₦airaland Forum

malali:
This is exactly why Nigeria's energy sector needs brutal competition, not one man's benevolence.Dangote wakes up, slashes petrol by a miserly N75 to N1,175/litre after global crude crashes, and the entire country is supposed to clap?

Nigerians went from ~N830 to over N1,300 during the crisis, suffered, and now we're begging for crumbs from a single refinery that still cites "expensive crude in tanks" as an excuse not to drop prices faster to N900 or below.This is monopoly pricing dressed up as mercy. One company, one man, controlling supply, dictating gantry prices, and holding the market hostage.

No real pressure to be efficient, source cheaper feedstock aggressively, or pass on savings quickly. When crude spikes, we all bleed. When it falls, relief is slow and partial.Open the market properly. Let legitimate importers bring in fuel freely, compete on price and quality, and force everyone, including Dangote, to earn their margins daily. True free market discipline beats regulated monopoly every time. Nigerians deserve cheaper fuel from competition, not prayers that one refinery feels generous after global events. Monopoly isn't "local content." It's economic capture.

Dangote is now slow to reduce the price, but when the war started, it was increased to 1300naira in 24 hours, we didnt hear about waiting to exhaust the cheaper crude feedstock, before prices are revised.

When citizen's of other countries were demanding for subsidy and tax relief on energy, some people were quoting imaginary competition theory.

OnionBandit:
Most of the time, the profit isn't real. if you are conversant with what's happening in the world of finance, you ll know what I am talking about

How is the profit not real?

OnionBandit:
All these banks with their "funny" profit declaration every year.. but when the cbn raises minimum capital requirement, you ll see them issuing new shares, because they don't have enough in their retained earnings to meet it.

Well, except they are ghost earnings

What is funny about there profits declaration?

Mynd44:
Nice one

Unlike GTBank whose FYR last year was disappointing and they blamed it on everyone but them

Which Nigerian NGX company is GTBank?

Bernadette9:
It's do pathetic to see banks Nigeria make profit at the expense of poor Nigerians.
How come banks Opay don't charge the charges what these regular banks charge?

Have you ever wonder while he same Fintechs charge high interest rate on loans?

Adewale1603:
So redmi no dey.




Hhñjhhgggjnñjjjhhggffffff

Redmi is part of Xiaomi

kimjessey2019:
Dangote is another problem we have in this country.

Says another solution who is waiting to vote in the next bad government

lightwind:
Coming from a poor country like Nigeria.

Poor roads network
Poor infrastructure
Poor poor everything...

Insecurities, hunger.

Richest man my foot!

When the next election comes, use tribe and religion to vote in bad government again.

kenlinzo:
It's so unfortunate, that a man's net worth can be equated or more than some nations in the world.

I know we have more than one of this kind of men in Nigeria yet, nothing to show.

It is so unfortunate that a fellow citizen's success is your greatest problem after using tribe and religion to vote in bad government

Segzy19:
Obasanjo made Dangote the richest Nigerian man and even the richest African

How did Obasanjo made Dangote the richest Nigerian?

madridguy:
A country without a drop of oil They steal to the top.

Without a drop of oil?
Where did you hear this lie from?

bentenny:
Nice one!
Even before pms hits 5k per litre,that president would have been chased out of office!
Keep playing!

Iranians buys a litre of petrol between 15,000 and 55,000 rials. Have they chase there Supreme Leader out of office?

Watianoengineer:
He should call Elon Musk to dash him the $1BN out his new $1TRN fortune.

Why don't you call Elon Musk yourself and let him give $1 billion since you think networth is cashg

GodCovenant:
And what makes it value at $40b?

The way you people are calling billion anyhow eh. Most companies always overvalued when they want to seek investment or sell shares.

How are most companies overvalued?

qualitymart:
Despite massive embezzlement of funds, non of the Nigerian politicians can smell such feat

Kill corruption, don't kill Nigerians

How many politicians have you seen on Forbes list?

bentenny:
Lovely!
3-4m!

Also lovely
200k-300k per litre of petrol

bentenny:
Using your pms benchmark,then a realistic minimum wage is 900k to a million!

Using your 900k minimum wage benchmark, then a realistic 20,000 to 30,000 per litre of petrol.

bentenny:
A realistic minimum wage would likely be between 150k to 200k.

