₦airaland Forum

So it is APC arming thugs in Edo state and not Obaseki and his PDP supporters that have declare the election “do or die”?

Weldone o Nairaland moderators. Keep up the biased and false reporting. E go clear this Saturday.

Fubara and the Bauchi state governor are on their own. In fact, that Bauchi state governor has been too comfortable. It’s time for Wike to put small fire in the Bauchi state PDP to ruffle him up.

fergie001:
How did you know?

I don't like it

You were expecting Seyi Makinde to go against Wike’s interest?

Mercenary123:
Igbo governor in PDP should not join the southwest and makinde in playing the spoiler

This people do not care about us. The only way APC CAn remain in power in 2027 is if PDP fails organize themselves in unison and continue to play into the hands of their enemies in the west and wike who doesn't want the party to survive. Responsible PDP and labour party should form a merger to unseat this calamitous regime of the APC led by the yorubas because they have failed Nigerians

There is only one Igbo governor in PDP and he’s very inconsequential in the scheme of things in the party. If he says pim, Wike will set fire in his state and the forgotten NYSC forgery will be brought back with new evidence. Trust me, he won’t dare misbehave.

id4sho:
Now you know why USA fought against Huawei and ZTE products on their land

Makes so much sense now. Those guys can kill us by simply blowing up the phones we carry about. We are so fvcking behind and vulnerable in Africa.

The way they are reporting how gadgets are exploding up and down in Lebanon is scary. We’ve all been carrying bombs around without knowing. Small quarrel now and they will start using our phones to kill us. So so scary.

10mobile:
Is it about people in Abuja being superior, or Abuja itself being a superior region since it's the seat of government?

Abuja is not a superior region in anyway. In fact, Abuja is an inferior quasi-state unit in the federation because it does not have the status of a full state. The constitutional provision a lot of you are misinterpreting was actually to push Abuja up to something close to a state status so that it won’t be treated as an inferior unit in the federation.

Constituency projects embedded in the capital budget of the agency by lawmakers from all parties. It has nothing to do with Tinubu. If you all don't want constituency projects again, tell your respective lawmakers. The executive did not initiate any of those projects.

If you can import and sell below N950, go ahead and let’s see. These marketers are just clowns aswear.

KEVIND:
Kenneth Okonkwo, you wanted Obi to act in a rascal & violent way to remove Abure. But Obi did it in a peaceful & non violent manner.
Kenneth you didn't understand Peter Obi, he is called Okwute for a reason.

In simple terms, INEC does not recognize both Abure and Nenadi Usman faction of the party. LP has no recognizable National Chairman and National secretary as we speak.

osayuwamwen:
The product they gave NNPC was bought in dollars, and was sold to NNPC in dollars however they claim it way cheaper than what NNPC spend to import into the country, the crude for naira deal will commence on Oct 1st that is when the new price will be set

So, this one that they bought in dollars and sold in dollars, how much did they sell it to NNPC? Shouldn’t be so difficult to disclose now.

Aseneshii:
He can't sell directly without government ( NNPCL) approval. As far as Nigeria is concern NNPCL decide how business is conducted in oil sector

That’s a big lie. There is no law that says he can’t sell to marketers directly. NNPC made it clear some weeks ago that he can sell to marketers directly if he wants.

TEYA:
Had he kept quiet would you even realise nnpc is planning to rip you off?

Tell me how NNPC is ripping me off when Dangote won’t tell me exactly how much he sold the product to NNPC.

TEYA:
Go and ask for honesty and transparency from the rouges you empowered and the NNPC that were employed by government to serve your interest. Dangote is a business man that owes you nothing! You should be grateful he is even putting up some effort at exposing nnpc's dubiousness.

We all want NNPC’s dubiousness to be exposed but sadly, this statement by Dangote is not helping matters. What’s wrong with Dangote saying we sold PMS to NNPC at N600 and not N898? That way, we can mobilize and beat up any NNPC official that wants to sell the product at N900. It’s really sad seeing Nigerians trying to defend Dangote’s opaqueness.

LucemFerre:
October 1st Prize will be disclosed.
Sorry for the eye ache

Lmaoooo. So the products they gave NNPC today, na October dem go reveal the price? Omo, Nigerians really mumu

LucemFerre:
Shea you blind ne abi you no sabi read?

Eye Dey pain me small no vex. Just tell me exactly how much Dangote said they sold the product to NNPC?

TEYA:
Shame on you for not having the guts to question NNPC and you political leaders. Dangote said he did not sell it to them at #898, go and ask those shameless thieves the question you are asking him.

If Dangote is sincere, he should tell Nigerians how much he sold the product to NNPC. Why issue such a disclaimer without telling us the exact price. Where is the honesty and transparency? Dangote is playing ping pong with your head and you can’t see it.

Bamss1:
I think not mentioning how much
Dangote sold to NNPC is more professional. This is just a call for NNPC spoke person to retract whatever fake information he has released to the public and be more factual.

Arrant nonsense. The only way to put a lie to NNPC’s statement is by coming out clearly and honestly about the price. This press statement is opaque and senseless. Tell Nigerians the exact price if you want to be honest. Transparency is key in everything.

