₦airaland Forum

Paraman:
You're spreading fable. The FG is not paying a kobo as subsidy

Imagine importing a litre of petrol from Europe where the cheapest price is €1.7/litre i.e N2,720, then landing cost in Nigeria becomes N900+.
Later, you hear importers demanding for under-recovery from the federal government.

Paraman:
Where are you getting this your facts from?

You have internet on your device, do your research.

Hemanwel:
Why is the naira not appreciating against the dollar as much as it should now that Dangote refinery and the NNPCL refineries are functional? Aren't these supposed to be our biggest sources of foreign exchange?

Why the dilly-dallying of the naira?

Seriously, you expecting naira to greatly appreciate against dollar when you partnered with NLC to increase the minimum wage thereby pumping more naira into circulation.

emmabest2000:
Anything that goes up in 9ja will never fall down

Have your minimum wage ever come down?

osayuwamwen:
Lol nor be this country you they? who is giving who under recovery cost ? No more subsidy oga it has be fully deregulated, let dangote sell below 800 and see if they won't buy from him it is business bro, in business you buy yr products from were it is cheap to make maximum profits simple logic

Continue to play blind, I just gave the details of petrol importation Europe to Nigeria and there dozens of articles which NNPCL officials affirming to it.
Enjoy your secret subsidized European petrol!

Paraman:
Government is no longer subsidizing

Government is no longer subsidizing they are paying under-recovery cost to importers, keep defending nonsense!

osayuwamwen:
It is their money, no more subsidy. import from anywere it is cheap, if they are still importing it means they are getting it cheaper, na comon sense don't be stupid nigga

Let's talk about common sense
Imagine importing a litre of petrol from Europe is €2/litre or N3,200 with landing cost in Nigeria at N900+/litre with importers demanding under-recovery cost to cover losses.

Lookmun:
Whatever works is okay for me but I disagree that WE MUST privatize. There are countries whose state oil companies run their refining business. I tell you, even if we privatize today, so long as that corruption element is not undone, the same people will sell to themselves or their private stooges that lack the capacity to run those companies and then we are back to square one. Like I said, I don’t mind privatization but the issue is deeper than that.

It is called commercialization where government organizations are operated to maximize profits not receiving subsidies in the name of nationalization.

femi4:
Agenda must agend...nothing like subsidy anymore

NNPCL imports petrol from Belgium where the price is €2/litre with an exchange rate of N1,600/€ approximately, the landing cost is over N3,200/litre with under-recovery cost aka secret subsidy covering the loss

femi4:
If its not affordable, we won't hesitate to import cheaper product

If secret subsidy is not paid, petrol importation from Europe will be history.

VanuatuWycombe:
What could have led to what you just wrote now?

Tell me before I tell you further my reasons for writing that DANGOTE should reduce price more or else, I will hit you as if na train jam your mother.foka being.

You no dey look face? Why won’t you read my comment and move on? Are you DANGOTE or his spokesman?

Ko ni daada fun e ati awon to bi e lomo.

If I have PhD in ignorance, you must have been a Professor Emeritus of Nonentity.

What has international oil price got to do with him reducing price further?

Have you seen his BOM or his standard cost template? Or have you seen his pricing template? Do you think his margin is not more than 300% on CoP?

The N20 he is reducing is not up to 10% of his margin. He can still reduce it further to fight completion. At 35%, he is still doing fine. Even at 20% margin, he is good to go.

He has an advantage that importers don’t have.
I doubt if you can run a successful business in your life. Better be going to your 9 to 5 job and be collecting your guaranteed salary.

What do you know about costing or international trade than what you read online?
Bring your entire house here or to another household and I will tutor you guys on Management Accounting 101.

Oo ni je’re. Emi lo fe maa bûlly online. Walahi 1,000,001 of your generation unborn can’t handle me. Ko ni ra’gba fun o.

Long article without any point

Saga16:
Wherever people source forex from.

Do you understand what a free economy means?

Where do people sourced forex from?

Saga16:
I don't have a problem with it.

It's a free economy.

If you can get it cheaper, please do.

Where will the forex come from?

Saga16:
How so?

Dangote sells at a rate cheaper than imports.

Yet you have a problem with it.

"They have a problem with it" or you have a problem with it?

