₦airaland Forum

nairalanda1:
Borrowing in Nigeria will never stop. Even if Obi won last year...and yes, he was better than tinubu and atiku.

80% of NIgeria's revenue comes from oil. To have sufficent money to run the budget without borrow borrow...we would hav e to have oil being sold at 140 dollars or more per barrel.

The only time that happened was in 2008. That was when Yaradua was ordering government agencies to return excess money in their account at the end of that year.

The only way we can stop borrowing is to increase our non oil revenue and that can be done by being an industrial nation that exports industrial goods...because we can set our prices, and raise our income how we like.

But that means things like allowing discos set price for power, improving tax collectionl, and actually fighting corruption which most of you no go gree for.

The average Nigerian is ready to get prepaid meters so that they will be billed based on consumption but guess the ones that frustrated the implementation of prepaid meters for housing units in order for them to continue their shadiness?

You guys hailed Buhari for 8 solid years that he was revamping the infrastructural landscape but here we are today.

If you are want to absolve the leaders that you secretly support of any blame and blame the citizens instead it would be best for you to come out with your full chest and support your APC. There’s no harm in doing that. It os cowardice to continue to support them whilst disguising as though you don’t support them.

If you expect orderliness in a system where leadership is defunct, you are not telling yourself the truth. The reason why leaders are selected in a community is because it’s not possible for a multi-diverse nation of people to govern themselves successfully without good leadership. These leaders are sharing money in billions and trillions, why should they not be judged?

If a leader fails, you should be honest to admit that he is failing rather than make excuses. The state has entrusted powers to the leaders to ensure that they put in place policies to ensure that things work and they made promises. If they can’t meet up don’t blame someone else.

Now subsidy is gone right and Nigerians have been paying the market rate right? So in your opinion, are we having an optimal downstream sector when the only private operator is having issues everyday with the regulators?

Is anyone surprised?

If you are surprised, your surprise is surprising me lol

nairalanda1:
You could say the same thing about the hawker increasing their prices.

Prices have to go up, because , at the end, people like to be paid. It isn't always a conspiracy. A lot of people have to be paid. Harsh, but that's capitalism.



Problem with Nigerian subsidy vis a vis other subsides

1. It was being done for everyone

2. The financial basis was our oil revenue, which, taking away corruptiion and suchlike, still leaves us with limited amounts of money.

3. If we had kept the subsidy, our debt would have been eating 300% of our revenue. As populaiton rises, and smuggling would have been going on promax, and there still would have been corruption because it was not just the big men on top that were benefiting from subsidy scams.


If you want a subsidy, ye need more revenue, and you need to subsidise the poorest of the poor, not everyone. We are not rich enough yet for that, and the sad thing...before you accuse me of ignoring it...is that corruption makes a bad situation wors.e


I mean, we should have removed subsidy ages ago, since 1993. BY 2011 subsidy costs were thrice that of 2010...that is why GEJ wanted to remove subsidy, and even did a partial removal.


We are not a rich nation. We are a resource dependent, broke nation. And what pisses me off is that neither party or people can see that...nor do they want to make the necessary changes needed to get us out of resource dependency.

If it was a case of capitalism playing out, that would be fine. You set your price as high as you want but at a certain level your price becomes uncompetitive. Meanwhile, the lady selling bread and provisions just got a 200% rise in her shop rent as a result of inflation occasioned by rise in cost of fuel that affected everything else and so even though her bread is not imported she will be out of market soon if she doesn’t raise her price.

But even if we ignore the scenario of the bread selling lady, what is happening in our oil sector is not capitalism. There’s artificial hand that would not ever allow the price come down to a certain level. We all saw the power play that happened in the few months or years among the players in the sector.

We were all here when the regulator announced that a major breakthrough refinery in Nigeria was selling substandard PMS. That turned out to be a lie. We all saw when the regulator would justify importation on the grounds that domestic output cannot meet up with demand whereas a local refiner’s output is being ignored. And then inspite of large refining domestic capacity we are seeing insane levels of importation of PMS. We have the regulator at war with a domestic refiner and it doesn’t concern them if the economy is worse for it because of importation of fuel, effects on the FX rate and subsequent issues of unemployment, high cost of living and what have you. We all saw the people crying when Dangote was reducing his price and what transpired next.

