₦airaland Forum

grandstar:
Does it sound pragmatic to you to sell present stock at the current price only to see that the price as increased when you go back to restock?
Who will make up for the deficit when you remember that profits of retailers are thin in the first place.

They are not a charity

Well, it may not sound practical as you have suggested.

However, you should know that so many factors are considered in making pricing decisions. In this situation, there is no technical analysis or explanation that suggests a possible price increase in the future.

Plus, if there'd be an increase in the cost of restocking incurred by the marketers, it would only be from the NNPC and the agency has ruled out a possibility of this, not even in the nearest future. Recall that even at the peak of the FX crisis last year, a special window was opened by the CBN to enable these marketers access the required FX at a price much lower than the prevailing market price. It was all in a bid to entirely eliminate any excuse of an increase in pump price or unavailability of petrol.

The only negation of the above is when a loaded marketer sells it's product or ATP (Authority to Pay) to another marketer (who is not ready to exercise the patience of queing up to load at the depot or is not even scheduled to load at all), and NNPC often advises against this as it causes diversion and other issues in most cases.

Hence, given the price at which NNPC sells to marketers, to resell at a margin to customers, they will always make profit. That said, there is no "deficit" at all as your comment suggests. It is a classic case of exploitation.

Lol...the profits of petrol retailers are far from thin. Infact, it is arguably the fattest. And this is what I KNOW as an industry participant, not hearsays. You can also see YouTube for Sanusi's argument on the subsidy debate on how other massive unhealthy profits were made by these marketers.

They are never doing us a favour! As Adams Smith posited, "It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest."

So many politics in the said industry...

Well, since it isn't just Lekki, there could be so many explanations for that.

The most likeley is as a result of recent speculations of an increase in pump price. When this happens, holders of such inventory (fuel, in this case) would stop selling now in order to sell at a higher price in the future, invariably, when such speculative price increase comes to pass. Note that these marketers purchased the fuel from the depots at the normal price. So it's not an issue of cost driving up prices. It is just to make abnormal profit, arguably driven by greed.

When this happens, it creates an artificial scarcity of petrol, thereby forcing consumers to buy more than they currently need (i.e. panic buying).

Another possible reason is shortage of supply to depots (where the marketers load) in Lagos and it's environs by the satellite depot , not ruling out the possibility of the satellite depot not being supplied from the atlas. (Basically, the flow is Atlas to Satellite depot to other various depots).

NB: The satellite depot for south west is in Sagamu, Ogun state.

A lot shaa, let me avoid too much jargon.

Lmao! Mr. "proper shows, proper venues".

lilianchilaka:
Hello, Please I would really love to get some advice from you guys.
I am a graduate of petroleum engineering and I have always had a passion for accounting but due to some family related issues, I had to go on ahead to study a course which was not accounting and by God’s grace I was able to graduate well.
But now I really want to diversify and I was torn between an MBA and ICAN and I finally made up my mind to go with ICAN.
I would really love to know how and what to do to go about it because I would say I do not know anything about it just that it’s an exam done to become a chartered accountant.
Please kindly put me through all the steps I would need to take from the scratch because I do not want to procrastinate this anymore, I would be really grateful for your response.
Thank you very much and God bless you!

Hi! Good decision you made. First, to be honest, this is the most difficult stage and that's because of your fear premised on your non-accounting background. Ironically, it is not unusual for Science and Engineering grads to ace ICAN probably because of their core mathematical background.

I suggest you take the next diet (May, 2018). I further suggest you visit a tutorial centre around you (there's a list of all certified tutorial centres in Nigeria on ICAN's website) for registration just to save you time and stress, that does not mean you can't do it all by yourself. You may also be granted exemption(s) in some courses, provided your degree is from an ICAN recognised institution (meanwhile, virtually all accredited Nigerian unis are).

Second, you have to discover yourself and what works for you. This may not be difficult for you since you have a "good" degree as you have claimed. So you know if personal reading or attending lectures is what really works for you. Personally, I will suggest you attend a good tutorial centre for lectures. ICAN goes beyond just passing for me. I love to understand the concepts very well and enjoy the class discussions. Makes my personal reading much easier too. However, we have heard several testimonies of non-accounting grads that wrote and passed all stages of ICAN without attending lectures and at one-sitting. It means it all depends on you and following a strategy that best works for you.

And to be honest, I think most of what people hear that scares them off ICAN are from those that haven't even written the exams before.

My brother/sister, ICAN, as the abbreviation suggests, is very much possible.

Hope I have been able to help. Subsequent questions are welcome too.

Would love to see your ACA testimony here in few years.

All the best!!!

This is what I have been saying. Very commendable. We should make it a habit to patronise us.

If the only customer Innoson has is the Nigerian government, it is enough for Innoson to thrive well.

ikukuhero:
...and if in the course of flying them to their places/states of deployment there is an crash, you will still come here to moan. Read thru ur advice again, consider the economic/financial implications, before u spew what's in ur medulla. Speedy healing to the sick guy.

