₦airaland Forum

bixton:
This is a welcome development.
It's also timely that Gov. Fubara also do something about the Old Port Harcourt Park at Mile 1 and also ensure that it's also given a modern fitting and State of the Arts equipments and buildings for that land there is massive to be left the way it is.

The Port Harcourt Zoo also needs revival

Islie:
https://dailytrust.com/nnpc-commences-payment-of-6bn-debt-to-suppliers/#google_vignette

Subsidy payment and after subsidy removal

Themandator:
Why is imported AGO,without 'illegal subsidy " cheaper than his own and of better density than his own that is of DPK density range ...why? Or your reckoning is that it is only imported PMS that is cheaper


There is deregulation. Prices that NNPC issues are for their own imported or locally sourced products . It has nothing to do with a blanket price regime for the market .


There is no longer subsidy for anyone who chose to import

Again , hyperventilate on what you know and understand....NNPC does not grant subsidy to depots who chose to import on their own



You only enjoy discount when you buy from NNPC

Presently depots have taken advantage of the price adjustment by NNPC,who is the major player , to import

Trillions of nairas are spent on subsidy

airsaylongcome:
Easy. It's more expensive to manufacture here than abroad.

It takes foolish to believe that imported is not subsidized

Nedumadrid:
Why is Dangote scared of imported fuel?
Is the imported fuel cheaper than his?

Does he think fuel is cement.
Monopoly kills competition and innovation.

If he is smart enough he should make his fuel cheaper so that does who import will be at loss.

Continue enjoy your illegal petrol subsidy after subsidy removal while deceiving that subsidy is gone.

Themandator:
Speak on what you know and understand.



As we write here , prices are coming down at the depots as a result of this import.


If we allow Dangote only you are going to buy pms at prices you will never believe

Pray Bua refinery comes online ...that is somebody that does business with conscience

Prices are coming down because of NNPCL illegal subsidy to give marketers a very high profits. Imagine importing a litre of petrol at N1,300 when dollar is N1,700 max and depot price is below the landing cost? It takes foolish to believe that it is not subsidized.

Kobicove:
If importation is what will lead to lower prices for petroleum products then so be it!

Continue to daydream while enjoying illegal subsidy

Omololupromise:
Importation and dangote price are almost same so they prefer to import

Here is real deal, NNPCL import at international prices and subsidized it way below unsubsidized Dangote petrol. Then marketers buys from NNPCL and sells the prices with Dangote to maximize higher profits. This implies that, it is more profitable to sell imported than local petrol.
Example, if Dangote sells petrol N950 as refinery price with pump price been N1,300 max. Marketers will make N350 profits but if NNPCL imports at N1,300, subsidizes it to N700. Marketers will at N700 from NNPCL and sell N1,300 with Dangote petrol maximizing N600 profits instead N350 profits, a difference of N250 profits.

Omololupromise:
Dangote should crash his price

While the Tinubu you supported continue to devalue the naira?

jaxxy:
wealth doubles but he can't supply fuel to his own country and state his free market price?

Says someone enjoying illegal subsidy after subsidy removal

NinjaMetahuman:
like they will tell us apple is worth 4 trillion dollars.

4 trillion dollars is more than The entire of Gdp of Africa and half of Europe.


Then you start wondering how the fvck a company that is only popular in America and few other countries worth that kind of money?

Very funny people.

Market capitalization i.e stock price multiplied by the volume of stocks

kmaster007:
When Dangote selling cement for 2,500 in other countries and selling for us 10k. I no his not a good person...

Mention the countries where Dangote cement sells 2,500?

jrusky:
I'm even shock he mentioned Mathematics. Mathematics to make you a millionaire? Are you for real Mr OP? I doubt it.

The best software developers in the tech industry are mathematicians.

giantstar:
Engineers don't remain jobless if they know what they studied but the case is different in Nigeria bcoz most graduates don't undergo practical aspects of it.

Most Nigerian just go to school for the sake of going school, they don't even know the courses that are studying nor it's application. Imagine an engineering graduate can mention one CAD software.

Arostar2023:
You are the one dreaming. In the next 10 years GM and Ford will still be producing petrol cars and China will still be burning coal to generate electricity. Perhaps Canada and USA will still have some coal fired power stations still up and running.

You are truly dreaming, China is the largest producer of solar electricity while the U.S and Canada have are shutting down coal power plants. The GM and Ford you are on survival mode.

oyeb15:
All I care is fuel price should come Down to 300 per litre whether they are buying directly from lizard or cockroach

When you wake up from your dreams, let me know.

Kam2021:
Why increasing landing cost for imported fuel again?They don't just want Nigerians to enjoy cheap fuel.

Cheap imported petrol with secret illegal subsidy after subsidy removal.

Arostar2023:
Oga forget about electric cars. You never get electricity for homes and industries and you are talking about electric cars. People never get money buy tokunbo petrol car na electric car dem go get money buy? And who told you that oil will phase out in the next 10 years? Developed nations are still burning coals, which is a worse polluter than petrol. And people in countries like Nigeria is making noise about the climate

When you wake up from your dreams, developed countries are shutting down coal power plants, filling stations becoming charging stations while Nigerian is a tinkling time bomb waiting for futureless refineries.

forgiveness:
Minimum wages should be counted per hour and not per month. This will go a long way to reduce poverty. A minimum threshold of 2k per hour should legislated for unskilled while a skilled graduate should earn more than that.