To be clear I am not advocating for return of subsidies not because it is bad but because of the people involved with its implementation here. The people involved in the scam are well connected to be people that be. It’s not like stealing sweets from a candy store. Have there been prosecutions? If there is no co-operation from the powers that be, there’s no way the scam would sail through.

What I’m telling you is that subsidy removal is not the panadol that will fix the sector. There are deeper issues. If we are not a rich nation, it’s not because we don’t have what it takes to be one of the richest but because of mismanagement and ineptitude. There were countries that were below us in the 1970s but it’s a totally different story now.

UAE did not start from the top. They invested their resources with visionary leadership and they are the envy of many nations now. If we are not rich, it’s not because we don’t have resources, it’s because we are not using them well. It’s beyond whether we had been implementing a subsidy scheme. It’s how it is being done. A subsidy scheme where the givers of the subsidy are always shady about consumption volumes and indeed other figures is not a true subsidy scheme. That’s where the problem lies. They themselves and their cronies are benefiting illegally from the subsidy.

Now that subsidy has been removed, i guess you think that’s the silver bullet to solve all the problems in the downstream sector right? Let’s watch and enjoy the movie playing in front of us.

nairalanda1:
The truth is, if we remove tinubu tomorrow, prices won't come down.

The only way for prices to come down is by becoming a exporter of manufactured goods and services. That way, we control the prices , not some joker in London and Paris, and we can earn enough forex.

We can't bring fuel down below 500 again. That was clear in 2012 . But people did not listen. People today are not listening. If we bring back subsidy, fuel will cost ,200 naira and in five years , debt would reach 1000 trillion naira.

I have said it many times. We have never had good leaders in this country because none of them is commited to domestic production at home. Everyone was spending billions over the decade on subsidies for all. Till the debt killed us.

Anyway, at the end of the day, apc is still not serious , and the opposition is not ready to be realistic too.

I don talk my own. Agbado and pdp and obident are the same. We need a radically different government

Leadership has a whole lot to do in economic matters concerning Nigeria. So whoever is on the seat really really matters. Is it a mechanic or teacher that will implement policies to make production conducive for producers in Nigeria? No.

It’s not about people not listening. People are asking, these rises in prices - how much of it is greed of co-collaborators of government and how much is from inefficiency and how much is from the insistence on importing because of private gains being made from this? These issues are bigger than the subsidy argument. If we have the crude and we have the working refineries, there will be a level at which the prices can reduce to. But that level puts the interests of the powers that be at risk and therefore they won’t allow such. These are the artificial reasons why the prices won’t come down below a certain level.

Nigeria is not the first and won’t be the last country where gas and fuel are subsidized. Subsidy in itself is not a demon but the way it is done here is so opaque and deceptive such that we may not even know the true and actual volumes of the product that is being subsidized and so some money goes to private pockets.

I agree with your point though that we drastically need a responsible government. I don’t know who that person might be but at least there has to be credible systems that give the people the chance to elect their preferred candidates without fraudulence from the government. This will ensure that leaders actually work for the people because the system we have today makes it possible for leaders to do rubbish and still get away with it.

nedekid:
Did ordinary Nigerians take the risk of heavy debt through loans, the billions sunk into the facility, the sleepiness might and meetings etc? which yeye national interest? Even the land we thought the state gave him free, did he not say he paid over $100m for it and spent several billions out if his pocket sand filling the place?
If we want national interest or ordinary Nigerians refinary, nnpc owned refinaries are there, abi are they not producing again?

Help me tell them o.

Somebody collected loans in foreign currency and took a monumental risk that big oil firms backed out from and set up a world class refinery and people are telling him to set prices for national interest and yet the government that they are supposed to demand national interest from gets a pass from them. You see how many of our citizens reason?

CSTRR:
Why is it not reflecting on the exchange rate?

It is not reflecting on the economy because:

1. The gains from exporting his product is being nullified by inability of government to resuscitate our productive sector. Most things in Nigeria are provided by importation because it is very difficult to produce here. Challenges are high cost of living and producing, lack of access to credit, very high interest rates, poor infrastructure, electricity challenges, etc.

