₦airaland Forum

nairalanda1:
BY 2012 , there were over 20 licences issued for refineries. The only thing stopping them from commencing constrictuon was subsidy.

Subsidy means price controls. Back then, fuel would have to cost about N140 and above to make any refinery profitable. But since government was setting prices at N65 , later raised to N97 and then N87, any bank loaning money for an investor, or any investor putting money into a refinery would have lost a lot of money, so banks no go give loans.

Dangote was able to build a refinery back then because he has other lucrative businesses. Sugar, cement, food, etc. Assuming he could not pay back the loans he took to build the refinery (he spent 19 bn dollars, eventually, 3 billion came from his pocket, 2.9 billion came from the government, the rest came from various banks, local and international), all his lenders need to do is to go to AMCON who will take over his other businesses, and use it to pay them back their money.

That is why subsidy had to go back then, but most Nigerians refused, and tinubu and buhari were busy encouraging them to refuse. See where we are.

Same issue with NNPC, government was finding it difficult to fund refirneries, and subsidy by 1993, and instead of ending subsidy, they took the money used for funding refineries and used it to fund subsides. Result is the scrap we have as refineries now...and every government since 1993 is responsible.

You ended up writing long note for nothing, I said who will build the refinery? Since the subsidy was removed how many individuals have started building apart from Dangote? It means he was the only one that could have also built back then. You think building refinery is building fuel station? Maybe u think the likes of Elemelu & Adenuga can build refinery? Anyone that can build a refinery must be as rich as Dangote or richer than Dangote. Name that billionaire that is richer than Dangote in this country

nairalanda1:
Austria ..fuel costs 1.79-1.84 EUROS...which is about N2861 to N2940 euros.

Better tell us another story.

Before comparing fuel cost to Austria, what is the minimum wage in Austria?

ogascomax:
Dangote is a criminal and he won't hold us hostage with fuel like in cements.
Is agenda of wants to be the only one controlling the fuel industry shall fail.

When Dangote was building this refinery, everyone was screaming fuel will go down to 500 naira immediately the refinery kick off, but today fuel is already selling for 1500. I just hope nnpc is able to fight this, if there is no competition in the market, Nigerians will buy fuel for 5k sooner than they think. Monopoly is very bad for consumers.

nairalanda1:
If you Nigerians had supported total subsidy removal in 2012, or even long before 2006, by now we would have had more refineries competing with dangote.

Who will build the refinery?

Dreal1247:
If importers are hindered from importing petroleum into this country, Dangote will make people to buy the products at #2,000.00 per liter. Even if they are eventually allowed to import the products, he will frustrate them with price. Let more people build refineries in Nigeria for a healthy competition.

Exactly
Fuel importation should be allowed to continue to create price balance, else we may end up buying fuel at 3k sooner than we think.

YouandiAllofus:
NNPC at it again... No be dangote say make una mismanage una refineries.

The NNPC should pick up the challenge of revitalizing it's refineries and sell refined products at a cheaper price. This is the best way to bring down the cost of refined products alongside selling crude products to refineries at a reasonably fair price too.

Oga let them import, it will help checkmate Dangote fuel price. Immediately fuel importation, we have seen how fuel price has drastically gone up.

Emzedz:
Have they ever disclosed the stocks they're investing in.. keep defending them while they swim in billions of profits n spray little gains to investors.

It seems like equity fund is not for u
Were u expecting the market to be going up continuously? All through April, the market was blazing, it is only natural for it to cool off. Serious patience is needed in this market, it is not even advisable to be monitoring daily prices for equity fund, it is not mmf. If u are not ready to take the risk & fluctuations that come with equity, u are better off with mmf.

Emzedz:
These fund managers should be investigated by EFCC n ICPC..

Forget ASI, try to check stock prices, they are still doing badly, the ones that are not doing badly are just stagnant, no upward movement. You can't blame the fund managers.

Bluntguy:
I just sincerely hope Fubara has an ace up his sleeve because no governor can take the nonsense Wike has been dishing out to him on a daily basis and keep quiet like that, no matter what you have done for me. I will use the instrument of my office and fight you to a standstill. Honestly this Fubara's docility is very irritating.

