NNPCL Boss Mele Kolo Kyari OFR is fixing Fuel price anyway as he likes. And every other marketer follows.

The NNPCL pricing is now the template for other marketer, he has been increasing the fuel price and defending and determine dangote selling price that is yet to come on stream. From his projections severally was that dangote will not sell for lower price to what they are already selling to Nigerians and his reasons and claim is unthinkable. Comparing imported commodity to local commodity.

I think government should subsidized the tools for convertion of CNG to Nigerians so that many people can convert to CNG especially the commencial operators.

My worried is that anything that goes up never come down in this country. A bag of local rice which no body wanted went up from 4-5k to 40k. A local quality for that matter. After the ban of foreign rice of 8k within 8years.

This same thing will likely happen to locally produced fuel when dangote come on stream is there is a ban on import fuel or other items.

Rice and Garri are the appex food commodity that influence the price of other food commodity because they are the first choice. Anything that affect their pricing will affect other food.

My suggestion. In Other to bring the price of rice down. Remove the restrictions from the imported rice. And watch as the local rice price crashed.

When the price of rice crash other food will follow as people move to eating rice.

The same thing will happen to fuel when people move to CNG.

It was the price of kerosene that Push all Nigerians to using LPG. Today all House hold don't make use of kerosene with cooking anymore. Since gas is cheaper.

A good point except for the character accusation which you can't back up

He's fixing the price for their personal business with the front name (Dangote Refinery).

Gibberish!

Too many illiterates in the country.

How can a single man be fixing prices in a deregulated market?

Nigeria needs to invest heavily into education. Schools should be privatized to deliver the best, even if it has to come with high tuition fees.

Deregulated yet NNPC is setting prices. Buhari was right, fuel subsidy (and therefore it's removal ) is a hoax. Fuel subsidy remthe unnecessary hiking up of fuel prices to generate income they intend to loot and squander with no accountability.

The moment NNPC sets a price to sell fuel at, it is regulated the price of fuel in this case it has regulated the price to be at least 7 times what the market price should be.

Sha guide, hold yourself very well coz if you die now God no go ask Tinubu ooo. E no concern God oooo

More like everyone now is setting prices in line with the new reality, that subsidy is gone.

Since NNPC is still the major supplier, everyone is taking their cue from them. As more marketers come in the price will change.(and anyway, prices differ from marketer to marketer)

But the era of cheap fuel is over. At the end of the day, with debts at 49 trillion naira and rising, with a revenue that is at best tenous, and with high rates of debt servicing from our revenue, there is no more room for cheap fuel. Unless we want to borrow more money to close the deficit that would arise if we kept subsidy.

The show is over.

fineboynl:


My suggestion. In Other to bring the price of rice down. Remove the restrictions from the imported rice. And watch ss the local rice price crashed.

When the price of rice crash other food will follow as people move to eating rice.

It is not as simple as that.

Before Nigeria started producing rice in large scale a few years ago, we were spending over $2 billion dollars a year importing rice.

If the last administration had not banned import and encouraged local production, we would probably be spending $3 - $3.5 billion now. And the amount would have continued to increase every year.

Now, we are able to produce a lot of rice, with tens of thousands of farmers gainfully employed and hundreds of billions invested by large corporations too.

Besides the above benefits, producing our own rice means we are less dependent on other countries and it improves our food security.

Now. do you prefer that we throw all these away, send $3.5 billion to Thailand to keep their own farmers employed (while ours lose their jobs) and also strengthen their economy while destroying our currency just so we can buy a bag of rice for may be N30, 000? In any case, if we go by experience, once the importers destroy local production with initial cheaper price, they will soon increase their price to the same N40k or more. What will you do then.

And every month the whole country will be monitoring the news to check whether the ship from Thailand is on its way to Apapa, or the country goes hungry.

Do you really prefer that?

Governing a country is far more complex than some of the simple solutions that we are so sure will work.

fineboynl:
NNPCL Boss Mele Kolo Kyari OFR is fixing Fuel price anyway as he likes. And I every other marketer follows.

The NNPCL pricing is now the template for other marketer, ha has been defending the fuel price and defending and determine dangote selling price that is yet to come on stream. From his projections severally was that dangote will not sell for lower price to what they are already selling to Nigerians and his reasons and claim is unthinkable. Comparing imported commodity to import commodity.

I think government should subsidized the tools for convertion of CNG to Nigerians so that many people can convert to CNG especially the commencial operators.

