₦airaland Forum

richmond500:
it is economically impossible for Dangote to sell below N766 per litre

so how was it economically possible for Buhari to sell at 180?

Una go just open mouth waaaah!

ALTERNATEID:
At least, can Dangote be more transparent on his part? Why are some of you against the request for Dangote to be more transparent? I don’t get it.

Dint you see in the news few weeks ago when Dangote was saying this? He said the price of fuel is not in his powers. Govt decides what they want to sell to the public.

Dangote buys crude from the govt and sells back petrol to the govt.

ALTERNATEID:
Which one should we now believe? Punch at N766 or Vanguard at N960/980?

Why is it so difficult for Dangote to publicly announce the price he intend to sell to marketers? He has been very vocal about a lot of things this year but now that it’s time to sell, he is keeping quiet about the price.

Dangote is not the issue, the govt is.

Jayhome24:
These are the people shouting the country is hard but ready to invest million on ordinary phone and the most annoying thing is many of them are jobless waiting for one package fraud to rain cash from heaven from their online republic.

*Rich remain richer because they spend like they are poor while the poor remain more poorer because they spend like they are rich*

Oga, leave people to live their lives. The rich man you call also spend money on one frivolity or the other. Both the assets you buy here, land etc, you won't take any of them ro heaven.

Jostoman:
I have never seen a government that is as wicked as APC government.

Very wicked and heartless people.

pls rephrase. Buhari's govt wasn't as inhuman as this. No empathy on all fronts.

Samunique:
Which player be that pls ?

Veira

Samunique:
For those Chelsea fans who think Enzo is useless, hope you see how uncoordinated Chelsea was today without him in the midfield.

Meanwhile, Noni Madueke needs to be talked to, the dude scored hatrick some days ago, all of a sudden, he starts feeling like he's the new Ronaldo and Messi in town by overdoing things. The dude needs to be calming down


Well done Blues !!!

you brought a player that has not played since forever to play and u expected a coordinated midfield. Enzo is flop abeg

Caceido was just playing the midfield alone. That Veira no gud

Funkyswagzz:
Per barrel not litre. You don't refine oil per litre thats a dumb question

this guy sef. So if you measure by barrel, won't you divide the barrel by the number of litres that make a barrel? Nawa for you. You tire me.

Funkyswagzz:
Lol cost of production range from $3 to $43 depending on the type of oil you are refining be it light or heavy oil. So what do you want to do with this information

$3 per litre? Bros fear God na. You can't even do simple Google search to save yourself.

Funkyswagzz:
Bro you asking the wrong questions, look the reason fuel subsidy is paid is to make sure your country maintain a steady price of pms and also control the environmental hazards of fusel fuel. The higher the price of crude oil per barrel the higher the subsidy you pay. So for you maintain a steady or moderate price you pay for subsidy according to your exchange rate as we've witnessed in Nigeria over the passed years.

Now looking at the case of dangote refinery the government could still pay subsidy to bring the price a little but the good news is dangote refinery is in Nigeria so all possible transactions won't go through the petro dollar. What this means is that Nigeria will have a negotiating term with dangote refinery to find a balance on pms demand and supply. The question is will dangote refinery or nnpc reflect on the volatility of crude oil to price of pms or will nnpc pay the difference to stabilise the pump price?

you are just talking subsidy here nd subsidy there. My question remains.. What is the cost of producing a litre of petrol?

Secondly, are you telling me the govt of Buhari paid over #500 to subsidise a litre of petrol it sold at #160 per litre?

Funkyswagzz:
Bros i wish I can drop a voice note for you and explain everything properly. Fuel subsidy varies and it also depend on the cost of crude oil per barrel. The only time subsidy won't be paid to anyone is when the port harcourt refinery, warri refinery starts working. Do you even know how much it takes to make fossil fuel environmentally friendly? Do you know that nnpc would prefer to sell crude oil than refine it?

my question is, how much does the Buhari govt pay to subsidise a litre of fuel?

Funkyswagzz:
Oga please with all due respect you are confusing yourself please go do a little research even Russia that has oil pay subsidy to there refineries to keep the price of fuel down

smile.

What is the production cost of litre of fuel from the refinery? I don't mean cost of importation and tax.