VanuatuWycombe:
Make baba crash the price well well.
Dem go get high BP instantly and fall in line.

Looks like baba sef dey greedy.

You must have a PhD in ignorance
The oil price reduction in the international market combined with naira appreciation is not relevant to you

ejieddy:
The challenge with importation is that you use up the unavailable foreign exchange for this business.

The challenge of importing a litre of petrol from Europe at €2/litre i.e N3,200+ claiming a landing cost of N900+ with an under-recovery cost (secret subsidy) of N2,300+

Mccollins042:
If we have it and refine it why is it still as expensive as imported one? We don't need monopoly

NNPCL and marketers import petrol from Europe where the prices ranges from €1.7 to €2, convert to naira and the secret subsidy (under-recovery cost) fraud

Saga16:
Then don't import.
Problem solved.

I think you need to use your internet browser app more effectively

Mccollins042:
I love the competition....that's why Dangote is always reducing prices

You love self-deception
You export crude to Europe and import petrol at €2/petrol and using secret subsidy to cover up

Mccollins042:
Dangote should sell his own while marketers import theirs that will make the price go down...Dangote is reducing price now because he wants to sell cheaper than marketers, imagine if there are no marketers.... monopoly is bad for the people

Do the maths of importing a litre of petrol from at Belgium €2 with euros over N1,600+ with landing in Nigeria at N900+ resulting in an under-recovery cost (secret subsidy)

OkCornel:
The fuel import subsidy claiming gravy train is over.

That cabal should take the L and move on.

It is only secret subsidy to make a litre of imported at €2 to have a landing cost of N900+ in Nigeria

Saga16:
Nothing wrong with importation, if you can get yours cheaper.

Cheaper at €1.698 (2,693NGN) from Belgium while Dangote is 890NGN

Blazebond:
Una ask for deregulation and you got deregulation so why is dangote doing all he can to force monopoly on us, deregulation means that anyone that is capable of sourcing for petroleum products that meets the standard of nigeria is free to do so,so I don't see why some you are getting angry that importation license is still being given out, nobody will get any monopoly again in Nigeria o, everybody must compete.

Have consider the trillions of naira spent in secret subsidy on European petrol

Pootle:
so why nnpc keeps importing

To enjoy secret subsidy

ttobizz:
Local refined sells for same price as the imported, yet you want to impose dangote petrol on us. I say no to monopoly. Let the competition continue

Why go to Europe price petrol and discover secret subsidy paid on imported petrol

seunowa:
Nigerians pms consumption should never be left in the hands of one man. I wholly support pms importation to prevent monopoly of the products.

Where is the monopoly?

Paraman:
Dangote should forget it jawe, importation of pms won't be banned.

Just payment of secret subsidy on imported petrol would also be banned.

tnerro1:
So why is NNPC importing 25 million liters daily

To enjoy secret subsidy

femi4:
Everyone can't n won't get rich. Somebody must work in those enterprise

So if I worked in an organization and invest a percentage of my salary in stocks, bonds, ETFs, Mutual Funds, Commercial Papers, REITs, NFTs, cryptos etc, I wouldn't be rich according to you?

franchasng:
Entrepreneurs (are also investors)
Politicians
Athletes/Sportsmen
Music Artists
Some employees (you can become rich via some employment)
Bank MDs/CEOs are employees

Medical Doctors in USA that earn around $450,000 annual are employees

Specialist Nurses like Anaesthetic nurses in USA that earn around $400,000 a year are employees.

MDs of some IOCs and FCMGs that earn fat salaries and profit share of the company annual profit are also employees.

MDs and top staffs of some intl NGOs that earn lots of salaries and outrageous allowances/bonuses are also employees.

Procurement managers and Directors of big organizations that make lots of money on daily and weekly basis are also employees.


Pilots and ship captains that earn huge salaries and allowances are also employees.


Employee get level. You can become rich through some employment and even raise enough startup capital to venture into your business and become an entrepreneur/business owner over time.

CEOs and MDs are always the largest shareholders of the companies they managed.

lereinter:
Mr sense how you dey

Dindinrin

Scarcity of sense, how was your day?

lereinter:
Lolzzzzz 🤣

After buhari, CBN, nnpc gave you free dollars

They know the gullible they are talking to

If I were you, I would be in CBN by defending for free dollars since common sense is far from you.