Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso - Politics (4)

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Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso - Politics (4) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso (32865 Views)

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Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Chivik93(m): 7:08pm On Jan 24

happney65:
Like Dangote cement is the cheapest right?

Stop playing!

leave them, make them dey play, one thing about Nigerians, we have very short memory, we always like to trend with the current news, we dont ask questions, it as if these evil politicians are with our remote, what is the PRICE of cement, that need no dollar for production almost every material and transportation is here, these guys are business men that have our evil politicians as shareholders, I bet you this news has little to do about the messes but alot about the political cartels,

1 Like

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by nedekid: 7:43pm On Jan 24

DenreleDave:

I love the way you criticized erring govt officials.

All in all, you want a better future for your country..

God bless you. Boss Nedekid

1love bro..

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by EconomistXplain: 7:47pm On Jan 24

matify83:
Hmmm!

The over reliance on the Dangote refinery as a panacea to solving all our economic woes is pedestrian.

For one Dangote who is buying crude at international dollar denominated price is going to be selling refined products at cost reflective rate which may end up being at par with what obtains currently.
We are more guaranteed of products availability than lower prices when the product hit the market.

it cant be same thing...by producing, we eliminate cost of shipment , cost of insurance for goods, import duty cost etc...this will certainly be a big relieve

1 Like 1 Share

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Saintinoo(m): 7:54pm On Jan 24

Richtaiwo:
Another opportunity for cursed savages to start crying.

Sometimes I doubt if you guys actually went to school, sorry, I never meant to sound rude. I remember when CBN lifted dollar ban on importation of rice, you guy told us that foreign rice will not be sold at a rate not more than #25000 by December 2023 , now, a bag of local rice is #55,000 not to talk of foreign rice.

Now, you will argue that petrol prices will reduce because of dangote refinery, where is the education you claim to have if you allow these grandpa's constantly deceive you.

2 Likes

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by matify83: 8:06pm On Jan 24

Richtaiwo:

The quote above is the opening paragraph, you can't read it, yet you want to make comment on the topic. If your duty is to be crying on any good news, always read the news first so you don't appear one kind.

Why are you sounding one kind?

Can you decipher anything from the opening statement of Cardoso that you pasted?

I guess you don't know the quantum of promises that Nigerians have heard from governments over the years that didn't come to fruition .

Maybe you weren't born when they promised us that we are the leaders of tomorrow or when they promised us uninterrupted power supply by the year 2000. Housing for all by the year 2000 was almost a national anthem that also did not see the light of the day.

Except for a very naive Nigerian, who rejoices at government statements these days without juxtaposing it with realities on the ground.

For the avoidance of doubt, the government refinery that is giving you orgasms has not even been completed and Dangote refinery is yet to go live on premium motor spirit (petrol). So where is the assumed price moderation in PMS coming from?

Don't be like a child promised sweet upon the mothers return from the market which was not fulfilled but again promised the same sweet on the next market day and he goes around jerring to his friends how his mother is going to bring him sweet.

I would be the most joyous if PMS price would come down as I spend an average of 20k per week fueling my car for work commuting and sundry activities but my expectations must be balanced against the fluctuating and volatile nature of the commodity vis a vis international politic and happenings.
Any supply chain disruption in the Red Sea can push crude prices to a level that will make nonsense Cardoso's price moderation and you may be the only gullible Nigerian left hanging.

We are watching with cautious optimism.

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by matify83: 8:18pm On Jan 24

EconomistXplain:

it cant be same thing...by producing, we eliminate cost of shipment , cost of insurance for goods, import duty cost etc...this will certainly be a big relieve

I quite agree with you sir.

But listening to industry players lately e.g Bismarck Rewane and Paul Alaje to mention a few, one gets the feeling that those costs were almost negligible and that producing in Nigeria may increase availability but little price differential from current realities.

Also remember that Dangote is sourcing the crude in dollars and at international rates with no concessions from the government.

Another worrisome dimension we are overlooking is that if the price of petroleum products dips significantly, we may go back to contending with our products being stolen across the border once again.

