do was fix the four refineries and create a level playing ground to prevent the monopoly.

Their fantastical corruption will never see them refine even one barrel in any of the four refineries.

RuudVanNisteroy:
BMC zombies can quote me. The fuel price will go up now Dangote has monopoly in oil refining.

That is what they are already preparing Nigerians for with all these talk of deregulation

RuudVanNisteroy:


That is the major reason him having monopoly in oil refining will have a negative effect long-term. His only concern will be to recoup the $13 billion dollars he spent. Government will have to choice but to introduce subsidy that will be paid to him, and we will be back to square 1. Government should have given the other investors like BUA group the same incentives.

There is no country monopoly of a key natural resource like oil and gas run by private interests has proven beneficial to the common man.

Imagine buhari interpreting that graph

dawno2008:


Imagine buhari interpreting that graph

LMAO

SarkinYarki:

That is what they are already preparing Nigerians for with all these talk of deregulation

Nigeria should prep themselves for a fuel increase when the refinery come on stream. Buhari the epitome of hypocrisy and corruption failed to fix the refineries in 5 years. They are now all shutdown and would have been competing with Dangote refinery if they were working at full capacity.

The subsidy provided in US dollars for the refinery would have been better spent fixing the 4 refineries.

Nigeria's total petroleum refining capacity is 445,000 barrels in the four refineries.

Rosskii,TonyeBarcanista,NGpatriot,,sarrki,Simplyleo

RuudVanNisteroy:


BMC zombies will state otherwise. All the government had to do was fix the four refineries and create a level playing ground to prevent the monopoly.

Their fantastical corruption will never see them refine even one barrel in any of the four refineries.

just as the criminals and thieves you supported for 16 years fixed the refineries, even when Nigeria was making billions of dollars in revenue. hypocritical supporters of looters. shameless people that supposed to bury their heads in shame, still here wailing about Dangote refinery already. such shameless looters and losers

Eriggs:
just as the criminals and thieves you supported for 16 years fixed the refineries, even when Nigeria was making billions of dollars in revenue. hypocritical supporters of looters. shameless people that supposed to bury their heads in shame, still here wailing about Dangote refinery already. such losers

Is that an excuse for the "change agents" to continue the looting of the Turn Around Maintenance to fix the refineries. Buhari and Osinbajo promised one new refinery every year.

RuudVanNisteroy:


Is that an excuse for the "change agents" to continue the looting of the Turn Around Maintenance to fix the refineries. Buhari and Osinbajo promised one new refinery every year.

start from your 16 years of failure, if you want to talk about dead refineries. before talking about 5 years of Osinbajo and PMB. stop being a hypocrite. a daily wailing hypocrite

Eriggs:

start from your 16 years of failure, if you want to talk about dead refineries. before talking about 5 years of Osinbajo and PMB. stop being a hypocrite. a daily wailing hypocrite

Where is the change?

RuudVanNisteroy:

Where is the change?

where is Nigeria's loot?

Eriggs:
where is Nigeria's loot?

Bullion vans in Bourdillion.

Lol... GeJ could av built 3 of the Dangote refinery if he wasn't doing chop-life presido. He was building school(almajiris). Diezani too was sand filling Lagos to build skyscrapes.

CodeTemplar:
Lol... GeJ could av built 3 of the Dangote refinery if he wasn't doing chop-life presido.

Goodluck Jonathan had the opportunity to change Nigeria when oil was $100 dollars a barrel. He could have fixed the refineries and built additional ones.

That is why Buhari was voted for in 2015 to bring about change and reduce corruption. Buhari has turned out to be more corrupt than than his predecessor.

1. The refinery hasn't come on stream

2.The reason why our old refineries have broken down, and why, apart from Dangote refinery, not much has come in the way of new refineries, is very simple . Oil subsidy

3.Under the subsidy regime, we sold fuel less than its production cost , thus over the years it became unprofitable to produce fuel in Nigeria

4. At the end of the day, we have worn out refineries

5.In 2018, NNPC said fuel would have cost N165 if we were refining in the country. Meanwhile, we were selling it then at N145, and some people wanted to sell it at 87 naira self....