I neva said subsidy cannot be paid even if we produce locally. I only said the Nigerian subsidy is as a result of importation cost and not the actual cost of production.

If we are to hó by the current fuel price, are you telling me that Buhari paid over 500 to subsidise a litre of petrol?

Funkyswagzz:
the government fixes the price of petrol for consumers below the international price and uses government resources to pay for the difference that is fuel subsidy

you're wrong sir. There's nothing like international price for a commodity produced locally. You can't be using international price for a commodity you have comparative and absolutely advantage above others.

Subsidy in Nigeria is as a result of buying fuel at the International market while abandoning our refinery.

Now that we have Dangote refinery, international market price holds no water. We only pay for the cost of extracting raw crude and refining at Dangote refinery. FG does not need to subsidise anything again.

You only pay subsidy for a commodity that is too expensive to produce or not produced at all in you country. Nigerians have no reason buying fuel above 300 with Dangote refinery in place. #300 is even too expensive.

Funkyswagzz:
If this fuel is sold below 1000 its honest tho the price can't go less than 900 without subsidy

but why? What do you understand by subsidy?

richmond500:
So NNPCL will be the sole-oftaker and every other person will buy from them while subsidy still continues?

What's the nonsense talk about open market with willing buyer willing seller aggrement and enticing investors into the country?

all are just paper talk to deceive us. The law of demand and supply no longer applies, it's now monopolistic wholesaler.

Karmatialization did this one

Queengee:
Enemy of Nigeria too plenty

for me the president should take the blame for all des. One sack is enough to reset people's brain. One genuine arrest will stop the madness, but it won't happen.

Shadomaan7:
Peter Obi should get a life. Always crying more than the bereaved

Oga go and buy fuel and fuel ur car, dats if you have one.

adioolayi:
After a long while...

Was fortunate to get at NNPC in Lagos at NNPC NGN 819


Before today, I've bought at NGN 999, NGN 980 and NGN 970.
It's been hellish...

This NGN 819 I got it today come be like say I hit jackpot...

President Tinubu lacks empathy!

I've always maintained dis point. "empathy", is a great feature of a gud leader. To what end are these policies? To benefit who?

chatinent:
I read this post by Ishilove: https://www.nairaland.com/8209708/how-man-helped-accident-victim and wanted to comment this: avoid being a victim of your kindness but it may be stomached with a wrong conception.

Here is my story:

The help I did in 2017 to FMC that cost my three days? I rushed the woman who's just been hit by a kinda hit and run..and the issue of police report started. Good Samaritan me drove with my Bolt vehicle to the station and after narrating, what came out from the Police Constable was "Guilty Conscience. God works in mysterious ways."

The rhetoric hit me like a letter bomb. I stuttered to explain myself better, and was finger-signalled to meet was caricatured by another officer who asked me what happened again, in an attempt to add his own mockery as an end-remark....which he did: "Una no dey ever change this story? Pray she lives or you are in for a long ride."

I wan die that day. I explained that I was with the military (if it would make a difference) and I knew the law and all that. And why would I hit her, come to the station and deny it? Glaring to me, the first Constable who was a woman responded to my rhetorical question with a scorn again: "guiltttttttty conscienccccce ooooooo."

I gazed at her, consumed by a sense of hollowness. And then, from behind, a voice echoed: "'I was in the force, I was in the force's, so what? Make we run? So you want to threaten us or what after nearly killing someone?"

The female constable responded again: "no, he wants to beat me. Na so dem dey"


I was told to write a statement of what happened but this officer won't let me write my own narration. He'd be telling me how to write it if I wanted to be out of there quickly, what what he was dictating was implicating which I refused...and he resolved to teach me a lesson "so far na en station where I dey."

"Oga, I am the one who is trying to save a life, why do you want to implicate me? Would it have been better I left her to bleed to death? Where did I go wrong?"


I demanded to speak to my lawyer or the DPO and they laughed, mimicked scornfully and laughed harder.


Ok, both of my phone's was siezed...and my smartphone was where I had some contacts who could use their position to help me out of this...plus my CO then who was serving in that state. But this people gave me my Itel button phone. I politely requested for the smart one and they bluntly refused giving clumsy excuses.


