ebufa:




The natural gas price increment is a miss for Nigeria cos NLNG gas sales are based on long-term contracts ( price is locked) but any surplus may be sold on the 'spot market' sha!

Is it only one party they went into contract with. That's not an excuse

BluntTheApostle:


Which fake information?

The modular refinery is functioning.

Check their website, and confirm.

Why would they lie?

I told you am from Imo state and you are talking about website. Which yeye website?

forget the media propaganda,

Macphenson:



I told you am from Imo state and you are talking about website. Which yeye website?

forget the media propaganda,

I will rather trust the website than a faceless moniker making an unverifiable and unverified claim.

BluntTheApostle:


I will rather trust the website than a faceless moniker making an unverifiable and unverified claim.

LOl, hahahahahha

If that refinery has been working, you would have seen more than enough propaganda on it from the government, especially as Imo is an APC controlled state.

Its simple, sometime last year, a litre of fuel was sold at #350 in Imo state. Even now, some filling stations arre selling #200 per litre.

Where do we start my people, when the price are down they complain now the price is up even more than expectations, they re complaining.

nairaman66:
Good time for Buhari to make his promises come good! Idiat

The increase in oil price will be used by politicians for 2023 campaigns, it is not for debt servicing or infrastructural development

You blamed Jonathan when the price was 100usd now see what is happening

poiZon:

Am not, i stand by my word and don't criticise unjustly like some fools here.

I can't speak against subsidy with one mouth and come in and pay subsidy.

I cant protest against subsidy removal and not protest against it when ur messiah is the one planning it.

I supported subsidy removal back then, the only thing i didnt support was sharing the saved funds amongst governors.

U didn't support it back then, but u support it because buhari said so.

U r hypocrite just like ur messiah.

I have always supported subsidy removal so stop blabbing rubbish. Also learn to comment without insult lest I report u. Good luck

Christistruth00:



Is Russia still delivering its long term Contracts now ?

Traders are going to hedge

I think not but if they are capable of supplying but the end user refuses to lift, then Russia can sue now abi? force majeure everywhere even Germany is searching for Natural gas from any source as they are refusing Russian contracts.......I do not know much spare capacity NLNG has but its management knows her onions...arguably the best-run company in Nigeria!

blackpanda:


I have always supported subsidy removal so stop blabbing rubbish. Also learn to comment without insult lest I report u. Good luck

Calling u hypocrite is insult?

Tell me something...

Frigga13:


All those Tinubu economic team yapping nonsense since 2015 on how Pdp met oil at 100+ and Apc bla’s..
They’ve all gone Hiding.. Oil is 100+ presently.. meanwhile Buhari is still borrowing.. to pay subsidy.

Apc is scam .. very mighty scam..
they don’t even want Nigerians to be informed on this.

See major looting in government.. very corrupt party.

don't mind them mad people from daura republic of bubu they think economics is in the books, but naija weather has been disgracing their masters since 7yrs and is about to give them superslam

How does Nigeria lose?

Don’t we have oil to sell ?

netmillionaires:
I wrote something about this here yesterday in response to a guy who prayed that the war should linger so that Nigeria can earn more from increasing crude price. I will see if I can copy and repost here.

MODIFIED

It seems you are new to the Nigerian economy. Let me explain to you why Nigeria will remain stagnant whether the price of oil rises or falls.


Let's just say that the international crude price increases by 30x to $2100 per barrel, it would seem so easy to assume that Nigeria will earn so much money from oil and would automatically turn to Dubai overnight...


Unfortunately, Nigeria is so bleeped that we export crude oil and then import its by-products. The not so secret reality is that the country will become very rich from selling crude while its citizens become extremely poor from buying petrol at an exorbitant price and it crippling effect on the economy. The government will then have to cushion the effect by subsidising fuel and the effect is that the country would remain poor.

To break down what will happen - NNPC would import petrol at the same international price say #4,890 (#163 x 30) while petrol marketers would buy it from NNPC and sell to the consumers at #5000 per litre. This is a very sad reality... Inflation.


A trip of #200 will then jump to #4,000 - #6,000, a plastic of garri that cost #1,000 will become #24,000. - #30,000. And you and I know that our useless people in government will only double minimum wage by increasing it to #60,000 (Sorry! The stupid government is still debating on how to pay #30,000).

On the other hand, a falling price of petrol would translate to reduce revenue accruing to the government. A crude price of say $10 per barrel would mean that the nigerian government's earning from crude oil will reduce drastically and the country will be too poor to run itself but the citizens are expected to get petrol at a cheap price and this should normally translate to cheaper cost of things in the market as marketers will be able to buy and sell petrol very cheap. In Nigeria, whether they will sell it cheap is another thing to ponder on as this hasn't been the case during previous crude price fall.

The nigerian government that we have come to know will prefer to generate more money by refusing to reduce the price of petrol and also cover up the deficit by taxing the people.

Whichever way it goes. The living standard of average nigerians will not improve.

Honest question- is it impossible for Nigeria to have its own refinery? If only just one. If only one is functional?

In all these debate no one is addressing this obvious solution.

ebufa:



I think not but if they are capable of supplying but the end user refuses to lift, then Russia can sue now abi? force majeure everywhere even Germany is searching for Natural gas from any source as they are refusing Russian contracts.......I do not know much spare capacity NLNG has but its management knows her onions...arguably the best-run company in Nigeria!

The key Word is Force Majeure

The Future Contracts cannot be enforced because of the Russian invasion of Ukraine

God has Divinely made sure Nigeria truly hit the international bigtime Jackpot this time

Natural Gas will be bigger Goldmine for Nigeria than Crude Oil

Yes Nigeria Can meet European Demand

The European Finance Ministers must be busy treating Sai Baba like the goose that will lay Golden eggs




God loves and blessed Nigeria so much
and Nigeria doesn't even deserve it

Let them lose more...as if I have gained anything been a Nigerian..
Nonsense

Perfectbeing:
The government should explain exactly how high oil prices mean higher subsidy? What excatly makes the subsidy shoot up when oil price increases? Is it that the cost of drilling the crude oil rises? or the cost of refining the oil rises? or even the cost of transporting the crude oil rises? We demand an explanation!

My thoughts exactly... scammers

christistruth01:



The key Word is Force Majeure

The Future Contracts cannot be enforced because of the Russian invasion of Ukraine

God has Divinely made sure Nigeria truly hit the international bigtime Jackpot this time

Natural Gas will be bigger Goldmine for Nigeria than Crude Oil

Yes Nigeria Can meet European Demand

The European Finance Ministers must be busy treating Sai Baba like the goose that will lay Golden eggs




God loves and blessed Nigeria so much
and Nigeria doesn't even deserve it

I pray its used well but history suggests otherwise!

ebufa:





I pray its used well but history suggests otherwise!

Because Nigerians are wiser it will be used well

christistruth01:



Because Nigerians are wiser it will be used well

I admire your optimism o! with the fuel subsidy fiasco am a bit anxious but let us see! peace!