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Nairaland Forum / Nairaland / General / Business / Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) (8215 Views)
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Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Kenochi(m): 7:57pm On Apr 15 |
Manufacturers have lamented the high cost of automotive gas oil (AGO), also known as diesel, which is used in generating power for their operations, noting that product gulps about 80 percent of their profits. https://www.vanguardngr.com/2024/04/diesel-gulps-80-of-manufacturers-profits-man/ 2 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Kenochi(m): 7:58pm On Apr 15 |
In an earlier thread,I stated that Nigeria is the only country in the world that economic activities are run on Diesel Our energy mix is probably the worst in the world,in a country where people are struggling to produce electricity,you now mandate that all electricity produced should be sent to the National Grid, power is produced in Akwaibom and that power is sent to a Central Grid That central grid now sends it to Companies in States who now resell it,this is why we will never progress This Government must decentralize power,let us have Regional Grids for all the regions. Coming back to MAN,I feel for them,I salute their patriotism because it is not easy producing anything in Nigeria I also salute Dangote,I sincerely feel they can still reduce the price of Diesel,even if Government can intervene to ask that the price be reduced to at least 1000 naira,it will greatly reflect on the end users who desperately need respite 52 Likes 5 Shares |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by tollyboy5(m): 8:23pm On Apr 15 |
The manufacturing sector too are not very honest. Since the rise in naira most of the manufacturered product that hardly need foreign raw material still maintained their exorbitant prices. Dangote bought his crude oil from usa when dollar was high. And now the pump price of imported diesel is at ₦1250 base on the exchange rate. You won't expect dangote to loose. Let him sell off what he has now, the more naira gain more strength the lesser the price of diesel because dangote cannot sell above imported market price. Better days ahead. 15 Likes 2 Shares |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by jkpbestseries: 8:34pm On Apr 15 |
You go explain tire 3 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by SoNature(m): 8:45pm On Apr 15 |
Instead of investing in massive power projects, Tinubu is spending trillions of naira constructing a coastal road to connect states that are already linked by roads. E no go ever beta for the person wey swear say this country no fit get leaders wey get sense. 41 Likes 2 Shares |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by coolgb(m): 8:49pm On Apr 15 |
Now that both diesel price and dollar are coming down, we are waiting for your excuse by july 8 Likes 1 Share |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Max24: 9:21pm On Apr 15 |
SoNature:Government investing in power projects is not a smart move. That was the genesis of all the wasted monies by Obasanjo and others. Same happens every time government spends money on refineries in the past. It's better for government to create a conducive environment for private investors and allow them to invest in power projects rather than using government money. An example was the old govt telephone company, NITEL, compared to when private investors like MTN, ECONET,GLO entered the field. That revolutionalized the telecoms sector. Government should do same with power. 28 Likes 7 Shares |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by 4tomandchi: 5:00am On Apr 16 |
That's renewed hope. We are just starting una never see anything. When a house is built on a wrong foundation e no go last. "Subsidy is gone' None of his people have responded to El - Rufai claim that FG now pay more for subsidy North go open una scam for us to see they're everywhere |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Tjra: 5:00am On Apr 16 |
The refinery now supplies the product at a substantially reduced price of N1,200 per litre, representing a 29.4 percent reduction from the previous market price of about N1,700 per litre. Naira has also gone down from 1,900 to 1,200. When will MAN reduce prices of goods? 17 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Uchenaija: 5:01am On Apr 16 |
tollyboy5: Smh. Examples of some these manufacturers include? |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Ejiakusmith(m): 5:02am On Apr 16 |
I also had the Dangote Refinery will be selling fuel ⛽ #500 as it starts working...... Make e do start oooo high cost wan kill person oo 2 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by nairalanda1(m): 5:05am On Apr 16 |
Max24: Doing so means allowing the power companies charge cost reflective tarrifs, which most NIgerians do not want because we are 'poor'. 49 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Difrent: 5:05am On Apr 16 |
