immortalcrown:
Flooding Africa with fuel no be wetin I wan hear.

Na de price I wan hear. Fuel is not scarce. Price is the problem.

Him don already flood Africa with Cement but how many fit buy am? So, flooding Africa with fuel no be news.

you are not happy that dollar will stabilize as we won't have import the fuel with dollars again?

The question is, will the operation of Dangote refinery crash the price of petrol locally? If not, what's the benefit of Dangotes refinery to Nigerians?

Given the antecedents of Aliko Dangote, I'm not hyped until i see the impact of local refining on petrol price.

JASONjnr:
This used to be a relieving kinda news until Ajuri told us that it wouldn't stop Dangote from selling petrol at expensive prices.


What's the need for having a refinery if it's refined goods will be more expensive than imported refined goods?

Why are we pumping billions to repair failed refineries when it's selling price wouldn't be any different from imported goods?

dollar is becoming more scarce than ever before

tollyboy5:

I'm finding it difficult to get you. Because every business man who opens a factory will want to sell at an international standard. So exporting will eventually save us more forex that will be pumped into the economy.
Reduction in purchasing power of petrol will not affect much within Nigeria because it ought to be for a limited time till naira gain strength against the dollar, beside the recent improvement in the power sector has greatly reduce the much dependence on generator and I'm sure further improvement will come once the exchange rate goes back to normal and subsidy on power sector is removed.
Those that might be affected mostly are those in the transport business.
But think of it, if your salary of 40k could purchase goods of 40$ and later on due to less scarcity of dollar in the Nigeria economy your 40k could purchase 80$ worth goods then the effect of paying more for transportation would be equally balanced.

What i don't get from your analysis is how our export wont stabilize our foreign exchange.

Simply put, what drives every economy is the comparative advantage it has over others. Ours are crude oil and agriculture, right ? There would be more petrol but a few buyers if availability is the aim. That's the oil glut I mentioned in my previous post. Naira won't regain strength in this way, which also boils down to the purchasing power that you talked about.

Secondly, the strength of the naira is dependent on the GDP. If petrol is affordable when made available, naira gains value and less dollars go out to purchase petrol.

Your very first point placed availability over affordability, which I faulted. If someone is buying a bag of rice at 20k, would you go for same quality of rice at 30k elsewhere? The one selling at 20k will gain more and employ more hands for expansion cos business will grow. Same applies to every economy. Energy is a live wire of every economy. Whatever happens to pump price will affect every sector, either positively or negatively. That's my argument...affordability and availability, not just availability.

tollyboy5:

You need to learn basic economics

Olodo,

Point just thing that I posted up there that violets the principles of economics or isnt showing basic economics principles?


You will just quote to talk trash ...... But you have absolutely nothing in your brain.

If it's properly checked, you studied education.

IT'S NOW THAT WE WILL KNOW THE REAL COST OF IMPORTING FUEL.
IF THE MARGIN ISN'T WIDE ,THEN NIGERIA IS A HUGE LIE .

This project has the single propensity to bring Nigeria to the league of Qatar, Kuwait and Saudi Arabia whilst positioning Nigeria as a major net exporter of derivatives, fuel and petrochemical products.

I advise all the currency speculators to hedge their dollars back to Naira as the export earnings and refinery capacity for Nigeria will exponentially improve for both the Arab league and Sub-sahara Africa to earn huge Forex supply from the sale of refined products.

With this project alone, if well articulated on the currency of exchange, FX position will make a significant appreciation when full production commences.

Congratulations to Dangote & Nigeria.

erico2k2:

why?

It will seriously reduce the amount of dollars Nigeria need and spend on importations, this will strengthen the Naira

immortalcrown:
Flooding Africa with fuel no be wetin I wan hear.

Na de price I wan hear. Fuel is not scarce. Price is the problem.

Him don already flood Africa with Cement but how many fit buy am? So, flooding Africa with fuel no be news.

Cement prices are coming down. Why? Because it's a private market. BUA and others are now seriously undermining prices in the cement market.

When telecoms started it was the same. At the start MTN was charging ₦50,000 per line or simcard. Today it's cheap due to competitors like Glo and Airtel or whoever.

Petrol is an international commodity. There's no miracle. The price is the price.

