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Politics / Re: World Bank, Air Force, SHOFAC to Establish $5bn Aviation City in Osun by ol2012: 8:48am On May 03 |
This event was held in February 2023 when Oladayo Amao was still Chief of Air Staff(under President Buhari) Current Chief of Air Staff is Hassan Abubakar. I am wondering why the op is just posting it as if it happened recently 3 Likes |
Foreign Affairs / Re: Ugandan President Appoints Natasha Museveni, Governor Central Bank Of Uganda by ol2012: 11:57am On Apr 03 |
Be like say the babe stil dey single - Ms Nathasha. How person fit migrate to that country bayi? |
Politics / Re: VAT Saga: Oyo Seeks To Join Rivers’ Suit Against FG by ol2012: 1:23pm On Sep 30, 2021 |
https://www.vanguardngr.com/2021/09/vat-what-states-generated-received-in-past-8-months/amp/ I knew it was a matter time before Oyo State makes a request to be joined. One cannot but shake one's head seeing the figures generated by/allocated to Zamfara. |
Politics / Re: Obasanjo: Borrowing For Recurrent Expenditure Is Foolish by ol2012: 5:04am On Sep 20, 2021 |
post=105987944: Guy, Are you so ignorant of the time Obj was in power or just being mischievous? I get it you must keep BLINDLY supporting your darling Daddy as you call him, but not by telling silly lies. When exactly between 1999 and 2007 did Obj borrow to pay salaries? You can't be so drunk this early morning to be mistaking Obj for Jonathan. That man said the plain truth and nothing you say here will change it. May we all be alive after 2023 when we shall know exactly what happened regarding corrupt practises during this regime. 8 Likes 1 Share |
Politics / Re: VAT Amendments: NBA, SANs Caution NASS, Fault FIRS Planned Revenue Court by ol2012: 11:55am On Sep 10, 2021 |
Ibkhaleel01: Oga there's a difference between a state's Internally Generated Revenue(IGR) and Value Added Tax(VAT). The figures you quoted 20% for FCT, Rivers 6% and Kano 5% are percentages of IGR generated by each state of the total total generated by all 36 states and the FCT. What that means is that if the total IGR generated by the states and FCT say for 2020 is 100 billion. FCT generated 20 billion while Rivers generated 6 billion. The IGR is collected and administered by each state and the FCT. Now, coming to VAT, presently the FG through FIRS currently collects VAT and then the collection makes up part of what is shared between the 3 tiers of government. What Rivers and Lagos State governments are now saying is that the VAT collection and sharing formula is lopsided. And I think it makes sense cos FIRS collected 14 billion VAT in a particular month from Rivers State but shared them only 4.5 billion thereabout. The responsibility of providing adequate infrastructure to support the businesses and residents of Rivers that paid the 14 billion VAT rests on Rivers government while the got only 4 billon to shoulder the responsibility. Meanwhile a state like Katsina with a very lazy governor will generate 50 million VAT and then get 1.8 billon from FIRS VAT proceeds. That's why they keep pampering the bandits ravaging the state since there's enough money to keep paying them millions. After all, some hardworking state governments generated the monies. So if Rivers start collecting VAT directly, her IGR will increase by about 14 billion monthly while a state like Katsina or Gombe will will have to either make do with reduced income or become more innovative in increasing their IGR. It's a win win for everyone at the end of the day 1 Like |
Business / Reasons Behind Soaring Cooking Gas Price by ol2012: 12:37pm On Jul 16, 2021 |
