₦airaland Forum

Blitzking:
If we practise deregulation and his is still more expensive we have no choice but to dump his pms let him export to any nation he so desires...at least he will pay tax...if we love dangote we should sell him crude as he so desires in naira and then we can say we are interested in moving forward as a nation.

A deregulated imported petrol from Europe without subsidy will not be less N1,500 at pump which according to you is cheaper while deregulated Dangote petrol is N1,000 at pump is expensive.

Eteka1:
Looking at the document below, it's crystal clear that Dangote Refinery can boost Nigerian economy and bring down petroleum prices.

Right now he is buying a barrel of petrol at the equivalent of $72 per barrel (which is N117 Naira per barrel).

- each barrel produces 85 liters of petrol (which is about %53 of what comes out of a barrel of crude oil).

- When Dangote starts selling in Naira from the 1st of October, it will relieve the pressure on Naira by 40%. Because importation of petroleum products accounts for %40 of the Forex demand currently.

- when there is 40% less demand for Forex for importation, the Naira will strengthen to about N1000 to $1.

- that means Dangote will be using N72,000 to buy each barrel of crude oil as against the N117, 000 that he is using to buy each barrel right now.

- with that, the pump price will drop by about %40. (From N1000 per liter of petrol to N600 per liter of petrol).

- They stronger Naira will also help reduce the inflation that is biting Nigerians right now.

Not with Tinubu borrowing loans to pay loans, CBN printing trillions of naira daily, banks being recapitalized or minimum wage been increased in naira. Forget about naira appreciation and price reduction and plan how to survive the disaster awaiting Nigeria been an oil dependent economy when renewable energies and electric cars are taking over. Dangote refinery is a futureless project.

FourQu:
To set up solar would cost nothing less than N1.8 million for a 2 bedroom apartment

Tinubu hasn't effected the minimum wage increase yet 🙄

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

Snowx:
Dangote himself is greedy. People think price of petrol will reduce, forgetting what is happening to the price of cement..

The price of petrol will reduce when Tinubu promised to reduced your purchasing power during his electoral campaign? Or have you forgotten that imported petrol is cheaper than the cost of production in European refineries because of the secret subsidy from NNPCL been the sole importer?

Blitzking:
If dangote fuel is more expensive..let us dump his oil and continue importing...he can sell to any other nation he so desires..govt can decide to tax him heavily if he wants to reap Nigerians .

Are you aware of the N700 subsidy paid on imported petrol?

IdeasYapayaski:
It is common sense.. nothing is needed to defend it. We have everything!!! Including common sense.

It is also common sense to know that naira appreciation against dollar requires Nigerians spending less naira on foreign products and mores dollars which Nigeria is not earning.

jmoore:
NNPC is the cabal. Government is the cabal.
Why can't they be the sole buyer of Dangote cement too?

Is cement subsidized like petrol

IdeasYapayaski:
Remove the three Zeros, and naira will have same value as USD.

with billions of dollars flowing from your pocket to defend it.

Judolisco:
What else are you subsidizing? The crude oil is gotten from Nigeria, it is refined in Nigeria.... No more transportation cost.... So what else are you people subsidizing.....

Dangote said his company is capable of supplying the entire nation, is it not common sense to buy from him... Some idiots started shouting monopoly..... Shey we dey craze for dis country..... Na dis fuel matter no go allow tinubu win 2nd term.... Infact anything less than 400 per liter na stone people go stone if he comut to campaign

Petrol price should be less than when we were refining abroad.... E be like say d true cabals Don dey show now.. Some people don't care if Nigerians perish as long as they make their money.... If not you that have closed your filling station for almost a year suddenly opened it and started selling your fuel for 1500... Na we dey do ourselves

Have you asked yourself why petrol sells cheaper than in Nigeria than the refinery in Europe or NNPCL being the sole importer?

AerialMapper:
Dangote playing stupid games.

You are selling all your other products, Cement, sugar, noodles, salt straight to consumers. E reach PMS and all of a sudden, you cannot fix a price and you are waiting for one buyer!

