₦airaland Forum

nairalanda1:
Nope, you don't get what a subsidy is. If local production started, people will agitiate that fuel prices should be further reduced.

That's the issue.

In real sense, should local production kick start the price will definitely be lesser to imported one,

People wil alway bargain or call for cheaper "Prices" to market price ... what is important is that Nigerians a not short changed

the real issue is NNPc/ cabals wont allow transparency around the oil sector, why else would they want to be sole distributor of dangote inferior fuel
why would Dangote entrust FEC to determine Price for his product , if not that something as gone wrong behind

lexy2014:
you are getting emotional as if I am responsible for the bad political decision you made and the reason why you feel hurt that tinubu has disappointed you.

so 8million of you put the country in this mess and now you are crying? wipe your tears. tinubu is there for you.

pls what are "exemplary leadership" that tinubu showed in the past?

who are the "fanastics hands" he produced?

how did he produce these "fanastics hands"?

when did tinubu show activism for the common masses?

you are very funny. you say that "how a man that as instigated many protest will turn around to disparage "Protest" is bewildering". the reason you are bewildered is that you chose to see only what you wanted to see.

who controls the entire Lagos state since 1999? how did tinubu handle his deputy governors? who owns alpha beta?

can you tell me the "bad influences" that changed tinubu?

if you say that "the only thing constant in life is changes", how then are you now bewildered that tinubu instigated protests in the past and "will turn around to disparage "Protest"? who needs to receive sense? me or you?

can you show me where I said "emilokan" is a derogatory word?

which mega development does tinubu have a penchant?

how can he "as a penchant for mega development" and you thought he had such penchant?

I ask again:

do you think that it is today tinubu developed the wickedness and deceit that you were asking me about or that is how he has always been?

do you think that tinubu ever had the objective to bridge the gap between the rich and poor?

somebody told you "emilokan" without any shame or reservation and you were expecting that same person to resuscitate the economy and bridge the gap between rich and poor?

is it emotion not a feature of human or how can one be patriotic without emotions asides asking jamb questions daily here do you have time to think
Tinubu is here for us all, except you are not in Nigeria, you can lie to yourselves you are a billionaire and inflation gives you goose bumps .. las las you go log out reality is waiting

sometimes i wonder if you are a human or BOT, same repetitive dumbshit

lexy2014:
who are the "we" that thought that tinubu is man that "has good visions that will resusituate the economy"?

what characteristics does he have that made you think that "has good visions that will resusituate the economy"?

do you think that it is today tinubu developed the wickedness and deceit that you were asking me about or that is how he has always been?

do you think that it is today tinubu had the objective to widen the gap betwen the rich and poor farther?

how is tinubus actions so far a shock to you?

what has tinubu done that made you to expect anything good from tinubu?

somebody told you "emilokan" without any shame or reservation and you were expecting that same person to resuscitate the economy and bridge the gap between rich and poor?

Was it "one man" vote that made Tinubu president or 8 millions votes does not suffice as "We" ... get a thinking cap bro
if you posit to be an oracle no wahala, But no one knows tomorrow

Tinubu as show exemplary leadership in time past, he has produce fanastics hands , shown activism for the common masses ... how a man that as instigated many protest will turn around to disparage "Protest" is bewildering, agree or not

Tinubu as a penchant for mega development so we thought .. cos if Nigeria develop our lives we definitely change for good

People can change overtime, experience change people and bad influences change people ... the only thing constant in life is changes .. recieve sense bro

Emilokan is not derogatory word, besides the statement was directed at his party men .... why you take am personal is your headache

Mr jamb, the ones that gave beautiful/perfect speeches in the past ... how did it resusicitate the economy, when did sweet words and reservation ever bridge the gap between the rich nd poor.

I just deliberately answered your jamb questions, you are so predictable

lexy2014:
my brother, you are wonderful. you are in this country and you are asking me this question? have you been seeing tinubu as a saint all this while?

Nobody is a saint, and even Tinubu himself as never portray himself as saint, we thought these man has good visions that will resusituate the economy ... But now it seems these man objective is to widen the gap betwen the rich and poor farther

it is still a shock, that there could be a govt worse than Buhari govt, as to be deliberate

Adblg0610:
Congratulations to Nigerians on our gradual emancipation from economic slavery. Surely but steadily, we shall overcome this socioeconomic adversities ,as Nigeria rises from the ashes of the inglorious past mismanagement of our common patrimony . Nigeria shall be free from bondage of corruption and international conspiracy, keep our date with destiny and become the land full of milk and honey. God bless the Federal Republic of Nigeria. God bless President Bola Ahmed Tinubu. God bless Alhaji Aliko Dangote.