Oga Fubara is not docile
No governor can fight a president
All the governors u have seen fighting their godfathers in the past it is because the president during those regime was neutral. In this case, it is Fubara against the president, there is absolutely nothing he can do.

iLegendd:
You should only worry if the government can take your private wallet, else don't.

The Nigerian government came after Binance some years ago and even stopped P2P and some thought we'll all be dead and crypto won't exist again. Drama is needed for growth.

The only thing someone in crypto should be afraid of is the ENTIRE world having no internet and electricity at the same time.

Even quantum computer can't do anything cuz if it will, normal banks that have lower encryption will be wiped out in seconds.

Not that it can't do anything sha, but it'll be patched the moment loopholes are found.

By the way, children of government officials use crypto the most. If Trump's son, Tinubu's son, Wike's son, etc. show you their numerous wallets, you'll know crypto is here to stay.

Leaders' children are mostly the people that tell their father most things they do.

Na Gen Z dey lead us, so no worry. The father is there to steal, the son is there to hide the stolen wealth.

Very accurate!

kingthreat:
The man is the foolish one here.
Spending only 50k on himself.

Even that 50k still goes into the family like light bills, health, house rent etc. That 150k will probably be for food, the man will still be the one to pay some bills from the 50k.

PigTormentor:
They are having an open primary where anyone is free to contest.
Your cult leader is running around looking for free ticket.
The Agulu packaged fraudster is using excuses and playing the victim card to get free ticket where he will be the sole candidate.

You guys sabi deceive una selves
So if someone is to challenge Tinubu under APC is an unpopular person like this guy? This one na arrangee, no be primary. APC presidential primary was needless, except it is part of Inec requirements. Nobody will dare to challenge Tinubu under APC.

Jakpon:
It was a charade yet the turn out was mammoth and unprecedented. Meanwhile these are just party delegates voting in a Primary Election. What then do you think will be happen when we get to the real deal; the General Elections itself. Una think say election na by social media noise. Lol. Tinubu go teach una Politics 101

My point is the primary was needless, since even a baby know nobody will challenge Tinubu under APC. Maybe it's part of Inec requirements.

JAWBONE:
E be like say una dey craze for that APC.

Who be this nobody wey dey talk like say no be plant dem plant am for the primaries.

Exactly @bold
I don't understand the reason for the presidential primary. Maybe it's part of Inec requirements. Because it is pointless.

pedro4hope:
Just as expected, money has changed hands

Which money changed hand?
If the primary was truly open for contest, u think say na unpopular person like this one go challenge Tinubu? Lol

This APC presidential primary is just pure charade. It was needless organizing it. Tinubu is unopposed, I don't understand why the party decided to waste resources on this.

DeLaRue:
The primary that seemed unnecessary initially has turned out to be a blessing for APC.

'Nobody will vote Tinubu' crew. How far.

All the people all over the country who live close to or use the massive and unprecedented road projects going on will vote for candidates who may stop those projects abi?

Delusion.

Stop being delusional!
This APC presidential primary is just pure charade & u know it. Tinubu ticket was unopposed, I don't understand why they decide to waste money on presidential primary. It was needless.

The rate of inflation under this govt is unbelievable! You can't even estimate a building project for only one month. You can start a project with cement price at 10k on the 1st, before 15th of same month price will be at 12k.

Penguin2:
Fubara is a sissy.

Pathetically so!

Fare thee well, sister Fubara!

You never won anyways

What do u want him to do??
Wike had the backing of the president, there is nothing Fubara can do, forget all these sissy talk. All the governors that succeeded in fighting their godfathers succeeded because the president during those regime was neutral.

Politicstoday:
I’m disappointed in Fubara for withdrawing from the Rivers APC governorship primary.

He should have considered his followers and the development of Rivers State. Why make a decision that will destroy the destinies of the people who stood by you?

If you weren’t ready to defend the people who risked their lives for you, you shouldn’t have started the fight in the first place.

What now happened to people who risked their lives for you ?

