₦airaland Forum

Dougad:
For 25 years+, the Nigerian government has secured funding to provide electricity, and not once has it amounted to anything. It appears to me as nothing more than a well orchestrated money laundering scheme because they know their citizens will only clap their hands and say "Good job" instead of asking critical questions such as: What actually happened to the previous one?

Nigerian borrows money for importation

updatedws:
I thought dey already privatized electricity? Why borrow these humongous amount of money to invest in power sector that benefits only the private investors...

Tomorrow u see Gegeru powers and others declaring profits in multi billions of naira.

These guys are wicked

Every knows that Nigerian government borrows money for consumption of foreign made products

Hemanwel:
They said they've saved billions of naira from fuel subsidy removal; yet they keep looking for every avenue/opportunity to collect more loans.

You cannot use lies and propaganda to run the economy. It cannot work!

Where do you the billion spent of importation comes?

adenigga:
Source: https://dailypost.ng/Nigeria-secures-$1.1-AfDB-loan-to-provide-electricity-for-5m-people

FG borrows $1.1 billion defend the naira, message decoded!

Olaide1295:
Dangote needs to source for dollars to import crude oil from USA because NNPC is not selling enough to him.

Between Dangote and NNPCL, who earn more dollars in Nigeria?

Gotocourt:
WTI is cheaper than Bonny light but less quality
Good for business

Not necessarily less quality but more sulphur content which is added because sulphur are used to make catalyst for oil refining and other petrochemical products.

Procashtips:
But your govt said no subsidy again.

We all that petrol importers usually have a landing cost of N1,300 but will price it N900 at their depot and demand N400 for under-recovery cost from the government and NNPCL is the leader.

normaman:
Considering the elimination of associated costs of importation, dangote!

Considering the trillions of naira pay on secret petrol subsidy

Procashtips:
Suddenly import is now cheaper.

You're not seeing what I'm seeing?

Same way MTN and Airtel claimed price can't come down until Glo entered the market.

Once there's a competition, things like this start happening.

As long as the imported ones are of the same or higher quality than that of NNPC and Dangote, let the price war continue.

Imported with heavy subsidy

CHAQUR:
With landing cost... Imported fuel cost lesser than Dangote's Lagos made fuel. Hilarious...!

Secret subsidy in action

toyeoye:
your opinion is not relevant

The truth is always bitter. Continue to support a government that export raw materials to Europe, borrow from the Europeans to import and subsidize claiming is cheaper while the Europeans buys cheaper quality petrol from Dangote.

Bimpe29:
We are in it together. However, why I can't be bothered by your despondency is in the fact that man is not God. With God everything is possible.

Stop playing religious because you will reap whatever you sow. The the next election comes, still vote Tinubu.

Jomonix:
I am querying why you have a problem with reviving our moribund refineries to increase the availability and protect Nigerians from monopoly. Seems you have forgotten your own post

Where is the monopoly?

eteba:
Simply put: Dangote, NNPCL, Abba Kyari, Marketers etc etc, are all here to fleece the nigerian public, it's all about lining their pockets first, they're all thieves.

Simply put, those who voted Tinubu into are fleecing themselves.

toyeoye:
We love competition! Bring it on

Continue to deceive yourself while they borrowing to subsidize imported petrol

Jomonix:
So, you prefer a situation where Dangote refinery operates as a monopoly.

So, you prefer borrowing billions of dollars to import and subsidized petrol claiming it is cheaper?

adenigga:
Source: https://punchng.com/Marketers-May-Dump-Dangote-Fuel-As-Imported-Petrol-Costs-N922/litre

More secret subsidy after subsidy removal

Ddeliverer007:
The dangote refinery doesn’t work. It’s a scam.

Explain to me how imported fuel at this high exchange rate will be cheaper than “Dangote” fuel? How?

The simple answer is Dangote also import! His refinery is a scam.

When you wake from your dream, 99.9999% of your national budget is been used to subsidized imported petrol.

Food
Internet
Movies
Electricity

Bimpe29:
We are in it together. However, why I can't be bothered by your despondency is in the fact that man is not God. With God everything is possible.

Keep playing religion, bad governance bad governance is the reality you live in.

Bimpe29:
That's really one of the beauties of competitive market. Anything that's capable of crashing the prices of the close substitute and making supplies of cement more than the demands.

When you are done deceiving, the cheapest will be 100k

gigabyte13:
If we operate an open market economy and a real competitive one at that in Nigeria, will Dangote still be the richest Man..........??
I doubt that 100%
Dangote is just a beneficiary of government patronage and romance.

Your ignorance on this issue top-notch, because the richest people are the largest shareholders of a public liability company qouted on the stock market.

[quote author=seunowa post=133191833][/quote]Convert it dollars and see how backward Nigeria has become

femisplash:
https://businessday.ng/news/article/why-naira-is-appreciating-and-how-long-it-may-last/?amp

Billion dollar borrowings from multilateral organizations

ufotunang:
Tinubu this your harsh policies of floating of the naira is the one causing the naira to depreciate.. pegging of the naira against the dollars will appreciate the naira against the dollars and reduce the costs of fuel and reduce the poverty, hunger, hardship, inflation, high costs of living nigerians are facing now .. floating of the naira can only work out perfectly if Nigeria is a producing country and economy..can't work out in a consuming economy and palliative economy as Nigeria is now

Then, borrow trillions of dollars to defend naira, then borrow again to pay back the loans.

Gboss247:
The naira that was never floated, but defended with borrow loans.

AlphaStyles:
as long as Tinubu floating of naira still exists,market forces will continue to weaken our naira.

The naira that was never floated, but defended with borrow loans.

ThunderfireNLMO:
Mumu, this one think I'm in Nigeria🤣🤣🤣

Keep deceiving yourself, idiot!

Salewa97:
Toh

The budget for 2025 is just N3tr, the one for 2024 was N2.2tr, that of 2026 should be above N4tr.

The increment is good

The increment is bad because more naira means less value which equates price increment of commodities.

ThunderfireNLMO:
This thieving capitalist sha want to become Richest man in the world by force by fire, lol😅

The communist you supported in 2015 has turned you into a beggar

ufotunang:
.it's not Dangote fault that the costs of his fuel is expensive..it's the high exchange rate of 1,730 naira to a dollar that is causing Dangote fuel to be expensive..if the exchange rate is like from 600 naira to a dollar and below.. the price of Dangote fuel will be very cheap..so the federal government should try and appreciate and strengthen the naira and make it have value against the dollars inorder for fuel to be cheap and affordable for nigerians to buy

Tinubu promised to devalue the naira and reduced the purchasing power of Nigerians, yet he was supported to due tribal and religious reasons.

Xinox:
Will they sell fuel to Nigerians for #500?

You have to wake up from dream!

Oghene86:
At what price? If it's more expensive than the imported one then NNPCL please continue to import we can't die in this country because of greed

What about NNPCL importing without secret subsidy?