₦airaland Forum

pluto09:
Petrol might be N2000 in Nigeria soon.
It is not looking good.

Oyedele in discussion with Dangote and importers to see if they can cap at around 1350 which would mean the average retailer should not buy above 1450 no matter what. However when prices fall, the pump prices would not fall immediately as they try to recoup.

AMINDA:
Is Tinubu funding his budget? He is currently implementing 3 budgets concurrently with abysmal budget performances. Contractors are protesting everyday in Abuja due to nonpayment while ministers are complaining of only receiving 34 million naira as capital budget. Yet, Tinubu has outborrowed Buhari who funded subsidies and still funded his budgets conveniently with a January to December budget cycle. Buhari is a better economist and manager of the economy than Tinubu.

The only person making progress are Tinubu, Seyi, Remi and probably Chargoury. The rest of Nigerians have seen their purchasing powers reduced. You can continue to preach to the choir about "bold reforms" and "temporary pains." Nigerians will probably reap the gains of the bold reforms when they are dead.

Tinubu have not out borrowed Buhari. He met a debt of $113 Billion and debt is currently $120
Billion

GeneralDae:
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Dangote Petroleum Refinery produced 47.22 million litres of Premium Motor Spirit (PMS) per day in September, with 28.5 million litres supplied to the domestic market.

NMDPRA disclosed this in its September 2026 ‘State of the Midstream and Downstream Fact Sheet’.

The data released on Thursday show that the refinery exported 15.47 million litres per day during the period.

According to the data, total daily production from the 650,000 barrels-per-day facility stood at 47.22 million litres per day, while domestic receipts accounted for 28.50 million litres.

For Automotive Gas Oil (AGO), the refinery production was 24.32 million litres per day, domestic receipts 8.14 million litres, and exports 15.91 million litres.

For Aviation Turbine Kerosene (ATK), production was 26.13 million litres per day, with exports of 23.25 million litres per day.

These show that while petrol supply tilted towards the domestic market, accounting for about 60 per cent of the refinery’s total output for the month, diesel (AGO) and jet fuel (ATK) were largely export-oriented.

“Petrol evacuation (domestic and export) ran 3.25 ml/d below production, raising closing stock. AGO and ATK exports outperformed domestic supplies. Petrol exports represented 35.2 per cent of refinery evacuation,” NMDPRA said.

Based on this information, my AI estimates that Dangote made $3.1 Billion from these products in September only.

Business is good for Alhaji

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Dangote Petroleum Refinery produced 47.22 million litres of Premium Motor Spirit (PMS) per day in September, with 28.5 million litres supplied to the domestic market.

NMDPRA disclosed this in its September 2026 ‘State of the Midstream and Downstream Fact Sheet’.

The data released on Thursday show that the refinery exported 15.47 million litres per day during the period.

According to the data, total daily production from the 650,000 barrels-per-day facility stood at 47.22 million litres per day, while domestic receipts accounted for 28.50 million litres.

For Automotive Gas Oil (AGO), the refinery production was 24.32 million litres per day, domestic receipts 8.14 million litres, and exports 15.91 million litres.

For Aviation Turbine Kerosene (ATK), production was 26.13 million litres per day, with exports of 23.25 million litres per day.

These show that while petrol supply tilted towards the domestic market, accounting for about 60 per cent of the refinery’s total output for the month, diesel (AGO) and jet fuel (ATK) were largely export-oriented.

“Petrol evacuation (domestic and export) ran 3.25 ml/d below production, raising closing stock. AGO and ATK exports outperformed domestic supplies. Petrol exports represented 35.2 per cent of refinery evacuation,” NMDPRA said.

