₦airaland Forum

grandstar:
Who told you more refineries will reduce the price?

Fun facts: Brent crude is currently 49cents per litre. Multiply by the black market rate of 700 and you have 343.per litre. That is the price before refining costs have been added.

Fun fact: The price is of crude oil is decided internationally. If tomorrow, the price increases to 65cents per litre, the price will go up, even if there are 10,000 modular refineries. They can't purchase their basic raw material at a certain price and sell below production cost.

Fun fact: Refineries are exposed to massive losses

They can buy crude oil at $80 dollars and by the time they want to refineries and sell their refined products,the crude oil price might have crashed to $50.

This bankrupted Otedola in the 2009. He bought diesel in 2008 when the cride oil price was $128/barrel and it had collapsed to $35 in 2009.

For refineries to protect themselves from such volatility, they hedge themselves against such price swings by engaging in forward contracts, options etc.

Perhaps, that's why those in refining call it a "lousy business"

I would appreciate it if an economist 4play or Blue3k, omohayek can explain this better. Please help out with forward contracts and options.(not compulsory though)

Idaytesj29:
Govt should not subsidize anything. Enough is enough

sammychimex:
Are you talking about another subsidy again? What do you guys smoke sef?

LeoDeKing:
Tinubu should be firm with his decision.

Criminals benefiting from the subsidy scam can cry blood, subsidy is gone, make dem go chop the one wey dey don save.

Funds for fuel subsidy will be invested in other sectors for the benefit of Nigerians instead of few criminals.

Yes, it will be difficult but for our good.

For those who said Tinubu is not their president, they can ignore this subsidy removal from Tinubu and comply with Peter Obi's contrary directive.

inoki247:
Lol what's the adjustment for again I tot they've removed Subsidy why still trying to determine the Price...

successmatters:
It's N750 at Mushin Lagos now.

LeoDeKing:
Subsidy removal is an era, all presidential aspirants including pandora Obituary campaigned with it.

sonature1:
If Bola Tinubu totally removes the PMS subsidy, that move will worsen the hardship of Nigerians.

Chidolalar:
Nah bcuz religious belief don make u become blind to reality and Kon dey reason illogically

Chidolalar:
If we can't question God den God should have existed alone and all to himself rather than creating humans that didn't ask or tell him to create them

VinnyBaba:
Bro, all Girls are NOT the same.

There are some Girls that still hold on to Morality principles.🙂

Why some Girls are Quite Easy to Fcvk diz days is because of their
cravings for Iphone, Designer dresses, Handbags, Sharwama, Vanilla Ice-cream, etc.😏

There are some Girls that are NOT moved by those things.

SisterAnn:
They will soon be hear to label your dad a Simp without first walking in his shoes.

Once things fall apart and the center cannot hold anymore, separation is the only way out.

YouandiAllofus:
While i can't tell if any attempt was initiated to get luis enrique, i think he would be a better fit compared to pochettino with this present set of players at chelsea.

CuriousMind2022:
I am a family-oriented person, I have always dreamt of having a peaceful, loving, and Godly home but unfortunately, the reverse is the case for my wife. I began to understand why family background is very important in a person's life, after getting married. My wife is from a family where they place little or no value on marriage. Her mother had children with 2 men, and my wife is obviously working very hard to follow that same path. She shows little or no enthusiasm in making our marriage work. I am always the one to initiate moves to resolve issues when we quarrel, whether I am right or wrong, I do not care, my focus is just on making my marriage work and my home peaceful.

irepnaija4eva:
Until Men come to full realization that they are the prize, childish attitude and disrespect will always surfice in that marriage..

Imagine spending millions in your wedding just to bring in trouble and disrespect in your home?
To me, i think the OP is too soft for manipulation.
Kai..

LordHarrizona:
E pain you abi say Na your brother betrayed the whole of Africa!
Now the world now knows exactly who you people are 😝

moneyissweet:
Yoruba with habits of betraying people...Bro just poured sand into millions of Nigerians garri.

You go collect