₦airaland Forum

GeneralDae:
True, without Dangote refinery coming on stream, I doubt Tinubu would have successfully removed fuel subsidy by now. He removed it on May 29th, 2023 and then floated the naira in June. The resulting inflation and increased money supply shut the naira to 1000 by October 2023 and he had to bring back subsidy again by using only the official rate of 800 for PMS imports.

This got worse in February 2024 when we harmonized both official and parallel rates again at 1300/1400. We did that but we were still subsidising PMS imports by using the 800 rate until October 2024 when subsidy was fully removed because of Dangote’s entrance.

Between December 2023 and September 2024, NNPC was owing international oil marketers $6.8 Billion and serious fuel queues returned as a result of this. We were on our way to serious collapse.

GeneralDae:
Importers still dominate the market for now alongside NLNG. But wholesale prices in Nigeria range from 740 to 1000 at the moment with Dangote selling the cheapest at 740 as at August 2025. No retailer should be selling above 1300 currently anywhere in Nigeria and none above 1100 anywhere in Lagos but for greed and other factors.

“Dangote’s cooking gas price cheapest in Nigeria Checks by Legit.ng on petroleumpriceng’s price data show that the refinery slashed the LPG price to N740 per kg, the lowest among depot operators and cheapest in Nigeria. The latest price is also the cheapest the refinery has sold cooking gas in 2025 after rates jumped above N1,000 per kilogramme. Experts have hailed the move as exemplary, urging other operators to follow suit. They also attributed the latest price cut to the declining crude oil prices in the international market. Read more”:

https://www.legit.ng/business-economy/energy/1669173-after-pms-dangote-refinery-slashes-cooking-gas-price-n800kg-lowest-nigeria/

ppogba:
This imaginary prices have been disputed severally in recent weeks on this same platform.

Gas is around N920,N950 and well below N1200 in several places now.

Don't take saying things untrue about happenings in the economy a full time job.

awesomeJ:
The government is drastically understating the impact of DIL on the economy.

Remove DIL's investment and let's see how well the reforms alone would go.

Diesel was constantly selling for 1700, man came in and crashed it immediately to 1200, inducing a significant relief to everything from the cost of milling flour to the cost of transporting tomatoes.


About this time last year we were hearing landing cost of PMS was 1120, add retailers margin, and we'll be talking 1200 in Lagos, man stepped in and we're doing 860.

Tinubu wants me to believe it's just reforms that are taming inflation?


Then you hear him talking of the largest export of Urea, export of cement.

Imagine how proud I was to read about him shipping hundreds of thousands of tons of PMS to the U.S, and Tinubu wants people to believe it's just reforms that are driving trade surplus??


That man is the only man that can make me get a PVC, I'll wake up at 5am on election day(I typically wake up past 8am), and stay with the vote for as long as needed if he ever chooses to contest.

I won't even care if he embezzles half the national budget, cos I know, unlike some dumb folks that will stash it foolishly in foreign economies, the man will deploy it fully back to help the economy way more than their borehole and street light budgets are currently doing.

He must make heaven!

Thank God BUA also seems to be following his footsteps!

GeneralDae:
Even cooking gas. His cooking gas price has always been lower but his production capacity of cooking gas is still not sufficient enough for the market so he doesn’t control the market share at the moment. He has however crashed his cooking gas price to 740. He plans to triple his capacity soon and then he can influence cooking gas prices too like he does PMS.
I believe the reason cement prices are still high at 10k (should be at least 9k) is that there are lots of informal taxes there and Government tax is high and he has complained about this several times. He said 52 kobo out of every 1 naira profit they make goes to various taxes.
We’ll see how the new tax law addresses this issue of multiple taxation.

Difrent:
Says who?
Its you who chose not to see where insecurity is condemned because you have made up your mind that other Nigerians only focus on south east.
Again I ask, should other Nigerians not condemning insecurity In other parts of Nigeria a reason why Gentle yahoo should be allowed to continue killing igbos in igboland?
Make it make sense to yourself cos it doesn't make sense to me

pluto09:
It is already harmonized, you don't need another TIN.

We4all:
Get a carpenter to construct a long strong stick, like the type some people use for turning swallow. Wrap a thick sponge around it and use it to wash the inside. Rinse and get some strong men to dispose of the water. Afterwards, wrap some thick hand towel around the stick.and use it to clean the inside.

