₦airaland Forum

judewrites:
😂

Taxes are originally meant to bring development not furthering poverty to the masses.

How many countries have tax developed?

Jozilinn:
Calm down this dangote ipo shares is basically everywhere I would say hold on a bit I don't know anything about it but I definitely don't like following trends. Just because everyone is getting it doesn't mean it would sell.

Just like hamster,xcoin and memfi it's not guaranteed it could decline in years to come.

You are using Dangote petrol, consuming goods and services powered by Dangote diesel and cooking with Dangote LPG yet you are comparing it with some pump and dump memecoins?

Kobicove:
one week for customer care representative to respond to enquires?!

If 100 Nigerians are to invest into the Nigerian financial market, about 80 to 90 are likely to use Bamboo. Hence slower and delayed customer service.

Birikiti:
What do you need cash for? I sed my cash across several countries, UAE, USA, Caribbean Islands...everywhere stew!

Leave him to his own ignorance. In 2026 somebody is still talking physical dollar when others spending dollars from there naira account using naira cards talk more of those with USD domiciliary account and dollar cards.

monkautos:
Stop lying abeg. Majorly from dangote refinery IPO. Which yeye Reform

Yeye reform?
What was the interest rate before and now then know the meaning of carry trade?

Bizibi:
"it is cheaper to import". Business men into import has been saying this for ages abi you nor dey this country......

To is cheaper to yet yet they import substandard products and sell it higher than the original?

43Ronin:
FG is not only destroying igbo businesses, FG is destroying nigeria businesses. The Chinese have economies of scale and thus their price can be cheaper. The Chinese will eventually enter everywhere nigerians do businesses and dominate it, even pepper & tomato. Tinubu should realise that when people are backed to the wall, they will react and respond aggressively

The Chinese have economies of scale because they put money together to register a limited liability company and conduct business with it while you guys choose one man business (sole proprietorship).

Bizibi:
Import is cheaper than manufacturing.....this is the result.

Which import is cheaper than manufacturing?
Substandard and fairly used products they you import into Nigeria with borrowed dollars?
Why are the Chinese manufacturing in Nigeria selling at lesser compare to the importers?

dalongjnr:
Check my name again.
The government doesn't care about the common man,I repeat.
How you only rely on loans to do meaningful things with your life,is baffling....
Supporter of Government of loans, for loans and borrowers.

The only thing baffling here is that you failed to realized that you live in an economic system operated by loans. Government prints money and borrow it to financial institutions like banks who in turn borrow it you. Government takes back the money by borrowing from financial institutions and the general public.

bentenny:
You are mixing up subsidy removal, regulation and competition.

The PIA provided the framework for deregulation,but subsidy removal itself was a government policy decision in 2023.

Also, PMS prices are not determined by crude oil prices alone; exchange rate, refining cost, transportation, logistics, taxes and supply conditions all matter.

Most importantly, subsidy removal does not mean competition has disappeared. The PIA actually provides for competition and prohibits practices such as price fixing and market sharing.

So the real issue is not whether government regulates the sector..it should. The question is whether multiple refineries and suppliers can genuinely compete.

And yes,cheaper fuel is not instant. If domestic refining increases, the benefits will depend on refinery efficiency, crude availability, logistics and, importantly, the strength and stability of the naira.

The PIA 2021 deregulated the sector which means government should not longer control petroleum products prices with subsidy. Petrol been the only subsidized by initially scheduled for removal in 2022 which the federal government then kicked against and postponed it to June 30th, 2023. You can't signed a law that deregulates a particular sector and still be paying subsidy, that is hypocrisy.
Finally, there is nothing like competition. It illusion designed to blindfold the masses from reality keeping them in the rat race.
The only way which more refineries will reduce petroleum products prices is when when join Dangote refinery to export and earn more forex increasing the forex in supply and forex reserve hence naira appreciates against the dollar which reduces price.
This refineries have to owned by Nigerians not some foreign investors.

WENGERNOMICS:
What kind of useless advice is this. Keep your 1m. Wait till January thereabout. When the price drops to about 100 naira, then you can walk in and pick 5 times the uantity you would have had. Every stock drops post IPO.....whats the rush?

Not ₦100 but 100 Kobo, continue to dream.

MrPresident1:
Dangote refinery, built with Nigerian money, will be nationalised

Mr. Marxist Communist, what percentage over Nigerian money do you contribute?

WENGERNOMICS:
Absolutely nothing wrong in getting Dangote Refinery shares. Its a great investment for the future. Its just that rushing in at 500 per share shows lack of finance acumen which is normal for novices. Just wait till it drops to between 50 and 100 naira per share and then you go in and pack 100 times what you would have bought today.

₦50 and 100 per share, some of you are very good in dreaming.

frank417:
FOMO at play. Their mind is fixated only on gains and not drops. Also, some people think it operates like MMM; they're thinking quick cashout.
If you choose to buy, then buy with an amount you can afford to lose.

The real FOMO will start after the stock trading and Nigerians who were waiting it to dip so they can buy sees only price increment per day because they failed to realize that Dangote Refinery IPO attracted institutional investors from mutual fund managers, pension fund managers to Sovereign Wealth Funds like PIA from South Africa, others from the East Africa and the Middle East who are playing the long game. That is when Nigerians will see the stock price at ₦1,000 and FOMO in.

