₦airaland Forum

Standing5:
The NMPRA guy is who I was referring to. He has power to sanction Dangote for bad fuel. Besides bad fuel quality is easy to ascertain. Just buy few litres sample and sent to labs outside the country for tests and the fowl yanch will be exposed.

But these same NMPRA approves the low quality petrol imported by NNPCL European Union?

Urgent1Million:
I'm surprised that some people are surprised that the NNPC and the syndicate would do everything possible to frustrate Dangote and his refinery.
Why do you think they removed public subsidy and keep subsidizing the supply from NNPC?
Other fuel station owners could not keep up since NNPC was selling below the landing cost of petrol. They had to sell their stations to NNPC. With over 80% of fuel stations now owned by NNPC, who do you think will buy refined petroleum products from Dangote refinery?
Did you hear that the NNPC refused to pay their outstanding money for the stakes they acquired in the Dangote refinery?
It's a ground plot to keep the prices up.
By the time they complete the take over of all the fuel stations on Nigeria, they'll take the price of petrol to #1500 and we'll be left with no choice than to buy from them.
The only thing that Dangote can do now is to build fuel stations massively across Nigeria and sell his own products.

I agreed with on NNPCL strategy but it good let NNPCL do it since majority of Nigerians have decided to be blind. Currently, NNPCL imports inferior petrol from EU at around N1,300 and pays around N600 subsidy to make N700/litre while claiming subsidy has been removed. The local refining cost of petrol is over N1,000/litre and for this both modular refineries and Dangote has avoided petrol production.
Now, if Dangote refinery sells petrol at market price of N1,200 at the refinery, there will be a uproar from nook and crannies of Nigeria but if NNPCL does it. It will be accepted by all because NNPCL is owned.

Blitzking:
That 20 percent stake was that good..It was just manageable should have been 50 percent. Now they have been used..while dangote keeps getting richer and the Nigerian state keep getting poorer..now this is going to continue till the masses lose regard for their lives and all hell break lose...the uprising.

To be sincere, your comment displayed ignorance. Dangote cannot richer as Nigeria get's poorer.

DrKlever:
How are Indians that poor with such huge GDP. Abi their huge population is not productive enough for a decent per capital income.

You have the answer to your question already, India being the world most populated country reduces it's GDP per Capita.

real691:
More job loss coming.

This is the era of machination of things.

Do not rely on a job

Learn a 21st century skill.

Do TECH

AI is taking over the world

allthingsgood:
So it's not only Nigeria abi. Guess they are feeling the global economic downfall
Where are our national haters and predicters of doom

Artificial intelligence is taking over the workforce

oluwaseyi0:
What's really going on

Are companies finding better and cheaper means to produce or they are just reducing production capacity

Artificial intelligence is will continue to cause unemployment.

ahmedio2017:
Lolzzzzzzzz u really made me laugh.
You wanna give USA as instance ba? Privatisation is meant for developed country and not developing country like ours. That is built on corruption...

China became developed by privatization

erico2k2:
to buy Crude in Nigeria will be cheaper
Reasons

Cost of logistic is relatively cheaper as the Niger Delta is closer to lagos than the US
No Import duty will be paid in Nigeria
he could chose to pay the naira Equivalent of the crude with proper arrangement
The FG has or own %20 stake in Dangote refinery.
Limited entrance to international waters and taxes
No export duty from Host country
You want more reasons why it would have been cheaper to buy from Nigeria?
By the way, Nigeria has a type of crude Bony Light crude(Low Sulphur and Low density) which is easier cheaper to refine, hence the boys in the creek are refining. There are other stuff i can talk about but they wont make sense to you as you aint in that field.

All those factors you are irrelevant, because what is considered in international trade is comparative advantage.

franchasofficia:
Continue deceiving yourself. Didn't you say it will start operation in September initially?


They haven't even installed a tested and working cracker but he is here trying to scam the whole nation again like he always does and gets away with it.



The dollar scarcity and FX crises Nigeria is facing today is because of this same greedy mofo called Dangote.



Aliko Dangote is one of Nigeria's many problems holding Nigeria's general economic development down, but to hungry uninformed online sycophants, Dangote is a blessing to Nigeria, mumu citizens of a failed nation

When you are shifting blames, continue to support bad governance and expect magic and saying Dangote is the problem of Nigeria looks stupid.

NADESMAN:
The game we do not understand is that Nigeria has been borrowing money from America,China,etc and the only means of payment is from crude oil.

So this countries have deal of drilling oil for many years to recover their money.
That is why Dangote will go to America to buy oil that they took from Nigeria

For those of you thinking that Dangote refinery will make a change in petroleum products Availability,you all have entered one chance.