I sat behind the counter until my black trouser wore out. And it was a Friday. One officer who's been observing for a while came to me and asked what my case was. I explained to him. I couldn't adequately express myself as tears threatened to accompany my words...but I did. After he calmed me, he asked who could corroborate my story and I told him. He told me that the officers wanted the DPO to leave so I could be in cell until Monday when they'd revisit my case. My heart was just shattering anyhow. I told him I needed to speak to the DPO, then my smartphone to call my people, plus the hospital.


They (without this new good officer) took me to the DPO and the black devil trying to implicate me before started speaking for me, rephrasing my speech but instead of adding sugar, they added salt to the injury making it look like I wanted to outsmart them. I requested to speak for myself and the officer who brought me in told me to shut up.


If I hadn't given the Nurse in charge of the accident victim my number, e for don bi for me o.


The DPO told the officer to let me talk. I narrated everything again, and didn't leave any stone unturned, even the few pebbles about trying to implicate me. She asked for the hospital to be called. And I gave the number.


At that moment, they couldn't reach the doctor. But the accident victim's family were present in the hospital. The DPO told them to take me to the hospital. When we were out of her office, this officer insisted he'd cuff me before I am allowed to enter their vehicle...of course which I refused. I SERVED NIGERIA TOO AND WONT BE TREATED LIKE A CRIMINAL! And that by law, it was false imprisonment, and against my human rights. At this moment, swears, I was ready for resistance. I spoke loudly that I am not a criminal and won't be subjected lesser as a toutish one. I also told him to his face that after I am exonerated, I will make sure he pays for all these (and he thought I was joking).

Amidst all the back-and-forth, the hospital reached out to the DPO and she promptly called us back to her office. The woman victim was conscious and verified that I did not harm her. She mentioned that everyone else abandoned her while she was bleeding, and I was the only one who came to her aid. It was being broadcasted for everyone to hear. She expressed her dissatisfaction with the way I was treated and questioned the reason behind my arrest.

The DPO, in my presence, ordered I should be released unconditionally and apologized.

But can an apology heal the trauma?


Could you believe after the DPO left, this godforsaken demon asked me to pay bail or he'd keep me in cell till tomorrow. Omo, I screamed "over my dead body" subconsciously and audibly. And he was like "hand go touch you soon no worry."


Anyways I left after deliberate delay tactics of about two hours. I could not go back to the hospital because the whole event made me fall very sick. But the accident victim lady visited after recovery. She's visited a sick me because my mental health was affected. I couldn't even meet my weekly sums from the Bolt. Two days after the whole event, I tried to drive and my eyes was still seeing rotating images so I had to hug pillows again until I felt much better.

About that officer, story for another day.



But you see me now?


I refuse to be from Samaria anymore. It nearly cost my life.

that incident saved your life. Never stop being good, it will cost you much more.

ShogunNoName:
Russia is in danger.

Who else has noticed how this evil western globalomanics are using Ukraine to test all Russian air water and land defenses?

I have a feeling this Ukraine vs Russia war is one big CIA data gathering campaign to fully assess the Russian defense and offense capabilities before they decide to attack Russia .

The last two years of Ukraine being on the defence and eventually pushing Russia out of Ukraine was just to test the Russian attack capabilities now Ukraine has entered deep into Russia the CIA are just assessing the defense capabilities of Russia.

I won't be surprised if next year the West launch an evil attack on Russia.

One thing about the west is never underestimate how much evil they are capable of.

now you blame the west for a war Russia started. Na wao

Ukraine is just waking up. This is what they ought to have done from day one Russia entered Ukraine.

Too late though as Ukraine has lost too many men and resources.

weyreypey:
Into which car? What year model? Is the car E10 enabled?

70% of cars on Nigerian roads are not E10 enabled

we go use am like dat

nairalanda1:
Well, subsidy isn't sustainable

but building VP residence with billions, buying first lady convoy with 2bn, expending 90bn on hajj etc., is sustainable right?


Try learn and understand what govt is.

nairalanda1:
IN other words, you have no response to my points.

LOL.

I'm more concerned at how you pull out things just from anywhr without first understanding how this things work.