Bro, the congratulation is just to dangote for now, with dangote expressively saying Fec will determine price and the NNpc enforcing itself as sole buyer

For those that see beyond the nose, its a signal the conspiracy, intransparency and corruption days is not over yet.

Anything NNpc touches turn to whip for Nigerians, its so worrisome our jailer( Nnpc) still holds the chains, God save us

lexy2014:
Tinubu did not play on anybody's intelligence

Are you saying he just exhibit is wicked and decietful nature on a norm

F117nighthawk:
Mumu NLC, instead of u to fight for a proper living wage,u go settle for 70k as minimum wage,I was expecting nothing less than 100k at least as living wage,now TINUBU Don show Una say he wise pass NLC.
abeg make una go lick una wounds

O ye fool, when will you realize that what ever size of animal the devil gives you for xmas he will collect a whole human being in return

Tinubu is a classical example of Devil , nothing that man gives he will collect ×10 in return.
Nigerians should just look after themselves,cos Tinubu will go any length to squeeze money out of Nigerians to enrich himself and friends
God save us or we save ourselves 2027

nairalanda1:
If you were refining fuel at N1000 per liter or more, and then you had to sell that fuel at say N500, or even N200 to the independent and major marketers, so that they could sell at a profit, and government is struggling to pay subsidy money to you or won't pay it...but is paying NNPC subsidy money for the fuel it sells to marketers, you would lose money.




The reason why the refinery business is not viable in NIgeria is because subsidy means that any refinery operating , in theory, operates at a loss

For now, let's see how government allows Dangote and other refinery owners to operate. If they are forced to sell fuel at a loss, or they sell fuel to NNPC, and NNPC then sells fuel at a loss and struggles to meet its payment to Dangote because...they don't have enough money....the same problems would persist.

TLDR: Refineries have to sell fuel at a profit to work well...meaning prices could be as high as N1300-1500 or more per liter.





NO, most lenders were not lending money for refineries...because they knew they won't see their money back.

I mean, until 2013, every product from a refinery was being subsidised...and after, petrol, a major product was being subsidsied. That means that any refinery operating in Nigeria on a private basis would operate at a loss...because subsidy means that government would force them to sell at a loss.

Dangote is a shark, but the reason why he got loans from banks was because if he defaults...the banks simply swoop on his other lucrative businesses and pay themselves. (or AMCON would help them do that). Not everyone has Dangote money and dangote ability to front that kind of colalteral (except people like BUA who is builing his own refinery).





NO, no bank would invest in a business where the business owner cannot set his price...government is doing it for him, and government is forcing him to sell at a loss. That means that worst case scenairo....the bank won't see its money again

I mean, again, a liter of fuel costs above N1000 to refine. That means that it has to be sold above that N1000 per liter. Otherwise, the refinery would lose money, and as we know, government struggles to pay subsidy (infact, NNPC is essentially now raiding investors money to pay for subsidy. Yes, the investor in this case is government, but even then, it shows how bad things are ).

And with that in mind, banks won';t lend money for refinery...unless, as I said, thy name is dangote, and thy collateral is your lucrative other businesses and properties.

Meanwhile, banks are willing to lend to GSM companies, because GSM companies can set their prices. Government is not forcing them to charge one kobo for one hour calls...in the name of helping the poor breath.

The projection you have in play is unrealistic and non existence, infact it makes me question your understanding around business environment
1st, locally produced goods will always be cheaper to foreign product cos of import duties & levy in the mix
The landing cost of Pms is around 1200 that tells me dangote refining cost should be lesser or around 500,
Nnpc incure double freight cost i.e we (export then import back) when you minus that and other associated cost to importation you will see it a big extra cost compared Local refining.

However, it is ridiculous to assert a govt will subsidize a foreign product against an indigeneous substitute, lets not forget Nnpc as a stake in dangote as well.
Govt is not in the business of launching a rivalry vs private investors in the country, pre or post 2013 Nigeria as always imported fuel and xchange rate coupled with landing cost as always necessiated subsidy.

while we are still dealing with the absurdity of NNpc being sole buyer of dangote fuel, Yesterday Dangote told Nigerians Fec & nnpc will determine the price of his own fuel ... thats tell us how desperate the Nnpc/ govt are trying to cover up their track/corruption ..
whether govt subsidize fuel or not, dangote will always sell at standard profit to whoever is buying ... Refinery is viable, the conspiracy that surrounds it in "Nigeria" is what scares investors away

why will NnPc hijack dangote fuel as against open market or competitive market ...these conspiracy, lies, corruption and darkness in the oil sector is why lenders/investors are weary of such business. No transparency its already reflecting on dangote


lenders cant operate where transparency is a taboo

fmlala:
Then competition between NNPC and Dangote will be in favour of the masses.