2 Likes

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by AFconsult1(m): 8:23pm On Jan 24

Better

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Asswipemod: 8:27pm On Jan 24

Islie:

https://thenationonlineng.net/just-in-petrol-prices-to-fall-over-refineries-take-off-says-cardoso/

Michael Kadoso has spoken and there is nothing, Mutairu Kadoso aka seunmsg can do about it. 🤪🤪🤪🤪😆😆😆😆

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by coputa(m): 8:32pm On Jan 24

Fuel Subsidy was removed and fuel price jerked up,not because our refineries are not working,

Even if all our refineries are working with dangotes,fuel price will remain the same because the cost of producing a litre of fuel remain the same

There will be available of fuel in the country but pump price of petroleum products will remain the same

The CBN governor is ignorant of how things works

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Agboriotejoye(m): 8:38pm On Jan 24

Richtaiwo:

Economics, I stated it up there, but obviously, you can't read.
Go to the nearest CBN branch, ask them, they will tell you the prevailing average prices of all major commodities in the market, including salt.

Economics is a subject with many topics
Nothing I'll not hear from you. CBN will tell you price of salt grin

Chai

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Agboriotejoye(m): 8:41pm On Jan 24

Faiththatworks:
The long and short of this long story is the government of Asiwaju is banking on Nigeria private and public refineries to start producing their own petroleum products.
I have said it several times,it's clear the NNPCL is using us to play ping pong with the date the Refinery will start working.
That's why Asiwaju has gone all out to make sure The Dangote Refinery must work,Infact it has to work.
The Dangote Refinery is a one size fits all drug that will solve almost 50% of Nigerian's problem and sickness according to the Article.
It will stop the importation of petroleum products,thereby saving foreign exchange which will lead to Nigeria having more Dollars to work with.
According to the Article, inflation will reduce when the Dangote Refinery and the unfinished yaho yahoo Port-harcourt Iron starts working because it's assumed Petroleum products will be cheaper and a bit more affordable for the masses,and the knock on effects will reflect in Our agriculture produce because farmers will be able to transport their farm produce cheaper than what it's presently.
Did I mention there will be more industries that will open up because of the Dangote Refinery,so they have easy access to by-product of the crude as their major raw material.
That's the paragraph about attracting foreign capital.
I can go on and on but I will end here,ask yourself,if the Federal Government of Nigeria can be edging their future plans on this Dangote Refinery,the question should be why will I not follow the money and invest around the Refinery.
There's still time,and now's the best time.
Check my signature for more details.
God bless Nigeria........

So according to you, Tinubu has abandoned thePH refinery that's directly under his supervision and has now gone all out to ensure a private refinery works. Make it make sense

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by coputa(m): 8:43pm On Jan 24

EconomistXplain:

it cant be same thing...by producing, we eliminate cost of shipment , cost of insurance for goods, import duty cost etc...this will certainly be a big relieve

Do you think all these will reflect in the pump price of fuel given the high profit tendencies of independent petroleum marketers

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by jimoholuyemi3(m): 8:54pm On Jan 24

Richtaiwo:

Economics, I stated it up there, but obviously, you can't read.
Go to the nearest CBN branch, ask them, they will tell you the prevailing average prices of all major commodities in the market, including salt.

Please leave that man he knew nothing about what you're saying

1 Like 1 Share

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Richtaiwo: 8:55pm On Jan 24

Agboriotejoye:

Economics is a subject with many topics
Nothing I'll not hear from you. CBN will tell you price of salt Chai

Ignorance is a serious sickness. So you are surprised about CBN displaying price of salt shey. And that sounds very funny to you. You clearly don't have an idea of CBN role in a country. Most likely thinking its role is just about printing currency. This reminds of some crude beings who laughed out their asses when I told them human beings went to the moon.

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by occfx: 8:57pm On Jan 24

Islie:

https://thenationonlineng.net/just-in-petrol-prices-to-fall-over-refineries-take-off-says-cardoso/

For this kwontry? I don't believe it

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by bionixs: 9:15pm On Jan 24

Jflex07:
Nigerians hope this is possible. One issue in Nigeria is that prices of goods and services ,once gone up, barely comes down, even when things are beginning to get better. The average Nigerian is wicked, even with their religiousity.

you are right . Should the price drops , the markers will fraudulently adjust the pump to make sure it doesn't make and difference

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Etinemideri: 9:19pm On Jan 24

Story for the gods.
Nothing is coming down.

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by eepeepook: 9:55pm On Jan 24

Lies!

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by SalamRushdie: 9:56pm On Jan 24

Cardoso seems not to be intelligent

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Exceed15: 9:59pm On Jan 24

Ugen:
Gradually we shall get there as a country. God will help us

Oga vote right

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by IMMUNO1(m): 10:03pm On Jan 24

To make it go up, the president announces a fixed price without speculations, to make the people continue to suffer and smile, a political appointee comes up with future tenses.

