₦airaland Forum

Story!!!

Nigeria news is always future tense "I will...", "I propose to....". Never "I have....", "We have commissioned".

Brainless people.

Probably a former militant. Or does oil bunkering. Or fronting for someone in government.

And from the first picture, we can see where all our police men are.

Someone should audit the busses in 2020 and let's see what state they are in. Aa

I think that area is a bit overrated. But anyway it makes sense to buy land there as an investment, but I certainly would think twice about building there. If I were working in dangote refinery, it doesn't mean I want to go and live in the middle of nowhere. I'd rather live around Lbs, with access to good schools, modern amenities.

4g LTE in Nigeria is slower than 3G in other climes. My Smile 4G Lte at best does 8mbps and its not at all consistent, while whenever I'm out of the country 4g lte does 12mbps that is very consistent.

I've always heard this issue about MTN 'illegally' transferring money out of Nigeria, but I've never heard it explained anywhere exactly what that means. Last I checked, foreign companies operating in Nigeria are free to repatriate profits to their home country, so I've never quite understood where the illegalitg comes from.

looking more like Nicky Minaj

okerekeikpo:
They never see anything, Nigeria is worst under Buhari and we are not even complaining. Buhari is a failure

Don't be silly. How is Nigeria worse than Venezuela? Use the Google on your phone to find out about Venezuela.

That's what happens to countries that spend all their money subsidizing petrol to ridiculously low prices instead on investing in infrastructure and the people.

Whenever Nigerian government wants to remove subsidy, most people say the government is useless and they should go and see how low petrol prices are in Venezuela. Shey na im be that na!!!

evexx1:
Same way South Africans can't live without Nigerians.
Nigeria alone is DSTV's biggest market.
Imagine if dstv gets kicked out of Naija?

I won't miss dstv- overpriced bullshit!

DSTV premium is Zar735 in SA which is N22k!! So how is it over priced?? Use Google small na.

Gerrard59:
Why should it be the same when the cost of operations is bigger in Nigeria than SA? Why should it be the same when the rights to shows, channels and programs are bought in dollars using revenues obtained in naira as opposed to rand? Why should it be the same when the technologies used is imported as against locally sourced?

Don't mind them!! Funny enough I've checked the SA dstv site and the prices aren't very different.

Same way we Naija people say internet abroad is so cheap. The reality is that internet in Nigeria on the GSM platform is just as cheap if not cheaper than what you have in UK. Speed might be slower here, but that's another issue.

https://www.vodafone.co.uk/index.htm?mboxSession=6609f68e507448a999a4c8c9c4ef9101

For eg check the link above. Voda phone is offering 20GB for £20 which equates for about N10k. Some providers here offer more Gb for N10.


http://www.ipnxnigeria.net/products/fos-3af084bf-7adc-41dd-830f-69e64e363867

Ipnx offers 40Gb for N10.5k at 20 Mbps 'guaranteed' over Fibre optic.


Same way we make it seem like education is free in UK. While that might be true for primary and secondary, at university level even UK students pay about £10k.

Is that Omoni Oboli on his right?

What exactly does the guy do?

BTT:
Edited.

No. This is wrong information.

Most importantly, what we need is a refining vessel. That is what our mediocre leaders should focus on.

Can't the government legislate that our oil multinational and trading countries have (at least) one refinery HERE in Nigeria as one of the prerequisites for doing business?

We must solve this refinery embarrassment.

That is actually a brilliant idea!! Why not have a floating refinery? Could of possibly be cheaper than a land based one?

On second thought, it would very likely be much expensive. FPSOs and floating LNG only make sense because the resources the are after are in deep water.

Fhemmmy:

Awesome stuff!! I need to start saving. Make dollar stable for 2018 o!!

Waste of money!!

Brimmie:
I still don't understand why they all use Eko Hotel??

Is it that we don't have a bigger and more secured Event Center in Lagos??

Simple answer, No!!

I wonder if we all notice that they are paying Toll o!!

[quote author=chronique post=63624949][/quote]Of course I know that. It doesn't change the fact that the PMS output from a 650k barrel a day refinery will be sufficient for our needs.

modik:
I'm surprised to hear that "there is anything like fuel subsidy at all"

APC told us that fuel subsidy is a scam, that there is nothing like it. What has changed?

That was propaganda to win an election. Same way we all exaggerate at interviews to get the job. Let's stop being fixated on that.

modik:
Moral of the story :

He who watches from the sidelines plays better and smarter than the real player in the field, till the ball is headed over to him and he becomes DAZED!

ONE CHANCE!

True, but the guy contested 3 times. Abi na 4. Didn't he have any economic strategy he wanted to come and implement. The guy fall hand no be small. Totally clueless on what he was focused on achieving in government. The mumu thought govt was by fiat and order.

Yankee101:
Oil prices have not changed significantly in the last few weeks.

Yet oil subsidy has changed dangerously in just a few days.

Election monies are being accumulated. God is watching us all in 3D Extraplex.

Contracts for supply of pms from refineries are entered into in advance. You don't just take a ship to a refinery and say you want to buy petrol today This is not buying indomie from the aboki across the street!!!

So if takes some time for the swings in crude prices to reflect in the prices if petroleum products we see in Nigeria.

If you notice, there was some lag between crude prices going back up to when diesel prices started going back up here from N160 a few months ago to N200 now.

9jakohai:
Whoever you vote....he or she is going to meet the import price of fuel at N171....and he or she is going to have a choice

1.Continue with N145 or go to N87 and waste millions on subsidy....

2.Or deregulate...yes people will pay N200 and above, but eventually investment and competition will bring prices down.