My worried is that anything that goes up never come down in this country. A bag of local rice which no body wanted went up from 4-5k to 40k. A local quality for that matter. After the ban of foreign rice of 8k within 8years.

This same thing will likely happen to locally produced fuel when dangote come on stream is there is a ban on import fuel or other items.

Rice and Garri are the appex food commodity that influence the price of other food commodity because they are the first choice. Anything that affect their pricing will affect other food.

My suggestion. In Other to bring the price of rice down. Remove the restrictions from the imported rice. And watch ss the local rice price crashed.

When the price of rice crash other food will follow as people move to eating rice.

The same thing will happen to fuel when people mice to CNG.

It was the price of kerosene that Push all Nigerians to using LPG. Today all House hold don't make use of kerosene with cooking anymore. Since gas is cheaper.

If you have a car and you do buy fuel, you wont have created this thread. The price of petrol is not the same at every filling station.

DeLaRue:


It is not as simple as that.

Before Nigeria started producing rice in large scale a few years ago, we were spending over $2 billion dollars a year importing rice.

If the last administration had not banned import and encouraged local production, we would probably be spending $3 - $3.5 billion now. And the amount would have continued to increase every year.

Now, we are able to produce a lot of rice, with tens of thousands of farmers gainfully employed and hundreds of billions invested by large corporations too.

Besides the above benefits, producing our own rice means we are less dependent on other countries and it improves our food security.

Now. do you prefer that we throw all these away, send $3.5 billion to Thailand to keep their own farmers employed (while ours lose their jobs) and also strengthen their economy while destroying our currency just so we can buy a bag of rice for may be N30, 000?

And every month the whole country will be monitoring the news to check whether the ship from Thailand is on its way to Apapa, or the country goes hungry.

Do you really prefer that?

Governing a country is far more complex than some of the simple solutions that we are so sure will work.

Government won't be subsidizing the rice, importers will be the one to sourve for thier own dollar. Rice is too expensive in Nigeria, I agree with the OP, the FG should let importers import rice from our neigbouring countries. Our farmers have been giving enough time to grow, rice is extremely expensive for Nigerians presently. When the Dangote refinery start operation, it does not mean the importation of oil will be banned in Nigeria.

DeLaRue:


It is not as simple as that.

Before Nigeria started producing rice in large scale a few years ago, we were spending over $2 billion dollars a year importing rice.

If the last administration had not banned import and encouraged local production, we would probably be spending $3 - $3.5 billion now. And the amount would have continued to increase every year.

Now, we are able to produce a lot of rice, with tens of thousands of farmers gainfully employed and hundreds of billions invested by large corporations too.

Besides the above benefits, producing our own rice means we are less dependent on other countries and it improves our food security.

Now. do you prefer that we throw all these away, send $3.5 billion to Thailand to keep their own farmers employed (while ours lose their jobs) and also strengthen their economy while destroying our currency just so we can buy a bag of rice for may be N30, 000? If we go by experience, once the importers destroy local production with initial cheaper price, they will soon increase their price to the same N40k or more. What will you do then.

And every month the whole country will be monitoring the news to check whether the ship from Thailand is on its way to Apapa, or the country goes hungry.

Do you really prefer that?

Governing a country is far more complex than some of the simple solutions that we are so sure will work.

Let the local farmers export their rice to Thailand to earn forex in billions of dollars. That will keep them employed and richer. Allow poor Nigerians to breath by importing 8k bag of rice from Thailand. It is better to wait for 8k rice at Apapa than to buy 40k rice from Nigerian farmers

Ikaeniyan0:


Government won't be subsidizing the rice, importers will be the one to sourve for thier own dollar. Rice is too expensive in Nigeria, I agree with the OP, the FG should let importers import rice from our neigbouring countries. Our farmers have been giving enough time to grow, rice is extremely expensive for Nigerians presently.

This idea that importers will 'source their own dollar'. From where exactly can they source the dollar that it won't affect the value of the naira.

We only started growing rice in large scale probably less than 7 years, and according to you we should penalise the farmers for not growing enough.

So, when these farmers become unemployed because they can't compete with so-called cheap imported rice, and they turn to banditry, armed robbery and terrorism, then we start blaming the government for lack of jobs

And then the government has to spend billions of dollars, that we borrow, to buy more military equipment.

And the more the government borrows, the more the naira value falls, which will cause more inflation, which will lead to more company closures, which will result in widespread job losses, and then more strife in society.