2. Since we have crude and we now have a functional refinery after many decades, many expected support from the government to ensure that the product is refined rather than importing and putting pressure on the naira. But since the refinery came on stream, the NNPCL and their collaborators have been frustrating Dangote.

How then do you want his exportation to other countries impact the exchange rate??

MrSly:
I never believed that a statement that radiates this level of fairness will ever come from INEC. This is how efficient and transparent the system should if not for the over interference by different arms of govt. Yahaya Hello obviously was trying to use this opportunity to his advantage by ochesttating a recall process but he definitely does not have the backing of Tinubu. Reason why INEC is this apt and open.
Nigeria would have been great.

I respect your views but don’t be naive to think that the INEC is acting in good faith. In fact I’d be surprised if they are truly acting in good faith. See, all this initial strictness is all a ploy to get people to see that they are acting transparently when in fact they and their collaborators have planned how the end would be right from the onset. Watch and see.

Dotherightthing:
Nothing can be hidden for too long

Tinubu hates subsidy like shit

The same way “Buhari hates corruption like shit” which was repeated again and again by his followers in 2015 and 2019. Again, if they don’t want you to know, you would likely not know until another administration comes on board.

Dotherightthing:
So far there is no subsidy of any kind involved, whether currency or commodity, it's okay by me.

If there is some subsidizing going on and the culprits don’t want you to know, then you likely wouldn’t.

WithFact:
You never know DANGOTE. You all be happy for his downward review of PMS product. It is a measure to totally cripple other competitors and then monopolise market in order to hold the masses and the government by the neck 😀.
Een those marketers who import pay in dollars but sell in naira. No miss mismatch.

It is better than importers holding us to ransom now and forever by causing us to buy fuel at N1,000 and above. Furthermore he cannot cripple competition if NNPCL refineries are close to full production as they claim. What is the fear if NNPCL refineries are truly working? They won’t allow Dangote monopolize the market since they would be producing just as he is producing.

Marketers pay in dollars for a product sourced abroad and sold in Naira to a Nigerian market - Perfectly okay. Dangote used to buy a Nigerian product in Naira and used to sell to a Nigerian market in Naira - Perfectly okay until collaborators decided to make Dangote buy our God-given crude in dollar.

Owon:
But Dangote too na Weyrey


Why the sudden threat to change?


You bought in naira but want to sell in dollars!
Which kain witchcraft be that?

He bought what in Naira or are you not hearing that they have suspended the crude for naira deal?

ElevationD:
What did you expect in the first place? All that abracadabra of fuel price reduction from Dangote, go me, was never real. Petrol price in a little time will far exceed 1,000 per liter.

It was and is still real. The people benefiting from importation didn’t like it and so NNPCL and their collaborators shut down the crude for naira deal. That’s specifically why we are here today. If you say Dangote’s price reduction isn’t real why not urge the government to start the crude for naira deal again and see if he won’t maintain the low prices.

Also, if Dangote decides to increase price in the future, then importation will become attractive again which he wouldn’t like so I think the low prices are sustainable so long as local refining continues to be efficiently done. Dangote will make his margin and smile to the bank because there is a massive massive market in Nigeria and even abroad for his product.

thesolutions:
Because those that sells electronics and gadgets charge in dollars since they are imported in dollars. Does marketers that import fuel sell in dollars.
We expected the naira to gain value since dangote started exporting petroleum products but that has never happened because the dollar doesn't pass through the government but in dangotes coffers. How is that beneficial to the government.

Dangote is out to end Nigeria. Not to fix it.

How will the Naira gain value when the same government is in cold-war with Dangote? Dangote is not responsible for the strength of the Naira but your elected officers came to power on the back of the promise that they will address it so hold them responsible. Naira will become stronger when NMRDPA, NNPCL and co-collaborators de-emphasize importation of PMS when we have excess local supply. They are the ones that claimed that Dangote was producing substandard fuel which turned out to be a lie. They are the ones that said Dangote doesn't have enough products, hence the importation which is also a lie to justify their knack for importation. They are the ones that increased the price by a sharp margin late last year. They were still the ones crying all the time Dangote reduced his price. 
 
