₦airaland Forum

jimi4us:
I don't need to read shiiit , Petroleum Industry Act that can't protect Dangote refinery from NNPC and their fellow criminals.
Dangote have to invest $250million to buy trucks to take his products to filling stations around the country.

Everybody is always quick to quote Nigerian laws when it's useless when it comes to implementation

To you, where you actually expecting Dangote refinery to depend on NNPCL and marketers for operations?

ALISMILE:
While dollar was 650-750 naira to the dollar when he was building his refinery, he was given at 350-400.

Where you expecting Dangote to source forex at the parallel rate?

BigDawsNet:
In a year.. the customs are generating over Trillion naira to the federal government…

Make them Dey comot half of the money to service debt nah

Servicing dollar debt without earning dollars

gidson12:
The Igbos are the ones generating that revenue.
Kudos to them

At the expenses of their fellow Innoson Motors in Anambra

ceejay80s:
And tinubu is still borrowing....
We are not itiboribo abeg

Yet, we keep consuming foreign products thinking that the dollars used for importation falls from the sky.

jimi4us:
I stop reading immediately I saw in partnership with NNPC

I think you need the read the Petroleum Industry Acts of 2021

ALISMILE:
Who else noticed the first sign of fraud in this proposal?
15billion dollars for a 500,000 bd refinery. While Dangote’s 650k bd refinery cost $20billion notwithstanding he got dollars at extremely subsidized rate to build the refinery.

Now that dollars is 4X higher than it was when Dangote built his, how do these people expect to meet up?

Where you the one who subsidize dollars for Dangote refinery project?

maxiuc:
only dangote refinery is enough to supply Nigeria but why is the price still high

Why is N114.20 trillion doing in circulation?
40 more characters needed!
Ancient Ways!

Nbotee:
Dangote and NNPCL are playing bad cop good cop with Nigerians





Isn't it rather questionable that only petrol prices are adjusted here in Nigeria at every slight crude price shift? The prices of Diesel, Gas, Kerosene, aviation fuel and other petroleum by products remain stagnant but only petrol is affected by international crude price

We all know that imported petrol is secretly subsidized heavily with NNPCL and her fellow importers needs the keep lies of cheaper imported petrol alive.

Starpro87:
Dangote is, obviously, playing with our intelligence.

Was there any reason he increased price for Nigerians a few weeks ago?

Why is his Price dancing within 800 and 900?

Maybe we will still benefit someday.

You are obviously playing with your intelligence expecting petrol price to remain stagnant while oil prices and forex rates fluctuates

Hugo55:
I know that Access bank must be among them. All the useless card maintenance and nonsense deduction you been removing from my account is paying off ba! Don't worry one day is one-day!

Ignorance is a truly a disease! What has card maintenance got to do with bank recapitalization when banks are issuing more stocks and debt instruments to raise capital.

ricson11:

https://www.youtube.com/watch?v=D9XRck9DYnI?si=jQT2BzbA2r2rbxJd

Billionaire heiress and DJ, Cuppy Otedola, reveals she's currently single but open to connections.

In a lighthearted statement, she says she's talking to people and playfully adds, “May the best man win.”

Fans are buzzing over what this could mean for her love life.

Why do Nigerians always see things from one angle?
DJ Cuppy is from a wealthy background with a dollar billionaire father and a top political background. Any man that doesn't have any of these will feel safe around her.

fabolouz1:
Most of these guys are only after money and her fame and not because she is loved, same as girls would do were she to be male.
she should disguise and travel to a city in Nigeria , maybe work in a restaurant or place visited by commoners.
That's only when she would find someone who love her for what she is .

Imagine a famous celebrity disguising to work as a waitress?

maasoap:
Exactly the comment I was looking for. I was ready to type it if I didn't see anyone posting this. All banks were supposed to have resumed this operation long time ago since no more subsidy for forex

No subsidy forex yet CBN is borrowing from international multilateral organizations to defend the naira?

nwirinedu:
This is what should have been done when NEPA was sold to incompetent cronies. People need the right to generate and distribute power.
The useless DISCOs will sit up or perish.
Let those knowledgeable in power generation enter the business.
BAT scores high on this one no sentiments.
No more electricity subsidizing, no more crazy bills provide real value for money if GTFO.

The biggest of Nigeria is when people are afraid of there oppressors and choose to shift blames. TCN with a collapsing national gird while receiving subsidy is never your problem.

Ofemannnu:
Still very low to South African debt.
All nations of the world borrow including USA and China who happen to be the most indebted nations in the world.
The main thing is for us to see what they are using the money for.
They shouldn't pocket the money because Nigerians are watching closely now unlike before...

Do they borrow loans to consume foreign products
40 characters incoming!

christejames:
What have we truly gained from the so called subsidy removal?

