₦airaland Forum

Most people will not call this a massive crowd.

Look at the gaps to the front and rear of the photograph.

Same with APC campaign posters on nairaland. They label every crowd as massive, even if most don't have more than 500 people.

Do PDP and APC really believe readers are deceived when they can clearly see the truth.

zhike:
Nigerians must now stop with their terrorism act to our south african businesses such as mtn, dstv, Stanbic, etc

'Terrorism act' against South African businesses

What a cheek.

No company is terrorised.

Stanbic is a 2nd tier bank here. It is not competing with the big boys.

DSTV is in a sector that is in a negative death spiral.

If these 2 are struggling, it is purely a commercial matter.

michoim:
The Demonic, manipulative NNPC...Good for nothing organisation

This is not NNPC's fault.

If you want to buy a load of pure water from a pure water producer, and the producer says he will only sell to you if you are prepared to be the sole buyer of all pure water he produces now and in the future, will you not take a step back?

A manufacturer can't force you to be the sole buyer of everything it produces.

I suspect Mr Dangote's price is higher than even what NNPC filling stationa are selling at now. He wants NNPCL to be the sole buyer so that government can pay him the subsidy.

tunjilana:
The answer is simple. His petrol doesnt seem to be cheaper than imported ones and except government buys it and sell to citizens while taking care of the difference

If Mr Dangote's petrol is not cheaper than imported petrol, we might as well continue with imports.

Okada men and drivers generally will prefer a cheaper imported fuel than an expensive locally produced petrol.

Mr Dangote should channel his petrol to the foreign market if he can find buyers at the more expensive price. But Nigeria must stop selling crude oil to him in naira if he is going to sell abroad in dollars.

It just seems Mr Dangote put all his energy into building a refinery without working out where the crude oil will come from or how he will sell his final output.

baralatie:
The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than that of the international market.

Good decision by NNPCL.

Why should okada man and ordinary drivers be forced to pay more for Nigerian-produced petrol if they can access imported petrol at a cheaper price.

Thank God the government did not agree to stop import of fuel.

Why should Dangote refinery be trying to force NNPC to be the sole buyer.

If Kenya wants to buy from Dangote, will the refinery refuse to sell to Kenya unless Kenyan government agrees to be the sole buyer of all petrol that the refinery produces for ever?

What kind of thing is this.

NNPC is also right to say it will not buy from the refinery if it can buy cheaper abroad.

Why should we pay more to buy petrol from a Nigerian producer if we can import it cheaper.

All of this despite the fact we are even selling crude to him in naira.

Nice thought, as it would potentially strengthen the naira.

But West African countries will need to hold naira, instead of dollars and Euros. Many of them will not want to do so. Naira is of no use to them.

And petrol is available from many sources around the world, so Nigeria cannot insist on naira, otherwise they'll buy from other sources.

emy9:
NNPCL being the sole purchaser of any petrol refined from Dangote's refinery should state the price they will sell the product to Nigerians. Dangote did not ask them to be the sole buyer, it's the FG through the NNPCL that said so. Don't put this on Dangote.

But NNPCL has now clarified that they will not be the sole buyer.

It was Mr Dangote that announced that NNPCL would be the sole buyer. NNPCL never said it.

Now that they have clarified that they will not be sole buyer, it means NNPCL will buy at the same price as other buyers.

The ball is now in Mr Dangote's Court to announce his price. Same way as he did for diesel.

Unless something changes it also means that we are witnessing the final end of subsidy.

The only thing I think NNPCL and the government will do now is intervene if they believe Mr Dangote's price is factoring in too much profit for the refinery.

The only reason that they can do that is because they made a concession to sell the crude to the refinery in naira.

But if Mr Dangote refuses to back, it is difficult to see what the government can do.

If the government refuses to subsidise, then we don enter am be that.

MrBrownJay1:
they are already planning to sell Dangote's cheaper at higher price and STILL make a killing.

the above is called... PUTTING VASELINE BEFORE THEY RAPED YOU AGAIN!!!

I don't think so.

I think what is happening is that NNPC wants Dangote to announce its price by itself.

NNPC will buy at that price and sell to the public.

And if other buyers can also buy directly from Dangote, as the NNPC has now said, then no one can blame NNPC for pricing.

Mr Dangote will not like this as whatever price he announces will not please the public.

Actually I think many of us read it all wrong.