You are wrong, oil, gas, diamond, gold, stocks, crypto, forex etc are globally with futures, options and swaps contracts through the derivative market and forward contract through OTC. Running a business with spot markets is simply inviting bankruptcy.

bravehost4u:
It is just a cycle of madness.
Export Crude use the FX to import crude and refined fuel and export crude and fuel

Just tell me this is not madness.
And when you try giving explanations, check yourself well, you may be accustomed to the madness norm

The only madness here is when you failed to understand comparative advantage.

bdon12:
There goes our cheap PMS.After all f foreign exchange that was sold to dangote at official price.same government sold future crude to collect loans thereby leaving dangote without crude supply.

A simple research will help a lot, serious are conducted through the derivative market where futures, options and swaps are traded.

Nazgul:
Nigeria's crude gas been used by our greedy politicians to collect loans running into billions of dollars. So technically we don't have any crude oil, cos any vessel leaving the country has already been sold.

That's what dangote is facing. Why do you think he has been ranting lately. He too isn't finding it easy as well.

Oga, serious business takes globally on the derivative market contracts like futures, options and swaps and also OTC like forward contract.

ahmedio2017:
Shut up your mouth, I don't know what exactly you this people want, you will keep on shouting government should privatise privatise.

Now look at the results, privatisation is and can never be the solution to our problems...

We should rather pressurise the government irrespective of the tribes to get to work. We kept playing blame game instead of us to tackle our oppressor. Chai o ma se o, it is a pity.

Are you aware successful are economies runs on private sectors?

SaturnNick:
Something Nigeria has ooo. What a shame

Are aware that US is the largest producer of crude?

StormpyBee:
I don't understand this news.

How can a company, located in an oil producing country be importing oil. There's something wrong with this country. Its apparently say, na we the do ourselves. Chi!

What a shame of a nation!

NNPC is a big fraud!

I am ashamed!

Comparative advantage is has become rocket science in Nigeria.

Funkyswagzz:
That means the United States is in total control of Nigeria

Have you ever wondered why Nigerians where eating cheaper Thai rice some years ago or will I say "Thailand is in total control of Nigeria".

freemanq:
Says who my dear ,so why did your president announced end of fuel subsidy?

Without subsidy, a litre of petrol will be selling above N1,500.

Eteka1:
That's because US made weapons are overpriced. The military industrial complex in the US charges it's government many times the amount it's weapons are worth. It's all part of corruption in the deep state of the US. For example a US tomahawk cruise missile costs $2 million while the Russian equivalent the Kalibr Cruise missile costs $900k. Yet Russian made weapons have proven to be more effective than US ones in Ukraine.

One fact you have failed realized is that, measuring American economy in dollars never gives the real economic value. Every other on the list have it's defense budget running in trillions of their dosmetic currencies but reduces when converted to dollars. As cost of production, American having a more valuable currency to Russian and high income will always have a higher cost of production.

Menclothing1:
Good investment

Wrong investment, using oil and gas to produce fertilizer when climate campaign is taking place.

Bitterkola100:
kids

Are you expecting Dangote refinery to start running with petrol subsidy regime?

Mckraz01:
Abeg when are we going to be buying fuel for #200/ltr...?

When will you stop deceiving yourself?

freemanq:
This would have been done in the first month of this administration without removing fuel subsidy

Petrol is heavily subsidized

Funkyswagzz:
That means the United States is in total control of Nigeria

That means you misunderstood my comment

grandstar:
Good. Yes,higher interests will lead to strengthening of the Naira which would naturally lead to a reduction in prices

Strengthening of naira without Nigeria exporting and finished product to earn forex?

wallrichy:
You know that with all these hard stance on Nigeria economics geometry. The commercial banks are still turning out large profits, declaring profits in a dying economy. Production companies are dying every second, inflation is killing the masses rendering the little they have to be valueless, savings ain't yielding profit any longer and interest rate on loan has been jerked up to almost 30%. How do you even expect to payback if eventually you are granted the loan at such a ridiculous rate together with the bribing of Banks Managers etc .to effect your being granted the loan. I am so tired, very very tired. This country is killing people.

Which large profits are commercial banks turning out?

Raph82:
Nigeria is selling crude oil to the US, Dangote
refinery is buying crude oil from that same US for operation. I don't get it, are we normal at all?

Comparative advantage

LaIabobo:
Lol Nigeria ehn.
IOCs would rather sell to foreign countries because they need dollars instead of selling to Dangote in Naira
Person wey swear for naija no do well

Are you ready to have an exchange rate of 50 million = 1 USD?

Mandem05:
I don't understand this exporting of crude when we have Dangote refinery importing crude oil from the US and other countries. By supplying Dangote refinery we can safe a lot costs as a country. I just taya sha.
It should not be that difficult to figure out. NNPC!!! act now and bring a little respite to Nigerians plight!!!

Will you save cost with Nigerian being the world most expensive crude instead of employing comparative advantage?

ibabz:
17 Trillion in 9months and this government has borrowed more than any government in 1yr in office.

These criminals are quoting oil revenues in naira they devalued to make look big instead dollars

Funkyswagzz:
Wait o dangote goes to US to buy crude and Nigeria is going to sell crude to US? Hmmm I can't believe this😳😳

international trade operates by comparative advantage