1 Like

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by laudate: 10:26pm On Jan 24

Cardoso can lie!! What kind of fall will happen? Will the private refineries not buy crude at international prices? Will the materials and equipment used during the refining process, not be maintained by engineers using foreign parts and materials bought in USD?

The only thing that will be reduced is cost of international freight of crude, if all the crude is sourced locally. And cost of freight is a small percentage of overall cost. Na wa, o.

The loans taken by Dangote in USD to build that refinery have to be repaid now at a higher forex rate!

And yet, Cardoso expects cost of refined petroleum products to come down?

What brand of Sapele water are they offering him in CBN?

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Agboriotejoye(m): 10:31pm On Jan 24

Richtaiwo:

Ignorance is a serious sickness. So you are surprised about CBN displaying price of salt shey. And that sounds very funny to you. You clearly don't have an idea of CBN role in a country. Most likely thinking its role is just about printing currency. This reminds of some crude beings who laughed out their asses when I told them human beings went to the moon.

Oga stop capping nonsense
I guess CBN also display the price of egusi too grin

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Richtaiwo: 10:43pm On Jan 24

Agboriotejoye:

Oga stop capping nonsense
I guess CBN also display the price of egusi too

Go borrow data and open the appropriate column. I don’t have time teaching an illiterate dickhead. cheesy

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.cbn.gov.ng/documents/statbulletin.asp&ved=2ahUKEwjKpMy5_vaDAxXsQEEAHQ63CuQQFnoECB8QAQ&usg=AOvVaw1VRjjvQbhwOhdt2ds52tHf

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Agboriotejoye(m): 10:58pm On Jan 24

Richtaiwo:

Go borrow data and open the appropriate column. I don’t have time teaching an illiterate dickhead.
https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.cbn.gov.ng/documents/statbulletin.asp&ved=2ahUKEwjKpMy5_vaDAxXsQEEAHQ63CuQQFnoECB8QAQ&usg=AOvVaw1VRjjvQbhwOhdt2ds52tHf

So which of the pdfs in your link has the price of garri and egusi

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by PHAYOL81: 11:26pm On Jan 24

Hopefully so

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Konquest: 12:38am On Jan 25

Islie:

https://thenationonlineng.net/just-in-petrol-prices-to-fall-over-refineries-take-off-says-cardoso/

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Alsenora: 2:38am On Jan 25

That's the mindset if pessimists. They will always turn blind eye to facts to suit their narratives.

Richtaiwo:

The quote above is the opening paragraph, you can't read it, yet you want to make comment on the topic. If your duty is to be crying on any good news, always read the news first so you don't appear one kind.

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by ceejay80s(m): 6:24am On Jan 25

Judolisco:
Exactly... Even if na 300 or 400

No it must be 200,
So U think if they reduce it to 400 , transportation will come down?

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by ceejay80s(m): 6:32am On Jan 25

EnterpriseMan:
Nigeria has one problem, once things go up they never come down even if the economy gets better.

Don't mind them, landlords have increased their rents, tell me will they bring it back down when fuel goes back to 200 per litre?
They should have started earlier before all these increase, many of them in government have rented apartments, so they too will enjoy their increase in rent even when fuel price is down

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by Judolisco(m): 7:29am On Jan 25

ceejay80s:

No it must be 200,
So U think if they reduce it to 400 , transportation will come down?

why not everything will definitely come down

Re: Petrol Prices To Fall Over Refineries’ Take Off, Says Cardoso by rex41e(m): 9:51am On Jan 25

Privatisation is the only way to get anything done. The moment NITEL was scuttled and ECONET and MTN were given licenses changed our Telco industry, which is still be best developed industry we have. I mean we already have 5G in some locations and some countries don't. Not to talk of competitive pricing when it comes to Airtime and Data.

America has about 100+ refineries and none of them belong to the government, why can't Nigeria just fully privatise the Oil and Gas sector?

Have private players come in and compete, that will drive innovation and cost reduction. All the Government has to do is regulate and make a profit of taxes.

Imagine the PH refinery, the cost on the government from salaries and wages to operarions. Have someone else deal with that and charge an Oil and Gas production tax or something.

I didn't major in economics, in fact I majored in games design, so I wonder what these people in power who studied these things are even doing.

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