juvewalex:
He didn't explain why local production won't reduce fuel price , if you're producing in Nigeria, will there still be a landing cost ?

Nigeria government is never straight forward in dealing with its citizens.

Na still corruption be this anyways.

There's standard price for crude oil which is the raw material. Refining crude oil is done at international best practice, not religious or tribal charities.

Only agbadorians & zombies think otherwise before

LordReed:


What is the current landing cost of petrol in Nigeria?

Circa 450 I hear.

-Lord

E no go better for minister of petroleum

All these is cock and bull story. Allow as many players into the fencing sector and allow free market economy take shape.

This dangote celebration is just another means of economically pinning down the growth of Nigeria.

# govt ABRACADABRA

# 2 + 2 = 10

# LIFELESS to ESCOBAR!

hush15:



Price of operating the plant is not in naira. Government will not sell crude to dangote in naira. More importantly, dangote na front man. The real board of directors are these politicians. You think they don't know what they doing?

Bros all this things you are mentioning also apply to the companies exporting fuel to Nigeria.

There is no cost of importation (for local refineries), so it should be cheaper. That's the difference.

Economics is not hard, na the wickedness of man dey ruin this country.

[You get sense. It took Tinubu a lot of sacrifice to sit there as president. He wants to recover as soon as possible. I pity Nigeria. Me I just want find way japa.quote author=Shedrack777 post=123522801]tinubu is a big share holder in that refinery reason he removes the subsidy[/quote]

AareGaa:


Go and get a licence and start your own refinery.
Govt has given licences to several operators.

Stop envying Dangote because he is not from your region. We know you, bitter people

Opono!! You that is from his region, hope you are buying at #120 ? Foolish fool

AareGaa:


Dangote is not the only cement Company in Nigeria. Stop giving yourself frustration just because the man is succeeding where others have failed.

Why didn't you join Dangote to bid for Benue cement? Because, it was an open bidding then.

We know the bitter people on this forum.
Any successful person who does not hail from their region is hated by them. It's in their DNA

Why did he politically outsmart IBETO Cement , Rock Cement nko?
Be mindful of your statements o. Ehen.

gimakon2:


Na so.
E day disturb you because i mentioned Ronus?
You people made us understand there are differences in Yoruba, there is Yoruba who are reasonable and wanted a better Leader who knows strategy and would not want to sell the future of their kids for nonsense, and the Ronus, who wanted a Leader who speaks their Language, and has absolutely no idea of what he is doing. Because I said something, you want to turn it to a brawl, fortnately, i dont have your time, you hear me. Wail all you like, one day you will become reasonable!

Your Messiah started on the wrong foot. Deal with it.
His advicers are Mediocre (if I say Mediocre, I am being fair), His advicers are wack and i need to be very blunt, Dude has absolutely idea of Nothing. If he knew something he would have done a research before metting out suffering on you and Me, I apologise for Nothing, and If you want me to say it, I would say it again, because I want you Ronus, to have sense of belonging when voting a Leader, you cannot continue to bring nonsense for us in this country, First una bring Buhari, now this one, Next una go bring Sheyi Tinubu way day use Security enter Toilet go shit__ and force him on us for us to Vote. When the suffer come, you go talk maybe e day ask if you be Igbo or Yoruba or Hausa. Sense no cost.

Truth is bitter, but someone has to say it.

Blah blah blah. None of this new batch of ranting has anything whatsoever to do with the basic economics of the situation. All you've established is that you're like every other fanatical tribalist whose only goal in life seems to be to derail every discussion to advance his or her pet conspiracy theories.

Freelancer2020:




They always think ppl are dunce, how can you compare the cost of a product made locally to the one refined in a foreign land, and they need to be careful tbh.

People are dunce and the always count on it. It is humans that voted for them. Hey!

Lincton:
What do you expect from a monopoly market?

Local production that will be Knocking engines just watch

There will be reduction, but not as much expected. I watched the interview. He said international price of crude, and refining cost will still be applicable to domestic production, while putting cost of shipping at about N21/litre

omohayek:

Blah blah blah. None of this new batch of ranting has anything whatsoever to do with the basic economics of the situation. All you've established is that you're like every other fanatical tribalist whose only goal in life seems to be to derail every discussion to advance his or her pet conspiracy theories.

Lol,
make I follow u support rubbish? As an ibo man i voted obasanjo and yaradua.
I cannot support nonsense to be non tribalistic, na your stupid thinking be that, and i dont care.

There will nn need for dollars for importation, no landing cost, no shipping fee, no custom duties, no demurrage etc but price will still not change.


Urchiins over to you.

I have always said that successive Nigerian governments have never been sincere with Nigeria. These guys are simply paving the way for Dangote to sell his fuel at 1000 naira per liter. Now look at what this man is saying as if he knew what price Dangote will sell already. This subsidy removal bullcrap is simply a ploy to free up more funds for the thieving political class to steal. Such wickedness. They know that fuel is the base of our economy and tampering with the price will affect everything that goes on in the country yet they keep tampering with the price. I cannot believe this same fuel was what I sold at 65 naira per liter in 2011. Under the guise of removing subsidy, the price has jumped to 600 naira. Does it mean that they were subsidizing the fuel with almost 500 naira then? Why are we like this in this country?
So long as Nigerians continue to remain docile to the affairs that affect their daily lives these criminals in government will continue to take them for fools. They dont have money yet they used billions to settle the outgone elected criminals. Nonsense country.

