₦airaland Forum

I see Dangote's refinery as a great economic asset to the nation that will potentially play a role in reducing inflation in the country and ultimately the cost of living.


https://www.youtube.com/watch?v=XNT00HkgtB4&ab_channel=EducatedAfrican

Nigeria's economic challenges would be the cause. Inflation certainly doesn't help matters..


https://www.youtube.com/watch?v=XNT00HkgtB4&ab_channel=EducatedAfrican

At around 28% currently, Nigeria's inflation is very high.. Yet inflation keeps increasing thanks to the naira float and our subpar production.. I wonder when the cost of living will stabilize


https://www.youtube.com/watch?v=XNT00HkgtB4&ab_channel=EducatedAfrican

990..

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At around 28% currently, Nigeria's inflation is very high.. Yet inflation keeps increasing thanks to the naira float and our subpar production.. I wonder when the cost of living will stabilize


https://www.youtube.com/watch?v=XNT00HkgtB4&ab_channel=EducatedAfrican

At around 28% currently, Nigeria's inflation is very high.. Yet inflation keeps increasing thanks to the naira float and our subpar production.. I wonder when the cost of living will stabilize


https://www.youtube.com/watch?v=XNT00HkgtB4&ab_channel=EducatedAfrican

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nairalanda1:
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No it was not. Subsidy was an ultimately misguided plan to keep fuel prices cheap for the poor. It did not work because it fouled up the profit making ability of the petroleum sector, and messed it up to the point that we lost domestic refining, and ended up with large deficits.

If there was no subsidy or if it had been removed since...we would have had domestic refining, been exporting oil to every country in west africa for profit, and we would have had more and more jobs.

Your problem is you think that business people earn money to put in their pockets. They have tax to pay, staff to pay,etc.

A lot of the profits resulting from the removal of subsidy are going to salaries to pay...ordinary Nigerians like you and me.





If you were running a business, would you sell at a loss, so that you could help the poor?

You won't , so why expect that from the oil sector. ? We lost four refineries, and got years of corruption and mismanagement because of trying to sell cheap fuel to help the poor.

Anyway, whoever you voted, they would still have removed subsidy. If we kept the subsidy, its cost would have been 14 trillion this year. Our budget is 20 trillion. That 14 trillion would have come from our budget...leaving a hole that needs to be filled...by loans.

And as things stand, we cannot take any more loans right now. DMO is shouting that we are all loaned up, and the IMF is looking at us one kind.

I beg to differ. If subsidy continued lets say when Dangote started to produce from his refinery he could still make profit. All that would happen is that Dangote would charge his price, the price he would be profitable, for his fuel to NNPC. The NNPC would pay that price then sell the fuel at the subsidized rate(unprofitable price) price to Nigerians. The NNPC would then ask for the government to give them their losses or the subsidy payment.

But then again I could be wrong since those refineries were state-owned, different dynamics could be at play.

Flets:
For anyone that cares to know, fuel will sell above 1USD in the parallel market naira equivalent at every given time.

When the products ordered arrives, pms will sell for more than 750. Don’t argue….. just observe

Suffering Dey come

Why do you say this?