NNPC To Become Sole Buyer As Dangote Refinery Begins Production - Politics (2)

NNPC To Become Sole Buyer As Dangote Refinery Begins Production - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › NNPC To Become Sole Buyer As Dangote Refinery Begins Production (31988 Views)

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Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by ACRI: 9:31pm On Sep 02, 2024

These guys and their schemes..

Until they push Nigeria into a bloody revolution..

4 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by jokaka89: 9:33pm On Sep 02, 2024

This analysis is wrong.
Why can't you for a moment be optimistic?

REDshouse:
This is a very bad move by NNPC ..why will NNPC buys from Dangote and not allow dangote a willing seller to sell fuel to willing buyer,

My deduction from this is that subsidy will still remain cos dangote will sell at 1000naira per litre to NNPC while NNPC sells to Nigeria at 568 naira per liter.. in the long run it wont be sustainable and thereby resulting in NNPC owing Dangote and creating another set of crisis ....

3 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Newsmills: 9:33pm On Sep 02, 2024

Owners of Nigeria have spoken and decided on what they will do and this is the end of discussion,a country full of mafias,economic terrorists and hijackers,jackals,and racoons.

1 Like

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by opes: 9:34pm On Sep 02, 2024

REDshouse:
This is a very bad move by NNPC ..why will NNPC buys from Dangote and not allow dangote a willing seller to sell fuel to willing buyer,

My deduction from this is that subsidy will still remain cos dangote will sell at 1000naira per litre to NNPC while NNPC sells to Nigeria at 568 naira per liter.. in the long run it wont be sustainable and thereby resulting in NNPC owing Dangote and creating another set of crisis ....

Likely to cover for the subsidy..

1 Like

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by ufotunang: 9:39pm On Sep 02, 2024

Why can't independent oil marketers buy from Dangote refinery.. nigerians don't trust this NNPC

4 Likes 1 Share

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by AerialMapper: 9:41pm On Sep 02, 2024

NNPC wants to be the sole buyer cos they need to continue this 'fake subsidy' and Dangote selling direct to marketers will expose the fraud!

The whole subsidy calculation is based on the faulty premise that we consume over 40m litres of PMS daily. This figure is multiplied by the shortfall between pump price and the landing cost and just like that... We get the subsidy figure!

When we are serious, we will do the right thing

3 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Johnson5258: 9:42pm On Sep 02, 2024

If your analysis is correct, Dangote is not supposed to sell to NNPC at all, let's wait for the outcome of things before berging into conclusion.

Another question is, why did the marketers initially proposed 600 naira to Dangote, even ahead of production?

REDshouse:
This is a very bad move by NNPC ..why will NNPC buys from Dangote and not allow dangote a willing seller to sell fuel to willing buyer,

My deduction from this is that subsidy will still remain cos dangote will sell at 1000naira per litre to NNPC while NNPC sells to Nigeria at 568 naira per liter.. in the long run it wont be sustainable and thereby resulting in NNPC owing Dangote and creating another set of crisis ....

4 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by RoxyBrownAutos: 9:43pm On Sep 02, 2024

It is trade by Berta. NNPC supplies crude to dangote refinery. Dangote returns refined products to NNPC. Who pays the difference is unknown.

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by chidiokay: 9:44pm On Sep 02, 2024

calios:
I thought they said the present administration has a plan against Dangote

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Aside "we will" futurist tense they keep telling us like alaba broken disc...have nnpc shown any support to dangote, even the agreement made did nnpc live up to it

the things nmprc said against dangote are they not still on public domains .

the earlier we know Tinubu/ nnpc don't mean well for Nigeria, we need to call out the govt more and protest more

2 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Realdeals(m): 9:48pm On Sep 02, 2024

That could be because Dangote is not getting the crude oil on willing seller basis. He's obviously getting those crude supply at a discount from Nigeria.

REDshouse:
This is a very bad move by NNPC ..why will NNPC buys from Dangote and not allow dangote a willing seller to sell fuel to willing buyer,

My deduction from this is that subsidy will still remain cos dangote will sell at 1000naira per litre to NNPC while NNPC sells to Nigeria at 568 naira per liter.. in the long run it wont be sustainable and thereby resulting in NNPC owing Dangote and creating another set of crisis ....

1 Like

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by onajo2000(m): 9:48pm On Sep 02, 2024

calios:
I thought they said the present administration has a plan against Dangote

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Agreement has been reached by both parties

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Antoeni(m): 9:50pm On Sep 02, 2024

NNPC is Owning
Yet No Nigerian Buys Fuel On Credit.. Where's The Money??

7 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Tareq1105: 9:52pm On Sep 02, 2024

REDshouse:
This is a very bad move by NNPC ..why will NNPC buys from Dangote and not allow dangote a willing seller to sell fuel to willing buyer,

It's to stop Independent Marketers from their Sharp practices of buying the products cheaper and taking it to Cameroon, Mali, Niger, Chad, Benin Republic and Togo to maximize profits.

I don't know if you have observed that Independent Marketers are building new petrol stations despite the present fuel crisis.

They're doing that in anticipation of Dangote fuel and PH Refinery working perfectly to allow for smuggling to neighbouring countries.

5 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Alliswell248: 9:56pm On Sep 02, 2024

Dpharisee:
Oando where Tinubu has the biggest stake has acquired NNPC retail in dubious deal, so they will be the sole buyers of Dangote petrol, they were initially sceptical that Dangote could affect their importation from Malta, but now they will be running the two both Dangote and Malta

Is Wale Tinubu, the same as Bola Tinubu?

Wailing wailers.