Why Cooking gas prices are soaring in Nigeria A lot of questions have been asked about cooking gas prices When will the cooking gas price increase stop? Will cooking gas prices continue to increase? What can the Federal Government of Nigeria do about Cooking Gas? Are cooking gas prices controlled by a cartel? Would cooking gas prices drop in summer? This post attempts to explain the reason why cooking gas prices are currently on the increase When the cooking gas price trend would reverse to the downward trend Factors or reasons for the cooking gas price increase. What the Federal Government of Nigeria can do to alleviate the effect of the price increase Nigeria has experienced the highest cooking gas prices at the depot and retail side of the business. Today, 20 Metric Tons of LPG cost 7.2 Million Naira in Apapa and Delta depots. On the retail side, a 12.5kg LPG ranges from N5,000.00 to N6,000.00 in places like Owerri, Ogwashi, Port Harcourt, and Calabar. In states like Gombe, Jigawa, Katsina, a 12.5kg LPG ranges from N5,400 to N5,800.00 according to feedback from our Facebook page. Several factors are responsible for the increase of LPG prices in Nigeria. Firstly let us look a little at the past – how LPG prices reacted to some factors. In 2019 International Butane price ( Mont Belvieu ) was 234.4 USD/MT as of July 15, Depot price was N3.1 Million for a 20MT at the depot and Foreign Exchange (FX) Interbank rate was 360 Naira/USD; the price of 12.5kg was about N2,800.00. In 2020, after the Lockdown, International Butane price ( Mont Belvieu ) was 238.5 USD/MT as of July 15, Depot price was N3.7 Million for a 20MT at the depot and Foreign Exchange (FX) rate was 387 Naira/USD; the price of 12.5kg was about N3,500.00. Today, the International Butane price ( Mont Belvieu ) is in the range of 570 USD/MT, Depot price was N7.2 Million for a 20MT at the depot and Foreign Exchange (FX) rate is 411 Naira/USD; the price of 12.5kg was about N5,500.00. It is important to note that the international Mont Belvieu price on which the supply of LPG is benchmarked in Nigeria is about 60 to 65% of the Landing cost of LPG. When you include freight cost, it can be up to 85% and more when the Black market rate is used as its currently being used by importers. International Mont Belvieu prices for Butane are the highest since 2018 when they hit 595.1396 in October – the FX rate was relatively low compared to the current rate. It is also noteworthy is that prices were as high as 796 USD in the December of 2012. Today an international price of 796 USD/MT would translate to about 8 Million in Depot prices and about N6000.00 to N6500.00 per 12.5kg. historical butane prices 2012 to 2021 Historical butane prices 2012 to 2021 ( source: NASDAQ) But, the other important question is why are international Mont Belvieu prices of cooking gas unusually high, even at this time of the year. According to Argus, International (Mont Belvieu) LPG prices are unusually high as a result of low inventories of LPG in the US – one of the biggest suppliers of LPG in the world. Reduced inventory is a result of several factors; Reduction of Oil and Gas production first as a result of unprofitable Shale Oil production and of course low LPG demand as a result of the Pandemic. Increase in the demand for LPG by China who has increased activities in the Petrochemical sector where propane is increasingly required. Reduction in LPG Export by Russia causing supplier pressures on US inventory Reduction of Oil & Gas production capacity by Saudi Aramco due to OPEC agreements ( remember LPG is a by-product of Oil & Gas production). When will this increase stop, when do we expect a reversal in trend? We do not expect an improvement in supplies which would lead to less stress on prices, until the 2nd quarter of 2022, when production would have improved. But, considering that LPG demand is still high at the beginning of summer, prices may continue into the winter where LPG is needed most. A break in price increase may occur deep into the Summer – early September, but it would be temporal. The strain on supplies is likely to continue as China continues to build Petrochemical plants, Russian concentrates on local demand, OPEC cuts production and the US inventories remain at the same current levels. 