₦airaland Forum

nairalanda1:
Lots of people don't know that...even myself until a few years ago did not know that, until I checked it up.

OK o. I take back that comment then. What annoys me about then current generation though is that all the facts are there through Google, but people argue so ignorantly here.

America is not widely recognized as n oil producer because is almost, if not fully consumes all it produces. So if news is about top 100 oil EXPORTERS, you will likely not find America there.

kenny714433:
After two years, let's not hear another news like "Tinubu plans to remove fuel subsidy". These APC crooks, we can't trust them.


Nigerians go suffer no be small 😂

If it's properly removed, you won't hear such. You hear am for diesel?

Despite the nonsense we read online, petrol subsidy has never been removed in Nigeria before.

At certain times when crude prices crashed, the price of imported petrol was cheaper than our fixed price. But of course it didn't last as crude prices went back up.

Ashawoman82:
oga, USA has the largest reservoir of oil ,they are not oil producing nation at all...it was during the time of Obama that they started storing oil,they believe they oil will soon finish in the world and when it happens, they want to be the one in control of the oil market...go and make proper research, it's not everything u see in Google that u should believe .

I pity your generation if your are this unknowledgeable. America is probably in the top three of oil producing nations in the world. In fact during their shale boom before covid, America was actually the largest producer of crude oil in the world!!

ogaontop:
Even at that bro, going by the official CBN rate the price of fuel in Saudi should be around 287-288 naira with a minimum wage of more than 500,000 naira, what is our minimum wage here?

Then maybe minimum wage should be the issue that you face.

chidiokay:
Can you tell us the postive impact of subsidy removal over kerosene and diesel, asides availability which i suspect is because of low demand .. any progress in that sector.

All those blowing big big grammar then that competitive market will drive prices low, did that happen, , all the savings from diesel & kerosene subsidy where is it

Nigerians are terrible, selfish, inhuman bastards that even the surest economic theory won't work here, that money FG is trying to save on subsidy, they will steal and share it nii.

I expected Tinubu to have approached the fuel subsidy with more consultation or caution, because unlike Diesel & Kerosene, Fuel has no alternative.

where are the cushion effects policy ?? any contingencies plan ??

Which alternative does diesel have? Can a lorry drive with petrol? Can a kerosene stove suddenly use gas?

If you say the person with kerosene stove should go and buy gas cooker then you should go and buy electric car?

dfrost:
HacheNoire you are right on that but 250? That's way too cheap. By my olodo calculations, we are looking at about 550-700 price range.

Indeed, going by the price of diesel. In most countries I've been to, diesel has like a 10 to 20% premium over petrol. So if diesel is now N630, fully deregulated petrol would be circa N550.

If Dangote refinery comes on steam, maybe due to economies of scale and not needing to pay for shipping, we might get N500

I'm the picture below taken in Texas a few days ago, the red is petrol and the green is diesel. The diesel is $3.22

tsdarkside:
i even think if all refineries were workin at full capacity it would still not be enough....
and dont forget surroundin countries that depend on the nigerian market....
their presidents were even at the commisionin of dangote refinery....

You are still thinking?

The owner of the refinery and everybody who knows anything about the sector tells you that Dngote refinery alone is able to meet Nigeria's production and export.

But you are here still thinking it won't be enough.

Then PH refinery is supposed to come on stream. Then Bua is building one in Akw Ibom, but yet you still think that it won't be enough?

Aonkuuse:
nlfpmod

I would love for boko haram to visit him

nairavsdollars:
Sanwo-Olu, that boy-boy you are doing in your first term must stop

It will even increase Now that Tunibu is president! All of Tinubus local political bigwigs like MC Oluomo will find it easier to bully Sanwo Olu

Slurity:
Your head is actually big for nothing. INNOSON motor can be fake or even less in quality but need to be patronised ahead of any other foreign options. Those that drop them for others are enemies of Nigeria. I am a Yoruba guy but you need to take Nigeria above tribalism.

Is your car Innoson? If you don't have a car yet, will your first car be Inosson?

I rest my case!

Redoil:
dangote has being having access to cheap and affordable foreign exchange straight from the CBN and Federal government combine.

you can not go to the bank and ask for loans to boost your business

give such support to any industrialist especially from the eastern part of nigeria will still achieve thesame or better result.

i want to use this medium to beg the CBN to give such assistance to every industrialist including farmars

All the intervention funds CBN has been giving farmers n ko?