Dangote is saying that his exposure/obligation/loan for the refinery is not in Naira but hard currency US dollars. That's very important because he has taken a huge risk as he will be exposed to liabilities in foreign currency should anything happen and this part of the world is not somewhere that you can trust that the rule of law will always hold sway. He took that risk investing in refining business here where many declined including bigtime international oil companies and one of the succor he had for taking the risk was the agreement that the government will provide him with crude oil in the exact naira equivalent of what he would have paid in dollars. 
 
For every loan repayment Dangote has to make, there is already a naira loss for them due to the fact that the rate at the time of obtaining the loan compared to now has changed considerable and there is every risk that the rate will still increase so Dangote is not ready for that risk which is too weighty. 
 
With all due respect, it is not really wise to compare importing of fuel to private investment in a refinery that cost $20billion. You cannot ask Dangote to not sell in dollars because people that are importing are selling in Naira. They are not the same thing.

Dangote is neither out to destroy nor to fox Nigeria. He is not out to destroy it but he’s just a business man with loan hanging on his head. He doesn’t have any authority to stop the government from making their refineries work. At least we have state owned refineries working efficiently in other countries, why must ours be different? If the refineries here are truly working, Dangote cannot monopolize anything. Even if they can’t fix it, why not hand it over to private players in a transparent manner and with due process? Dangote is not here to fix Nigeria because he is a business man like many others and there are people are being paid heavily to do the job. Why not point your finger on them?

Nigerians by the time you return to buying fuel at N1,000 per litre, nobody will tell you who your real enemies are. How can a people intentionally be so gullible to have the back of their taskmasters? Doesn’t make sense.

We know Dangote is a monopolist by heart but at least he is reducing the price temporarily and helping out to keep the naira in good shape directly or indirectly and we know that exchange rate affects everything else in this economy.

On the other hand, we have government functionaries that have kept the e refineries dilapidated for decades, then began to
de-market Dangote of substandard product when he finally was able to break the jinx of local refining, later began to claim that they don’t have enough to service the domestic market even though they kept prioritizing importation of PMS, then suddenly claimed that they are now refining with the questionable output in terms of barrels per day and now decided to pull the plug on the earlier agreed naira for crude deal so that the high prices of imported goods can still remain attractive.

Who is your real enemy, Naija

Those that are supporting these cannibals can see who the real monopolist is. Right?

Ask yourself, yes you reading this post. You that has been shouting, “we don’t want monopoly o.”

Ask yourself a sincere question: All this while I had been criticizing Dangote, was I truly against monopoly or was I against him because of the negative effects on the people I support?

Am I really against monopoly or am I stylishly supporting an irresponsible government because of my party, religion or tribe?

NinjaMetahuman:
either way, he should not be buying in naira and be selling in dollars.

That's fuckery.

How won’t he sell to willing foreign buyers when his country people are sidestepping him to purchase imported products despite the fact that he has enough to serve them?

Why should he not collect dollars when his willing foreign buyers don’t collect naira?

Ofadaman:
Dangote isn't the problem, if for anything, Nigerians should even be happy there's a competitor to NNPC and fuel marketers.

Now let's imagine there's no dangote refinery?.

We'd buy fuel at 1000 and abv, and nothing you can do about it, We'd also have dollars at 1900.

The thing is, fuel marketers have united to ask govt to stop selling fuel in Naira to Dangote, so what else do you want him to do?..
Again, this whole issues just goes to show you that the real oil subsidy cabals is amongst the govt in power.

Because explain to me, how can you be importing fuel to Nigeria, from Malta, how can u say NNPC is refining yet to derivatives of oil and you still importing fuel against our naira.

The only narrative we are all playing with is saying Dangote is a monopoly ask yourself how many refineries do you have in this country, even your own government with all tax payers money could not make one refinery to work? Why do u then blame the man who is even trying to make one work and cheaper than how we used to buy it..

Is he wrong for seeking profit?, is he wrong for starting a business and going uo against the govtt, what is it you hold against him , do you want him to run a business at a loss after borrowing money to set up a business your govt couldn't do?.. do you prefer to be under the control of oil cabals and marketers...
What exactly is our problem?