Redoil:
Dangote refinery has refuse to release their balance sheet

People are been reading the prospectus since last week

Cmanforall:
And Dangote flour

My money still missing there.
Don’t even know how to go about it, and someone said he sold it

Where were you when the company was sold to new owners?
Go to SEC and settle yourself case

bentenny:
So which PIA act stated that PMS will become 2k per litre?

Competition lowers prices.

The PIA is the reason subsidy was removed from petrol been the last petreloum products with subsidy meaning that all petroleum products are now determined by oil prices.
The prices of everything you buy as a Nigerian in Nigeria is controlled by government and not some imaginary competition theory.

Kukutente23:
So why the distortion in fuel price if you claim it's simply down to minimum wage
Are you aware that prices of foodstuffs are shooting up again? Has there been minimum wage increase recently?

Petrol price move along with oil prices and inflation is powered by the money the government inject into circulation combined with money created by financial institutions and taxation.

[quote author=Tolumiide post=140639001]Take your hatred for other tribes to your bed and cuddle it. I am talking about an industry I've been for about 20 years.. where's Dangote cement before 2010?[/quote/]So it is tribalism that is behind your comments of false information?

Nteogwuija:
But it's not only Dangote na. I can list like 7 cement manufacturers, and all of them are priced same.

I think they operate an oligopoly in that industry.

I heard they issued licenses for new manufacturers, I don't know how true that is, hopefully when they start manufacturing prices will go down.

Keep hoping!

potent5:
Dangote wants to maintain his status as the richest person in Africa and he is relying on cement and petrol price manipulation to achieve it.

When the next election comes, still use tribe and religion to vote in bad government and shift blames later.

cr7lomo:
Dangote....u again.... this man will finish us for this country

After voting in Tinubu into power, it is now blame shifting to Dangote?

Dogalmighty17:
The government needs to open up importation of cement. It is obvious our local firms do not have what it takes to handle a market the size of Nigeria.

Since Dave Umahi began insisting on concrete roads for government projects, particularly the coastal road and the Sokoto-Badagri highway, the demand has shot up the price of cement coupled with the greed of Dangote, BUA and Lafarge who appear to have connived on this.

Nigeria has nowhere the volume of construction going on in China yet a bag of cement in China is less than 6000 naira per bag. Every component used in cement production is locally sourced. There is no bases for spiralling increase except for diesel costs but that is less than a fraction.

So importation is now the imaginary solution to the bad government you voted into power?

benuejosh:
Maybe the government should start producing cement for citizens.

How does that leads to price reduction?

Tolumiide:
From ₦600 in 2008 before Dangote cement started to ₦15000 in 2025. Unfortunately the same pattern is playing out in the petroleum industry.

After using tribe and religion to vote in bad government over years, it is now a company founded in the 1990s and that your illusioned to 2006?

Kukutente23:
Being able to afford it is not the subject
The subject is high fuel price and your silly taunts
Why should I be buying fuel at N1450 in a country where the minimum wage is N70,000?
Who cursed zombies to think they are born to suffer

The higher the minimum wage in naira, the higher the prices of goods and services in naira.

motionarena:
Dangote please take your refinery to Ghana we no want again
Fuel price has not been stable for 2 days since you brought this curse upon

Was it Dangote or Tinubu to announced subsidy is gone in May 2023?

Tareq1105:
Any sector of the economy where Dangote is involved, there's bound to be exploitation.

The same thing he did in cement manufacturing is what he's doing in petroleum products now.

Tinubu should give import license to all marketers, stop giving Dangote our crude. Dangote should go and get his crude from anywhere and he's free to sell it at any price he likes if he gets buyers. Matrix and Bovas petroleum should be encouraged. They've always been fair in their pricing.

Nigeria is the only where a citizen buys expensive substandard imported petrol and be calling it cheap.

abah001:
Nothing this dangote put hand go dey cheap. He is milking us all just to Maintain the record of richest in world list. We need more refineries from various tribes and cement to kick against this Monopoly and to bring competition. If not we will continue to be slave in his hand

When crisis in the Middle East started, citizens of other countries demanded subsidizes from there government while a citizen suffering and smiling here is quoting imaginary monopoly and competition theories.

Nextjs:
Before removing this subsidy the federal government told Nigerians they will use this funds to build railway, roads, hospitals, electricity etc.

Now this is almost 4 years and they are yet to point to account for this funds.

They are telling us to go and hold state governors accountable

Petrol subsidy was financed with loans and how some politicians convinced you they will money they don't have to build road for you needs to be studied.

bentenny:
How would NNPCL be able to compete with others esp Dangote who are selling it for far less?

That's where competition will set in which will eventually drive the price downwards.

Currently,there is no refinery competing with Dangote,hence he can increase the way he wants.

One of the major problems of an average is preferring illusions over reality.
Everybody knows that the Petroleum Industry Acts 2021 (PIA) signed into law in December 2021 when petrol subsidy removal deadline around June 2023 which Tinubu removed in his inaugural speech. Every educated person knows that petrol prices now depends directly controlled by oil prices.

Jman06:
Whenever it comes to workers' welfare that's when your ilks remember about basic monetary economics! All the other indices that have contributed to inflation should be checked, not worker's salaries! This is because Nigerian workers are among the least paid workers all around the world!

Nigerians are among the least paid because they believed increasing minimum wages will make them rich yet they keep getting poorer after every increment.