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NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale - Politics (2) - Nairaland

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Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by jamesversion: 11:31am On Feb 29
FreeStuffsNG, you were hyping one local gas plant in Lagos some days ago.

You claimed Ardova 24,000MT is the largest Gas plant in West Africa.

Even if you're paid to lie, lie reasonably.

https://www.nairaland.com/8008344/ardova-completes-24000-metric-tonnes
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by themanderon: 11:31am On Feb 29
kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?

In fact this is one of the reasons the naira is trash today. In some countries of the world you dare not spend what is not their legal tender but here anything goes. Was it not politicians that were busy sharing dollars last year during their conventions?
If they want the naira to grow ban the use of dollars in Nigeria and sell your crude in naira to your international customers. If they want your oil and gas let them convert their dollars to naira. Do this and watch the naira appreciate in months as this is the reason the Russians were able to survive Western sanctions till date. They made the Europeans buy their oil in roubles and it's value rose exponentially.
I know the government will not do these things because of vested interests.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by JuanDeDios: 11:32am On Feb 29
jmoore:
Paying the naira equivalent of dollars is the same thing.



Are they selling at a lesser price should be the point.
Not the same thing. Dealers shouldn't have to source dollars to purchase LPG they're going to sell in Nigeria and the price shouldn't change daily with the fluctuating dollar rate.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Tradepunter2: 11:36am On Feb 29
1bunne4lif:
so why wasn't it implement before now since it's what will make Naira relevant.

This is where you should reflect on who really loves this country..... To me buhari and lots of northern cabals preferred dealing in dollars.... The trade in dollars exacerbated during his tenure.... Off course everyone gained including tinibu..... But the fact is when leadership isn't leading by example don't expect others to follow.... I hope these moves are the right ones in the right direction....

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Magnumproperty: 11:39am On Feb 29
Asiwaju is truly the man for the job!
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Tareq1105: 11:39am On Feb 29
Paraman:


https://punchng.com/nlng-grows-lpg-production-to-1-5million-tonnes-begins-naira-sale/?amp

Tinubu is really pressing their necks, putting them under pressure to shore up their production thereby generating more revenue.

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by just2endowed: 11:43am On Feb 29
It also announced that the whole 1.5million tonnes production was being sold in Nigeria, adding that the company had started supplying LPG in naira, as against the usual sale of gas in the United States dollars.

kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?

Its Nigeria Govt thats killing Nigeria.

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Funkyswagzz(m): 11:44am On Feb 29
IgbosCriminals:
Omo,

This is commendable!!

Everything about Nigeria is dollars.

What has happened to our naira and kobo?

Some enemies of our dear nation (or should we call them emergency lovers of the zoo) keep giving us update on the exchange rate of dollar to naira as if dollar is our currency but as naira come dey appreciate now e come dey pain them again

Bro it's definitely not good the naira is increasing it has done alot of damage to business. Obviously I want it to go down so that people can patronise my business as usual. Everybody is happy it's going down stop that negative thoughts
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by kokoA(m): 11:47am On Feb 29
airsaylongcome:


None. They just convert the USD price to local currency at the prevailing rate on the day
So we are just being wicked to ourselves. The dollar is already hot cake for importers who need it to import other goods, why would any company who stands to loose nothing prefer to sell to our domestic market in dollars?

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Tareq1105: 11:52am On Feb 29
Savedday2:
They are selling in Naira, but why is the price of cooking gas increasing?

Pls, anybody with reasonable explanation should help.

Bcoz we require 5m MT per year while we produce 1.5m MT. The shortfall is imported for us to have it all year round.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by integrity16(m): 11:53am On Feb 29
Savedday2:
They are selling in Naira, but why is the price of cooking gas increasing?

Pls, anybody with reasonable explanation should help.

The explanation is there in the article, take your time to read it.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by jamafa: 11:58am On Feb 29
LandMann:
You're selling crude oil and gas in dollars on one hand in a country where Naira is the official currency then blaming Binance for your woes on the other hand. Where do you expect domestic producers to get dollars from? Why did you create a market for dollars in your economy by charging for goods and services in dollars? Lets not forget that customs was also charging Nigerians in dollars o.

Dollars! In a country where naira is the official currency! This is why you see the huge volume of trade in USDT vs the naira. Companies set up accounts to buy USDT which dey later sell for USD to facilitate their business transactions in Nigeria since they were being charged in dollars through various government agencies (customs), companies (those selling crude oil to domestic modular refineries and those selling LPG to Nigerian buyers for use in Nigeria).