2023 is most likely when we will be out of this LPG scarcity and high LPG prices. According to Analysts, this is when pre-covid production levels would return in the US, Russian inventory would be good enough for exports and OPEC increases production. What can the Federal Government of Nigeria do to stem Cooking gas/LPG price increase or alleviate the effect on Nigerians? Why FG alone can't crash cooking gas price – Marketers | Pulse Nigeria picture: Pulse Nigeria There are several ways the Federal Government can come in to help the industry, as we aspire towards the 5 Million tons target: Give FX incentives to LPG importers – LPG importers currently supplier the industry using Black Market rates ( currently above N500/USD), against Interbank rates which the Nigeria Liquefied Gas Ltd (NLNG ) employs when delivering to the Nigerian domestic market. If FX can be made available for importers, it would drive prices down considerably. Data has shown that Import accounts for about 50% of LPG supplies in the country, and this will increase with the increase in volumes – it, therefore, means that if importers continue to import at Black market rates, their landing cost of LPG would continue to be the reference price in the country. Case in point, Natural gas plants like NPDC Oredo, Kwale Hydro Carbon Ltd- Kwale, Greenville LNG- Rumuji and PNG-Umutu, all do not sell based on their production cost, they sell based on the prevailing market prices of other depots.It is important to note that the industry has grown mainly through private sector investment, so the thought of regulating the prices of the industry should not come in. The industry should be allowed to continue to grow by the forces of Demand & Supply, which has worked these past 10 years plus. Continue to keep the tax incentives going for LPG and add reduction or a temporary removal of duty on LPG equipment.There is no better way to improve the citizenry than enabling sustainable development through good health and better living standards which LPG brings – there would be no revenue losses as the citizens benefit. In conclusion, Oil and Gas prices will not continue at this rate as we have the clamor for renewables getting louder by the West. Recently the European Commission set a Net Zero target to stop the usage of fossil fuel by 2050 and an economy with net-zero greenhouse gas emissions. This would mean a significant reduction in demand for fossil fuel leading to a drop in prices. The downside of a reduction in the demand is a corresponding reduction in investment and production leasing to strain in supply which could lead to high prices. In this case, countries like Nigeria would have to stimulate local demand to meet the vast supply potential. The work starts now. Source https://lpginnigeria.com/factors-affecting-cooking-gas-prices-in-nigeria/?fbclid=IwAR0gqS88tZ4HB74QdwY7xxjaAQQ-c21ChLMTFrqEzI1LF9ce7iHLgE_XOQQ |
Business / Re: MSME Survival Fund Registration: How To Apply As Portal Opens by ol2012: 1:04pm On Dec 25, 2020 |
1 Like |
Business / Re: Get Up To $5,000 Pay Per Day Loan Without Collateral by ol2012: 9:40pm On Dec 05, 2020 |
stjewelries@gmail.com Thanks |
Foreign Affairs / Re: I Predicted Trump's Impeachment Saga & Election Loss. by ol2012: 1:27pm On Nov 08, 2020 |
Bros wait first, How far with No 14 in your list of predictions? The year is ending already |
Business / Re: Innovation To L.p.g(gas Cylinder)(i Need Your Help Guys) by ol2012: 11:29am On Aug 12, 2020 |
Mehravelli: I'm not sure you need an insider in a cylinder manufacturing company. What I think you need is the services of a "TRUSTED" and affordable lawyer who will approach technooil on your behalf. I trust that will make them give you audience rather than going on your own or through an insider. I emphasized trusted because if you are not careful, this idea of yours could easily be hijacked by anyone pretending to want to help you. I wish you the very best 1 Like |
Business / Re: Weekly Lpg Insider Report by ol2012: 9:15am On Aug 11, 2020 |
Thanks so much for posting this awesome report. I sincerely hope this continue in the coming weeks |
Politics / Re: Today Is Lockdown Deadline,yet No Statement From The FG by ol2012: 10:12pm On Apr 12, 2020 |