Don’t even waste your strength my friend. A lot of Nigerians couldn’t even read the article for 30 seconds to understand what NNPCL are the evil marketers are concocting. They think that Dangote is at the receiving end but he is not as impacted as they are.

Tribalism remains the greatest barrier because people will refuse to see things objectively because their man is at the helm.

delzbaba:
We should never put hope or confidence in this man, he will play us like chess, I wish this fu*king country would just sit up.

If you had a functional government, you wouldn’t be holding a private sector player responsible for what the government was set up to address or you won’t be hoping on him for anything that the government is suppose to provide.

thesolutions:
Everything is coming out gradually.
Until NNPC step up their game and start true refining of petroleum products, dangote will keep dribbling them.

Dangote has no Care for anyone or the economy just like the government has no Care for the well-being of the masses. This government is the worst of it.

The government should as a matter of urgency suspend dangote refining and sales licenses while NNPC is given the government ahead to import petroleum products to mitigate any shortage in supply that could occur as a result of suspending dangote. It will be worth the sacrifice.

All dangote want is to spend the naira and keep the dollar. That can not benefit the economy.

It is always in the favour of the masses to align with the government but this government is proving everyone wrong by their selfish attitudes.

Read the article. Dangote says when they receive naira-denominated crude, they will charge in Naira.

Your suggestion that we should take away Dangote’s refining license and enthrone importation is another way of saying we should continue to plummet the power of the Naira, continue to export value added services abroad, we should reinforce unemployment and high cost of living, high cost of doing business and reduce standard of living.

I haven’t come across a worse post on the Dangote-NNPCL fracas yet. You are asking to amputate your legs because you think they are not fine.

bixton:
Hear no evil ,
See no evil.

Even undercover agents sometimes act like who they are not in order to gain access to needed information to nab wrongdoers. If the motive is good, there is no problem in acting like something you are not in order to gain access that would otherwise be impossible.

bixton:
I hope you do know that conspiracy is a crime and offence by law and had it's own punishment. It doesn't really matter whether you actually do the real crime or not......

It is a crime when they act on the illegality but for example when one party reports the plan to the appropriate authority, you cannot charge that party for the crime.

If only Nigerians would see the state resources like they see their personal businesses, people won’t be urging non-state actors to take ownership of the state resources.

Just imagine you have a business and your employees steal from you everyday. If employee 1 and employee 2 have agreed that they will steal your sweat and share the money, but employee 2 eventually deceives employee 1 and report to you (the business owner) and all the money is recovered.

In this case will you claim that employee 2 did the wrong thing just because he broke his agreement with employee 1?

You cannot establish legality on an illegality.

bixton:
Your scenario cannot play in such instance.
Just like the issue of affidavit you all think snd believe will stand in Court against the 27 lawmakers.....

Find a suitable scenario, please and thanks.

Not me…I never mentioned anything about the affidavit issue or the 27 lawmakers. If you can see any of my posts on these matters, you can pull it out. What I’m saying is simple: an illegal agreement whether it is to abduct a kid or to rob a bank or to steal money or to control state resources after your term, is an illegal agreement and should not be upheld.

If the party who supposed to co-operate then reneges from the so-called agreement, and he himself takes the proceeds of the agreement to himself alone whether it’s the state resources or the loot of the bank robbery, then he has added illegality on top of illegality. But where this person decides to renege on the so-called agreement so that he can do the right thing, then he has acted properly.

bixton:
....

Nobility indeed with deception.

Depends on who is deceived. I’ll give you a scenario. If a kidnapper has abducted a child and the ransom is N10m and I happen to reach an agreement with the kidnapper but end up deceiving him such that I get the abducted child and I don’t keep to my agreement to pay the N10m, I haven’t done an ignoble thing because a fraudulent agreement is not valid abinitio.

In the same vein, agreeing to do the bidding of someone who wants to control state resources for himself and reneging on that agreement to serve the people instead is not a bad move because it might be near impossible to wrest control of state resources for the people any other way.

So long as the individual actually uses those resources for the people and so long as he himself doesn’t become a controller of state resources at the end of his tenure. Before we shout “agreement is agreement,” let’s first ask what kind of agreement, is it an invalid one?

bixton:
I don't have emotions to give for political issues.
An Accountant General of a State who knows what goes and comes into the State coffers and goes into an agreement because he sought the office of governor, is not morally bankrupt and weak in character but you say those of us who insist he should keep to his agreement are the ones morally bankrupt and weak in character.....