Freelancer2020:




They always think ppl are dunce, how can you compare the cost of a product made locally to the one refined in a foreign land, and they need to be careful tbh.

I was actually thinking maybe na me dey overthink ami. The cost of transportation alone, should make the price crash, well like I use to say Make God come help us cause that's the only solution...

Alliswell248:


Nnpcl is now a private company same way as Dangote. No more free giveaway. Nnpcl wants to make profit, whether the product was sources locally or abroad. That is what he is saying.

no be lie

gimakon2:


Lol,
make I follow u support rubbish? As an ibo man i voted obasanjo and yaradua.
I cannot support nonsense to be non tribalistic, na your stupid thinking be that, and i dont care.

Again, all of this is utterly irrelevant. The economic analysis is what matters here, not who voted for whom. It's notable that you have nothing whatsoever to say about said economics, and how they would differ under any other government. Would Atiku or Obi have abolished the laws of supply and demand? If you have nothing to say about the economic realities at hand, all you're doing is spewing bile over the electoral defeat of your preferred candidate.

Godszilla:


https://punchng.com/dangote-ph-refineries-others-wont-change-fuel-price-nnpcl/

We all know that !

Guyman01:
Just enter any filling station and scream Yoruba Ronu or Igbos must leave Lagos and they will change the price to N80 for you

Just own this card

Is Nigeria selling the crude oil to Dangote refinery to refine and to be purchased back or paying Dangote the fee to refine it?

Examples below.
Can I take my tomatoes and pepper to where they grind pepper and I buy it back after they grind it? Is it not payment for the service I will pay?

Can I take my wood to the saw mill and buy the wood back or I will pay for the service of the saw mill operator?

persius555:
All these is cock and bull story. Allow as many players into the fencing sector and allow free market economy take shape.

This dangote celebration is just another means of economically pinning down the growth of Nigeria.

Great to see that at least a few people get it. The only reason Dangote's refinery has ever been celebrated as some sort of achievement is because most Nigerians (including the elites) are utterly ignorant of even basic economics. What's truly important is removing all the market distortions, and that means not just removing the subsidy, but abolishing import license requirements and any restrictions on who can or cannot refine domestically. A truly free market is the best guarantee that Nigerians will never be forced to pay more than global market price, but it is the one thing Nigerians of all persuasions seem to hate the most.

Kyari is olodo rabata. He knows nothing about microeconomics.

Price may not reduce drastically but it will reduce a bit.

Marketers too will fight price war, once competition becomes intense.

infinitewriter:
I ask again, what will a common Nigerian benefit from the federal government since they are running away from their responsibilities. Very soon NNPC will be privatized and it’s operation will be worse than Nepa. What a hell of a country

The only way out, is for everyone to storm the streets. Occupy the damn streets and shut down this country hijacked by criminals masquerading as government.

olisefom:
Clear enough.

The question now is is if the profits/subsidy recovered will be channelled appropriately to what will benefit Nigeria and Nigerians.

But our political class enh? Sic

This people, you don't seems to understand what they said o my oga, they said no money to even fund fuel subsidy ni and already we are on debts, like every month no money paid to nnpc for the subsidy meanwhile the money we are owing now nnpc don enter trillions because of subsidy

I beg to differ.

If the downstream sector is deregulated, then the market price of PMS should be determined by market forces, though under the supervision of the DPR, because that is the most efficient pricing of the commodity.

The recent price increase by the FG might be hiding the cost of a lot of inefficiencies within the system; a serious minded private operator might come in and do away with those assumed inefficient costs and might end up selling PMS at , or slightly below, N300 per liter.

This happened in the Telecom sector, where only one player was dominant and so ended up charging N50 per minute of call. When other players came into the Telecom sector, they introduced per second billing of calls and today, the market determined cost of calls is approximately about N36 Per minute.

Also, the NNPC is a player in the downstream sector and should not be the body to determine the cost of a liter of PMS.

No need for local refineries then, let's just be importing.
Moreover what is NNPCs business with the price Dangote wishes to sell his own PMS. Does it mean even if it cost Dangote less to produce, NNPC will force them to sell at a higher cost, or if it cost then more NNPC will force them to sell at a lower cost?

We really need to have a basis for these things, so we can think for ourselves.

The million dollar question is, how much does it refined PMS cost and how much does it cost to import to Nigeria?

QuotaSystem:


He actually isn’t making sense.

Will the shipping, handling and other overhead costs involved in fuel importation that add up to the landing cost still apply if we’re refining locally?

Kyari should stop turning economics on its head.

He is making sense!

Tinubu shld back him up with every necessary support & resources available at his disposal to keep churning out sweet wonderful policies & actions!

I stand gidigba on Ashuwaju mandate!

Guyman01:
Just enter any filling station and scream Yoruba Ronu or Igbos must leave Lagos and they will change the price to N80 for you

dat was wat exactly dis 2 "on ashuwaju mandate I stand" did oo!