The only problem is that the Federal Government is LIKELY to ban all fuel imports once Dangote gets going. That's the REAL reason cement is expensive and also many other Nigerian goods. Government RESTRICTS supply with import bans.

Good Luck to Nigerians

immortalcrown:
Flooding Africa with fuel no be wetin I wan hear.

Na de price I wan hear. Fuel is not scarce. Price is the problem.

Him don already flood Africa with Cement but how many fit buy am? So, flooding Africa with fuel no be news.

E b like say na only u dey think well. U see Dangote refinery no come to make fuel cheap. Na the same subsidy scam arrangement just dey watch how dem go take hoodwink Nigerians again and again.

I say -
Congratulations again,Alh.Dangote,for your successful test run,in Production of PMS, Diesel,Kerosine, AGO, Fertilizers,etc and
-For the Provision of thousands of Jobs to Nigerians, afterall,not all Nigerians will JAPA to other Countries,no matter how sweet the other side looks!
- For your bravery, determination and perseverance,
-as an Entrepreneur with Candour,where a whole Nation- Nigeria failed in Maintenance Culture!
-Please,get Security 24/7 for your Investments,
- and Ensures Constant Maintenance Culture,as you begin to Produce for local and export.
I wish you More Success ahead!
I say BRAVO.

Prices must drop. A lot of gains are expected when this refinery comes on board. The landing cost of fuel would be reduced. The fuel won't cross the sea and back. When diesel becomes available cost of moving fuel around the country would drop hence fuel prices would drop. We would save forex used from importing fuel thereby increasing our naira strength. More industrialisation. The gains are enormous. It's not about crashing the fuel prices alone. Are you aware that the diesel has more impact of the masses than fuel. Food prices are high because manufacturers use diesel for production, transportation. Even petrol tankers use diesel.

FutureFocus:


It will seriously reduce the amount of dollars Nigeria need and spend on importations, this will strengthen the Naira

how does this reduce the amount of dollars you need to pay for your child school fees abroad?

justmi1:
Prices must drop. A lot of gains are expected when this refinery comes on board. The landing cost of fuel would be reduced. The fuel won't cross the sea and back. When diesel becomes available cost of moving fuel around the country would drop hence fuel prices would drop. We would save forex used from importing fuel thereby increasing our naira strength. More industrialisation. The gains are enormous. It's not about crashing the fuel prices alone. Are you aware that the diesel has more impact of the masses than fuel. Food prices are high because manufacturers use diesel for production, transportation. Even petrol tankers use diesel.

Why did cement not drop?
Diesel is Euro 5 Old grade, any diesel truck or car from 2014 will struggle, my car is a 2013 and its struggling with Euro 5 Diesel already

IbeOkehie:


Cement prices are coming down. Why? Because it's a private market. BUA and others are now seriously undermining prices in the cement market.

When telecoms started it was the same. At the start MTN was charging ₦50,000 per line or simcard. Today it's cheap due to competitors like Glo and Airtel or whoever.

Petrol is an international commodity. There's no miracle. The price is the price.

The only problem is that the Federal Government is LIKELY to ban all fuel imports once Dangote gets going. That's the REAL reason cement is expensive and also many other Nigerian goods. Government RESTRICTS supply with import bans.

Good Luck to Nigerians

exactly, teh Dangote will be the sole provider of petrol and NIgerians are once again stuck like in the cement saga

immortalcrown:
Flooding Africa with fuel no be wetin I wan hear.

Na de price I wan hear. Fuel is not scarce. Price is the problem.

Him don already flood Africa with Cement but how many fit buy am? So, flooding Africa with fuel no be news.

See how the game will play out. They raised fuel price from ₦200 to over ₦600 now. By the time Dangote starts selling, the price will be between ₦400 and ₦500 for the first few months. During that period, sycophants will say he has reduced fuel price.

Each time they come up with the deceit, sycophants accept it.

That's how they believed that the sale of NEPA will improve power supply. What has been happening since after the sale of NEPA? Artificial scarcity of prepared metres, outrageous bills for those billed with estimation, no rapid response for areas where estimation billing is dominant, physical abuse of Nigerians by the staff members of the electricity distribution companies, houses connected to electric polea are billed every month even if those houses experience blackout for a year.

