₦airaland Forum

Akpabio just de fresh everyday.

Wike is a charismatic politician and he knows how to make and keep friends. I believe that is the secret to his success.

Georgry:
Wike is easily one of the 3 most powerful politicians in Nigeria, this is so strange to me considering the fact that he only seem to have influence only on a single state and not even a regional block so where is the power coming from?

Wike is a good and charismatic politician, a good team player. And he knows how to make and keep friends. That's the secret.

The President of Nigerian Senate, His Excellency Godswill Obot Akpabio, visited Chief Barr. Nyesom Ezenwo Wike, at his Asokoro residence in Abuja today.

https://www./374229093794966/permalink/1215243586360175/?mibextid=Nif5oz

ÑWC led by Legal Adviser? Go and tell INEC that nonsense and see how it will turn out. Fools.

Gboss247:
Not with Tinubu borrowing loans to pay loans, CBN printing trillions of naira daily, banks being recapitalized or minimum wage been increased in naira. Forget about naira appreciation and price reduction and plan how to survive the disaster awaiting Nigeria been an oil dependent economy when renewable energies and electric cars are taking over. Dangote refinery is a futureless project.

(1) Jordan and many other Arab Gulf countries are also oil dependent economies yet no disaster. So your assertion is wrong.

(2) It will take more than a decade for Nigeria and other African countries to totally switch to electric cars. It hasn't even happened yet in the US, Europe, Australia, China, India, Canada etc. Despite the available infrastructure. So you are wrong again about that.

9jatriot:
Stop trying to set up the government or Dangotte himself. Fuel (petrol) is not likely to reduce anytime soon.

Do not raise the hopes of people unnecessarily.

However, it will boost the economy of Nigeria in a lot of ways.

The CBN has said that 40% of Forex demand is for petroleum products. If that 40% pressure will be removed, resulting in a stronger Naira. Then Dangote will need less Naira to buy a barrel of crude. This will translate to lower production cost per liter of petrol and other refined petroleum products. Therefore the pump prices will be lower. The inflation will reduce.

It currently costs them N65,622 to produce 85 liters of Petrol. When the exchange rate goes down to about N1000, it will cost much less to produce 85 liters of petrol from each barrel of crude oil.

Looking at the document below, it's crystal clear that Dangote Refinery can boost Nigerian economy and bring down petroleum prices.

Right now he is buying a barrel of petrol at the equivalent of $72 per barrel (which is N117 Naira per barrel).

- each barrel produces 85 liters of petrol (which is about %53 of what comes out of a barrel of crude oil).

- When Dangote starts selling in Naira from the 1st of October, it will relieve the pressure on Naira by 40%. Because importation of petroleum products accounts for %40 of the Forex demand currently.

- when there is 40% less demand for Forex for importation, the Naira will strengthen to about N1000 to $1.

- that means Dangote will be using N72,000 to buy each barrel of crude oil as against the N117, 000 that he is using to buy each barrel right now.

- with that, the pump price will drop by about %40. (From N1000 per liter of petrol to N600 per liter of petrol).

- They stronger Naira will also help reduce the inflation that is biting Nigerians right now.

Looking at the document below, it's crystal clear that Dangote Refinery can boost Nigerian economy and bring down petroleum prices.

Right now he is buying a barrel of petrol at the equivalent of $72 per barrel (which is N117 Naira per barrel).

- each barrel produces 85 liters of petrol (which is about %53 of what comes out of a barrel of crude oil).

- When Dangote starts selling in Naira from the 1st of October, it will relieve the pressure on Naira by 40%. Because importation of petroleum products accounts for %40 of the Forex demand currently.

- when there is 40% less demand for Forex for importation, the Naira will strengthen to about N1000 to $1.

- that means Dangote will be using N72,000 to buy each barrel of crude oil as against the N117, 000 that he is using to buy each barrel right now.

- with that, the pump price will drop by about %40. (From N1000 per liter of petrol to N600 per liter of petrol).

- They stronger Naira will also help reduce the inflation that is biting Nigerians right now.