A competition between NNPC and Dangote is not even an healthy competition, as long we import fuel that means running a subsidize products vs a private investor .. the govt as literally killed the investor


Already Nnpc as a stake in dangote, they cant be a conpetitor in real sense if you are knowledgeable enough

Biodun556:
Whether it is 1000 or 857 naira per liter, it calls for celebration. At least subsidy or landing cost matter has come to an end. And government should not have excuses again for poor performance, pilling up of debts.

who tell you ?? did you not hear nnpc throw jab against dangote monopoly, is that not a hint they wont let only dangote sell

ednut1:
One example:
Imported ( smuggled)Frozen chicken vs live chicken. Cost of feeds have gone up, cost of borrowing is high, cost of fuel/ transport high.

Dangote got some of his crude from USA which was bought with FX, the machine/ spares for the refinery are bought with dollars, he is supplying his own energy vs those abroad that get from national grid. E no go cheap biko

why frozen vs "live"..?? why not imported frozen vs local frozen, an imported frozen chicken sells for 5400 per kilo whereas a full chicken fiesta or zartech sell for 5k or below depending on outlet
Bro try import live chicken then we can go back to these conversation proper

Even though dangote got some of his crude from overseas, the price he bought it is same as the price NNpc sold to him, the only add to the mix is freight cost
There is no way you can undermine double freight ( export then import) cost plus overseas tax in dollars Nigeria incure compared to local production and distribution

Have you seen the prices of food item in the North but look at what transportation and extortion on our roads do to the price of those commodity when they get to the south.
freight & Landing cost ruled out is a big discount

nairalanda1:
Peter Obi and many others have refused to set up refineries because your government was, and up till now, is forcing the petroleum sector to sell at a loss...in the name of subsidy

That is why as at three years ago, out of over 20, some said 60 refinery licencees, less than 7 of them (incl Dangote) were doing something. Because no bank would lend you money to do refinery business in a country where government is setting the price of petrol . The losses would be so great that they won't see their loans repaid. And you know what happens to banks that carry lots of unpaid loans....

Because with a subsidy in place, refining in Nigeria is risky and unprofitable. Unless you are as rich as Dangote...to provide a colalteral for banks to lend you money...nothing for you.

Obi is rich, but not as rich as dangote. Most states are so in debt that no one would lend them money for refinery self...or why hasn't your own state too built refinery.? Are they as daft as Obi for your mind...or is it because refining in Nigeria is not profitable thanks to subsidy? I think it is the latter.

Or why didn't tinubu build refinery when he was governor of Lagos? Because at the end, no one would lend any state money for a venture that is bound to lose money because Nigerians want fuel at N40 or less per liter. People like you

Meanwhile, beer companies are allowed to sell beer at a profit. No one is forcing Guinness, NBL, Consolidated, etc..to sell beer at a flat price of N10 per bottle....instead they can increase prices when they want, and how they want...and make their profit. SO, why won;t a state government invest in a beer factory, when they know they will see their money back with extra?

Oga, if there was no subsidy since 1993, if it had removed, I bet you Obi would have built a refinery pronto. Because refining fuel would be now profitable in NIgeria to make sense. Banks and other bodies would lend them money well well. Refienreis would spring....


That is why you guys should stop supporting subsidy. It is why Oriental refinery did not get off the ground. At the end, no one wants to invest in a refinery that would refine fuel at N1000 and sell it at N580 or less....per liter

I dont really know what you are all about, But the refinery business is a very viable business in a country where every household depend on Petrol as a reliable and alternative source of energy

what most lenders/ bank are weary of is the forces that be, conspiracy ploy and insincerity that chokes the oil sector its almost difficult for just anyone to breath around there, we saw what they did to dangote but Dangote survived cos he is a shark himself

profitability or vialiability is not why banks are weary of investing in refinery, the force against refinery is what they are avoiding
these imaginery forces are even major stakeholders in most of the tops bank/lender , if you understand how banks pull funds

ednut1:
cost of production in Nigeria is not same with cost of the imported one. Cost of finance in Netherlands and Malta is not same as in Nigeria etc. just like cement, if imports were allowed it will be cheaper than dangote.