Latest from Taiwo Oyedele on the economy.


https://www.youtube.com/watch?v=rQgNydtkQPE?is=U8jDgHVuq21D_gYM

Streetinvestor2:
https://www.nairaland.com/8770430/hardship-nec-endorses-90-day-plan

I thought they said we are all lying. That the hunger and poverty ravaging the nation was product of our imagination.
@ Agbalowomeri see your cbn moving exchange rate to 1k before December for political gains. And your type will be shouting free float..lol

Nobody said you were lying about hunger and poverty not even Tinubu himself.
Where we disagree is that we are fixated on what caused this hunger and poverty and the alternatives (ie were there better options to naira devaluation and subsidy removal?), while you specifically rarely debate that but you lean more towards politics thinking merely replacing one politician for another is the only answer.
I would have been willing to even lean towards this belief of yours if I thought the popular alternatives (Obi, Atiku, Sowore) had something to offer but I have listened to them and their policy flip flops(Obi, Atiku) plus simplistic ideas (Sowore) and I am sure they don’t.

mikeapollo:
Do pray or wish that your family falls under severe poverty since you think it is ''...better than allowing the country to collapse...''

The incompetence of a govt cannot be used as the standard for economic management. Others would have done it better

BAT saved my family and the Nigerian middle class from eventually falling under poverty by stabilising the exchange rate and making fx readily available (even though high). He has saved my family and yours by trying to get the fiscals and the macros right first. Without the macros, the micros would totally collapse immediately or be insignificant.

mikeapollo:
Do pray or wish that your family falls under severe poverty since you think it is ''...better than allowing the country to collapse...''

If the country collapse and you can’t buy bread for 5k and even with your more than 5k it’s not available due to scarcity and queues for bread everywhere, only the mega rich would survive. All of the middle class families would fall under poverty.

Scarcity is worse than high prices.

mikeapollo:
No country would collapse anywhere! Telling lies to cover up failures
Abeg, this govt is clueless, and inept.

Low net reserves, high fx backlog, dwindling fx from official sources for the private sector, high debt compressing NNPC due to a wasteful fuel subsidy, dwindling oil production, printing to sustain budget (23 trillion printed), etc has only one path and that is a collapse. A slow path but a sure path nonetheless.

When you disrupt that system it leads to an earthquake immediately which would then subside slowly but you have turned away from the path of destruction as long as you do not go back to Egypt and you do the right things

mikeapollo:
And 15m more people have been added to the numbers through Tinubu's policies or ''reforms''. I guess that makes you satisfied

Better than allowing the country collapse by continual pegging of naira and a wasteful subsidy.

mikeapollo:
You just keep going left and right, back and forth, giving inexcusable excuses, all in a desperate effort and attempt to defend a govt that is obviously clueless and inept!
The verdict is out there: Nigeria has become the poverty headquarters in the world because of the so-called ''reforms'' that you always defend.
Are you paid to defend the govt at all costs? Even official govt spokespersons are pleading with the people to bear with govt; but you are here justifying everything the govt did. Incredible

https://www.nairaland.com/8769732/tinubus-reforms-made-nigeria-poverty

Nigeria was already poverty capital of the world before Tinubu. Some years we were beaten by India but India overtook us again even before 2023.

Willie2015:
Ur theory sound good on paper....
But wont work in reality ....
Inflation always outpace wage growth rate in Nigeria...
The moment fuel prices spike, the cost of virtually every commodity skyrockets.
The damage to household purchasing power and the local consumer market happens immediately,
long before the promised jobs, investments and economic benefits materialize...thats even if they materialize
Businesses cannot thrive in a consumer market where millions of people can barely afford basic necessities.
Businesses will lose customers, lay off staffs and may eventually close up.
Acc to NESG, 30% of Nigeria's 24 million registered MSMEs collapsed due to BAT reforms.
That is a bad statistic for an economy that desperately needs job creation and private-sector growth.

Tinubu had options.
That is precisely why he is President.
His government could have considered a supplementary budget,....
It could also have accelerated domestic refining capacity ...
and rolled out viable alternatives before exposing Nigerians to the full shock....
He decided to chose the extreme path.

