₦airaland Forum

Kukutente23:
But Venezuela has 30m population and crude production of less than 1m and fuel is still cheaper than Nigeria.

And their fuel has a high sulphur content which also means costs of refining rise....plus they got massive debt, and also low earnings, and losses from smuggling across the border.

All from over subsidising fuel that if sold at a profit, the problems won;t have arisen.

sweetgala:
The price wouldn't be lower the financial capacity of the citizens would only be better.

All in all, the economy and our earnings have to improve, though this being Nigeria...

sweetgala:
" Illiterate north " abeg do tell.whst village you come from.

The average northerner is more politically and socially literate and savy than his/her southern counterpart

How did you arrive at the conclusion that average northerner is more literate than his southern counterpart. Are you just rehashing the bunkum from some sycophant public commentator or you've lived and interacted with northerners?

franugo:
This isn't clear, if our refineries are working and we do not need to export crude only to import fuel, how would dollar revenue reduce fuel price?

It improves the value of the naira , causing a 'reduction' so to speak.

sweetgala:
Fuel is more expensive in Angola and SA compared to Nigeria in fact some 30-50% more.

Lybia is the only country where it is less and it is heavily subsidized & rationed

That's not true. Fuel per litre in Angola is 300Kw which is equivalent to 275Naira
That of South Africa is 22Rands which is about $1.16 but their minimum wage is $405 while that of Nigeria is below $30

Trash. Calculate the cost of shipping the Crude oil and the cost of importing the refined product. When you produce locally, you eliminate the cost of importation and custom duties. The government will save money they use for exporting to the international buyers. This is a simplified info. There's something they are hiding from the public.

sweetgala:
It is impossible to pay less than 200N for PMS unless government introduce subsidy. Take that statement to the bank anyday anytime.

The spare parts that would are used in the refinery would also be imported in dollars I do hope you realize.

I'm currently paying €1.60/ltr for PMS

nairalanda1:
And their fuel has a high sulphur content which also means costs of refining rise....plus they got massive debt, and also low earnings, and losses from smuggling across the border.

How does that change the fact that their fuel is cheaper?
Is there any country that does not have its own issues?
UK is having cost of living and housing crisis
The US also has high sulphur oil, massive debt and smuggling across its southern border even of humans!!

How can marketers know prices more than refiners?

Kukutente23:
How does that change the fact that their fuel is cheaper?
Is there any country that does not have its own issues?
UK is having cost of living and housing crisis
The US also has high sulphur oil, massive debt and smuggling across its southern border even of humans!!

Ask your lord and master Tinubu.

Good morning. You don't want an answer, you just want to mock me. Sorry, I'm not playing with you anymore.

How will they steal?

sweetgala:
It is impossible to pay less than 200N for PMS unless government introduce subsidy. Take that statement to the bank anyday anytime.

The spare parts that would are used in the refinery would also be imported in dollars I do hope you realize.

I'm currently paying €1.60/ltr for PMS

Exactly.

nairalanda1:


Ask your lord and master Tinubu.

Good morning. You don't want an answer, you just want to mock me. Sorry, I'm not playing with you anymore.

Last i checked, it is you who supports govt to impoverish the populace not me.
Your answers are purely academic. I'm sure if you were to answer this, you'll come up with more excuses. I can even guess your answers already. US makes more money and produced more than Venezuela.
UK has more revenue and stable economy than Venezuela
I've heard it all from you.
What you'll fail to say in all your "analysis" is that there's presently an embargo on Venezuelan oil in the international market and a lot of their foreign reserves and gold is held up in foreign countries who refuse to release it to them.
If that were to happen and Venezuela becomes more economically stable, you'll revert back to their population and crude oil production.
That's how you keep going round and round fishing for excuses to prop up your failed theory.
So I'm not unaware of your routine.
I just wanted to amuse myself this morning.
The facts are already clear as day
You can choose to live in your alternate reality.
Good day.

Kukutente23:
Last i checked, it is you who supports govt to impoverish the populace not me.
Your answers are purely academic. I'm sure if you were to answer this, you'll come up with more excuses. I can even guess your answers already. US makes more money and produced more than Venezuela.
UK has more revenue and stable economy than Venezuela
I've heard it all from you.
What you'll fail to say in all your "analysis" is that there's presently an embargo on Venezuelan oil in the international market and a lot of their foreign reserves and gold is held up in foreign countries who refuse to release it to them.
If that were to happen and Venezuela becomes more economically stable, you'll revert back to their population and crude oil production.
That's how you keep going round and round fishing for excuses to prop up your failed theory.
So I'm not unaware of your routine.
I just wanted to amuse myself this morning.
The facts are already clear as day
You can choose to live in your alternate reality.
Good day.

So supporting the right to set your price as a businessman= supporting government



Face reality man. And grow up.

a lot of these politicians already fully own or partially own refineries outside the country.... so the strange inability to fix the refineries is obviously intentional..who will buy their fuel from abroad when our local refineries are working..the same way theyve heavily invested their stolen till into Dangote's refinery... its all a wicked game ..