You do well, you do very well.

Yes I insist that it is morally bankrupt to ignore the intention of someone who is not the governor to have control over STATE resources. I repeat the resources belong to the state not a man so if you cannot see that fundamental point, where is your moral standing?

And yes I repeat that if the so called AGS entered into the deal with the ultimate goal of ensuring that turning state affairs to a business deal ends, so long as he doesn’t himself join the foolish bandwagon, then he is a noble man.

You can quote me on that, I am still here….

bixton:
It is only Gov. Fubara can say the details of the agreement, item for item.


At least Wike has been consistent on media what it is but we need to hear from Gov. Fubara if that is it and why does he not want to honor it anymore......


Gov. Fubara owes Rivers people that much to say himself and not this hearsay we hear from his supporters. They were never there when the agreement was signed and sealed.

If Sim had an agreement with Wike and you are insisting that he keeps to it, why not insist that Wike should desist from illegally trying to own/control the state resources? In other words, if you say that Sim should act in integrity towards Wike and yet you are not insisting that Wike should act with integrity towards the state then you are simply double-faced.

It’s just like Mr A and Mr B decide to rob a house and share the money according to an agreed percentage. Mr B betrayed Mr A and refused to give him the loot but decided to wire the money back to the victim of the robbery. I wouldn’t say Mr B has done bad.

If anybody is insisting that Mr B should co-operate with the terms of the contract with Mr A, that person is morally bankrupt and weak in terms of character.

Pootle:
for 8years wike did what ever he wished many were not happy when he left they felt that should be the end but baba no gree, jus as tinubu have a strong hold of lagos if no for him obasa was a goner....ppl should know in a third world country like ours godfatherizm cannot be overemphasize, it is the bed rock of politics. maybe when we mature than this we will run polities in a better way

We will never leave this archaic backward system if it has a lot of support from the individuals in the country. Supporting a godfather to have unfettered access to people’s funds is not nobility, it is fraudulent and a display of cowardice.

I prefer someone who agrees to be subservient to a “godfather” but reneges on the agreement and decides to use the state money instead for the people because the money belongs to the people in the first place not the so-called Godfather. I prefer such a person to the one who accepts the deal from The Godfather and keeps the deal and begins to siphon the people’s monies to the so called Godfather cowardly.

Eriokanmi:
Game changer indeed. Just tell him to stop bringing petrol into the country by force from the Malta blending facility and he should also stop harassing dangote who is out to rescue us from their slavery pls. It wasn't fake news that he wanted to stop NNPCL from supplying dangote crude. Danger was already planning to import crude from Yankee which according to him, is seamless and without hassle, before NNPCL made a you-turn.

God will bless you.

See Nigerians support for their oppressors sometimes makes them either forget recent news or fail to read between the lines or both and this is rather sad. In case some people don’t understand the politics that’s going on here, let me break it down.

NNPCL unprovoked, announced that they would be halting supply of crude for Naira to Dangote recently and this was because of the obvious cold-war between the two entities who are fighting for dominance of the market. Because Dangote has reduced price multiple times to the dismay of NNPCL, that news broke out that they’d stop the deal.

As NNPCL received backlash and Dangote announced that there’s no big deal and that they would import the crude from three different countries (Algeria and two other countries), NNPCL is now saving face by saying that they only meant that the current contract ends March 31st and then news came out today that they supplied crude to Dangote. Obviously they don’t want to look like the bad guy and because they know that their initial plan didn’t work, they are now saving face.

You know what’s very interesting about this whole saga? It is that the best person to deal with NNPCL mafia is the shrewd and decisive business man that Dangote is. Let the war continue until NNPCL fulfill their refining capacity.

TescoD99:
This has been his modus operandi; I sincerely hope other refineries spring up to challenge his planned monopoly

I was telling everybody that cared to listen that importation is not an effective strategy to checkmate Dangote’s monopolistic tendencies. Rather than focus on Dangote I’d urge all of us to focus on the elephant in the room (NNPCL). They have refineries with combined capacity more than Dangote.