What makes the situation more troubling is that BAT has continued to borrow massuvely from
the World Bank and international debt markets,
while Nigerians still question the pace of reductions in the cost of governance.
Even, all the monies freed up from removing subsides has been completely wiped out.

Tinubu had options.
That is precisely why he is President.
His government could have considered a supplementary budget,....
It could also have accelerated domestic refining capacity ...
and rolled out viable alternatives before exposing Nigerians to the full shock....
He decided to chose the extreme path.

Well Tinubu did reintroduce subsidy from around August 2023 when the exchange rate kept going haywire. They only named it under security votes in NNPC records. This continued until Dangote started producing fuel in October 2024.

We weren’t even paying NNPC anymore as at May 2023. The debts just kept piling up and NNPC stopped remitting, so why should Tinubu given these circumstances, send a supplementary bill to continue fuel subsidy beyond June 2023?

The biggest issue in 2023 was not subsidy but getting the right exchange rate for the correct pricing of everything.

In 2022, a Nigerian business had a deal where they were to pay for goods worth about $30 million and they were to withdraw this from the CBN in tranches within a few months. In the first tranch, they could only get $15000 from the CBN. This was how critical the FX situation was at the time.

megawealth01:
Still not helpful especially to the plight of the masses

What would be helpful to the plight of the masses? Share money? Rice?

Willie2015:
The central issue is not whether Airtel is investing in Nigeria;

Airtel investment is not an answer to the immediate cost-of-living crisis.

It is whether the government adequately prepared Nigerians for the consequences of removing fuel subsidy.

if the government knew subsidy removal would raise transport and production costs,

Why wasn't a fully funded, transparent and effective relief programme operating before the policy took effect?

Just imagine the conversion of only 120,000 vehicles to CNG in more than three years, against an estimated 14 million vehicles on Nigerian roads.

Thats absolute failure ....Under 1 percent. ,,and u want us to be clapping of BAT

Airtel investment is not an answer to the immediate cost-of-living crisis.

Why not? More jobs and FDI’s like these equals increased purchasing power over time. Right or Wrong?

It is whether the government adequately prepared Nigerians for the consequences of removing fuel subsidy.

What in heaven’s name did you guys think removal of fuel subsidy was?

How would he prepare the masses? Buhari first announced removal of subsidy in January 2022 but later changed his mind promising to prepare Nigerians over an 18 month period with stuff like CNG but nothing much materialised and the Buhari Government in 2022 was contemplating using Eurobonds for continuation of the subsidy. So there was already an 18 month head start and no budget for subsidy beyond the 18 months which was to end in June 2023. If Tinubu continued beyond June all in the name of preparing Nigerians, he would never remove the subsidy. Let’s not deceive ourselves.

As for CNG conversion, the Government doesn’t need to target millions of vehicles. Just make the program easy enough for private investors to invest in, build the infrastructure and subsidize CNG conversion only for transport vehicles travelling between states and regions like trucks and the likes so that food transport is affected by it.

megawealth01:
WOW

So what's government doing to attend to these practically so that the masses can smile again?

Now we are talking.

megawealth01:
In your own words, what is the cause of the food inflation?

Naira devaluation, removal of fuel subsidy, lack of infrastructure, insufficient private led businesses to reduce post harvest losses, too many middlemen, over dependence on northern villages for agriculture.

Willie2015:
The central question is not simply whether investors are excited.

It is whether the reform generates sustained investment and productive capacity while improving the welfare of Nigerians.

Reforms should be assessed not only by their effect on financial markets, but also by their effects on SMEs, employment, purchasing power and poverty.