Why the abandoning campaigners, ward coordinators, and grassroots members who invested time, money, and reputation with nothing to show for it.

At this stage, please kindly resign

I’m really disappointed.

There is absolutely nothing he can do at this point. He is powerless now. He miscalculated by decamping to APC. Now I see why Wike has refused to leave pdp to officially join APC.

Ofunaofu:
Why then did he decamp to APC

He miscalculated big time
He thought they were going to consider him, being a party member, he never knew he will lose all his powers by decamping to APC.

princepee:
Which of the hospital is the best to go to if you have any of the symptoms.?
General or private?
I have a friend who have been having such symptoms for months.
He

Tell your friend to do an abdominal scan in a private or govt hospital to confirm.

Apcshit:
Take the hepatitis vaccine to prevent liver disease

Hepatitis vaccine doesn't prevent fatty liver
Alcoholic fatty liver is caused by excess consumption of alcohol, non alcoholic fatty liver is caused by eating habit & the kind of food u eat. Go to the hospital & see so many people with fatty liver that don't have hepatitis

Kalulu44:
Bro if you insult me anyhow you want, you are spot on. I won't even reply your insult.
But the truth is I grew up having girls at my beck and call. I have never toasted any girl in my life. My youthful, handsome and intelligent self always attract these girls to me.
And thru it I have my 3 wonderful kids. I thought it will continue like that until the genz generation. If no be money you no fit get genz girls o. I can talk to a girl face to face, but I have a phobia for someone rejecting my advances. So I like doing it in writing, if you like gree or not, e no concern me. So far you didn't tell me in my face

You misconstrued my comment, it is not an insult. There are certain things we should naturally outgrow with age, at 46 u shouldn't be afraid to ask a girl out, these are things teenage boys should experience, not an adult. I will still suggest when next u see her, tell her u will like to have a word with her, ask her about the letter u sent. It's a better approach than sending message on Whatsapp.

Kalulu44:
I just think she's not interested.
But I am ready to hit the bull and damn the consequences. I will send her WhatsApp msg asking why she hasn't responded to my letter. If that will stop our friendship, so be it.

Is this real or fiction?
You mean u are afraid to ask her physically, someone u see everyday, but will rather send her a message through Whatsapp at your age?? What sort of a man are u?

CalmElder:
You are probably in your late 40s or early fifties.
You be fine guy, na confidence be the problem.

Honestly @bold
Imagine greeting someone everyday but waiting to repair your phone to send a message lol. A man at his age shouldn't be this fearful

Keith05cool:
I have done all that, but yet they still want to stress me

If u were verified during account opening, they don't need all these to approve your bank account. Is the name on your bank account different from the one you verified with during account opening & your id?

Kobicove:
I don't think she's lying, from the way Frank reacted after he caught her it is obvious that he too had his own skeletons in his cupboard

Which full blooded Nigerian man would catch his wife red-handed cheating on their matrimonial bed and be negotiating with the cheating wife to end the illicit affair?

No Frank was trying to protect his second marriage by all means. This was his second marriage, knowing if this marriage breaks, it will no longer make sense for him to remarry again. Reason he was trying so hard to salvage the union, not because he had skeletons in his cupboard. She is obviously lying because of dragging. Too obvious!

brain54:
If you were tired you could have just left...
Must you cheat? Such dramatic entrance. Because your reputation is tarnished you want to drag the poor man and everyone else you can along like the devil wants to drag people along with him to hell!

Exactly @bold
All these are just lies to tarnish Frank image
She doesn't want to go down alone
I can imagine what Frank went through in the hands of this lady

Avalon & Camry are not in the same category. Compare Avalon to Lexus not Camry. Avalon is a power house

dederocs:
People dey die mumu dey talk of cows. Eat fish, goat meat, cow meat not healthy.

Seems u guys don't buy meat in the market?
Fish & goat meat is even more expensive than cow meat. Cow meat is the cheapest & goat meat is the most expensive.

iamjavadem:
Meat has disappeared in my house since forever. We only eat fish and chicken. Eat suya when hungry for meat.

But fish & chicken is more expensive than beef