So, how much did you sell the product to NNPC? I can’t see the actual price in the press statement. Again, I call on Dangote to come out clean. The presidential committee is not the one producing for you. Tell Nigerians directly how much you’re currently selling to NNPC based on the crude you bought in dollars.

Ance4Liverpool:
must you mention peter obi?
Was it only peter obi that contested last general election.
Keep defending ur pay master very soon the month will end and u will recieve ur 30k

Just answer the damn question and stop capping nonsense.

Ance4Liverpool:
Hahahahahah purchasing price is #898 then nnpcl will sale to us how much?
My happiness is both apc pdp and lp is enjoying the tinibulation.
Very soon 2027 will come and tinibu will share 5cps of rice,2k and sachets of salts una go still vote

So, Dangote would have sold it cheaper if Peter Obi is the president, right?

vanbonattel:
The purchase price, not the selling price after adding profit to pay all the fat cats enjoying their lives in US beaches.

That is Dangote’s selling price. If you want to buy directly as a marketer from the refinery, that’s how much they will sell to you whether you’re a fat or slim cat.

It’s good that NNPC has finally disclosed the price to Nigerians. This is what I was asking for earlier today. Transparency is very key at this point. Those thinking Dangote will sell around N500 can now see for themselves. There is no cheap PMS and NNPC is not making any profit on the product. In fact, they will now have to sell below the purchase price to Nigerians in order to sustain the current market retail price.

Johncuppa:
I'm not a supporter of Peter Obi. But you guys should understand what we're talking about.
Deregulation is inevitable, fine.
But the place where we need the ingenuity of the president is what to do next after removing subsidy.

Watch Yemi Osinbajo APC manifesto and learn.
You don't just allow subsidy removal and be sitting, doing nothing worthwhile to see how other aspects of production lines we can leverage on will cover up for the oil.

Now, like PYO projected manufacturing and partnership with Nigeria young minds, Peter Obi was and still shouting production
Asiwaju never say anything, knowing capitalism and taxation are his ways of governance and that will spell doom for the poor ravaging Nigerans is the reason everyone is on his neck

The same Osinbajo that was Vice President for 8 years or which one?

You guys talk as if Tinubu has been president for the past 10 years. Considering the kind of economy he inherited, what magic do you want him to perform in a little over a year? Even the subsidy and unification of exchange rate that he’s pushing, we can all see the difficulties.

We must first stabilize the removal of all wasteful subsidies before talking about the gains. For now, it is still chaostic. The goal for now is to stabilize the system. Most especially the exchange rate. With Dangote PMS, we can achieve that in another one year. Without exchange rate stability, nothing much can be achieved.

Kobojunkie:
The cost of fuel in some parts of river's state is Naira 2000 even with you paying only Naira 900 pre-Dangote supply. So, if post-Dangote supply, you continue to pay Naira 900 in Abuja, what price do you think the marketers would sell the same in River State?

That’s the point of NNPC being the sole off-taker so that they can sell below the market price to maintain the current official price of around N900 to Nigerians. If marketers are to buy directly from Dangote in a willing buyer and willing seller arms length transaction, Nigerians will buy around N1200 and the noise will be too much. FG can’t afford another increment again.

MEEVEET:
Selling it below market price is a form of subsidy na

Yes. Do you want the price increased again? Nigerians have made it very clear they want cheap PMS. They want it below the actual market price.

Kobojunkie:
Is the price of that same fuel the same across all of Nigeria as well?

I can only speak about where I live.

CSTRR:
Please, APC supporters will get their own cheaper.

Why should they get their own cheaper when they voted for Tinubu because of his promise like all other candidates to deregulate the oil sector? Why are you Obi supporters crying more than the bereaved?

Kobojunkie:
You dey Nigeria so?

The official price at most filling station here in Abuja is still around N900 so what’s your point?

MEEVEET:
I don't know why this government lie so much... This is becoming a sickness

There is no way under the sun dangote can sale petrol at ₦898... It's absolutely impossible

Crude oil cost 72 dollars per barrels it cost 5 dollars to refine averagly that's 77 dollars

There are 159 litres in a barrels

5% of crude is lost during refining average that's so we have 151 litres

refinery expect 40-45% gasoline, 25-30% diesel, 5-10% aviation fuel, and about 15-25% "other"

So let's use 45 petrol, 30 diesel and 10% aviation fuel ( kerosene +diesel blend)

The remaining 15% is basically worthless

For simplicity sake let's assume petrol diesel and kerosene are same price

85% of 151 = 129 litres of products
Crude cost + refining cost = 77*1650 = 127,050

That gives us a cost price of ₦985

Let's say dangote sets a profit margins of 15%

That gives us a final price of
₦ 1,132

I have been very very conservative here... Cost of refining, and yield but this is the minimum dangote can sale his petrol

We don’t know the price at which FG sold crude oil to Dangote and the exchange rate. If I don’t know anything, I am 100% sure the exchange rate used in the transaction is definitely not $1=N1650.

In transactions like this, a fixed rate below the market rate would have been agreed to because of the volatility of the exchange rate.

jmoore:
That's 900 naira. Which means retailers will sell around or above 1,200 naira.

Next year inflation will be ebin pawa pro max.

NNPC will sell below N900 to marketers so that they can sell to Nigerians at around N900.

baralatie:
You have your answer...nnpc controls that product

For transparency, Dangote should announce his price. It is that simple.