But Airtel is building data center and bringing in fx to do that. This would also create jobs thereby boosting the middle class . How would that not support the welfare of Nigerians? What in your opinion would support the welfare of Nigerians?

mikeapollo:
The food inflation was worsened because food commodities that used to come from the Sahel states (Niger Republic especially) e.g. beans, onions, tomatoes etc. stopped coming into Nigeria because of the break in diplomatic relationship as a result of the reckless attempt to invade them and the ultimatum issued to them by the Tinubu govt.
His poorly thought-out decisions and statements are responsible for a lot of hardships in the country.
His communication is very poor! A good leader should know how to talk to the public in public

Nah, old story. Niger and Nigeria have made amends since around early 2025 or sometime in 2024 even. Nigeria even had to supply them fuel at a time. That cannot be a major cause of the current food inflation.

megawealth01:
I am speaking from what I personally observed during my last visit to Lagos. Nigerians are going through a lot, and with the implementation of new tax policies and several other measures expected from next year, one cannot help but worry about how the ordinary citizen will cope.

I genuinely respect Jagaban, but all I want is a Nigeria where people can afford at least three square meals a day and enjoy a stable electricity supply. Where will the poor run to when the policies meant to improve the country become an additional burden on their already unbearable living conditions? The masses need relief, not more hardship, bayi.

I go to Lagos a lot and just left a week ago even. I am disgusted by the poverty and suffering especially where I stay mainly in Agege and environs. So I know Nigerians are suffering and things are very expensive, then what? What caused the suffering and what do we want? That’s my point.
I don’t know what tax laws you think would be implemented again next year.Tax laws took effect on January 2026 and some people (poor earners) actually saw a reduction in their taxes.

Is your argument that the policies be reversed to ease the suffering? Let us debate that specifically rather than the blanket people are suffering which is common knowledge

ghm:
Thanks. These are ideas introduced by the policies, they are worth discussing. Well done.

I had to break down what I have been trying to explain. Rather than just saying Nigerians are hungry, one can say: Nigerians are hungry because this Government removed subsidy and did not share rice to ease our pains. That’s a better policy argument one can analyze properly than just: “Nigerians are suffering” or “we are hungry”.

One of the biggest problems for foreign investors in this country for many years has been the lack of easy availability of foreign exchange. As foreign investors, one of the key changes that President Tinubu has made in the first few days of his tenure is allowing the naira to float freely in the market, letting market forces decide its value. In Nigeria, and generally across the board, there is palpable excitement among investors and companies planning to establish their bases here."

— Chairman Bharti Airtel Limited

megawealth01:
He is the President of Nigeria and has access to professionals and experts who can advise him on the best way forward. All we ask for is tangible results that will improve the lives of Nigerians; if he cannot deliver on his promises and address the suffering of the masses, then he should do the honourable thing and resign.

What you call suffering of the masses is simply inflation. Major inflation is food inflation caused majorly by lack of infrastructure between the north and south as well as post harvest losses. From your analysis and research, do you think he is taking steps or has taken steps in 3 years to resolve these problems? I don’t want you to write like someone expecting magic but one looking at steps taken beyond just current price of rice and garri.
For example, Ruto in Kenya is transforming Kibera slum by building houses for the poor. Is Tinubu doing thesame to help the poor? If he is not then he is failing and not helping the masses. This is how I like arguments rather than the general simplistic arguments the opposition presents.

megawealth01:
It is becoming increasingly difficult to defend Jagaban’s policies in the face of the hardship they have imposed on ordinary Nigerians. The masses are suffering, and no amount of political defence or justification will change their reality. The people need relief, not excuses; meaningful solutions, not endless justifications.

If he cannot ease the suffering of Nigerians, he should honourably resign. I made this point some time ago, though I cannot remember whether it was on this platform, and some people assumed I was being mischievous. The truth is that politics and governance should never be treated as a do-or-die affair. Leadership is a responsibility, not a birthright, and when a leader can no longer deliver meaningful relief to the people, stepping aside should not be considered an act of weakness but an acknowledgement that the welfare of the people must come first.

© MEGAWEALTH01

How should he ease the suffering? Sharing rice? distribution of cash? bringing back fuel subsidy? repegging naira?