This is also how it is claimed that Dangote Refinery will make fuel affordable for Nigeria. How cheap are cement, salt, sugar and flour for Nigerians? This is how they claimed that border closure would improve agriculture and locally-made goods. What later came out of it? Notherners got a monopoly to use motorcycles to smuggle rice into the country. And rice keeps getting more expensive. That's how they applauded subsidy removal and claim to have been saving trillions of Naira since then but no improvement in the economy.

meanwhile the whole country was cajoled by the lutjes of Tinubu, Buhari, wole Soyinka, Tunde Bakare, sheikh Gumi etc. to protest against GEJ when he wanted to remove subsidy in order for fuel to be sold at around 200/litre.

immortalcrown:
Flooding Africa with fuel no be wetin I wan hear.

Na de price I wan hear. Fuel is not scarce. Price is the problem.

Him don already flood Africa with Cement but how many fit buy am? So, flooding Africa with fuel no be news.

See how the game will play out. They raised fuel price from ₦200 to over ₦600 now. By the time Dangote starts selling, the price will be between ₦400 and ₦500 for the first few months. During that period, sycophants will say he has reduced fuel price.

Each time they come up with the deceit, sycophants accept it.

That's how they believed that the sale of NEPA will improve power supply. What has been happening since after the sale of NEPA? Artificial scarcity of prepared metres, outrageous bills for those billed with estimation, no rapid response for areas where estimation billing is dominant, physical abuse of Nigerians by the staff members of the electricity distribution companies, houses connected to electric polea are billed every month even if those houses experience blackout for a year.

This is also how it is claimed that Dangote Refinery will make fuel affordable for Nigeria. How cheap are cement, salt, sugar and flour for Nigerians? This is how they claimed that border closure would improve agriculture and locally-made goods. What later came out of it? Notherners got a monopoly to use motorcycles to smuggle rice into the country. And rice keeps getting more expensive. That's how they applauded subsidy removal and claim to have been saving trillions of Naira since then but no improvement in the economy.

meanwhile the whole country was cajoled by the likes of Tinubu, Buhari, wole Soyinka, Tunde Bakare, sheikh Gumi etc. to protest against GEJ when he wanted to remove subsidy in order for fuel to be sold at around 200/litre.

erico2k2:

how does this reduce the amount of dollars you need to pay for your child school fees abroad?

The economist will explain to you, the Naira is in mess because of the huge amount we spent on importation and refined petroleum products is one of the major ,remove that and have less demand for dollars for import in Nigeria

immortalcrown:
Flooding Africa with fuel no be wetin I wan hear.

Na de price I wan hear. Fuel is not scarce. Price is the problem.

Him don already flood Africa with Cement but how many fit buy am? So, flooding Africa with fuel no be news.

See how the game will play out. They raised fuel price from ₦200 to over ₦600 now. By the time Dangote starts selling, the price will be between ₦400 and ₦500 for the first few months. During that period, sycophants will say he has reduced fuel price.

Each time they come up with the deceit, sycophants accept it.

That's how they believed that the sale of NEPA will improve power supply. What has been happening since after the sale of NEPA? Artificial scarcity of prepared metres, outrageous bills for those billed with estimation, no rapid response for areas where estimation billing is dominant, physical abuse of Nigerians by the staff members of the electricity distribution companies, houses connected to electric polea are billed every month even if those houses experience blackout for a year.

This is also how it is claimed that Dangote Refinery will make fuel affordable for Nigeria. How cheap are cement, salt, sugar and flour for Nigerians? This is how they claimed that border closure would improve agriculture and locally-made goods. What later came out of it? Notherners got a monopoly to use motorcycles to smuggle rice into the country. And rice keeps getting more expensive. That's how they applauded subsidy removal and claim to have been saving trillions of Naira since then but no improvement in the economy.

Tank u.that flooding africa wit fuel really annoy me.

Nigeria road user should be careful of Dangote tanker carrying fuel, Dangote truck with cement killed many, I wonder wetin Dangote tanker on Nigeria road will look like? Drivers shine your Eyes!!!!!

FutureFocus:


The economist will explain to you, the Naira is in mess because of the huge amount we spent on importation and refine petroleum products is one of the major ,remove that and have less demand for dollars in Nigeria

Nah thats not why the Economy is a mess, its in a mess cos of mismanagement on the part of govt officials. Explain to me how can a country of 260million plus use less than 30mw of power?. The 1st thing govt should ban should be Power generator. Then build more power station and sells its shares.

