₦airaland Forum

Salewa97:
The NNPCL price is not fixed, it's just a guide price.

Falana should stop being petty

You are the one being petty here.

With #950 being the cheapest price marketers can only sell higher , not lower.

But most marketers are even selling lower with what they have in store. I bought at Total #860 this evening.

With what. NNPCL is doing marketers will end up still importing fuel since it's cheaper when imported

This is a job for the DSS undercover but they're busy going after any critic of the FG

This NNPCL is not only corrupt but clueless

I guess IPMAN didn't know all these before. Better email them

Zionmdde:
If you think the total cost of imported fuel was less than 1500, then you are mistaken

Nnpc was paying subsidy on a low key, that was the reason fuel price was what it was

The new price of dangote is the true price without subsidy

Biodun556:
Nigerians should be patient. The price of petrol will eventually fall

Please, stop telling Nigerians to be patient with APC.

We were patient for 8 years while we watched Buhari totally destroy our economy.

Now, we should be patient again.

bdon123:
We hav d lowest of quality petrol around d world....if u dont bliev me google it.our petrol is 85 octane or even less.In europe it is 91 upwards.wat our low octane means is we are not even supposed to hav Mercedes benz in our society becos benz as per manufacturer instructions is at least 91 octane rating petrol.u should do a little research.Now dangote wants to sell both lower quality n higher quality which is wat is applicable around d western world .

How do we differentiate the two ?

bdon123:
That is not true...landing cost for lower quality pms is around 1100.Government was subsizing to bring it to around 700.Why cant govt subsidize jst 30% of wat itwas doing before to bring it to around 700.bear in mind we were subsidizing for neigboring countries too bt that will all become a thing ofpast...therefore cost of subsizing will be far lower.Its either that or giv dangote cheap crude to exchange for products.

What do you mean by lower quality?

This Dangote fuel burns faster than the one we are used to.
That is the shocker that awaits Nigerians
When you buy 50litres at 50k and finish it in three days

tete7000:
Nobody has ever analysed the pros and cons of this CNG thing. They just keep pushing in their propaganda manner to obscure the evil they are perpetrating with pms.

Govt official should first convert their cars. They should lead by example

Has Tinubu, his minister and public officeholders converted their own official vehicles ?

TreasureJunky:
We were behind dangote when Tinubu was prosecuting him about selling crude oil in dollars to him, now this is what he paid us with.l, it's well.
By the way,, there are many releases about the price of Dangote fuel, one said 868, another one said 788, one said 898, and this one is 950 now, we don't know what to believe again in this country.

The badge NNPCL took yesterday was bought by Dangote in dollars in the International Market. The one NNPCL sold to him in Naira will be ready by October according to Dangote Refinery.

The news is that there won't be much difference even with that because of :
1. Corruption in FG and NNPCL
2. They're just saying it's bought in Naira. The Naira paid was the equivalent of the dollar exchange rate.
So you see, things can only get worse under this FG

As expected, things can only get worse under APC

PureFace1:
Dangote is now sounding like a broken record

He can easily make an official announcement of the price he will sell it, if he's serious.

I'm sure he had signed a none disclosure agreement with the FG.

This is the transparency Nigerian need.
See NNPCL trying to bring corruption into the process already.

Since it has now been confirmed that this current supply was bought at the international market in dollars #766 seems reasonable.
But wait o, so we will to wait again toll October to know what these people already know ?

lithiumnigeria:
When we tried to explain this thing 5 years ago, we were called enemies of progress.
Refining PMS worldwide is a very very low margin business. Refineries normally take like 4-5 Months Forward PMS Off-take Contract so that they can also do forward purchase of crude. It’s a liquidity business.
Somehow, Nigerians were erroneously convinced that it will be cheaper.

As it is, it is obvious that NNPCL is even doing Dangote a favour by being the sole offtaker.
Dangote needs liquidity. Only NNPCL can give him.