It was Mr Dangote that announced that NNPC would be the sole off taker.

At no time did NNPC itself announce it.

But my question to NNPC is this? If MURIC had not raised the issue, NNPC would have kept quiet and not corrected Mr Dangote's statement?

I think the federal government and NNPC want Dangote to take responsibility for announcing the price of its product.

That way the public will blame Dangote, not the government for the price.

Throwback:
I did not want to believe I was reading a Kperogi topic.

Terrible misinformation all round.

He is a Northern supremacist.

Nothing more.

NNPC bought OVH from 3 joint venture partners, one of which was Oando.

So, OVH was never owned by Oando alone.

Having bought OVH filling stations, NNPC then merged it's own existing filling stations (NNPC retail) with OVH and decided to call the combined businesses OVH.

Where is the controversy here.

You just needlessly and mischievously sprinkled your usual biased article with Mr Tinubu and Oando's names to deceive your naive readers that somehow they were involved in dirty transactions.

NNPC bought OVH about 2 or 3 years ago. Oando no longer has anything to do with OVH since then.

Your claim that the Tinubus own Oando is also legally false. Oando is owned by its thousands of shareholders who are ordinary everyday Nigerians- including teachers, nurses, bricklayers, lawyers etc. Are these people Tinubu family members? With just N5000 any one can buy Oando shares and also become a co-owner of Oando.

Mr Kperogi, you can only deceive people who lack knowledge.

We remember how you used to dance around and avoid direct criticism of Mr Buhari during his 8 years in office.

You can't tolerate a Southern president that you can't control. That's what this is all about.

By the way, you wrote then that your mates inside Aso Rock had assured you Mr Tinubu would never win the APC primaries or be allowed to become President. What eventually happened?

Max24:
The Messaih that cannot save a State want to save a country. Dey play ! How come Obi can't apply all those his Egypt and Dubai and Kigali theories he talked about at Chattam House to help Otti ? Does anyone remember how many times he went to Chattam House? Obi, please help Otti now.

You people are wicked o

Me sef have forgotten about these trips, particularly the one to Egypt when Mr Obi famously claimed to have learned the ways to transform Nigeria's electricity after just a few days in Egypt.

I am surprised Mr Obi, as a loyal citizen, has still not published what he learnt in Egypt so that the government he criticises so much can learn from it. Or is he waiting to use the knowledge only if he becomes President.

May be he has passed the magical information to Aso Rock secretly because electricity in my area has improved significantly in my area.

Finally an intelligent thesis that mirrors what I have been saying all this while on Nairaland.

Any Presidential candidate that promises you things will be honky dory under him and petrol will be cheap, electricity will be constant, prices of goods will suddenly be cheap is living in cloud coockoo land.

You can not keep borrowing to live a middle class lifestyle when you are on minimum wage. Eventually your debts will catch up with you and you will go bankrupt and lose everything.

Over the past decades, Nigerian governments spent more than the country was earning, subsidising this and that, in order to keep the people happy. Those past Presidents feared being unpopular and so gave people what they wanted knowing fully well it was financial poison that future generations will pay for dearly.

Nigerians have got used to things being artificially cheap due to subsidy (education, petrol, electricity etc) that when a new President comes in and say the country will head for the rocks unless we change things now, Nigerians say he is the worst President ever.

Niger Republic, Ghana, and other neighbouring countries buy petrol at around N1300 per litre. But Nigerians want it at N300 or less

Given that both Ghana and Niger Republic also produce crude oil, what is so unique about Nigerians that makes Nigerians feel so entitled to super cheap petrol?

Unfortunately 99% of Nigerians, including the educated ones, just don't understand economics at the level of a currently poor country like Nigeria.

MadPolitician:
If the federal government over favoured Lagos over the years, now that ethnic mutants at Aluasa are desperately trying to turn Lagos into an ethnic capital, rather than the federal economic capital, the federal government should quickly take decisive steps post tinubu, to open other areas of the country for rapid economic development to help diversify the economy while confronting poverty.

Lagos is not the 'Federal Economic Capital'.

There is no such concept under the constitution of Nigeria.

Lagos is a State, like the other 35 states. It has its indigenous people and language long before Nigeria existed and will continue to do so.

Colonial administrators made Lagos capital because it had unique qualities at the time and Nigeria benefited from and continues to benefit from Lagos.