They have been sabotaging these refineries for decades to enjoy their lucrative importation and subsidy business. Now the game has changed they are fighting Dangote tooth and nail. If they fix their refineries, all this talk of monopoly wouldn’t even surface but they prefer audio fixing of the refineries because they know they have supporters that will hail them even when they cannot tell how many barrels their “working” refineries bring to the table. The article states the following: “Anyaso said that to restore stability in the market, NNPCL had to go into full time production.” This is what I have been saying since. NNPCL and their close Allie’s IPMAN thought they could fight with Dangote by importing and now reality is beginning to dawn on them.

Dangote is not your problem. The problem is NNPCL. In other countries, State oil corporations run refineries efficiently through different arrangements that suit their context. It’s not rocket science but when there is profit to be made from inefficiency, inefficiency becomes the order of the day.

Baxilexi:
*For the sake of the larger audience.

Read carefully my previous post, I support his refinery because it’s mutually beneficial but the brand Dangote is selfish, self absorbing, and unpatriotic.

Expanding the narrative… all over the world there comes a point in a man’s life where he chooses integrity, industry and immortality over money. In America today those who wield power are those breaking out of the private sector and working to fix the ills in government so it can be just as efficient as the private sector. Same is happening in Europe.

Dangote for year has been in tandem with successive governments to exploit the average Nigerian. Can anyone list 5 public infrastructure donate by his company to improve the welfare of Nigerians? Has he built a public library? or a stadium? Or public schools? Or supported technology and research?

Bill gates is an American that could have chosen to spend every penny he has on exotic shoes, cars and women but his company global good bridges the gap between death and survival in many third world countries. Same as the Dutch royal family.

All Dangote craves is to wear the title ‘richest man in Africa’ in the poorest country in the world, what paradox.

Kwame Nkurumah said “ let us all remember that nothing can be done unless it has the purport and support of God.

We have won the battle and again rededicate ourselves … OUR INDEPENDENCE IS MEANINGLESS UNLESS IT IS LINKED UP WITH THE TOTAL LIBERATION OF AFRICA.”

I dare say the same of Mr Dangote’s empire, it has not liberated (save his refinery) Nigeria/nigerians since inception, its imperialist and not an inspiration to Nigerians.

Again, it’s my opinion.

Dangote is not our cousin. He took a huge risk in setting up the refinery and if something happens. For instance, if there is unrest and his facility is destroyed, all the billions of dollars is at risk. He borrowed huge amounts to do this in the country when his counterparts preferred to set up their refineries outside the country.

Was it Dangote that increased fuel price at the onset? No. Is he the one reducing it now? Yes. Which people are the ones crying at the reduced amount? We know them. So why not direct your complaint to those people who are bent on keeping this product on the high side?

Even if you want to avoid a monopoly, NNPCL is the one to hold responsible. You need to be able to affirm how much they are currently contributing in terms of refined fuel and what the concrete plan is to attain their maximum refining capacity. If NNPCL do the needful in this regard, monopoly will die naturally.

Wimkeh:
I don’t support the subsidy merchants but trust me, you do not want Dangote to monopolize the fuel sector. It’ll be very bad. He’ll be the sole determinant of fuel price just like cement.

If you are truly sincere about not wanting a monopoly, urge NNPCL to get serious about their refining potential. Importation is not the solution. We all know the impact of importing fuel on the economy (job loss, weakening of the naira, inflation, high prices for goods and services, high cost of living and reduced standard of living among others) but even if importation does not have any consequence on the economy, they cannot survive efficient local production (refining) as we are now beginning to see going by the protestations of the the importers.

gabbasin:
Local refining are being encouraged, 3 new licenses have just been given, by the time the local capacity can meet up with demand and NNPC refineries are up and doing, this will be the beginning of real competition in the sector, not now that Dangote is holding the ace

They should show it with the refinery that is on ground. I cannot say they are encouraging local refining when they are engaging in Cold War with the refinery that has managed to pull through. Giving license to potential refineries that we don’t know what year they will come on stream is not support, they are obligated to do so.

Then can you please give a detailed breakdown of the contribution of each of the NNPC refineries in terms of barrels per day?