if you are trying to postulate cost of production in Nigeria is not cheap, i agree

with the forex rate, freight cost and delivery cost in play, local manufactured goods will be lesser .. lets subject these to reality
think of one imported item you know more expensive than local product currently

MEEVEET:
What type of talk is this one... There is an international price for petrol

Unless Nigeria gives him crude at a price below international price... He can't sale below International price

Int market activist ... int'L market price as it sounds regulates and determine the price crude are sold for at int'L trade scale as the name implies

Since Dangote is private, Nnpc would sell to dangote at int'l price ( naira equivalent) but however cost of producing locally is what will determine Dangote price

No matter the arguement anyone bring to this, local refinery guarantees lower price to import except Nigeria happens

Until then, these tinubu led thieves will still find a way to short change Nigerians regardless ...
nnpc asking to be sole distributor of dangote fuel is a plot by these rogues to cover there tracks and continue to make Nigerians live is abject poverty .. naa there fetish

CyrusVI:
He's talking from the angle of reduction of pressure on the FX demands, no turn am to fight


40% is a whole lot...it means by Nov 2024, we would have been relieved of all this pains

I like Visionary leaders
God bless PBAT and Dangote

Bro, looking at the economy policy somersault of these tinubu led govt ... there is nothing visionary about that open is mouth subsidy is gone without any contingencies plan..
By the way ... if they are so sure Dangote fuel with hit the market by september .. shouldnt the price be a public knowledge by now or they want us to find X

Successtube:
“Pick up the pieces and move on” - That's exactly what I'm trying to do.

Bro forget all these motivational quotes and all sort we use and fool ourselves better face reality

A lot of marrried men here can relate with your story cos in naija wives are not so generous with money and sex
i have listened to a lot of couple program and at a time i attended magistrate court with my lecturer in law .... then i realized a lot of men in marriages are sex starved

Women are like puppies, how you train them or what you condone is what you get, foundation matters however your situation is not hopeless, besides going back to your Ex doesnt guarantee the happiness you anticipate , if she sef pack enter nd change nko, i hope you have a enough Exes for these experiment

Zonefree:
My only advice is, Don't let your wife stops you from finding the love of your life.

leaving ones marriage to go back to an Ex is not a wise decision

there was a reason you and your Ex broke up in the 1st place, if the love you share then couldnt savage a breakup whats the guarantee the lost n found love would stand the next storm

@successmatter, your wife didnt just change , bro you must have seen some signs but these urge to play a modern man make us blind to things we could have seen
Moving forward, your wife situation is not hopeless, however you have a job to do and i mean you have to resensitize your woman, maybe she acted the way she did because she felt you are understanding and she is playing on it.
Naa you know your wife pass, you need to resensitize her esp. n areas you feel she is letting you down, Oga stop forming Macho sire a team spirit in her

calios:
I thought they said the present administration has a plan against Dangote

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Aside "we will" futurist tense they keep telling us like alaba broken disc...have nnpc shown any support to dangote, even the agreement made did nnpc live up to it

the things nmprc said against dangote are they not still on public domains .


the earlier we know Tinubu/ nnpc don't mean well for Nigeria, we need to call out the govt more and protest more

lebete3000:
Transport business for this Lagos na probably one of the legalized way of being a ritualist.

Ogbonge blood money dey that business no be lie.

Just own like 5 buses lasaan, you're made for life meen.

I no just get the kain rugged and experienced Kamoru face needed for the business, I for don dabble into am.

That's if Driver and conductor let you drink garri keep cup

you go hear super story taya

pyyxxaro:
Please Permit me to blame Tinubu for this, I said Please 🙏

if only you knew how correct you are, who brought Abiodun upon Ogun people

would Tinubu have referred to dapo as "ele yii" if not that he installed him

Namaster:
It AMUSES me how people keep acting like Osimhen has suffered some big misfortune.

Guy may not get EXACTLY what he eants (NOBODY does) but he'll still be RICHER and more FAMOUS than 99% of Nigerians and about 90% of the rest of the world.

Jn short, Osimhen has MADE it. No matter what happens from here on out, he has ARRIVED.

People, especially Nigerians, should save their PITIES for themselves.

Also, Nigerians do NOT hate him.

When he was doing well, Nigerians HYPED him to death. They kicked out sliced bread and said Osimhen is the new sliced bread now.

When his club fucccked up, Nigerians FUCCKED them up in return.

Nigerians HAD Osimhen's back.

Even now, they still do and wish him the BEST. It's just that a lot of people respect him LESS after he acted like an AGBERO on Social Media.