Many would argue that Nigeria has benefited more from Lagos over the decades than it ever invested in Lagos.

That said, Lagos, like any other city remains open for business and as a residence for all peoples.

okeyley:
So why is the license does not include PMS, for a petrochemical plant not to produce an essential commodity like petrol says alot

This is to tell you that our leaders does not want our good as a people

Nothing to do with government.

Modular refineries do not have the technology to produce petrol and most petrochemicals.

They are too small.

Nigeria - big, strong, and powerful.

China measures the extent of it ceremonial welcome very carefully.

This level of welcome is reserved for governments it holds in the highest regard.

Foreign countries and institutions are not stupid. They know Mr Tinubu's economic reforms are the key to turbo charging this giant called Nigeria.

Removal of subsidy has been welcome by IMF, World Bank, UK, Europe, and most countries.

In the past they wondered how a country that needed infrastructure and development so desperately could be borrowing heavily to pay fuel subsidy. They looked at us from afar and shook their heads in silence, thinking, how stupid!

Did anyone notice that during the recent protests ambassadors of European countries in Nigeria issued a statement saying the government's reforms were necessary. It is very rare for these countries to intervene directly and openly like that to support an African government.

Nigerians, please let us remove this corrosive subsidy pata pata so the money can go into other areas.

In the past 10 years, this last 2 months have been the period when I have spent the least to fuel my generator. And I am not even in Band A. It means electricity is improving. Other things will improve too in due course.

Let's persevere in the short term, and I hope the government can find quick, effective ways to help those that are most affected by the current hardship.

This is our opportunity to make changes that previous government should have made. We must not waste this opportunity.

The reason other Presidents did not make these changes was because they knew they would be very unpopular. Mr Tinubu knows this too, but he is putting the interest of the country first. He has said if he is not re-elected, he doesn't mind as long as these essential changes are made.

What more can you ask of a leader?

Nigeria's debt profile

Local debt - 100 Trillion naira

Foreign debt - 100 billion dollars

We don't even know how we are going to pay these debts.

If the government continues subsidy the way you are suggesting, that debt will go up exponentially and naira's value will heads towards N2000, which will in turn increase fuel price, and further increase subsidy.

You can see there will be no end to the spiral of high petrol prices, which will lead to higher subsidy payment, which will lead to more debt, which will lead to even higher exchange rate, which will lead to higher prices of goods and condemn the country to a permanent economic malaise.

Knowing the above, do you still want that subsidy?

Or do you think we should stop subsidy, take the short term pain (2 years or so), tighten our belt, start paying back our debts, improve naira's exchange rate, which will lead to reduction of prices of goods.

Which one do you want sir.

Wallade:
It is not subsidy, It is a bridging fund packaged by Petroleum Equalization Fund (PEF) payable to Petroleum Marketers for supplies across states based on an approved templates of cost

I think PEF was merged with NMDPRA.

Still a subsidy.

victorDanladi:
I don't know why ADENUGA couldn't build his own.

Refining is actually a low margin business. It is not highly profitable.

If you have too many refineries in Nigeria, you end up with overcapacity, and they all become loss - making. Refineries are closing down in Europe.

Mr Dangote deserves praise for dabbling it.

Most super rich people will never dabble into refning business.

There are far more profitable businesses to invest in.

Wallade:
The whole confusion about the pricing and Dangote Refinery's ex-Depot price is amusing and frustrating to me. Dangote Refinery is quick to do publicity and fanfare on the production of PMS; the story was all over the media but Dangote Refinery refused to communicate their ExDepot price per litre of PMS to the public. Isn't that ridiculous?

The partnership between Dangote refinery and the government/NNPC is a forced partnership. Forced by circumstances.

Neither party wants to be in this relationship, but they have no choice. For now.

You're right that Mr Dangote has been trying to appear like the good guy while also trying not to ruffle the NNPC/government. For now.

You will note how in his recent interview, Mr Dangote rejected responsibility for the pricing of his own product. He said he has nothing to do with the pricing. Have you ever seen anything like that? You produce something, and then wash your hands off the price. That is because he knows price is too hot a topic right now and he doesn't want to incur the wrath of angry Nigerians.

Ofcourse he know his price.

Neither the government or Mr Dangote wants to be seen as the party responsible for the high price to be announced.