They should quickly concession the road, alongside others, so that we can have confidence that they will be well maintained.

We should be able to drive from Lagos to Enugu on 100% smooth road.

virginboy1:
I thought it has been Opened and commission ed before.

Well I just dey imagine the kind money dem use this bridge name to loot.

I no trust this government one bit

If you read the news properly ,instead of just consuming headlines on social media, you'll know that the bridge was just opened at Christmas to allow for easier flow of traffic and then was shut after Xmas to allow for it's completion.

odi1278:
You must be a joker… $7bn? You must be having a laugh… I don’t know how Nigerians cannot just think.

.

Considering that we are in Nigeria, I can understand your skepticism,however I would appreciate you temper your insults. You are not the only intellectual on this platform. Unfortunately,too many Nigerians think they are the best thing since sliced bread, not knowing what they think they know 100% is only 20% of the subject matter.

While I find it hard to believe, my comment was to get your mind thinking a bit wider from the narrow, pessimistic view you have.

Dangotes cement paid N340bln in dividends in 2023. If Dangote owns 70% of that then over the last 3 years he might have earned circa N720bln which is almost $2bln.

Dangotes could have raised equity to replace high interest debt. I recall Femi Otedola invested large when he sold Forte oil a few years back. That could be another $1bln from Otedola and co.

If a bank like AFREXIM or other multilateral investors invested, he could have got a few billion dollars to pay down the debt further.

The Point is that there many deals that could have been executed to pay down the debt. It's also possible the numbers emefiele quoted are not quite right, but if you take that information as 50% right and 50% wrong, the 50% right part is not absolutely undoable!!

Jnkay:
Just like cement that was #800 before Dangote opened cement factory is now #4500 to #5000? My dear brother sorry to tell you the honest truth, fuel will be more costlier when Dangote crude oil refinery starts operation.

Calm down. A lot of that is due to naira devaluation and Nigeria's poor infrastructure and business environment.

So iphone that was N400k 4years ago and now N1.2mln na Dangote?

Car that was N7mln 5 years ago and now N18mln na Dangotes?

Diesel that was N250 1 year ago and now N700 na Dangote?

odi1278:
How is it possible that a project that hasn’t commenced revenue generation has paid back almost 70% of the loan. Please use your church mind na… God give you brain to be able to reason.

He can repay that loan from cash flow from other business like dangote cement, sugar, salt and fertilizer. Dangotes personal dividend from those companies will be hundreds of billions of Naira per year. And I'm sure he's paying back at official exchange rate, not black market.

Parachoko:
Pandorians no go happy because of this news

Subsidy will likely be remove after Dangote Refinery fully start operation in late July.

I see fuel selling between #300 and #500.

In 5-10 years time, the price will likely fall when we have other modular and large refineries operating.

More like N500 based on current price of crude and our exchange rate. Modular and even a revamped port Harcourt refinery won't on their own bring down the price of what we pay in Naira if crude oil is $100 and our exchange rate is $/N1000

dyera:
Refinery the govt could have been the one to borrow money to build, then the $20b yearly revenue would belong to the entire country. But no thanks to the useless govt we have that borrowed $71b (N33tr) for projects that yield no return, only 20% of the revenue from the refinery goes to the country, the rest will be shared by Dangote and the cabal.

You're assuming that if the government actually borrows that 20 billion, that they would actually have spent it to execute this refinery project. You and I both know that if the government had borrowed that 20 billion, more than half of it would have been stolen and the refinery would never have seen the light of day.

You should know by now that the Nigerian government is hopefully terrible when it comes to executing complex projects. Even basic processes like routinely clearing our gutters canals and waterways to ensure that we don't have flooding is a problem.

Islie:
A head of Monday’s inauguration of Asiwaju Bola Ahmed Tinubu as the 16th president of the Federal Republic of Nigeria, experts and stakeholders in critical…






https://dailytrust.com/6-top-sectors-awaiting-tinubus-magic-wand/

Last I saw, diesel is N630 in Lagos!! Not sure of the N800 you are quoting

LesbianBoy:
Did anyone hear dangote say he got support from the government. This is why I don't see him as the richest african man. Person wey any government in power dey support ONLY him, why won't he be that rich. This is why Igbos still remain the richest in Nigeria.