We know you want to help the NNPC cover the rot in the system because as you stated, you can track the daily consumption of Nigerians. The NNPC wouldn't want Nigerians to know this cos this is the basis of the subsidy scam! Rather they want to off take your PMS so that this data remains unknown and they can continue the embezzlement

Are cement, sugar, noodles and salts subsidized the same way petrol is heavily subsidized and regulated after subsidy removal and deregulation?

baralatie:
The last president cancelled rights of private party to import fuel and gave the license solely to the nnpc and nnpc gave the 5 make marketers slot to import on its behalf🤔
Complicated

So, NNPCL being importer is being illegally after subsidy removal that last president signed into law.

SlavaUkraini:
The same way you need a generator to power your home appliances,

That is how you will need that same generator to recharge your car when you buy one.

Why will I used a generator when I have clean and free electricity from my rooftop solar PV panels?

Saladdin:
It's even worse than that. Bulk of their wealth is only "academic wealth" and not the real wealth.

Practically none of those Billionaires with the exception of Bill Gates have up to $1 Billion Dollars in cold hard cash.

In the grand scheme of things, Mr. Musk is a low-tiered elite whose wealth and entire life can be ruined by the REAL elites.

Wealth calculation by the like of Forbes, Bloomberg and Co. are done based on stock market capitalization and not hard cash. Networth = Assets-liabilities

Pluto33:
Source:https://www.vanguardngr.com/2024/09/obasanjo-gowon-started-fuel-subsidy-impi/

Whether the economy was bouyant or not, every nationalized organization was subsidized until it shut down, commercialized or privatized. All government universities, colleges and polytechnics are subsidized, government hospitals subsidized. Defunct organizations like Nafcon, Nitel, Ajaokuta, Delta steel, Benue cement where subsidized. The Nigerian Railway Corporation (NRC) is subsidized.

Dannyset:
Why is Dangote not selling to other Marketers? Must it be NNPC?

Or Dangote is looking for who will take the heat incase the price per litre is too high for Nigerians?

Why are others marketers not importing apart from NNPCL?

SlavaUkraini:
Nigerians are finding it difficult to even charge their phones.

Even the Son of your president is using power bank to charge his phone inside Aso Rock villa.

Nigerians are finding it difficult to charge phone,

na Motor dem go come see Nepa light to charge ?

Your comment about the president son using power bank is illogical because power banks are designed as a small handheld mobile backup battery for easy charging at any location. Is just cars having spare tyre under the bonnet or bottle waters.

Abujaexpress:
The competition between Dangote Refinery and NNPC products will be too good for Nigerians

When last did you treat malaria?

Godfullsam:
You are very smart

Those blaming nnpcl on this matter are just being silly.

Dangote wants to sell petrol to Nigerians at a price much higher than the imported price.

That is bull shit !

He wants nnpcl to be the sole buyer so that they can be buying it from him at exorbitant rate and sell to Nigerians at subsidized rate.
Meanwhile, nnpcl is prepared to do away with subsidy ones and for all as soon as we begin to produce PMS locally.
That is why they quickly adjusted the price of PMS to the real price the moment dangote announced his readiness to sell petrol from his refinery.

Have ever asked yourself while a litre of petrol imported at N1,200 without logistics and taxes sells N800 as pump price with NNPCL being the sole importer?
If common sense was common, you know that petrol is heavily subsidized after subsidy removal.

Sheerbliss:
It is not by force for NNPCL to be the sole buyer. Dangote should sell it to independent markers. Why is he insisting that NNPCL should be the sole buyer. Let the market be free and competitive.

Dangote is not sincere if he wants to export PMS instead of selling it to independent markers who are willing to buy. Something is wrong somewhere. Dangote motives are not clear. He wants to cage the NNPCL so that he can now be the only person producing fuel. Allow the market to be free so that other investors can come in.