But the government through Cardoso the unqualified CBN governor favoured because of his tribe is dishing out propaganda that Binance is to blame.




Na God go punish Tinubu, Cardoso and all of the people advising the government to promulgate policies to frustrate Nigerians

As e dey pain them, e dey sweet us.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by freemi(m): 12:03pm On Feb 29
kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?
it's just unbelievable. This country nawa

2 Likes

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by olax02(m): 12:14pm On Feb 29
Paraman:
A very good move by the tinubu administration. The next is for Nigerians to be able to buy crude within Nigeria in naira.
Kudos,.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by stormborn28(m): 12:18pm On Feb 29
kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?

It is a crime perpetrated by the political class... Na now you know say our politicians no get sense
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by stasius: 12:20pm On Feb 29
I love this!

Dollar is not our currency!
Naira is our currency!
As long as you are in Nigeria transactions must be in Naira! Simple.
And anywhere people are seen displaying or transacting with dollar as against Naira, they should be arrested.

Let it be enforced!

3 Likes

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Konquest: 12:27pm On Feb 29
Paraman:


https://punchng.com/nlng-grows-lpg-production-to-1-5million-tonnes-begins-naira-sale/?amp
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by AyeMoJuba: 12:32pm On Feb 29
kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?

That's one of the anomalies all these policies are directed to correct but because we are feeling the impact, we erroneously believe the current administration policies are anti-people
all we need is patience, then we'd thank God Tinubu won that election.

It's little by little

2 Likes

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by fortune1968: 12:33pm On Feb 29
kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?
I just don't understand too . It is criminal in nature .How could this had happened v?

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by GoodSpirit: 12:41pm On Feb 29
jamesversion:
Sometimes I wonder what those of us living in Port Harcourt gain from this city. NLNG and Port Harcourt refinery is in PH, yet the prices of petrol and gas is even higher than some states in Nigeria.


I tire, we don't have any benefits. They are using us to subsidize others.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by GoodSpirit: 12:43pm On Feb 29
jamesversion:
Sometimes I wonder what those of us living in Port Harcourt gain from this city. NLNG and Port Harcourt refinery is in PH, yet the prices of petrol and gas is even higher than some states in Nigeria.

Gas is cheaper in Texas than other states in the US but Nigerian case is different.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Mccullum: 12:50pm On Feb 29
Nice one, let it be implemented with sincerity of making it affordable for Nigeria populace.
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by airsaylongcome: 12:53pm On Feb 29
kokoA:
So we are just being wicked to ourselves. The dollar is already hot cake for importers who need it to import other goods, why would any company who stands to loose nothing prefer to sell to our domestic market in dollars?

Lol! Is it wicked when a lion eats a goat? Or when a man eats a chicken? It's the "nature" of that market. Everyone prices in dollars for uniformity. It's an internationally traded commodity with investments in dollars and sales of products in dollars. You think Ghana or Cameroon sell their Crude to themselves in Cedis or CFA?
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Bluntemperor: 1:01pm On Feb 29
kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?

That is the beginning of the Fraud and Corruption in the Gas and Oil industry!
Forget about all those trash the panels members are dishing out there!
Questions:
- When precisely did you stated the 70Mill , because you did not put date?
- What was the Price you started with for 12.5 kg gas last year 2023, was 7K,so now in 2024 is selling 16K and above depending on the Region or Area, and here you are celebrating?
-How many average Nigeria can afford that?
The truth is that- there is so much Corruption in Gas and Oil Industry and Nigerians are waiting for the changes from Top to Bottom of most of these institutions!
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by IbeOkehie: 1:02pm On Feb 29
Those asking why NLNG sells in dollars...it's a matter of law and regulation. I'm not sure of all the particulars, but generally there are two legal kinds of gas in Nigeria -

1) Domestic or domgas

2) World gas

NLNG was formed to service the world market and as such legally structured or positioned to deal in dollars. NLNG is controlled by PRIVATE investors AND the world market price of natural gas is NOT REGULATED, so the company has been a great success. NLNG has been the most profitable company in Nigeria for decades and has paid the highest taxes to the Nigerian government ever, no company at any time has paid more taxes to the FGN, not even NNPC, Shell or anyone else. None.

Side note - it was President Babangida that put the reforms in place to make NLNG possible. It was supposed to be a fully owned Nigerian government company but IBB chose PRIVATE led investment structure as under SAP policy.