LeonSaab:
we make it here....local consumption will come before export....and since the government owns 20% he dares not produce and prioritize export over local consumption

Who is the Government?

Charity begins at home. U never flood Nigerian market,na African market u go flood.
Too many promises non fulfilled.

immortalcrown:
Flooding Africa with fuel no be wetin I wan hear.

Na de price I wan hear. Fuel is not scarce. Price is the problem.

Him don already flood Africa with Cement but how many fit buy am? So, flooding Africa with fuel no be news.

See how the game will play out. They raised fuel price from ₦200 to over ₦600 now. By the time Dangote starts selling, the price will be between ₦400 and ₦500 for the first few months. During that period, sycophants will say he has reduced fuel price.

Each time they come up with the deceit, sycophants accept it.

That's how they believed that the sale of NEPA will improve power supply. What has been happening since after the sale of NEPA? Artificial scarcity of prepared metres, outrageous bills for those billed with estimation, no rapid response for areas where estimation billing is dominant, physical abuse of Nigerians by the staff members of the electricity distribution companies, houses connected to electric polea are billed every month even if those houses experience blackout for a year.

This is also how it is claimed that Dangote Refinery will make fuel affordable for Nigeria. How cheap are cement, salt, sugar and flour for Nigerians? This is how they claimed that border closure would improve agriculture and locally-made goods. What later came out of it? Notherners got a monopoly to use motorcycles to smuggle rice into the country. And rice keeps getting more expensive. That's how they applauded subsidy removal and claim to have been saving trillions of Naira since then but no improvement in the economy.

Refining our crude locally will drive down cost as it will eliminate import costs. My only problem is the local monopoly Dangote gets. I pray other refineries come online soon. That said, kudos to Dangote.

ocelot2006:
Refining our crude locally will drive down cost as it will eliminate import costs. My only problem is the local monopoly Dangote gets. I pray other refineries come online soon. That said, kudos to Dangote.

We have cement locally-made by not only Dangote.

Well, let's hope for a positive suprise this time.

immortalcrown:
Flooding Africa with fuel no be wetin I wan hear.

Na de price I wan hear. Fuel is not scarce. Price is the problem.

Him don already flood Africa with Cement but how many fit buy am? So, flooding Africa with fuel no be news.

See how the game will play out. They raised fuel price from ₦200 to over ₦600 now. By the time Dangote starts selling, the price will be between ₦400 and ₦500 for the first few months. During that period, sycophants will say he has reduced fuel price.

Each time they come up with the deceit, sycophants accept it.

That's how they believed that the sale of NEPA will improve power supply. What has been happening since after the sale of NEPA? Artificial scarcity of prepared metres, outrageous bills for those billed with estimation, no rapid response for areas where estimation billing is dominant, physical abuse of Nigerians by the staff members of the electricity distribution companies, houses connected to electric polea are billed every month even if those houses experience blackout for a year.

This is also how it is claimed that Dangote Refinery will make fuel affordable for Nigeria. How cheap are cement, salt, sugar and flour for Nigerians? This is how they claimed that border closure would improve agriculture and locally-made goods. What later came out of it? Notherners got a monopoly to use motorcycles to smuggle rice into the country. And rice keeps getting more expensive. That's how they applauded subsidy removal and claim to have been saving trillions of Naira since then but no improvement in the economy.

You've said it all brotherly

I no read am but I see say they avoided price. Dem no talk anything about price @least give people an idea of what the price will look like I no read am but I see say they avoided price. Dem no talk anything about price @least give people an idea of what the price will look like ...

Big lie from OP

aishah32g:
I no read am but I see say they avoided price. Dem no talk anything about price @least give people an idea of what the price will look like I no read am but I see say they avoided price. Dem no talk anything about price @least give people an idea of what the price will look like ...

Nobody can predict price. As long as the government isn't REGULATING prices, NOBODY can make any prediction. For example, if for some reason Saudi Arabia has a serious political crisis and violence, the price of petrol could EASILY reach ₦1500 per liter. It's the same for other unsubsidized free market goods like garri, shoes, pencils or plastic buckets.

Good Luck to Nigeria

Ok o. Thumbs up to him.

Ozommadu:
Portharcourt refinery nko??


Abi una wan divert our attention away from tinubu's lies and deceit

Tinunbu take that lies resemble you forefathers mumu