While not go and buy from Dangote refinery and watch buying the same petrol but subsidizing 50% below the refinery price, pushing you out of business while claiming it is not subsidy but shortfall.

loffers:
Why blame NNPC?
It should be a free market, sell to Marketers at a good price that will favour the masses and also not affect your profit.
If your price is good enough, NNPC and other Marketers will not import PMS again, they will rather buy from you cos it's cheaper.
If the landing cost of importation is lower than your price, then no point buying from you.

A free market with NNPCL subsidizing petrol after subsidy removal, what a joke!

loffers:
That is the question everybody is asking.
But he wants FG to fix the price.

Petrol is heavily subsidized and regulated by the federal government and that is while NNPCL is sole importer and will also be the sole distributor of every locally refined petrol in Nigeria.

OMBIIGA:
The NNPC Ltd spoke person is spot on, the NNPC shall and will never be the sole offtaker be it in the short and medium term. The critical role being played by NNPC is that of consumer protection as part of its energy security mandates enshrined in the PIA, 2021.
To buttres the solemn mandate, as it were, the demand for PMS is perfectly inelastic demand as it usage is akin to the importance of oxygen to humans so is PMS to the automobile transportation ecosystem.bit
Conversely, irrespective of the price of PMS the demand is steadfast. Hence, the instrument of state is needed for consumer protection!

While NNPCL is the sole importer because of the illegal subsidy after subsidy removal, continue to defend rubbish!

baralatie:
🤷
Imported is #897 to #1000 nnpcl
Dangote yet to tell us his own
Which of the two is even serious🤔

And people were believing for #600 per litre fuel price🏃🏃🏃🏃

With N700 illegal subsidy for every litre of petrol imported NNPCL

DeLaRue:
Good decision by NNPCL.

Why should okada man and ordinary drivers be forced to pay more for Nigerian-produced petrol if they can access imported petrol at a cheaper price.

Thank God the government did not agree to stop import of fuel.

cheaper price with illegal subsidy after subsidy removal

Tjra:
What is difficult in Dangote letting Nigerians know how much a liter of PMS cost at his refinery?

With this information, we will all know who to hold responsible.

I still don't understand the hide and seek games.

Why it is difficult for Tinubu to tell Nigerians about the illegal subsidy is paying to NNPCL?

Sheuns:
Since NNPC has denied being the sole off taker from the refinery, cab the refinery tell us how much a liter will cost from them. At least we can compare with the imported ones and decide.

Also, compare the N700 subsidy on imported that has prevented it from N1,500/litre

Tetraozonaitera:
The day we have right thinking government everything will be regulated and not by any market forces.
As if the oil producing Arab countries dont have market forces that fuel is being sold like water.

A president that is ready to do it will fix it damning who ever's foot is stepped on.

Nonsense and watery ingredients

and the subsidy being paid on petrol is not regulation abi?

Thewrath:
If we don’t get reasonable price for fuel,then the refinery is of no use,let them scrap it to iron condemn !!

Just take a look at how this is falling APC cheap tricks!

Totalrecovery:
Oga Bua, watin concern dollars with cement manufacturing, no be for Nigeria here you dey tap lime stone abi you dey import your own??

How is your naira valued?

Caskdoe:
No. Dangote is monopolizing everything in Nigeria. Emefiele gave him dollars at cheaper rate and loan him money. Have you ever heard where a central bank of a country is lending money to an individual

When your economics teacher was teaching about financial derivative market contracts (future contract), you were busy writing love letters.

crestedaguiyi:
you would not have reached were you are if not for Northern governors and presidents support.

Its actually crazy to have one of the richest men in the world come from one of the poorest nations of the world, it clearly shows usurpation

Been the richest is having more assets and less liabilities not your Igbo brothers keeping money in bank account and spreading it at ceremonies.

CodeTemplarr:
That's for people buying crude and not a govt that has unfettered access to crude oil. I already stated it will reflect as a shortfall in crude oil revenues so stop trying to be unnecessarily argumentative.

According you, the government will have zero cost of crude production simply because they government?