A realistic petrol price of 5,000 and 7,000 per litre

forgiveness:
My suggestion is 5k per hour for 5 hour per day for civil servants.

Resume work by 9 am prompt (deduct salary for late comers). Work from then till 12 pm. Then go for break till 2pm. Resume at 2 pm and close at 4pm.

That is 25k per day. 125k per week and 500k per month.

Imagine a litre of petrol selling for 5k

Bluntemperor:
GEMCO, DISCOS, and TCN - including the NNPC- are burden to NIGERIA and they should All be Scrapped,so we have Peace in Nigeria.
Imagine the Big lie that- NNPC is Making Profits - for a Company that CAN'T PRODUCE in all the 4- Refineries in Nigeria,so how do they make the Imaginary PROFIT ⁉️

Nigerians are always funny!
We know the problem of electricity in Nigeria lies with TCN and the federal government, but blame shifting is preferable to feel good after using tribe and religion to vote in bad government.

NwokoloOwa:
After he will say tax is killing him that's why his cement is expensive. But they are getting richer everyday with our blood.

Him and his brother in crime, very dishonest and wicked guys

You voted Tinubu who promised to reduced your purchasing power into power and asking why cement is expensive?

gideonvalor98:
You earn billions of naira from your YouTube earnings posting your films there but you're here complaining despite not paying your normal tax. Don't worry by the time y'all evaders are held accountable, we'll see the new form of complaint from you.

Who told you that those who earn money on YouTube don't pay tax?

XtremeConsumer:
Nigeria has always been poverty capital of the world..

And how does it relate to the fact that your governor in abia is not paying minimum like the rest of the governors yet somehow tagged the best governor..

If you are not ready to answer, abeg stop quoting me.

Just accept the fact that you supported the disaster called APC

XtremeConsumer:
how is purchasing power relevant?

If I earn 70k, won't I be able to purchase more stuff than you that earn 50k?

What kind of question is this?

Only in a APC government that the purchasing power of naira became irrelevant!
No wonder Nigeria became the poverty capital of world after APC step into power in 2015.

valuedammy:
We lack it, that's why the price is increasing.

Supply is far lower than demand hence reason for high price.

Who is the we?
Are Nigerians complaining of scarcity of LPG or high prices?

KillahPriest:
"...Industry analysts said the lopsided supply, which had been in place during the years most Nigerians were not using gas for cooking, can no longer continue..."

BULLSHXXT

This looks more like it

"...Data obtained from the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, showed that 62 per cent of the total gas output in the first two months of this year was exported, leaving only 38 per cent for domestic market..."

Economic sabotage if I may say, the local market must as a matter of policy be serviced first of all before international market so, what's going on ? We export out then still import at considerable cost to make up shortfalls. Weird country

Economic Sabotage?
Do you expect gas companies to force a product that majority of Nigerians can no longer afford on them?
Are Nigerians are too quick that Tinubu promised to reduced there purchasing power during his electoral campaign?

PulaPower:
It’s not lacking gas..

This is the problem.. Financial Vanguard findings showed that some producers are focused on exporting the product rather than meeting domestic demand.

Some producers prefer to export gas, rather than sell here in Nigeria, because of more profit..

Buying and selling takes place where the buyers has the purchasing power to buy what they what. Since the government and Nigerians believe that subsidy is free money for the rich, the same product the government refuse to subsidy will always be sold to countries where government subsidizes because there citizens has the purchasing power.

MaziObinnaokija:
Then BRING BACK OUR KEROSENE

When last do you check the price of kerosene?

TheMensch:
Una don come to explain and defend rubbish. Why is demand for gas more than supply? Crude don finish abi they don bomb the refineries? Una just wan increase the price to gain more profit. Make una leave all these plenty talk.

In 2026, you still believe the fairytales of demand and supply for a physical product?

CodeTemplar:
A nation building pipeline to europe is lacking gas.

Be sincere with yourself, are you lacking gas or suffering from high prices of gas?

TenderManiac:
In other words, the price hick is artificial. It was created by the rich to choke the poor.

So the prices of natural gas and crude oil increasing in the global due to Middle East crisis where also artificial?

XtremeConsumer:
same value as other states governors that are paying minimum wage.

I asked about the value (purchasing power) and not volume