Mr Dangote will know within him that whatever price NNPC/the government finally announces will cause a huge outcry. And we know Nigerians will spend every minute of every day of every week over the next few months trying to identify how much the government buys fuel from Dangote.

Before you know it, the government in an attempt to shift the blame, will secretly reveal the price to one or two people in the media.

The price will be splashed all over the media. Arise TV will love every second and minute of the blame game that follows. It means more money for them.

Dangote will fight back, deploy resources (ie money) to his own boys in the media to say that the government sold crude oil to him at a high price.

The blame game will continue for a while with Arise TV bringing on trailer loads of qualified and unqualified 'experts' in order to ensure they pour more fuel into the controversy so that Arise can exploit the ongoing controversy to the fullest.

In the end, Nigerians will accept the price and move on to another issue, most likely, another online tribal war

Final score: Dangote wins. NNPC wins. Arise TV wins.

If you don't already know all this, ie how the rich people and government manipulate Nigerians, ah well.

nwirinedu:
Prices cannot be the same across the nation because of distance, but what dyu you care . I find the statement on greedy middle men ludicrous.

What would you call the current supplier and his partner, judging from their antecedents?

I used the word 'similar', not 'same'.

Prices cannot be same across a vast country like Nigeria particularly if you're transporting the petrol by lorries instead of through pipelines.

Petrol sold in the Norther states used to get a special subsidy to ensure their fuel prices are similar to what obtains in the South.

I believe Mr Buhari stopped that special payments several years ago. I stand to be corrected.

I would personally support if the government considers measures to ensure that people further up the coast don't have to pay significantly more for petrol. However, any special payment/subsidy specifically for this purpose will be abused and turn into another monster.

The best approach would be to transport the fuel by pipelines. But we know what will happen to the pipeline!

Honestly, Nigeria is mostly ungovernable.

Obvious solutions that work in all other countries simply don't work here.

nwirinedu:
You ve not addressed anything, here, we have major petroleum distributors in Nigeria why cant Dangote deal with them directly, why do they have to pass through an agency with a proven record of mismanagement and corruption.
.

NNPC only increased its price a couple of days ago, yet for several months petrol have been sold at between N650 and N1000 in the country even though the wholesalers bought from the NNPC at the same price.

So, what is the justification for the huge difference in retail price? Greed, price manipulation, and exploitation of ordinary people by the evil machinations of wholesalers and filling stations.

You prefer for the greedy middle men to be allowed to continue their manipulation?

We need a new approach.

If NNPC is the sole primary wholesaler from Dangote, thus allowing NNPC to cut out greedy, uncontrollable middlemen, then all filling stations can buy directly from NNPC AT THE SAME PRICE. No more middle men (secondary wholesalers).

It would then be difficult for a filling station in Egbeda to sell at N900, while another station in Maryland sells at N700. Right now, their justification is, well we bought from the wholesalers (middlemen) at so so price, so what can we do. Well, let's remove those wholesalers and see if any filling station can sell at N200 or N300 per litre more than another filling station in the same town who bought from the NNPC at the same price as him.

If the new model works well, prices should become similar in all stations. That will give consumers certainty, and exterminate greedy tendencies.

nwirinedu:
What he conveniently left out is that not just anyone can goto dangote refinery to buy PMS. Dangote sells exclusively to NNPCL.

NNPC being the sole primary wholesaler may actually be a good thing.

It could herald more transparency.

1. Because it is such a modern production facility, Dangote refinery will know on a per second basis the quantity of fuel loaded by NNPC, and Mr Dangote has said the figures will be reported. This is good because if you have NNPC and other wholesalers loading, NNPC can use their usual magomago to hide their own loading figures.

2. The exact price that Dangote sells to NNPC will be known. The refinery was partly financed by foreign institutional lenders. The financing contract will have a reporting clause under which the refinery will have to disclose certain commercial information. So whether directly or indirectly, the foreign lenders will know the prices and that information will most certainly get out.

3. With NNPC being the sole primary wholesaler, it should be easier for NNPC to identify and ban (retailers) who sell at exploitative prices. So, basically, better control over retail price by government/NNPC. Price certainty and stability will benefit the people.

Finally, if reports that the FEC will be involved in setting final prices is correct, again this will bring better transparency because any shenanigans by APC will be leaked by the PDP and other opposition Governors. All Governors are members of the FEC. This too is good.

Overall, I think some of the proposals being reported may herald a new era of transparency in the petrol supply chain.