Excuse me. Does that make air travel less safer than road? Do you know how many corpers die yearly due to this negligence? Do you know over one million naira is allegedly budgeted for each corper and flying them to their statea of deployment is too much too ask out of a budget of 70 billion plus? Lol! The economic and financial implications seem to be positive. If you think otherwise, I guess you forgot to mention because you were more interesred in throwing tantrum rather than engage in an objective argument premised on facts?

Next time, learn to listen to opposing opinions without necessarily accepting them, it's a sign of an educated mind. If that is too much, then avoid mentioning me, going forward.

This scheme is a sham!!! You made it compulsory to waste one year of the lives of the youths by making service compulsory, is it too much to have a partnership with a domestic airline to fly these people to their various states of deployment? Now look at how Nigeria is wrecking her future by destroying those that are capable of turning things around.

When I tell graduates NYSC isn't something to look forward to, they criticise me heavily. You live one year of your life accepting all forms of crap from people that don't even match half your level of formal education (no apologies) and yet they throw you all out after one year, no plans for you at all.

And to think NYSC's budget this year alone is over 70 billion naira and they will still run to Ministry of Finance for supplement, this is what we still get.

This scheme is a sham!!! You made it compulsory to waste one year of the lives of the youths by making service compulsory, is it too much to have a partnership with a domestic airline to fly these people to their various states of deployment? Now look at how Nigeria is wrecking her future by destroying those that are capable of turning things around.

When I tell graduates NYSC isn't something to look forward to, they criticise me heavily. You live one year of your life accepting all forms of crap from people that don't even match half your level of formal education (no apologies) and yet they throw you all out after one year, no plans for you at all.

And to think NYSC's budget this year alone is over 70 billion naira and they will still run to Ministry of Finance for supplement, this is what we still get.

Owoloku1:
whats wrong if the song was written for him

Lol! They probably don't know that there are professional song writers whose sole duty is to write songs for A-list artistes (Beyonce, Rihana, Ed etc, even our own Tuface). If it's all about the lyrics, the writers could have as well hopped on the mic and make it a hit. But then, delivery is key.

More so, why aren't other artistes buying lyrics and make hits after hits despite having the money to do so or only Davido has been granted an exclusive right to access this market (if it so exists)?

This guy is something else! Very relentless. You can't just match his drive to always win and this kind of attitude is what propels success in all endeavours of man.

Mehn...Nothing Good Comes Easy Ooo...

Atiku

Atiku is a definition of the modern day political prostitute. He makes "cross-carpeting" seem so easy. I doubt any political party (and by extension, the electorates) would take him seriously. It makes him appear so desperate and that's a massive turn-off for me.

No wonder Obasanjo allegedly said "I don't know who will become President but I know who will not become President", taking a jibe at Atiku.

Ole gbe, Ole gba

May God grant you speedy recuperation

I will keep saying it. The greatest political asset of any Nigerian politician is the majority of the naive Nigerian youths. If the "one man, one vote" mantra is practically true, then this decision of the Noth-central governors would be inconsequential. How can 6 votes (of 6 governors) decide the fate of over 180 million people. How?! Because they know they can always take undue advantage of our ignorance and cowardice and when the time comes, they deploy the same strategy of deceit and before you know it, our youths are on the street for them again, of course, without the children of those they are supposedly "fighting" for.

There is one thing Nigerians don't realise- their power in deciding the fate of our leaders and that was what played out in Zimbabwe. As much as I always resist the urge to dabble into arguments on sectional politics because they usually lack objectivity, a part of me keeps praising Nnamdi Kanu for "disturbing" Nigeria for a while. It shows how much we can achieve together, as a people. That is just one person, now imagine thoudands or a million or the Nigerian youths in it's entirety standing up to hold our leaders responsible. Whether the man's demands were just or not or issues bordering on the civility of his approach is another argument. He has succeeded in passing a subtle message that things will only change when we stand-up to hold our leaders accountable for their actions and that, itself, is realizing our power as a people.

Sadly, the message has not been understood and things may not change anytime soon.

Politics

Happy Birthday Adeleke David Adedeji!

Beyond all sentiments, Davido stands out and tall today because:
- He made entry into the Nigerian music scene at a quite difficult time. When Wizkid was practically on "heat". He still pushed through.

-He is arguably the most consistent Nigerian artiste. There is NO year that he wouldn't drop atleast one track that would shut down the industry.

-He works with any producer, no matter how unpopular and still makes hits with them (Aye produced by T-spice).

He never hesitates to work with upcoming and unknown artistes and when he does, it is usually their first hit and breakthrough song (Holiday- Tekno ft Davido, Gallardo- Runtown ft Davido)

-Talk about staying true to your roots, he can't be found wanting. He came with his own well defined style of music which he has stuck to. No unnecessary "Americana" style just to fit in. That style is always evident in all his tracks (Carolina- Sauce Kid ft Davido, Biko- Lola Rae ft Davido).