Can you not see it is a horrible vicious circle.

All for cheaper bowl of rice?

femicyrus:

Let the local farmers export their rice to Thailand to earn forex in billions of dollars. That will keep them employed and richer. Allow poor Nigerians to breath by importing 8k bag of rice from Thailand. It is better to wait for 8k rice at Apapa than to buy 40k rice from Nigerian farmers

So, you know any country in the world where a bag of rice is currently N8k.

Please mention.

DeLaRue:


So, you know any country in the world where a bag of rice is currently N8k.

Please mention.

I don't know
Just allow Thailand rice to compete with local farmers rice in the market first and see wonders.

femicyrus:

I don't know
Just allow Thailand rice to compete with local farmers rice in the market first and see wonders.

While I agree with you that banning imports is not exactly the way to go, the fact is, overimportation is a big part of why we do not have jobs and why we have issues like banditry and other criminal issues.

No jobs, no work...crime rises.

At the end, people want to be paid for their work. If you were selling rice, would you sell a 50kg bag at N1000 so that you can help the poor? No you won't.

nairalanda1:


While I agree with you that banning imports is not exactly the way to go, the fact is, overimportation is a big part of why we do not have jobs and why we have issues like banditry and other criminal issues.

No jobs, no work...crime rises.

At the end, people want to be paid for their work. If you were selling rice, would you sell a 50kg bag at N1000 so that you can help the poor? No you won't.

Are you saying importing and exporting is not a job?
So only farming creates employment!
Trade and investment is for what exactly?
Job elimination?
How many people has farming employed compared to trade?
The value chain created by importing is nothing compared to farming.

The same farming that bandits and herdsmen won't allow to thrive?

femicyrus:

Are you saying importing and exporting is not a job?
So only farming creates employment!
Trade and investment is for what exactly?
Job elimination?

Importing is a job, but at the end, it has the effect of stifling industries at home (we lost our textile industry partly because of cheaper imports from abroad, for example).

Yeah, we all want cheap stuff, but at the end, we have to beware about the effects on jobs.

(This is a big issue in the USA. Americans want cheap stuff, so companies do most manufacturing abroad, where there is cheap labor and reimport the thing back to the US, meanwhile USA loses jobs because no one wants to make things in USA because labour is expensive).

At the end, however, there has to be more mechanized rice farming in Nigeria....so that we can have increased production and possibly lower prices.

It's a connundrum.

nairalanda1:


Importing is a job, but at the end, it has the effect of stifling industries at home (we lost our textile industry partly because of cheaper imports from abroad, for example).

Yeah, we all want cheap stuff, but at the end, we have to beware about the effects on jobs.

(This is a big issue in the USA. Americans want cheap stuff, so companies do most manufacturing abroad, where there is cheap labor and reimport the thing back to the US, meanwhile USA loses jobs because no one wants to make things in USA because labour is expensive).

At the end, however, there has to be more mechanized rice farming in Nigeria....so that we can have increased production and possibly lower prices.

It's a connundrum.

We live in a wicked country where you give farmers free seedlings, seeds, fertilizer, tools, equipment, CBN direct cash intervention and yet their produce selling price cannot compete at the international market. Yet we ban any competition by import ban just to spite us by seeing international price online but buying at outrageous local prices

DeLaRue:


This idea that importers will 'source their own dollar'. From where exactly can they source the dollar that it won't affect the value of the naira.

We only started growing rice in large scale probably less than 7 years, and according to you we should penalise the farmers for not growing enough.

So, when these farmers become unemployed because they can't compete with so-called cheap imported rice, and they turn to banditry, armed robbery and terrorism, then we start blaming the government for lack of jobs

And then the government has to spend billions of dollars, that we borrow, to buy more military equipment.

And the more the government borrows, the more the naira value falls, which will cause more inflation, which will lead to more company closures, which will result in widespread job losses, and then more strife in society.

Can you not see it is a horrible vicious circle.

All for cheaper bowl of rice?

I have been importing to Nigeria for over 6 yrs now, I have never sourced fx from cbn b4. Serious importers know how to get their fx.

femicyrus:

I don't know
Just allow Thailand rice to compete with local farmers rice in the market first and see wonders.

The local farmers will become serious and innovative when their is competition.

femicyrus:

We live in a wicked country where you give farmers free seedlings, seeds, fertilizer, tools, equipment, CBN direct cash intervention and yet their produce selling price cannot compete at the international market

It is competing. The issue is

The climate and the cost of labour.