Even with all the marginalization dem still rich, now imagine if government support them like they do to dangote, that means an igbo man will be richer than Elon musk

Do you think Microsoft, Ford, GM, Boeing and co don't receive government support from the US government?

The important thing is that is the refinery 100% complete? Is it actually receiving crude and is it actually producing petrol and diesel and the like?
That's what we want to know.

Fira09:
SOURCE

Lauren has put her hands in Jeff's head and messed with it a little bit. Looks like Jeff got the most mind blowing sex ever from Lauren that he didn't get from his ex wife and didn't know existed.

Since Jeff started dating Lauren, he has started showing off a bit more and spending his money more.

I hope the Lauren babe won't finish Jeff totally.

SwissMass:
All politicians are the same, this Osinbajo too pretending to be good but harbor bitterness and hatred in him

Which hatred and bitterness! Give me one example. Because he had a desire to be President? Did Nigerians agree it had to be Tinubu or no one else? Why should a qualified human being not aspire to a bigger position. Kamala Harris contested the nomination against Biden, but is today the VP. No bitterness.

NTA should be incorporated and made to stand on its own. If it doesn't make sufficient revenues to pay it's salaries and run its operations, then so be it. It either reduces staff, increases revenue or close down.

If Channels, Arise, TVC are operating with no government help, why not NTA

Tianamen1:
let the refineries operate fully for 6 months before subsidies are removed.

If Dangote refineries production meets and even exceeds Nigeria's needs, why waiting for the FG refineries to be fixed again?

It's like once a milestone is met, people will move to the next one to elongate the process again.

Ikaeniyan0:
What can the Buhari administration point at that it has achieve sef?

The only area I will score Buhari high is in the 2023 Presidential Election

Buhari has totally failed Nigerians.

Power supply is still poor, Insecurity have gotten out of hand, cost of living have skyrocket, inflation rate is very high etc and you will see Buhari doing as if everything is fine.

Power supply is actually much better in the last year, but maybe it's not widespread.

lexylaw40:
there's a plan to build a railway link to the port already

Plans in Nigeria take like 50 years
Mambilla hydro plant
Ajaokuta steel mill
Zungeru hydro plant

Okealaaye:
Falz is an activist by association, the same way his father was an activist just by associating with NBA President Alao Aka-Basorun, Gani Fawehinmi and Beko Ransome-Kuti in those days. Activism isn't deep down in his soul - you can discern this by merely observing his mien. At least, only fools who see Falz as an invaluable ally would put him in the same class with Sowore, Seun Kuti and to a higher degree, Mazi Nnamdi Kanu.

Kanu is a terrorist not an activist!

NinjaMetahuman:
oga Ade stop spreading ignorance.

Electric vehicle sales are on massive increase in the USA

From 0.01% in 2012 that first Tesla was introduced, it has increased to over 5 percent in 2022.

The reason it's not been more than that is because uneducated folks who still love their big gas guslers in red states and because electric vehicles are still very expensive compared to gas alternative.

He is still correct. What you are saying is 5.6% of EV sales in 2022 ALONE!!! Are all the cars in America today purchased just this year!? Are all cars passenger cars!? If you go on a road trip in America, you'll see that the number of tankers and trucks and other commercial vehicles on American roads is almost competing with passenger vehicles.

Slow down and rationalize first.

Minjim:
N17 reduction from where?
From this current subsidy rate of N185/litres or the anticipated subsidy remover amount of N700?

Anything less than N150 is not acceptable. We can't be refining locally and still be buying over N150

Story!!

ExAngel007:
A young Nigerian man who says he is a member of the National Youth Service Corps, has cried out.

The corps member said he is tired of the mandatory national youth service programme as he is struggling with food.



https://www./nysconlinecommunity/permalink/5846226765487674/?mibextid=Nif5oz

he wrote in a Facebook post on Friday, April 28.

Honestly, if we cannot afford the damned thing, Nigeria should just scrap it!! So this country cannot adequately feed 400k people for 3 weeks three times per year.

silvoclaira:
There was no need for this government getting additional loan weeks to its exit. It was better left for the incoming administration to handle it.

or maybe dont borrow at all!!?