-He seems to identify with the streets more. Blows pidgin like a real streeter, no "phone", no forming.

-He knows how to stay controversial (i.e. in the news) (Lol!). Sadly, it is a sine-quanon for survival in the industry.

However, I have tried to understand those who dislike him with this brief analysis. Imagine you and your friends chilling somewhere and Dangote's son walks in with his security details and all thise vibe, you may naturally dislike him with a premonition that he is proud even without having an encounter with him yet. That is the same way most guys that dislike Davido feel. More often than not, they have no genuine reason for not liking this energetic performer.

And for those who say he has a "frog voice" (Lol!), that is just one of the things that makes him unique. I have said it that the day Young Thug tries to sing like Ed-sheeran will mark the beginning of the end of his career.

And for those who accuse him of buying hits. Well, there are so many rich artistes and from wealthy backgrounds too that are struggling musically, why can't they buy hits too. Cc: Cuppy, Lynx, etc. (No disrespect to the mentioned).

Caveat: This is just an opinion with no intent of touching a nerve.

Cheers to more hits, Davido!!!

For the love of Elon Musk!!!

Pesuzok:
Becoming clearer, but is it not risky investing in a country that there only means for foreign earning is oil.

Well, as with every other investments, it is. However, I doubt that is a major concern as they must have done their due diligence as regards our capacity to fund the bond. Depending on the terms of agreement, the bond could even be backed by our external reserves (which is dollar-denominated) so that if anything goes wrong with the mainstay of our economy (which is oil), we can resort to our reserves to pay the bond holders upon redemption.

Pesuzok:
I wonder why someone will buy 10year bond at 6.5% while 1 year T.B is at 18%. Economist in the house please explain. Is it not the same risk?

*Modified*

So many other factors. Most importantly, your T.B is domestic and affected by whatever happens in the Nigerian economy (inflation, exchange rate depreciation etc). Contrarily, the Euro bond is denominated in the currency of a more stable economy with virtually no expectation of a decrease in the value of Euro (at least, Euro is not as volatile as the Naira that speculation of changes in oil price can plummet it's value). Hence, lesser risk.

In essence, this Euro bond is for investors who want to invest in Nigeria but have skepticism about the performance of the economy (and it's exchange rate) in the future. Now they can go ahead with their investment with a mitigated risk of a depletion of Naira since the bond is snow denominated in a more "trusted" currency.

Bond

ferhyntorlah:
Thanks Nevee for refreshing my memory. God bless!

Always welcome...

bkool7:
Hold your governor accountable , dont put this on Fg.
The programme is working well in Osun

Thank you. The programme has been working well in Osun, long before the central government even dreamt of it. This show of incompetence is no doubt between the FG and this particular state. However, I think a lump-sum is given to each state at specific intervals to execute the programme so it may not be totally wrong to hold the governor accountable.

ferhyntorlah:
After his ordeal with Obasanjo or is it late the Yar'Adua?

Low key is the way to go.

Lol yeah true. Very funny ordeal with OBJ. All pleas on his behalf fell on deaf ears, not excluding Awujale's intervention. At some point, OBJ even claimed he was unaware of the issue and had no hand in it, so he kept referring them to EFCC. They couldn't even take the least advantage of the fact that they hailed from the same town.That man is a character

ogechilyn:
hi everyone, I am Nwachukwu Ogechi. I read Accounting. I am graduate that plan on starting ICAN early next year (2018). But I need someone to put me thru (like a mentor) the processes.... I'll appreciate this a lot. Thanks

What are your questions exactly?

Funminicrown:
when is the next diet?

May, 2018

Adenuga is like the most "low-keyed" Nigerian billionaire. Hardly makes public appearances, hardly in the news these days. Quite unusual for someone of his status.

Valarmoghulis:
Obiano and not ibiano, stop spoiling someone's name pls

Lol! That was a honest mistake pls. Apologies.

Plus, one would think the election would end in a tie, going by the comments here earlier. But it appears to be a landslide victory for Obiano.

Ibiano!

So it's victory for Willie?

You two have how many aides again?

maklelemakukula:
This life is so funny, proves that ass-licking makes u lose value and self respect. I hope wiz kid has learned a thing or two from this. Do your thing, no dey follow people for yansh up and down, them go see you finish...do your thing, if we support you enough you'll be highly regarded. Don't change just to please people, I noticed wiz kid started doing patua in all his international songs, that's not who u you are Bro, be yourself and do your thing and be the wiz kid we've all grown to love.

Thank you. You just said it all. He has forgotten that all those international touches weren't in the first album yet we loved it. He suddenly feels what brought him there isn't needed anymore. Wizkid's first album! Damn! I still can't point to one song that isn't good enough there.