The life of footballers is not judged by "money" instead naa by career, medals and competitions played..

in the football world, money naa normal thing to players, the end of a footballer is the day he stops playing

Poverty is why we think Money means no more pain no depression,

Standing5:
Fewer pollution. Let all the owambe crew rest. Anambra burial specialist too. Ijebu socialites added. Yariyas and abokis.
We pay attention to activity and not productivity.

slowpoke fuel scarcity & price is the sole cause ! you didnt think of the ripple effect on transportation, naa horse go convey commodities to the market

lemme guess, as Apc supporter you dont buy fuel, pay for transport or buy food items

allthingsgood:
Calm down.

With the pace and energy Tinubu take dey furstrate nigerians .. its Tinubu that needs to calm down

Nothing these useless govt get right, what is even worst is when they open there mouth to defend there incompetence, do these people even think b4 they talk smh

mfm04622:
1. It is a crime to receive funds from foreign sources ( including foreigner living in Nigeria) to organise protest or even anything to do politically.
2. It is a crime to organise protest that calls for change of government through an undemocratic means. Protesting with Russian flags, calling for military take overs are crimes!

You can see the only question they asked was whether he received any funds. So, organising protests can be a crime.

And which of the crimes you enlisted are being connected to the arrested fellow ,
what establish the fund was for protest or was it the timing
we are in a country were the police know best how to track protesters but are clueless when it comes to kidnappers & bandits,

lets not forget these was how the police accused Ajaero of terrorism only for the man to visit the police and they were spewing nonsense, when exactly are we going to get it right with the way the govt & police are acting irresponsible

Everyday kidnappers are getting away with ransom,police are feign handicap but they know how to trace protesters account


supporting evil,doesnt mean it as spared you or someone close to you

theophorus:
Instead make you jejely dey your dey, you go dey allow some state actors use you, you go tell stories ooo.

Wetin you for allow those Hatred infested people carry out their agenda themselves so that they can kollect in full.

People like Macaroni, Falx hide and Sowore run go obodo oyinbo but you go dey chest everything, my brother wetin your eye see Na you know ooo.

i can not coma die can not take over his father throne,
the useless Tinubu himself was a face in many protest, was he arrested

if you can't call out the police/govt for trying to surpress peoples right, oga simply shutup.


weytin Nigerians dey see under Tinubu is not fry pan to fire.. ode those in prison are even safer than you, wait until insecurity happen to you

Rossikk:
You are very STUPID to post such a senseless thing with no context or expansion.

But you found his picture to post?

Was that all the man said?

“It’s not our fault”.

That’s it?

You just posted something with no
explanation just so that people could abuse and insult the man.

You are idiocy personified.

i aint better than him if you insist he is stupid, instead of going after the messenger it would made sense if you posted the complete transcript and lets see if those imcompetence fools led by Tinubu can ever make sense or take responsibilty

MadamVanessa:


Shameless people.


Still them will go and rob women that made money with their body, after robbing them , they'll still come on nairaland to insult women. These people are so shameless.

is it not gross that the gender wey no fit kill rat have the mind to stand on the highway 1am waiting for a total stranger to an unknown destination

even kiss daniel bouncer no fit try am

Zubeezanga:
Lol most of you have started letting useless emotions cloud your judgement, he went to prison for a crime before stealing and what was the end settled amicably, was he guilty or not? Second he went in again Omo lol that dude should say the truth and for most of you who stories that touch the heart make u sense of morality derail into emotions, I pity you all na Una be reason this country worwor so, because any well packaged story your emotions will start flying instead of your common sense.

You are not any different, cos you ended up picking a side as well
those you are casigating base there judgement on one side of the story, which one you take arrive at your conclusion

thesicilian:
I support you 💯 for this.



However I have a feeling that this was the actual reason he got you arrested. You were "advising" a boss you just resigned from to learn leadership skills because of how he chose to collect his money from a fraudulent staff. That's insulting. If the client really had problems with paying into the company's account, why didn't the staff inform the boss and probably request the boss's account number instead instead of asking clients to pay into his own account? Who knows if the guy has been collecting money like that before undetected?
Even from your own account you deserved to be punished. [Maybe not 10months in jail though, but you deserved some form of punishment.]

Uncle which one of the offenses do you believe he should be punished for is a violation of law as enshrined in Nig. constitution.

let's assume the boy comes from a rich family would the Boss have succeeded in oppressing him that way

loveth360:
No different between them and Yorubas.

think of one bitter and wicked person you know, that you will gladly enter night bus to go live with