I’m tired of hearing fuel up and down. President has forced 595 pump price on us and everyone is okay with it , no one wants to challenge it, with little or no palliative to cushion its effect. So sad. Let’s leave it that way!

cjudy:
IPMAN said so here you’re saying otherwise. Seems na you get this country and later you will tag someone IPOB. You can ban me if you like but I will tell you the truth

The IPMAN man is not saying the truth. Oil has its original price in international market. Are we going to be trading below that price after refining?

nairalanda1:
Libya also has
1.A population of about 8 million people(we have over 200 million people)
2.A crude oil production rate that is slightly above ours.
As a result they can afford to subsidies petrol massively AND pay for good refineries...without breaking a sweat. Basically they can eat their cake and have it.
Try Venezuela..fuel costs about N14 or less, and they have bad refineries

The Venezuelan example you brought in last, does that mean it's actually possible, barring corruption?

What if several modular refineries are set up, won't it cause a reduction in price?

I personally don't want to believe that story that if our refineries are functional, the price will come down by, say #50... I believe the cost of shipping crude abroad and shipping refined crude back to Nigeria will be eliminated... This alone should reduce the price considerably

Then, let's look at a situation where many modular refineries are set up in locations that have the crude, say Bayelsa and Rivers, that will make the price fall there, since they ain't spending much on pipelines to transport fuel... Hence, the closer you are as a marketer to the refineries, the cheaper your fuel... Na north go come suffer am o

I thought the crude oil is our local resource. It’s supposed to be cheap

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

Don’t mind the clown. Which country in the world sell petrol at the equivalent of N200 without subsidy?

Nonsense talk.

cjudy:
IPMAN said so here you’re saying otherwise. Seems na you get this country and later you will tag someone IPOB. You can ban me if you like but I will tell you the truth

IPMAN be like police , " Just follow us to the station and give statement only "

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

But why must it be supplied at international market price? What is the reason for that. Crude oil God gave to Nigeria.

Functional public refinaries.

They should stop all this Lamba.

The same way they have been extorting funds, will even escalate when refineries starts working.

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

/
Why would Nigeria supply crude oil to her refineries for local consumption at international market rate? International oil price applies to exports/imports only. High market price is only affecting Nigeria now because of export/import that is outside of Nigerian control.

/

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

How did you know that?

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

You people just write and talk without thinking twice. The government shouldn't subsidized crude oil. It should be the same rate.

Are you telling me that the production cost in a poor country like Nigeria that has a minimum wage of #30,000 will be the same as the production cost in Netherlands that has a minimum hourly wage of €11?

The production cost for poor country is yo rich countries is way above 1:30

You people just talk for talking sake

You are not wise instead of telling your father to quickly build his own refinery n take advantage of Dangote waste of time you are here lamenting like you n your fathers are brain dead.

Chetas81:
THIS PART OF THE WORLD IS WHERE THOSE ELERIBURUKU ONIRANU FRAUDULENT CITIZEN, WILL COMMISSION UNFINISHED PROJECT, MEANWHILE THE WORLD ARE LOOKING AT US THROUGH THEIR WINDOWS, HOW WE DO THINGS, AND WE THE BLACK AFRICAN'S DON'T ASHAMED OF OURSELVES

Mynd44:
This isn't true except the FG will introduce subsidy on crude oil to the refineries.

If the crude is supplied at market price, the difference due to importation will not be more than ₦‎50-70 naira.

The only advantage is the pressure on the Naira due to FOREX

My brother you know the way we do our journalism in this country. This was the view of IPMAN chairman Rivers branch but you will not know that until you read the article. See how they set the headline like IPMAN as an organization gave a press conference on the matter.

cjudy:
IPMAN said so here you’re saying otherwise. Seems na you get this country and later you will tag someone IPOB. You can ban me if you like but I will tell you the truth

IPMAN has said what you want to hear. But is it truth? That is the question.

Below is the international price of oil quoted in Naira. If a litre of crude oil is N416, how can the petrol extracted from it sell for less than N200.

https://oilpricez.com/ng/nigeria-oil-price

All petrol sold is based on the international price. That is how it works. Dangote has already stated that his petrol and so forth will be sold at international prices.

Can petrol be sold at N200 per litre without subsidy? Definitely, that is if the price of crude oil collapses to $10 per barrel.

Should be sold in nigeria at ₦75 then outsiders should buy high simple ...

leisuretym:
Of course, it will sell less than 150 because the price won’t have to do with dollar rate, Drill and refine, the activities will also create employment , but the selfish senseless people in government won’t do it

why doesn't the price of garri that we produce locally follow this your analogy?

aderilb:
Why is dangote refinery not working yet after commissioning

That refinery is nothing close to working, i live close to it and my neighbors work there. They have started maintenance and replacement of so many things when one single drop of fuel never show