N210 trillion was used to pay secret subsidy on imported petrol after removing subsidy, the same way naira was unfloated on dollar loans to be floated on dollar loans.
40 characters incoming, ancient ways!

Itiskdg121:
We should find the missing 210 Trillion naira in NNPC to pay off the debts. Simple

EFCC, over to you

The money they used for paying subsidy on imported petrol after claiming subsidy is gone!
40 characters, 40 characters, 40 characters
Ancient formula!!!!!!

edogu:
...and the government is still planning to borrow more. What then was the essence of fuel subsidy removal? To satisfy your creditors, so that you can be credit worthy.

the subsidy they are secretly paying? The missing N210 trillion in NNPCL!
40 characters!
40 characters!!
40 characters!!!

nairalanda1:
The only way to crash the exchange rate is to develop an economy based on the export of manufactred goods and services...not just refined products.

We won't see a stronger naira...and Lord knows, I have been hearing about the naira's weakness since the 1980's...until we export things like radios, cars, cutlery, televisions, etc...that were made in Nigeria.

The problem is, we have built an economy, since independence, that has been based on exporting raw materials and sharing the money.

Your PDP that you are praising, the reason why people were fooled by APC was that they were angry that the naira was weak....and had fallen from N1 to 1 dollar in 1978 to N120 by 2012. APC even made matters worse because instead of using 2015 as a new start...they chose to ramp up the borrowing....because they did not want to make hard and unpopular but MUCH NEEDED reforms to our economy.

And then you Nigerians want stuff for free. Cheap fuel, cheap electricity, cheap everything. Abi e no cost money make these things?

Anyway, if PDP wins tomorrow, they cannot reverse the decline of the naira, and if Tinubu rules till 2041, he cannot reverse the decline of the naira, until people and leaders wake up and realize what china did to go from being behind SIerra Leone in gdp in 1974 to lending to SIerra Leone today.

The only way to crash the exchange rate is to reduce the money supply (M2) which APC government has been inflating since 2015

Dreal1247:
Until the other refineries begin operations, do not rejoice yet as petrol will go for two thousand Naira per liter under Dangote monopoly.

We all know that without a secret subsidy, the substandard petrol you guys import from Europe would not be less than N5,000 per litre but you choose to deceive yourself

sehin79:
this is what competition brings we will get there...this is what happen in developed country

Standard petrol vs Substandard petrol!

Lanre4uonly:
Ok. Price competition is allowed in as much the fuel is of good quality.

Continue to deceive yourself patronizing substandard imported nonsense!

LibertyRep:
Free market

But quality should not be traded off.

Some unscrupulous businessmen could go as low as importing substandard fuel just to make dirty profit.

When you are done deceiving about quality of imported petrol, remember that the lowest minimum wage per hour in Europe is Nigerian monthly wage. So, imagine claiming it is cheaper import from Europe if not engine-knocking, evaporating, substandard rubbish.

kmaster007:
And they are telling us we get crude oil in this Nigerian. I just dey wonder while whr buy fuel high price

I just wonder while your minimum wage is N70,000

crossbreedwears:
If the price doesnt go below 500 naira per litre, then we are still backward. How much did Buhari leave petrol?

How did Buhari leave the minimum wage?

flokii:
Dangote is a fly where the President is.. just one policy of Governement will end him and his monopolistic style of business.
My wish is for PMS price to reduce further so cost of living will reduce and Nigerians will be able to flourish again.

Keep wishing while petrol reduces by N5 and increases by N50 as the naira depreciates more against the dollar than appreciate.

Charly68:
Ok now,they are fighting Dangote ...I hope their fuel is as good as Dangote fuel

Keep hoping!

nairalanda1:
Tax revenue of which stamp duty is a part
252 billion(2024)

Fuel subsidy for the first six months of 2023 was 6 trillion naira.

Also, NNPC still gets large sums of money from the government revenue to pay for the subsidy debts it incurred from buhari forcing them to subsidize fuel from 2016-2023, something tinubu continued from 2023oct until the middle of 2024. That's not subsidy, that's the money still owed NNPC from the period of subsidy. A sign that even at the height of subsidy we still owed a lot of subsidy money

That is not subsidy according you but have wonder while Nigeria with 12th cheapest petrol globally is importing petrol from countries with 20th expensive petrol yet selling way the market price

Ezewuzie01:
https://punchng.com/tinubu-made-courageous-decision-to-stop-fuel-subsidy-otti/

He end petrol subsidy only to subsidize it secretly

Fiscus105:
To me, if Tinubu brings back subsidy.

2. If Nigeria wins world cup.

When APC is kick out of presidency

doncartel:
When minimum wage is increased to 1 million naira per month. In the club everybody will be buying drinks for everybody.

Your one million minimum wage will look like 5,000 in your hand