₦airaland Forum

koxyz:
What is the source of this assertion?

Macphenson:
Am watching Al Jazeera, CNN and BBC News together and all trio are on the same page of tankers not crossing, especially since the US Blockade of Iranian ports.

Macphenson:
Oga stop lying, no tanker is passing through the Hormuz now, the deal between US and Iran is yet to be solidified, intact yesterday Trump said he is not in a haste to make a deal with Iran. Try dey watch Al Jazeera and CNN.
Why is Dangote bringing down the prices now?

Jman06:
Your first paragraph is even the reason why increasing the minimum wage is sacrosanct because taxes have increased astronomically under this administration. We are currently being taxed for like never before.

Cost of living has increased by a hundred fold and you still talk about workers salaries causing inflation. Does the humongous amount of money we pay for rents, transport, fuel, and food items not increase money in circulation? Why is it only the meagre salaries civil servants receive that you remember as a source inflation?

If government would not increase minimum wage to at least 200k, then an alternative would be to reduce the number of days civil servants work in a week. Going by their current meagre pay, we can reduce the number of days they work to like twice or even once in a week so that they can use the rest of the days to pursue alternative means of income so as to survive the current high cost of living. Let government weigh both options and agree on which is better for the country.

Are you aware of the current rate of increase in the cost of virtually everything in the country? In Enugu for instance, do you know that the rent for 3-bedroom flat which used to be 300k just some 3 years ago now goes for 1.5M? Just imagine the proportion with which rent increased in just 3 years. Within this same period, cost of virtually everything that supports living has increased in the same proportion as house rents. Despite this humongous increases, civil servants still receive peanuts as salary!

Macphenson:
Dangote should answer that question. Why is he suddenly reducing prices as he heard import licenses have been issued?

Akwara25:
Dangote is the worst thing that ever happened to Nigeria.. He's trying everything to monopolize oil sector in Nigeria but God is above him..

kedeojo:
I didn't condemn him totally if you read my statement but he need to show mercy for his fellow Nigerians. why is he now reducing. it is simply because marketers are be urge by NNPCL to import fuels and he just want to fulstrate them from the market to gain monopoly. like I have always maintain, government be it federal and some oil rich state not investing in the refinery project are foolish.

kokogist:
DANGOTE IS WORKING ON OUR PYSCH

koxyz:
More license should be given to the importers of petrol, this will make us have value for our money.

femi4:
Cut it to N500 if you mean business

MakindeHassan:
Crude oil prices are falling.

Some people think those calling for import licenses are unpatriotic but it is the only way to keep Dangote competitive.

Dangote’s prices should be slightly cheaper than oil that entered ship 3000 miles away, paid export and import charges, wasted time on sea which brings additional finance cost, but he is more expensive.

If import licenses are given, importers will bring in product whenever his prices go above landing cost of imported products. If his prices stay below or at par then the license will be useless but it will keep him in check.

Olatundex22:
Just look at that 🤔 🤔 🤔 i never trust this man cry for once in my life.
Biggest market manipulation we have in Nigeria is Dangote. Government should ensure more licenses is being given out

Macphenson:
NNPC pls issue more licenses. Dangote wants to kill us with monopoly in this country.

Meringe:
Fuel import license that was granted to importers is doing the magic.

Dangote wants to recoup his investment with a year.

Meanwhile refinery is a deep capital project that the recouping should be spread over 20 years.


Dangote, we are supporting you but please don't suffocate us.

gabbasin:
the "substandard" petrol we've been buying for decades before Dangote refinery, Dangote labelling imported fuel as substandard is just propaganda to make us believe imported fuel is cheaper because it's of low quality. In those decades of imported petrol, I only heard issues about "bad fuel" twice.

Jman06:
Minimum wage does not raise prices of goods and services the way increase in fuel prices do. The major driving forces that seem to raise prices in the markets are increased fuel prices and the exchange rates of the naira to dollar.

Jman06:
Giving the prevailing economic conditions, minimum wage should be in the range of 200K to 250K! Some states are already paying 100k, so what's the difference? If government truly want to cushion the effects of the high inflation rate on workers, minimum wage should be raised to at least 200k.

Nigerian workers are currently the worst hit by the high cost of living in the country. Traders have since increased the prices of their goods. Artisans have equally increased prices of their services likewise transporters increased transport fares. Landlords too have increased rents by over 300% in most places, yet civil servants still earn peanuts! NLC and TUC must fight hard to get the minimum wage raised to at least 200K before next year's election!

phemmie06:
That is not what we need now, we need living age.

gabbasin:
I am not asking for petrol subsidy, I just want competition in the sector, no doubt fuel prices are largely determined by international crude oil prices. My question is: why should Dangote be afraid of competition from importers? It can only mean his prices are not competitive enough, meaning the prices can go lower if competition is allowed.

ZombieTERROR:
Almost a trillion

And still borrowing continues

more money for The thief to loot and steal

Nigeria is in trouble

Times are really hard

gabbasin:
I'm not talking about international crude oil price determining fuel prices, we all know that. But leaving Dangote as the only determinant of fuel prices is a monopolistic tendency. Let's allow importation to checkmate Dangote and if his prices are competitive enough it will discourage importation. Dangote is the only one to discourage importation if he's giving us the best prices. If importers feel they can still compete with Dangote prices, they should be allowed. Say no to monopoly. We need to protect Dangote refinery though, but not at consumers' expense.

Reference:
This is not global practice.
In other climes commercial banks service up and down the food chain from individuals to corporations. It is merchant banks that are primarily dedicated to serve corporations. That aspect has been long lost on Nigeria.

If commercial banks do not serve the whole spectrum why do they continue to take deposits and investments from individuals, small businesses and all. Is their business a one way street.

Don't normalize the skewed practices of an industry that has been poorly governed and directed over the past two to three decades.

Very soon the Micro-banks too will begin to build fences if the government allows them to do as they wish.

Kindly revert to the simple definition of a commercial bank and see just how far this country is drifting., being mismanaged.

GoldenGTV:
Hope you've read the recent news on AGO ?
Kindly go through it and get some insight.

AbosedeFalade:
This conversation is beyond your capacity. Look elsewhere for a topic within your capacity.

AbosedeFalade:
This conversation is beyond your capacity. Look elsewhere for a topic within your capacity.

gabbasin:
I quite agree with you, but without competition we'll still be at the mercy of Dangote on when prices should shift downwards when price of crude fall in the international market. With competition, consumers can still get marginal reduction on fuel prices

DJperdurabo:
Wow..so you're crediting this development to the opening of the Hormus Strait?

Oh well! (rolls eyes).

Checkwell:
No ne small thing. They are really cashing out in Nigeria but don't want Nigerians to cash out in South Africa. No be juju be that?

system21:
Dangote is evil, we all know that he did not build his refinery to help Nigeria

jubrilELsudan:
AFTER SATAN THE DEVIL NA DANGOTE

Tjra:
Dangote and his monopolist strategy.

The people are the beneficiary of this their dirty games.

Big win for us

ejieddy:
You could have been more truthful by saying crude oil prices dropped and that made the price of AGO drop but because there must be an agenda, you had to include imported cargo. Haven't these people been receiving cargoes before? Are their prices not even higher than MRS? Just say crude oil prices dropped and then the drop.