Streetinvestor2:
Why are u interested in such opinion or suggestions.
Does it mean the man with capacity can not assembly men with ideas to get the country on good ground.
He prefer to hire people who can only sing on your mandate we stand
look as he removed a better minister of finance to replace him with one guy who knows nothing from his yeye tax law to take over
since he took over all he does is to counter any information from external and internal organisation concerning nigeria. We no longer feel the contribution of the finance minister in the country. He is only interest is on your mandate....lol

The other day he said if subsidy is returned. The naira will exchange for 4k to dollars. And I was expecting him to show the workings how it could happen based on his claims

Wow. Wale Edun was a better minister of finance? Did you feel this way about him when he was in office? He implemented the main policies you cry about here everyday.

I am interested because since I was born, all I have seen fellow Nigerians do is complain and complain about the problems but when you discuss with the elites amongst them to even guage their thoughts on how they think things should be done, you discover that Nigerians don’t even know what they want nor do they know what nation building entails.

If the Nigerian elites and educated don’t know what they want, how would they know what to look for in the policies of contestants for office in order to vote wisely and teach the common man to also vote wisely?

mikeapollo:
I have mentioned a lot of them in previous posts. Go and check them out, even though, as usual, you would be defending a govt that has failed woefully.

A govt that said people should rather use gas after they removed subsidy from fuel. For 3 years, they are not able to convert 300,000 cars from petrol to gas, when there are about 15m car owners/drivers in the country!

I haven’t seen them to be honest. I only see complaints from every post here without personal opinions on what they expected.

I can decipher from your second paragraph that you think the CNG is the right policy but the execution poor. I agree with you as well that the execution is poor but I never expected CNG to be quickly executed because execution for projects like this (that would cover millions) take years due to the lack of infrastructure for gas.

mikeapollo:
Even if that is so, why should the ''cycle" stop now because it is Tinubu in govt? Did Nigeria collapse when others were in govt?
Nigeria will make progress irrespective of the type of ideology of the president.. What matters most is to execute policies that would benefit the majority of the masses .

What policies would benefit the majority of the masses?

HesInMe:
The point is that the incumbent is not our only choice. And before you people try the silly there's-no-messiah argument, I say this: Keep throwing them out until we win the statistical lottery. We have a pool of 250 million to draw from. That was my position with GEJ and Buhari. I don't see why not now.

Well if you are throwing out the popular contestants (including Sowore) for any other unknown candidate with better ideas, I am all for it.

megawealth01:
That’s a proactive Governor right there...

During my last visit to Lagos, waste management was really terrible.

It’s a real problem in Lagos. Waste management issues plus very bad inner roads.

megawealth01:
What exactly is Jagaban doing to alleviate the suffering of poor Nigerians? My concern is the welfare of the masses; bills are piling up, hardship is worsening, and the government must act urgently because leadership without empathy for the suffering of ordinary citizens is a failure of responsibility, regardless of how well some of us may be doing home or abroad.

He is not doing anything. Infact he is useless. Let’s share ideas, what would you do? Tell me and I may vote for you if you contest for presidency?

megawealth01:
Imagine… “baseless,” indeed!

StreetInvestor will humble some of you. When the reality eventually unfolds, you will be the same people shouting that someone has insulted you.

You dismiss my arguments as baseless, yet you don't consider that such a statement is insulting in itself. So, it's only an insult when it is directed at you, but perfectly acceptable when you use it against someone else ba??

Never meant to offend you with the term “baseless”. My apologies if the term did offend you. However, I only used that term because you made no argument as to what you think about the policies.
Were they necessary or not? If you have no opinion on that then on what basis do you argue he is deliberately making life difficult for the poor? You see where I’m coming from?

A leader is not elected to please everyone or solve every problem but to do what is deemed necessary for the nation at every point in time

megawealth01:
Will Nigerians vote for me if I decide to run for President??

Yes. Oya tell me. If you don’t I’ll assume you have no answer to that making your criticism of Jagaban here baseless