This is not about Tinubu now. We are going broader into discussing how a state and people should be governed. If you understand what democracy is, militocracy, socialism, communism, communalism, capitalism et al is in even the lowest forms, you won't be talking the way you do. Try understand this simple political and economic terminologies, they will help alot in your argument.

Not even American capitalisists can comfortably jettison social intervention in a society in the manner you're doing.

nairalanda1:
It always has been, that's why NNPC is owing sellers lots of money now.



So, by extension, government should set prices for your business....and you lose money, so that they can help the poor.

O ma se o.




We tried subsidisng food, and it led to long queues, and scarcity. Back under Buhari army
We subsidsie health, and that's why we have shitty hospitals, because they cannot earn enough to run very well. Also, why many people run abroad for care
We subsidise education, that is why our unis looks backward and our hostels are shitholes.
And subsides are paid for out of taxes....which in Nigeria are very low .





Problem is, that mentaily is why NNPC Is owing 6 billion dollars now, and why we have poor investment in domestic refining, apart from Dangote.




Because when we had refineries, the government sold fuel, diesel, and kero at a loss from them, and skipped TAM to keep subsidy costs low. And massively subsidised their transport.

Result...refineries could not make a profit to run themselves , and they broke down

Plus our revenue from oil cannot pay for subsides...unless we were producing at least ten times what we produce now, and oil remained above 130 per barrel.




Simple...the other parts of your budget....which brings about a deficit, which is filled in by loans.

We have been doing that for decades, which is why we have problems with debt, among other things.

pls what course did you study in the university? Cos your understanding of the working of a state and how social infrastructures should be manged leaves me with much questioning. So, since 1960 till date Nigeria has not been making profit from crude oil sales, and moreso, our refineries died because of govt subsidy? Your argument is very very flawed.

nairalanda1:
Well, all I know is, allowing fuel to be sold at profit would have prevented all this.

was fuel sold at a lost before?

You really do not understand what this subsidy is and how nations should be governed.

Govt exists primarily to do for the people what the people cannot do for themselves. Otherwise, there's no need surrendering my individual anarchy to the state. This is simply social contract.

Every society, irrespective of how rich or poor they are must subsidize one particular commodity that will make life meaningful for the populace. This can be food, health care, transportation or several facets of life. Even societies like western economies that claim to imbibe the tenets if capitalism still subsidize one thing or the other.

What you produce locally will be cheaper, and what you import might be more exorbitant, hence the need for subsidy.

Nigeria's subsidy is an act of wickedness from the part of our leaders. How on earth do we explain that Nigeria an oil producing state doesn't have a functional refinery? The subsidy you see is the cost of refining this crude in another country and bringing down to Nigeria. So whr is the subsidy coming from again now dat we can produce locally Tru dangote?

nairalanda1:
Well, it is true that when petrol is sold for a profit, nothing like scarcity and subsidy scams and smuggling exists.

Such things exist in countries that do subsidy.

you still open mouth waa again. So far fuel price is cheaper in Nigeria to Niger, Ghana, Cameroun etc, you can't stop smuggling by mere removing subsidy. Smuggling exists not not because of subsidy but due to our porous border, failed security architecture and corruption of those manned to safeguard the border. You can open ur mouth waa again

nairalanda1:
It costs N720 per liter to refine a liter of pms NOW...Not under buhari.

Under Buhari it was probably above N250-500. If not more atimes.

so who do we blame for this?

nairalanda1:
Thank you for your comment, but subsidy is unsutainable and has to go.

you lied openly, now you can't defend your lie.

nairalanda1:
Nigeria is subsidisng fuel now..

The landing cost of fuel is close to N1200 per liter. Even with the recent hike, the government is still paying something close to N200 in subsides or more

Without subsidy we would be paying something like N1300 or more per liter of fuel

It also costs N720 to refine a liter of fuel as well.

you open your mouth waaa, just dey yarn. So it costs #720 to produce a litre of fuel under Buhari, yet he sold a litre at #160? Na wa for una oo

Jungleluv5:
World bank and IMF they are our problem here in Africa they give our clueless leaders advice that will bring hardship to us so that they will run back to the them to borrow money at high interest rates. God will punish you all

they are not. They dint force you to borrow their loans. Every loan has covenant you must keep to. Blame your leaders who borrow loans to filter them away.