₦airaland Forum

So some miscreants are still voting for APC in this Nigeria?

budaatum:
Our government is incompetent. No argument there.

Before subsidy removal, the World Bank and co did numerous studies on the impact of subsidy removal, and money was given, which the government should have added to to help alleviate the impending sufferings, but here we are.

Fact is, government can not continue to afford to subsidise, and fuel and most other things are bound to become a lot more expensive.

Tinubu said the Nigeria economy will be in trillions, and this is how we will get there. Minimum wages of ₦70k is likely to be ₦700k in a very few years time and it still would not make fuel any cheaper.

It's only Govt that's paying that wage most employers aren't ?

a significant portion of what consumers pay is directed towards government taxes. “It is important to recognize that the price paid by consumers at the pump is determined by multiple factors, including crude oil prices, refining, transportation, and, notably, taxes,” Al Ghais pointed out

In our case, the crude oil is refined locally so remove transportation.
Also, it's sold in the local currency( however, there are some discrepancies in this claim because Dangote claimed it only sold in the equivalent of the exchange rate to dollar )

In all, the FG is to blame for the high cost in Nigeria.
You remove subsidy and you still impose heavy tax on crude oil refining

So now 100k will pay #50

And so on.

Ok, what of the ones already collected from my shikini. 10,000, do I get a refund?

Don't Russian use phones too?

It's even the US that is capable of doing such thing to their enemy but they can't do such because of the level of transparency and accountability in the US

We all know that already but Tinubu made a mess of an already bad situation.

He didn't solve any problem Buhari created. He didn't even admit Buhari created any problem

ShoeGetSize:
They will also lay off a lot of workers. Many small and medium scale industries will also lay off workers.

It will backfire eventually because a privately owned business can only pay from what it earns as profit and even most so called large companies in Nigeria are struggling to make marginal profits.

Not every private business generates massive profit like banks and telcos.

Some can't even pay their Head teacher the minimum wage

It's an attack on terror

Biodun556:
This is nothing but a terror attack

Anywhere you see food, chop I.

We eat for energy nowaday

DevilsEqual:


I like how most Yoruba persons have publicly lashed out PBAT,
Deji,Sowore, Adegboruwa,Gani Adams,Adebanjo, Afenifere, Falana.... The list long abeg


By far the most liberal group in Nigeria. The only group that has stood up against every Nigerian President(their sons or not) since 1999

Just Wow!!!


As for this one, He just wanna dey do like low-budget Fela(pun intended)...If we are being honest with ourselves, as at that May2029 that PBAT was sworn in, there was no way he wasnt gonna remove the subsidy that Buhari's budget never covered post June 2023. Na just rant be this one

But Tinubu knows how to ask for supplementary budget to fund his luxurious life style.

It's only poor Nigerians that must live thru his tough decisions.

TossTos:
They are very much interested in importation of pms because their lies are covered there than getting locally or via DRL

Can we now blame them when Dangote as gone into an agreement with NNPCL to make locally refined fuel more expensive than imported one?

At this point, intelligent people would say "I better stop messing with Israel."

Unfortunately, we're not dealing with intelligent people.

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