Nigerian rice is very labour intensive, and is grown on irrigated land...which means a lot of extra costs

Thai rice is grown in a country that is basically forested and rainy. And has an environment good for rice growing. Same thing happens in Brazil. Also, mechanized.

So, the only way for a Nigerian farmer to stay competitive and pay for the extra costs is by selling at high prices.

If Nigeria was like Thailand...forested, with a lot of rivers, and with all year rain....rice would be very very cheap.

DeLaRue:


It is not as simple as that.

Before Nigeria started producing rice in large scale a few years ago, we were spending over $2 billion dollars a year importing rice.

If the last administration had not banned import and encouraged local production, we would probably be spending $3 - $3.5 billion now. And the amount would have continued to increase every year.

Now, we are able to produce a lot of rice, with tens of thousands of farmers gainfully employed and hundreds of billions invested by large corporations too.

Besides the above benefits, producing our own rice means we are less dependent on other countries and it improves our food security.

Now. do you prefer that we throw all these away, send $3.5 billion to Thailand to keep their own farmers employed (while ours lose their jobs) and also strengthen their economy while destroying our currency just so we can buy a bag of rice for may be N30, 000? In any case, if we go by experience, once the importers destroy local production with initial cheaper price, they will soon increase their price to the same N40k or more. What will you do then.

And every month the whole country will be monitoring the news to check whether the ship from Thailand is on its way to Apapa, or the country goes hungry.

Do you really prefer that?

Governing a country is far more complex than some of the simple solutions that we are so sure will work.

how have we fair since the closing of border? Are we better of or things have worst off? How much was dollar 8 years ago and how much it is now?

Besides that figure is laughable. No way we would have spent that. Wether you like it or not there is till imported rice. The local rice was only for the poor. Something was wrong with the policies of the last administration.

Na them sabi

nairalanda1:


It is competing. The issue is

The climate and the cost of labour.

Nigerian rice is very labour intensive, and is grown on irrigated land...which means a lot of extra costs

Thai rice is grown in a country that is basically forested and rainy. And has an environment good for rice growing. Same thing happens in Brazil. Also, mechanized.

So, the only way for a Nigerian farmer to stay competitive and pay for the extra costs is by selling at high prices.

If Nigeria was like Thailand...forested, with a lot of rivers, and with all year rain....rice would be very very cheap.

Just like saying we should ban importation of petrol to allow Kaduna and portharcourt refineries only to produce the petrol we consume locally for many years now not minding if it quantity and cost will cripple the economy of the nation as a whole just to save the jobs of the rich children working there.
You know we can't survive on that but since expensive rice only affects the poor, the poor are free to die?

They kept collecting salary as workers at the refinery till date with the rate at which we import petrol.
Why can't we also allow the poor to also breath with cheaper rice importation?

Nigeria farmer cannot sell their rice to any country other than Nigeria. The reason is very clear.

The rice is the most dirty and of low quality and as well the most expensive.

I repeat no country needs Nigeria rice. So we should all die because we want to grow our farmer who are only 1%. It's just like saying removing the Subsidy because it's only favor few people.
Why is the rice farmer the same.

Rice is like Pms. Anything affect it price will affect other food. Rice is the staples food in Nigeria.

nairalanda1:


It is competing. The issue is

The climate and the cost of labour.

Nigerian rice is very labour intensive, and is grown on irrigated land...which means a lot of extra costs

Thai rice is grown in a country that is basically forested and rainy. And has an environment good for rice growing. Same thing happens in Brazil. Also, mechanized.

So, the only way for a Nigerian farmer to stay competitive and pay for the extra costs is by selling at high prices.

If Nigeria was like Thailand...forested, with a lot of rivers, and with all year rain....rice would be very very cheap.

it is not. Before the closing of border and ban on rice. There have always be local rice. But because no one wanted it the price was very low.

But when the ban of import rice the price begin to go up because of demand and we were not prepared. The damnd for rice cause a surge of local rice crossing 10k. Many farmers saw the rush into rice because of the price and opportunities. Within few months it cross 18k which was then the minimum wage. Minimum wage was increased to 30k. The local rice still crossed 30k.

So tell me how did a rice of between 3k-4k of yesterday now selling above minimum wage? It was market fixing and because there were no competition.

That policy is a bad one. We haven't fair well with that policy.

.