Somehow, Nigerians were erroneously convinced that it will be cheaper

Why won't we assume so, isn't that what politicians have and stakeholders have been saying since? Other countries with local Refineries buy cheaper so why should we be different?
Egypt, Lybia, Angola, Sudan and Algeria all refine locally and they have cheaper fuel than us. That of Egypt, I know for a fact.

https://businessday.ng/energy/oilandgas/article/top-10-african-countries-with-cheapest-fuel-at-the-outset-of-2024/

As it is, it is obvious that NNPCL is even doing Dangote a favour by being the sole offtaker.
Dangote needs liquidity. Only NNPCL can give him

Are the marketers not paying NNPCL upfront already?
NNPCL collected so much money upfront from marketers that they had to yank off their portal to enable them clear the backlog of orders made by marketers.
So your idea that only NNPCL can provide Dangote with constant liquidity doesn't fly- Shove it where the sun doesn't shine.

The FG should be bold to state Nigerians are pay the price for the corruption and greed of politicians.
Only corruption and greed is making Nigerians pay more and not some theoretical statistics

Who cares

lextube:
It'll be good if it's sold at around 800 naira.

Really.

Flangelo12:
You see what I mean?

Your immediate inclination is towards a criminal act.

You go into agreement with the producers for supply or you buy from the international market, just as Dangote is doing.

Do you want it another way?

So a modular refinery will do all that? With all the bottleneck procedures that even Dangote found daunting?
Stop playing around, we all can't set up a refinery just because we put corrupt people in govt.
The best we can do is kick them out

Gadafii:
I thought subsidy was mean for imported fuel, why pay for the one that's locally sources and refined, dear FG

Normally, dangote fuel no supposed reach 400N, but the wicked and corrupt NNPC wouldn't let that be, that was why they opted to set the price earlier, because I don't understand why you would pay subsidy for a locally refined fuel

You don't get this people?

The price isn't up to that. Dangote too is just playing along.
Now ,they'll claim they are paying subsidy by reducing the price when we all know the price isn't supposed to be up to that.
I just give up on this govt

Nothing that'll benefit Nigerians can ever come out from this current Tinubu-led FG.

Don't hope for it. The earlier you except little , the least disappointed you will get

Flangelo12:
Nobody had ever stopped modular refineries from working.

Nigerians don't take business risks unless when it includes fraud.

They wait for someone to do all the heavy lifting then complain it is a monopoly.

If you don't steal the crude oil, tell me how else will you buy it?
Is it for sale to local buyers? Even Dangote Refinery cried hell before it was sold to him. And that's a whole Refinery

I've had it!

sparko1:
Buying and selling of crude is governed by the international market, the only difference is we pay in Naira now instead of dollar, the price doesn't reduce.

There is no exchange rate involved.
It's like buying and selling locally.
Dangote should be transparent and tell us how much it cost him to refine a barrel of crude.
I'm just tired of all these shenanigans.

How can international market determine what we already have here and it's also refined here ?

Flangelo12:
You can refine yours though.

Will they permit it?

What happened to all the modular refineries. Or are you new in this country ?

richmond500:
it's not scam, he can't sell lower than that

We all know Nigerians bizmen are cruel. Just like the rice people that said FG should banned the importation of rice to drive local production. When FG banned it, what did we have? The prices skyrocketed.
Same with this local refineries. Now you're telling us they have to sell locally at foreign price.

Well, we're all in it together

mikeapollo:
Jobs have been created; the naira will be strengthened against the dollar.

The jobs created have nothing to do with beginning locally and still selling at #820 ( and that's if we're fortunate)

You can still create jobs and set a realistic pump price not one that'll further improvish Nigerians

Scammers.


Imagine this people scamming a whole nation.

So this is what it means to refine locally?
No difference

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.

Can't NNPCL simply announce the price itss buying from Dangote? After all, its a public enterprise that is controlled by FOI

This is nothing but a scam.

I've been saying that all the latest increase is geared towards Dangote Refinery

He was also sighted in Laondon

Racoon:
Nothing cool about deceptively shifting the goal post based on deep seated corruption and no one being held accountable while the resources of this nation is being wasted on frivolity

My problem is that as bad and corrupt this FG is some foolish Nigerians still support them

DeLaRue:
Even that one will not sell cheaper than Dangote.

At least lets know the status.
Because of Dangote Refinery NNPCL has kept quiet about it and no one is asking them again

DeLaRue:
The question is, who are the FG and Nigerian Customs.

Are they not Nigerians from this same society where corruption is rampant?

Why do you think Nigerian Customs will be any different.

And if it was that easy to find many honest Nigerians, every government since independence would have solved the issue of corruption.

But they haven't and they can't.

In a nutshell, we're in a quagmire and things can only get worst.