Let us be patient and see how things work.

Part of the problem is that virtually every one in Nigeria wants to have a say on how much Mr Dangote must sell his fuel.

Yet, we don't dictate to Nestle or the manufacturers of Indomie how much they must sell their products. Did we dash money to Mr Dangote to build his refinery?

From a commercial perspective, petrol is just a product. The manufacturer, Dangote refinery, cannot sell below the price it cost to produce it.

Dangote Refinery is not a Charity. Infact, it needs to pay back billions of dollars in loans, or foreign creditors will seize the refinery and close it down.

The government has said NNPC will be the primary wholesaler. I think this is potentially a good decision because it will give the government the ability to moderate exploitative pricing by greedy, unscrupulous middlemen, like we are currently having.

The milions of people who are so worked up about what the price should be are not experts in fuel pricing nor do they have all the necessary information.

People should calm down and allow Dangote refineries and the government to negotiate and announce price.

delkuf:
the petrol buhari export to Niger abi. I just want to ask you a question, do you expect Nigerians to keep quiet with this new hike of petrol

No, I don't expect people to keep quiet.

The expected increased official price has clearly come as a shock to people. And the current prices above N1000 in some areas is terrible.

When we as humans face a new reality, complaints and frustration at the government of the day are perfectly normal reactions.

I am simply saying, selling petrol at between N560 - N600 is no longer realistic, unless we want to bankrupt this country for future generations.

Our domestic borrowing already exceeds One Hundred trillion naira. That is unprecedented in the history of Nigeria, and we don't even know how we will pay it back.

Our foreign debt is now around $100 billion. That too is unprecedented.

Truth is, Nigeria as a country is in financial trouble after over 50 years of reckless government spending.

We simply cannot afford to pay subsidy any more.

delkuf:
you mentioned Niger, Ghana with Nigeria. This countries don't have petrol. So it is unrealistic for Nigeria to sell petrol at 600. God help us

Both Ghana and Niger Republic produce crude oil.

GHANA https://www.piacghana.org/ghanas-crude-oil-production-in-decline/#:~:text=The%20report%20revealed%20that%20Ghana,when%2071%2C439%2C585%20barrels%20were%20produced.

NIGER https://www.africanews.com/2023/12/12/niger-first-marketing-of-crude-oil-in-january/

OneCandleAway:
If it was under Jonathan they would have started rioting.

If Mr Jonathan had been a strong leader with conviction, he would have gone ahead and removed fuel subsidy as he wanted.

Instead, he panicked at the sight of a protesters in Ojota and promptly changed his mind.

You can't blame anybody but Mr Jonathan himself for his failure to remove subsidy.

If he had removed it then, the trillions and trillions that Nigeria lost to subsidy over the years would not have been the case.

What should we do.

Dangote refinery can't sell to us below what it costs it to produce the petrol.

NNPC claims they are owing over $6 billion due in part to subsidy payments. Yet you want them to continue to pay subsidy so petrol price can be low.

If the country can no longer afford to pay subsidy, we need to face the reality that with the exception of the Arab nations, petrol is an expensive product in almost every country in the world.

In Niger Republic, Ghana and many other neighbouring countries, petrol sells for around N1300.

It is unrealistic to think petrol cam continue to sell for N600 here.

If we have to pay between N850 - N900 for Mr Dangote's petrol, we just have to manage it.

Why would you take custody of someone else's log in details unless you were supporting his actions.

With the other guy being charged with money Laundering and other serious offences, he dropped association with the guy's social media handle fast.

That's because associating with criminality is the last thing he needs if he wants to continue his asylum in the UK where he claims to be hiding.

Baronthecelebri:
Africa is truly curse, how can a country host continent

I believe even Indonesia is hosting an Indonesia-Africa submit. Indonesia

It is such an embarrassment.

But Nigerian government officials have no shame as long as estacode dollars is involved.

Even if lowly Jamaica wants to host Jamaica - Africa summit, Nigerian officials will be the first to accept the invitation.

It is a sorry state of affairs.

A lot of this is based on when you become President.

The President of a smaller African country who has been in office for several years will in many cases be given a more prominent position.

In that respect, Mr Tinubu who has only been in office for just over one year is one of the less senior President.

Though there are exceptions for leading countries like the USA, Russia and China. These ones will always be in the middle of the front row.