6.Even what Buhari has been doing is raising the price to a level where he can pay subsidy without pains....which is why one should not take the idea that subsidy has gone seriously

7.NNPC has also been spending the money that should have gne on repairing the refnereis on subsidy

8. People like the op prefer subsides because we are poor. Meanwhile subsides, in conjunction with the corruption and mismanagement of the oil sector, as well as the fact that NNPC is owned by government is the reason why we dont have good refinereis.


Let's be realistic. The harsh truth is, unless we run our oil sector as a business, and the truth is, we should have done that since the good old days, we would have been in a better place.

Eriggs:

start from your 16 years of failure, if you want to talk about dead refineries. before talking about 5 years of Osinbajo and PMB. stop being a hypocrite. a daily wailing hypocrite

Eriggs, your hero is part of the problem

He prevented GEJ from revenge subsidy, and as such GE was forced to sink billions into thhe big hole called subsidy, instead of saving money and allowing investment to fix the refineries

GEJ was corrupt . But if he had removed subsidy, by now, we would have had more working refineries in the pipeline because it would have become profitable to refine fuel in Nigeria.

RuudVanNisteroy:


Goodluck Jonathan had the opportunity to change Nigeria when oil was $100 dollars a barrel. He could have fixed the refineries and built additional ones.

That is why Buhari was voted for in 2015 to bring about change and reduce corruption. Buhari has turned out to be more corrupt than than his predecessor.

It is not a matter of fixing the refineries when we had high oil prices, it is a matter of making it profitable to refine fuel in Nigeria.

The problem with subsidy is the thing called price controls. Once there is price control in the economy, the end result is that people will engage in sharp practice to loot and loot.

Under GEJ, many of the people in the oil business were engaging in sharp practices like lying on the amount of fuel imported, and so on. They were also smuggling fuel to other African countries where there was no subsidy, and where fuel cost higher than in Nigeria...to collect higher amounts from subsidy money so that they could balance their books and make a profit. And government was sending bilioons, and running out of money doing so,and despite issuing licences for refineries, the truth is apart from Dangote...who bult his refinery using loans worth billions of dollars, no one wanted to refine fuel iin Nigeria, least of all NNPC.

Buhari came, paid them off, and made NNPC the sole importer, meaning NNPC NOW has had to spend billions of their naira making fuel available at a cheap price. Billions that could have been used to fix refineries really

We have been running subsidy for over 40 years. If we had not run subsidy, and allowed pure market capitalism to run, sure we would have been buying fuuel at sky high prices in the bad oold days, but by now, fuel would have been cheaper.

But the rich love ilicit subsidy money, the polticians love using NNPC as a slush fund, and the poor love cheap fuel prices. Well, interests met.

Eriggs:
just as the criminals and thieves you supported for 16 years fixed the refineries, even when Nigeria was making billions of dollars in revenue. hypocritical supporters of looters. shameless people that supposed to bury their heads in shame, still here wailing about Dangote refinery already. such shameless looters and losers

Case closed.

Thedeadman71:
1. The refinery hasn't come on stream

2.The reason why our old refineries have broken down, and why, apart from Dangote refinery, not much has come in the way of new refineries, is very simple . Oil subsidy

3.Under the subsidy regime, we sold fuel less than its production cost , thus over the years it became unprofitable to produce fuel in Nigeria

4. At the end of the day, we have worn out refineries

5.In 2018, NNPC said fuel would have cost N165 if we were refining in the country. Meanwhile, we were selling it then at N145, and some people wanted to sell it at 87 naira self....

6.Even what Buhari has been doing is raising the price to a level where he can pay subsidy without pains....which is why one should not take the idea that subsidy has gone seriously

7.NNPC has also been spending the money that should have gne on repairing the refnereis on subsidy

8. People like the op prefer subsides because we are poor. Meanwhile subsides, in conjunction with the corruption and mismanagement of the oil sector, as well as the fact that NNPC is owned by government is the reason why we dont have good refinereis.


Let's be realistic. The harsh truth is, unless we run our oil sector as a business, and the truth is, we should have done that since the good old days, we would have been in a better place.

Do you mind the illiterates and the kids that full here.

RuudVanNisteroy:


Goodluck Jonathan had the opportunity to change Nigeria when oil was $100 dollars a barrel. He could have fixed the refineries and built additional ones.

That is why Buhari was voted for in 2015 to bring about change and reduce corruption. Buhari has turned out to be more corrupt than than his predecessor.

They both had opportunity both one had a bigger opportunity than the other.