TechCapon:
flag amachree is amaechi loyalist and former rivers state apc chairman

was. He now works with Wike.

nairalanda1:
Oga, please, don't make me laugh at you.

The real koko is that NNPC Is the only buyer of dangote fuel. Tinubu wants to be elected in 2027, and his company has an interest in NNPC.

Tell me, would they let fuel be sold at the real market price? Not when it means losing power?

You guys should not make me laugh today o...before someone thinks I should be committed.

Your government lies. Well well.

you have not said anything sensible.

nairalanda1:


Your government is still paying subsidy.

You guys should stop believing everything government says.

you do the math. How much is NNPC buying from Dangote and how much is NNPC selling. So where is the subsidy there?

ivolt:
The bold is false.
Smuggling continues as long as Nigerian price is lower than neigboring countries'.
Subsidy or no subsidy, refinery or no refinery.

But the smuggling won't really hurt our economy if there is no subsidy. It would be bad if we are paying subsidy and the product is smuggled out. But in this case of zero subsidy, no problem. 25Million to 30Million liters of petrol per day is more than enough for West Africa.

nairalanda1:
NNPC still not ready to remove subsidy, essentially.

The fact is, the government too wants to remain in power....and a subsidy removal means they get kicked out.

Subsidy still exists, folks.

with this new price, NO subsidy. Rather NNPC makes some gain per liter of petrol sold.

Illegal mining and banditry, kidnapping, terrorism. Almost always go hand in hand. Wherever illegal mining starts, you soon start hearing of kidnapping, banditry and other violent crimes.

Aile:
Corruption of the highest order. Come to think of it why will the nnpc allow dangote to sell diesel to independent marketers directly and refuse selling of petrol to them directly? Something is cooking

because their money spinner is in the petrol subsidy.

I wonder how that neat hole was put in his head.

OneCandleAway:
So aren't there street light already in most places. Is transport not more of a priority at the moment.

Work is ongoing for the transport sector. The Abuja rail is in service and groundwork for expansion to cover more routes is ongoing, bus stations are under construction, roads and bridges are being constructed to shorten distances, create access to remote areas . What else are you asking for if you are not a mischief maker?

OneCandleAway:
I repeat, the problem of abuja currently is insecurity and transportation. Everyone builds a borehole nowadays so water isn't the problem. If they can abduct and Rob people in your own street in abuja wike even as a minister Street light isn't a pressing concern.

You are absolutely clueless if you think Lighting up a Capital territory doesn't help in the fight against crime and also that Metropolitan and rural water projects are not necessary. It's because we have so many people that think the way you do, that Nigeria is underdeveloped.

This is just noise. There is nothing governors forum can do. And they know it. Fubara you are on your own.

fergie001:
Who is an ally?
An ally is a friend or a loyalist.

Onor openly said without Wike, he is nothing. That if Wike asks him to jump, his response will be how high.

that's a lie and you know it. Please post a link to where he said that here.

ruggedtimi:
even minister of petroleum na Wike boy. Who is sandy onor

Sandy Onor is a Senator and has previously held so many elective and commissionership positions in Cross River State. He was the PDP Gubernatorial Candidate in 2023.

fergie001:
Onor has always been Wike's toy and he brags about it so nothing surprising.

He has to hang around for appointments.

How can you call a man like Senator Sandy Onor a toy to anyone? He is Wike's political ally, who has been his close friend since 1999 when they were both Local Government Chairmen.

senatordave1:
Wow,Sandy onor the leader of Pdp in CRS is in Wike's entourage cc fergie001

The Original Caterpillar

Nothing de happen. Themselves they know.

What is this nonsense? Humanitarian Affairs has to do with all Nigerians not disabled people. Besides, why must she campaign for ministerial appointment?

Major development. Kudos to the hard-working, competent and innovative FCT Minister 👏👏👏

Okono Nsa filling Station located at Marian Road, opposite High Quality Bakery, Calabar.

What kind of nonsense is this? I fear for the future of this country, with the kind of high number of stupid people we have.