People can work in many places and earn at least 320k per month if one works for 8hrs (8am-5pm, minus 1hr compulsory lunch break) in a day for 5days (Monday - Friday).

Any one who cant afford should reduce to the hours you can afford.

The higher the minimum wage in naira, the higher the prices of commodities in the market.

persius555:
We are edging close to a dollar for a liter of pms. Please how much is a litte of gasoline in the US. Covert $0.85 to naira at a rate of 1600. Gasoline is 1,360 naira in the US and over 1,400 in some places in Nigeria.

We're been scammed

Compare the prices of American crude grades to Nigerian crude grades, American petrol grades to Nigerian crude grade and eliminate all non-crude based petrol.

skywalker240:
Sir, I never called you an idiot, i was only making reference to the fact that Dangote is Dangote, but the ever forgetting gullible citizens fell for his antics.

NNPCL has been useless from time immemorial, but it is foolishness to believe that someone who increased his price of cement and sugar without excuses would be a a savior for fuel prices like gullible citizens believed.

It is more foolish to expect the prices of Dangote cement to remain constant while vote in leaders that devalues the naira.

Asquare84:
With this current price will it still be profitable for smugglers who smuggle Nigerian oil to neighbouring countries?

The high the price of petrol on naira, the lower the price in CFA, the higher the profit made by smugglers, the higher the rate of smuggling and finally, the higher the stupidity of Tinubu supporters.

ayufun:
As your banks. Are they not the first to start selling cash to POS operators, now people rather sell their cash than to deposit in the bank and the circle continues.

This is the new trend, money ain't go to the banks anymore, we keep on circulating amongst ourselves.

Decentralization is gradually taking over, crypto economy in view.

klawaaa:
Great one... Our dependency on foriegn currencies is dimishing. Now, would need neigbouring africa countries to purchase the refined oil with dollar. That would boost our foreign reserves.

Neighbouring countries that are planning to sell excess electricity to Nigeria will now leave electric cars to buy Nigerian petrol, can you stop dreaming for once and face reality.

commoditiesnig:
Very good move. Will surely reduce demand on USD and add more value to the Naira

How does trading crude in naira reduces the demand for dollars when Nigerians depends on foreign products and CBN prints trillions of naira per day?

tnerro1:
Nice , so if prices reduce, wat will happen to those who have converted to CNG😁

Prices reduce ke? CBN is printing trillions of naira to pay the new minimum wage and petrol is hitting N2,000 with heavy subsidy after removal.

GboyegaD:
Not sure I understood the message. Dangote refinery will supply petrol and diesel of the equivalent in Naira. The other by products, will those ones be supplied/sold in USD? I am still not sure why the government is trying to be so involved in Dangote refinery. It will stifle competition with the modular refineries coming up.

The modular refineries that started operations 4 or 5 years before Dangote refinery is still coming up? Are you dreaming?

Iruis:
This will go a long way to strengthen the Naira. Gradually Nigeria will be great again

Not with CBN printing trillions of naira into circulation or minimum wage increased to 70k nor Tinubu government celebrating Nigerian GDP growth in naira. All indicators that naira will N3,00/$ in no time.

Justnation:
If he is a Nigerian, 20 heavily armed mobile policemen will be guiding him where he is seated waiting for the hotdog, while another 20 mopol fully armed will be pointing there guns at the hotdog and chasing people away from the road while escorting the slave that was sent to purchase the hotdog

Nigerians will surely show themselves

American has laws that allow private business to open armed security companies and elites like Bill Gates ones owns one. While in Nigeria, arms allowed are limited to government security agencies e.g police, army, Civil Defence etc. Don't be deceived!

[quote author=ivandrag0n post=132155165]This is the only thing so far that I think Cardoso hasn’t gotten a hang of.

No matter how much cash the CBN pumps into the system, it will not get to the end-users because of very corrupt bank officials who always give it to Cash paypoint operators. They charge a lot of money to give the cash to those people (multiple times the charges their ATMs can charge those who withdraw through them). That is the main problem.

The solution to this is to ban the operations of those Agents in urban centres where there are good ATM coverage. Their services should be limited to the rural areas and places where distances to ATMs are too great to travel.

Once that is done, you will see cash suddenly return to the ATMs. The Banks in Nigeria are very corrupt & hugely greedy and they are the problem with a lot of things.
[/quote/] Are you aware that putting more money into circulation depreciates the value and increases the prices of commodities into the markets.

Blitzking:
This is where we have to be truthful with ourselves..stop subsidy completely and let market forces take over..if they feel they can import it cheaper good.

Market forces ke! Why has the marketers refused to import the foreign petrol that is cheaper rather, they NNPCL to import and subsidized to make cheaper?

Eteka1:
(1) Jordan and many other Arab Gulf countries are also oil dependent economies yet no disaster. So your assertion is wrong.

(2) It will take more than a decade for Nigeria and other African countries to totally switch to electric cars. It hasn't even happened yet in the US, Europe, Australia, China, India, Canada etc. Despite the available infrastructure. So you are wrong again about that.

It is the same Middle Eastern countries that have a booming tourism industry which is one the largest forex avenue compare the to the peanut called oil money.
The China is mentioned has the largest number of electric cars by country while Europe is number one by continent with China been the major supplier. The African you are looking up to has more electricity and electric cars, trains than Nigeria.