There's a 100% Government owned company called Nigeria Gas Company that handles the DOMESTIC GAS market, which is is PRICE REGULATED and subsidized. They're the ones who are supposed to supply cooking gas at a subsidized and affordable price. 🙄

Do I need to say any more? Nigeria Gas Company is an inefficient, corrupt and moribund entity just like every other thing owned by government.....Ajaokuta Steel, Federal Universities, NIPOST, NNPC , Federal Mortgage Bank, TCN that suppresses electricity supply...and on and on. Just go to the NGC website and compare to NLNG. These are companies selling the same commodity.

It appears that NNLG is taking over the functions that NGC has failed to perform. Socialism, price regulation, subsidies and government ownership is KILLING NIGERIA, it's depriving Nigerians of access to the essentials of modern life, it's suppressing living standards, it's creating difficulties where non should exist.

The ONLY solution to the Nigeria Crisis is FREEDOM...free markets, socio- economic and political freedom. That's all. Do it or Nigeria will die, nobody is begging you.

Good Luck to Nigeria.

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by commoditiesnig: 1:11pm On Feb 29
Good move
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by sulaak(m): 1:18pm On Feb 29
jmoore:
Paying the naira equivalent of dollars is the same thing.



Are they selling at a lesser price should be the point.
It is not the same thing;

if the product is made in Nigeria and marketed in Naira, then the buyer only needs to earn Naira to buy the product, which will add value to the Naira. As there will be a demand for the Naira and less demand for the dollar.

Nigeria government have dollarize the economy
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by Chinedumejoooo: 1:20pm On Feb 29
This country is it extension of US,if I may asked.
Why using dollar in a country that is also using naira as their legal tender.

The most importantly is to effect in price of cooking gas
Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by sulaak(m): 1:23pm On Feb 29
IbeOkehie:
Those asking why NLNG sells in dollars...it's a matter of law and regulation. I'm not sure of all the particulars, but generally there are two legal kinds of gas in Nigeria -

1) Domestic or domgas

2) World gas

NLNG was formed to service the world market Because NLNG is controlled by PRIVATE investors AND the world market price of natural gas is UNREGULATED, the company has been a great success. NLNG has been the most profitable company on Nigeria for decades.

Side note - it was President Babangida that put the reforms in place to make NLNG possible. It was supposed to be a fully owned Nigerian government company but IBB chose PRIVATE led investment structure as under SAP policy.

There's a 100% Government owned company called Nigeria Gas Company that handles the DOMESTIC GAS market, which is is PRICE REGULATED and subsidized. They're the ones who are supposed to supply cooking gas at a subsidized and affordable price. 🙄

Do I need to say any more? Nigeria Gas Company is an inefficient, corrupt and moribund entity just like every other thing owned by government.....Ajaokuta Steel, Federal Universities, NIPOST, NNPC , Federal Mortgage Bank, TCN that suppresses electricity supply...and on and on.

It appears that NNLG is taking over the functions of NGC. Socialism, price regulation, subsidies and government ownership is KILLING NIGERIA.

The ONLY solution to the Nigeria Crisis is FREEDOM...frre markets, socio- economic and political freedom. That's all. Do it or die, nobody is begging you.

Good Luck to Nigeria.

That explains it. Thanks

However, Ajaokuta and Alscon were privatised by the OBJ government and failed to the point that the government had to pay the Indians $ 500 million (shared with Malami) to release the steel plant. Privatisation cannot work if the country doesn't have effective civil services.

Nigeria Gas Company is an inefficient, corrupt and moribund entity, just like every other thing owned by the government.....Ajaokuta Steel, Federal Universities, NIPOST, NNPC , Federal Mortgage Bank, TCN that suppresses electricity supply...and on and on.

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by emekaRaj(m): 1:30pm On Feb 29
kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?

A very big crime, we are our own problem

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by santaclaws: 1:38pm On Feb 29
kokoA:
I don't understand why Nigerians require dollars to buy something in Nigeria in the first place. Isn't this a crime?

Imagine! Very silly idea, honestly. If they've been selling gas to Nigerians in USD then they've also been responsible for the surge in dollar prices over the years.

1 Like

Re: NLNG Grows LPG Production To 1.5 Million Tonnes, Begins Naira Sale by NinjaMetahuman: 1:41pm On Feb 29
airsaylongcome:


It isn't. It's how the petroleum industry works. It's products are priced in USD worldwide
that's crude oil, not gas.

Gas is domestic.

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