Kenochi: Get yourself updated on the electricity laws , it has changed to allow all you posted above 48 Likes 1 Share |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by ohosi4real(m): 5:06am On Apr 16 |
In most schools in the Nigeria, there exam always say 'explain these or that. I believe that is what is affecting our system. Every Nigerian can explain. Explanation is our problem in this country because no one wanted to carry blame. |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by free2ryhme: 5:13am On Apr 16 |
Kenochi: Make una dey always give excuses for una inefficiencies |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Vikalinda(m): 5:17am On Apr 16 |
Power has been one of the major problem of this nation Nigeria, if power issue is solved, price of many commodities will surely come down. 2 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Toosure70: 5:20am On Apr 16 |
Sorry,new tariff will take 100% soon |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by AnyanwuSilas: 5:29am On Apr 16 |
Son |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by ironheart(m): 5:33am On Apr 16 |
Still expensive despite refining it here in Nigeria 1 Like |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Flier: 5:55am On Apr 16 |
SoNature:The available power plants is almost enough for Nigeria we are not really consuming light like that The problem is Gas,they are not buying gas to power the plants 4 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by inoki247: 5:55am On Apr 16 |
This is the real Fuel that needs subsidy.. . You will use Diesel to Produce cause there's no Light still use Diesel to du logistics..... I believe if Diesel is so cheap produce will get cheaper.... 3 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by nairalanda1(m): 5:56am On Apr 16 |
Flier: Because the gas people are owed nearly 2 trillion naira by the power companies, and they are tired of selling on credit. Also, we need to get an extra 10000 MW before we can assure every Nigerian on the grid now gets light. 3 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by nairalanda1(m): 6:00am On Apr 16 |
SoNature: 1.Government is upgrading the transmission system to transmit 25000MW, which is good....especially as our installed capacity is 22000 mw..and we can only transmit 4000mw on our rickety transmission system 2.The generation arm of the power sector is in private hands. That means that the only way they can generate power is by earning enough money in terms of revenue and investment. Revenue is stifled by the fact that discos can't charge cost reflective tarrifs, and this affects investment. Especially since we need to raise generation to 33000 mw to ensure everyone on the grid now gets enough light. (Improving it to ensure that all Nigerians get light would cost 100 billion dollars over 5 years.). 5 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Mercury12(m): 6:02am On Apr 16 |
Reduce price of diesel will crash price of goods. This is what nigerians need at the moment. 1 Like |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by UstazAhmed(m): 6:07am On Apr 16 |
Dangote refinery is coming |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by YoungBlackRico(m): 6:15am On Apr 16 |
Tjra:As you can see, they are still crying aniut diesel. |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Princeton92(m): 6:15am On Apr 16 |
Ejiakusmith: But N500 too cost na, we were expecting 300 maybe 💢😡 4 Likes |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Judolisco(m): 6:17am On Apr 16 |
D same thing with taxi drivers even u dey do uber or bolt..... Walahi it's no longer business as usual |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Zetty177x: 6:26am On Apr 16 |
Kenochi: But ur members voted for Tinubu. That's the price to pay for tribalism 1 Like |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by Flier: 6:28am On Apr 16 |
nairalanda1:Power will be almost stable if they can maintain the available 7000MW, last year August through December was a good example Even if we built 100,000MW plant,these people won’t buy gas to power it.They just prefer to exploit people Only hydro power can really power Nigeria because our capitalists are criminal minded 4 Likes 2 Shares |
Re: Diesel Takes Up 80% Of Our Profit - Manufacturers Association Of Nigeria (MAN) by nairalanda1(m): 6:36am On Apr 16 |
Flier: 1. We need 33000 mw to guarantee everyone now on the grid to get light 2. Gas is expensive. Right now gencos and discos owe the gas people trillions of naira. 2 trillion because they don't have the money. That's because the government forces the power sector to charge a low price to help the poor. Well, it isn't helping anyone 3. Power companies want to give light. They have to make a profit doing so to pay for expansion, upgrades, staff salaries and so on. They are not madt to refuse to supply power. Like you want to be paid a fair wage for your work or make a.fair profit from your business, they want the same. 4. Hydro is not sufficient at this time. We need gas and eventually green power , solar, nuclear 5. Nothing wrong with capitalism. Everyone wants to be paid. Including you. 2 Likes |
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