But you people want cheap fuel....even at the expense of the jobs of nigerians in the petrol sector.

GEJ tried...you people protested....so we went back to a bad policy to keep people like you happy. Now...oil is at $65...we need it at $123 to afford your subsidy

Here is why we should deregulate. The diagram below was made in 2015...

Now this is someone who obviously really went to school and understands economics. Not the majority of half baked people who comment up and down but have no clue about how things work.

Like I always say, you can't cheat the simple laws of economics.

obicentlis:
Buhari is seriously at the cross road now on what to do.

If he finally deregulates the downstream sector, all of hailers will migrate to wailers.

If he continues with this secret subsidies, he will eat his vomit and a lot of people will come for him.


If he increases the pump price, that's the end of his govt because a lot of hailers will migrate to wailers.


In short, I pity Buhari. He caused his problems by over promises and over hyping by his followers, which I was.

The silly guy should have deregulated when crude oil was $30. We would have got used to the weekly price movement by now. And there would have been time for people to get it out of their system before the next elections. Now the guy is between a rock and a hard place. If he tries it now, the backlash will play into the hands of the PDP, who have suddenly found their voice.

Poor strategy from largely illiterate people in government.

chronique:
How many barrels a day, would dagote's refinery produce, to stop importation of fuel? Why do we just have fools at the helm of affairs?

About 650,000 barrels a day, which is double entire existing capacity of 4 refineries. And yes it should meet the entire national requirement.

Seems you are the f--l for not being informed of what is in the public domain. Read the papers and watch channels news once in a while dude!

PapaBrowne:
Because Dangote is building a refinery, you guys are having mouth.

Isn’t it a terrible shame that you guys(a whole federal government) cannot even repair a single refinery and yet one individual can build a whole refinery with his hard earned money.

This is the worst government in Nigeria’s history. They have nothing to show for 3 years of misrule so they look for things others have done and begin to lay claim. When they feel Dangote is not thier friend, EFCC will suddenly remember that his refinery was built on fraud or forgery or some other thing they can’t explain.

I'm not aware that the American or British governments own and /or directly operate any refinery. So yes, there is nothing wrong with dangote going into that space. The only issue is that there is no competition, but then we have given many people refinery license before dangote, but they all wanted to be lifting crude and make easy money. Not really to build a refinery. So whose fault?

authenticman:
@ the bolded, so if the marketers made above normal gains during period of lower crude price, good conscience demands that they accept the current price pending when we have full deregulation.

Who does business based on conscience? When profits are to be made, you do business. The moment business stops being profitable, you close it down. That's the reality.

Despite all the disparaging of Buhari in the comments above, the truth of the matter is that THE ONLY WAY we can have long term security of supply of PMS is for the thing to be FULLY DEREGULATED. It's a choice we have refused to implement as a nation from time immemorial, so blaming Buhari for it makes no sense. The truth is we had more fuel shortages under Jonathan and Obasanajo than we have had under Buhari.

In our hearts we also know the truth as citizens, but we prefer to put our head in the sand thinking that by some magic and fiat, government can keep the price stable even when crude prices are rising! And also without incurring subsidy? Impossible. No one can cheat the basic laws of economics. Our case is like that of calling a cow "Bros" so we can eat meat!

The government also knows the truth, but for the sake of politics and votes, they are afraid to do the right thing. The smart thing to have done when doing the silly price modulation was to have done full deregulation. At that time crude prices were USD30 and we could have used all this time to let the deregulation sink in. By now we'd have been used to it.

It makes far more economic sense to deregulated fully, remove inefficiencies, profiteering etc and rather pay an extra transport allowance to workers and work to improve transportation efficiencies.

And for those who shout about the additional difficulties that deregulated petrol will cause, in my view those are exaggerated. Food comes to the cities via trucks that use diesel, so no real impact. Yes transportation within cities are done mostly via petrol cars, but government could have a 5 year program to swap these for LPG powered cars which cost much less to operate daily. For the masses to we often say petrol will make them worse off. In my view also exaggerated cos most of the village folk use kerosene much more, which is also deregulated. For me a simple solution to help them would be to encourage use of gas. Because kerosene is all they know, no one has done the research and come to the conclusion that perhaps gas is a cheaper alternative. All they need is the upfront burner and small student cylinder of N10k

I suspect though that government thought it could ride the wave of low crude prices till Dangotes refinery was operational. Whether or not dangotes can operate the refinery at a profit selling petrol at N145 with crude prices at the current level remains to be seen. One key cost component - labour- will be priced in Naira and not subject to exchange rate etc, which will help with price stability, but the crude stock will always be benchmark against the USD price, even if he has to pay the naira equivalent for it.

Hello. I've been a bit fixated on the 2016/17 Lexus ES 350 for some time now, with a 2018 purchase. What's the pricing like please?

gocac:
This would be the death sentence of Buhari's 2019 ambition.
Should there be 1naira hike in fuel pump price,
Then it is over and out for the APC led government.

Because, even the APC members themselves will cry like a baby, at the filling station.
For me i will not cry, because i have always know that this government is useless to me and my likes.

You can't cheat the laws of economics. If economics dictates that N145 is no longer economical based on the price of crude, then not much can change that - except we want to acknowledge that we will be subsidizing. The smart thing to do would have even to deregulate when the rude prices were so low. But the politicians who had just got into government were too scared to do so. That is the only solution. Dangotes refinery may make the price per litre a bit cheaper because at least his Labour cost will be in naira, and all transportation will also go out of the equation. but if crude prices should ever go to say usd 100, even he might not be able to break even at N145.

The only way forward is to deregulated the damned thing.