Like I said, entering inside that pot was a no..no.. and that mopstick whether new or imported from heaven, wasn't supposed to be used for cleaning the inside of a cooking pot. Even if she had to enter inside the pot, what stopped her from wearing a custom made socks? Like using the materials people use in making hand towel to sew some thick socks for herself. She doesn't come off as someone that takes hygiene seriously, and it's a pity that very few people are bothered about it.

We4all:
Does that make what they did right? Keep justifying what is clearly wrong and unhygienic.

We4all:
That is a no..no... That girl needs some proper hygiene orientation. I can't eat food from a pot like that.

xristos:
She can have supports to get accessories and ingredients...but only her is expected to dip spoon into that pot.
But in this case..many hands are inside.
So is it her cooking or a group cooking.

No bias .but if I'm Guinness I wont reward her based on this factor.

otizs:
Everybody just dey suggest evil

emmanuelewumi:
NUPENG can only work if we have small petroleum tankers owners.

Most of them have between one to 5 trailers, so we have group of about 100 tanker owners servicing a petroleum products marketer like Total Energy.

So they will need a union like NUPENG, but in a situation whereby Dangote can afford to buy 4000 in order to ensure smooth running of his business and to prevent third party tanker owners to hold him to ransom. Thereby rendering NUPENG useless in his operations

aalangel:
How can you "un-love" a child after 9 years?
I don't think it's possible.

megawealth01:
NUPENG abeg REST

zendi:
Na waa ! And na pick-up you go use dey carry the loot about, otherwise they go catch you for bank.

mikeapollo:
How true is this? Can someone confirm, before I do something?

mikeapollo:
Thanks.
What about non-Nigerians i.e. foreigners who invest in the NGX?

pluto09:
https://www.thisdaylive.com/2025/09/11/oyedele-savings-from-subsidy-removal-not-enough-to-transform-nigerias-economy/

According to him, “We are not creating another layer of bureaucracy. What we have done is to harmonise identification. If you already have a National Identification Number (NIN) or Bank Verification Number (BVN), you need not worry. These will serve as tax IDs. The objective is simplification, not complication.”

mikeapollo:
So you want all foreign investors to have tax ID's before they invest in Nigeria stocks market?
Let's stop thinking that the NGX is only for Nigerians!
It is this myopic view of successive govts that messes things up in this country.
This issue is not personal because millions of people would be affected. If the NGX crashes due to poorly thought-out policies, you and I would feel it.

Olaide1295:
Omo na wah for you o. The govt has already said no need for TIN if you have NIN.
Your NIN also serves as your Tax ID in 🇳🇬. This takes effect from January.
Your existing TIN remains valid. If you already have one, you do not need to register again. For those without a TIN, you will need your NIN (individuals)

zendi:
Another thing is that the CHN and the CSCS No. will now be joined by TIN to qualify you or Street to transact any thing on the NGX.

Only if you have seen fish escape the fishing net once caught can you or Street hope to evade the Jagabanomic tax net now being spread.

mikeapollo:
That is another angle that could create hiccups.
People living abroad may want to transfer money into their Nigerian bank accounts; so would the accounts be blocked because they don't have Nigerian tax ID? They would likely hold the cash and exchange it at the black market when they arrive Naija.

Agbalowomeri:
Omo dem don begin sweet talk Una. Make we see the impact in the results fess

GeneralDae:
We had a much smaller market and not so much foreign portfolio investors that could easily pull out from holding naira bonds. Civil wars in Africa at the time were more or less the norm than the exception. The world is now more of a global village than it was in 1967.
In light of the above, a civil war then would have hardly had any effect on the naira than a crisis in a small country like Gambia would depreciate their currency today.

megawealth01:
Which currency is stable? $,€,£

They are called currency for a reason. They all make movements

Streetinvestor2:
Was naira stable during the civil war or not.
If na for wahala. It will definitely happen in 2027 but it won't make me do anything to my investment on ngx.Infact I wl use the opportunity to buy some sound stocks I missed..lol

SonofElElyonRet:
No violent riot that won't be put down in Nigeria. This ain't Nepal.

SonofElElyonRet:
If naira appreciates substantially then you lose value

ppogba:
Any organisation that is mentioned as being worse than First Registrar will be sued by First Registrar for claiming it's divine position.

So worse to the extent that they are no longer the registrar for FBNH. I stand to be corrected though. But for my first comment, no apology.