seborrhic:Today is day 13 and not the last day sir/ma. Lockdown started at 11pm on Monday 30 March 2020. It’ll be 14 days by 10:59 pm on Monday 13 April. However, if no official announcement is made tomorrow, the lockdown will continue as Mr President’s last statement on subject infers continuation. 7 Likes |
Pets / Re: Indian Keeps Lion At Lagos Residential Building (Photos) by ol2012: 10:07pm On Nov 17, 2019 |
Imefawulo: Loool Mr Egbeyemi isn’t tired of life yet I guess 2 Likes 1 Share |
Politics / Re: Henceforth, Loan Defaults Will Be Settled With Deposits From Other Banks by ol2012: 4:31pm On Aug 26, 2019 |
erons22: E con be like say you want chop another ban. |
Politics / Re: Buhari Picks Omoworare Babajide As Aide On National Assembly Matter, Drops Enang by ol2012: 10:43pm On Aug 12, 2019 |
visijo:Observe her belly to see if it’s protruding already or not. Then come back for a possible answer to your question |
Health / Re: 22 Signs To Watch Out For When Using A Gas Cylinder by ol2012: 4:24am On Jul 22, 2019 |
maasoap: Are you sure about this? Have you actually made any effort to get information from gas professionals? I take it you're referring to beer parlor gists by uninformed dudes as "All studies" in your comment. |
Health / Re: 22 Signs To Watch Out For When Using A Gas Cylinder by ol2012: 4:17am On Jul 22, 2019 |
Trendy247:I find this question of yours quite worrisome. How can you be safe with that? You need to change the control of that burner ASAP in your own interest. You and other occupants of that building are in GREAT danger whenever that burner is lighted in its present state. 2 Likes |
Business / Re: Before You Apply For Tony Elumelu Foundation Programme by ol2012: 10:07am On Mar 14, 2019 |
Mizwisdom: This is perhaps the funniest comment I've read on this forum so far. Just stay there and wait to meet people who have received the grant. Hopefully you'll be lucky to meet one or more before the ten year cycle ends in six years time. |
Business / Re: Before You Apply For Tony Elumelu Foundation Programme by ol2012: 11:32am On Feb 25, 2019 |
Jinoonline: Hello Brother, The videos were really helpful. Thanks so much for sharing them. However, I was wondering if you don't mind assisting to review my application before submission. Its ready now and I intend submitting tommorow or latest wednesday. Thanks once again |
Business / Re: Come In If You Need A Business Partner Or Capital by ol2012: 4:34pm On Oct 21, 2018 |
Cooking gas stjewelries@gmail.com |
Investment / Re: Investor/money Lender Needed by ol2012: 2:17pm On Oct 11, 2018 |
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Business / Re: Investor /money Lender Needed by ol2012: 2:15pm On Oct 11, 2018 |
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Investment / Re: Investor/money Lender Needed by ol2012: 10:16am On Oct 10, 2018 |
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Business / Re: Investor /money Lender Needed by ol2012: 10:13am On Oct 10, 2018 |
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Business / Re: Any Money Lender Available? by ol2012: 3:16pm On Oct 08, 2018 |
ebikay: NGN |
Investment / Re: What Can I Invest On With My #200,000. by ol2012: 11:01pm On Oct 06, 2018 |
AdiDami: Good evening bro, Like how much return are you looking at? November ending is about eight ( weeks from now. If a 10% return(NGN20,000) for the 8- week period is satisfactory, then you might want to consider investing in our existing cooking gas retail business. You get NGN220,000 by November ending. You'll visit the location and all necessary documentation with your witness and/or lawyer will be perfected before you release funds. Collateral is also available if you want to secure the investment. You can send me a PM for further discussion if interested in our offer. |
Business / Investor /money Lender Needed by ol2012: 4:58pm On Oct 01, 2018 |
Dear nairalanders, |
Investment / Investor/money Lender Needed by ol2012: 8:55am On Oct 01, 2018 |
Dear nairalanders, |
Business / Re: Can I Get A Private Money Lender by ol2012: 9:06pm On Sep 30, 2018 |
IbrahimDamola: I'm interested in your offer sir. How do we proceed from here? Sent you a PM already too |
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