Bring evidence

1 Like 1 Share

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Alliswell248: 9:58pm On Sep 02, 2024

Johnson5258:
If your analysis is correct, Dangote is not supposed to sell to NNPC at all, let's wait for the outcome of things before berging into conclusion.

Another question is, why did the marketers initially proposed 600 naira to Dangote, even ahead of production?

Mr Man, your opinion stays with you.

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by condensedmilk: 9:58pm On Sep 02, 2024

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by jaxxy(m): 9:59pm On Sep 02, 2024

On what grounds or arrangement? After saying he should go and buy fuel elsewhere??

U can see these people are up to no good. They will buy from dangote and sell at ridiculous prices to Nigerians. undecided

If they are not sole buyers there will be competitions for NNPCL aka Oando with other marketers.

2 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by donmik: 10:00pm On Sep 02, 2024

calios:
I thought they said the present administration has a plan against Dangote

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Read into meanings, not just words.

"If no one buys locally, we will export"

Dangote is proposing selling to NNPC alone to ease our pain but the NNP/FG hasn't responded to this proposal yet

2 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by doyin01: 10:00pm On Sep 02, 2024

Dpharisee:
Oando where Tinubu has the biggest stake has acquired NNPC retail in dubious deal, so they will be the sole buyers of Dangote petrol, they were initially sceptical that Dangote could affect their importation from Malta, but now they will be running the two both Dangote and Malta

The same Malta linked to dangote's brother..politics have blinded some of you

1 Like

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by EXPRESSSMAN(m): 10:07pm On Sep 02, 2024

The NNPC has an interior motive. What happened to the product of other private refineries.
This arrangement doesn't make any sense.
We can now see clearly why they are trying to frustrate the refinery.
Whether for good or bad, we need a change from this NNPC monopoly. Let NNPC control the refineries that are under them. They can not destroy them and become the sole buyer in another local refinery with the years of stories

1 Like

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by TheBillyonaire: 10:13pm On Sep 02, 2024

Why is NNPC in the supply chain?

1 Like

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Afobaba33(m): 10:15pm On Sep 02, 2024

[color=#990000][/color]I never knew Tinubu is this wise

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by tuoyoojo(m): 10:16pm On Sep 02, 2024

They make to attempt to cover the fact that dey don't want to hide the corruption going on in NNPC

2 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Afobaba33(m): 10:16pm On Sep 02, 2024

TheBillyonaire:
Why is NNPC in the supply chain?

It's because of you and I

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by rasputinn(m): 10:17pm On Sep 02, 2024

Confused government coming up with trial and error policies.

God save us from the hands of this current Tinubu administration

2 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by ogaontop(m): 10:19pm On Sep 02, 2024

Dpharisee:
Oando where Tinubu has the biggest stake has acquired NNPC retail in dubious deal, so they will be the sole buyers of Dangote petrol, they were initially sceptical that Dangote could affect their importation from Malta, but now they will be running the two both Dangote and Malta

You're on 👉 point!!

2 Likes

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Eriokanmi: 10:27pm On Sep 02, 2024

Enemies of the masses. Anti people government grin

Re: NNPC To Become Sole Buyer As Dangote Refinery Begins Production by Konquest: 10:28pm On Sep 02, 2024*

dre11:
Devakumar Edwin, the Vice President of Dangote Industries Limited, has announced that the Nigerian National Petroleum Commission (NNPC) will become the sole buyer of products from Dangote Refinery as it begins production.

According to Edwin, the NNPC is prepared to purchase all refinery outputs to meet the nation’s local demand for petroleum products.

“We are currently testing the gasoline, and soon, it will start flowing into the tanks,” Edwin stated. He also noted, “If no one buys it locally, we will export it, just as we’ve been doing with our aviation jet fuel and diesel.”

This development comes amid ongoing financial challenges for the NNPC. Tribune Online previously reported that the NNPC Limited admitted to owing a substantial debt to international oil traders, which has resulted in a fuel supply shortage for local distributors.

Recent reports reveal that the NNPC owes these traders approximately $6 billion in unpaid subsidies, prompting them to halt petrol supplies to the national oil company.

Although the NNPC initially denied these claims, it later acknowledged that its outstanding debts to suppliers have been a major contributor to the ongoing fuel scarcity across the country.

With the NNPC now positioned as the sole buyer of products from Dangote Refinery, this arrangement offers some relief to the national oil company as it continues to navigate its international financial obligations.

https://tribuneonlineng.com/nnpc-to-become-sole-buyer-as-dangote-refinery-begins-production/

According to Devakumar Edwin, the NNPC is prepared to purchase all refinery outputs to meet the nation’s local demand for petroleum products.

“We are currently testing the gasoline, and soon, it will start flowing into the tanks,” Edwin stated. He also noted, “If no one buys it locally, we will export it, just as we’ve been doing with our aviation jet fuel and diesel.”

The bolded above is impressive. Devakumar Edwin CLEARLY stated that if NO one buys the gasoline locally, Dangote would EXPORT it just as they've been doing with AGO (or aviation fuel). Nigeria through the CBN and Dangote Petrochemical Refinery can then earn FX returns from any excess or unsold stock of gasoline. This is how things were done back in the early 1980s when Nigerian Petrochemical refineries exported refined fuel products to earn FX as well until the military goverments and their cronies from the late 1980s destroyed the refineries through the lack of Turn-Around-Maintenance (TAM) which is supposed to be carried out every two years otherwise the refineries would encounter production problems.

So, it's a fantastic scenario here that would gradually stabilize the Nigerian gasoline distribution space. Then focus can be given to the diffusion of CNG fuel stations and vehicle CNG conversions for commercial vehicles and trucks so that folks in Nigeria can get CNG from refill stations at a much cheaper rate that even gasoline.

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