₦airaland Forum

ubox:
And he said it very confidently

malton:
You'd be lucky to see dollar at #900 even two years from now.

Ikaeniyan0:
Tinubu is not the president from 1999.

Tinubu is a no nonsense president. I'm sure you have seen how he has being handling his appointees.

Eriokanmi:
His production can't meet daily local consumption. He once said his petrol will also be for export. With this, there will still be fx demand by other players. We consume 66m liters daily

Ikaeniyan0:
Well, let's wait till October 1

Alusiizizi:
Very well then. I will make a note of this conversation and respond to you again after that day.

Eriokanmi:
Olodo. What's Nigeria's local consumption? When you deduct dangote's daily output from it, where is the rest going to come from, moon? The audio local refineries aren't even operational yet.

Lithiumite:
Not true ....it has always been touted and one of the major selling point for the refinery is that it can take care of the entire local production.

Lithiumite:
Exactly what he was saying!! No need to import fuel anymore which you would have hitherto needed Forex for

Eriokanmi:
Dangote refinery cannot guarantee that. Because its not the source of the FG's foreign earners. I totally disagree. The birth of the refinery is a way forward but can't also guarantee production for local consumption 100% so, fx demand will continue, including in other sectors like manufacturing.

I'd have reasoned with Dangote, had he said, the policy will slash fx demand by his own refinery by 40% because his refinery won't need to order crude from the Americas anymore,which he'd have paid for in dollars by raking up all the dollars available in our banks and ctreate scarcity of same.

Eriokanmi:
Dangote refinery cannot guarantee that. Because its not the source of the FG's foreign earners. I totally disagree. The birth of the refinery is a way forward but can't also guarantee production for local consumption 100% so, fx demand will continue, including in other sectors like manufacturing.

I'd have reasoned with Dangote, had he said, the policy will slash fx demand by his own refinery by 40% because his refinery won't need to order crude from the Americas anymore,which he'd have paid for in dollars by raking up all the dollars available in our banks and ctreate scarcity of same.

sleek214:
Bla bla bla. You don dey praise Tinubu because dem don give you wetin you want. Dem don also increase fuel pump price because of you....

peleson1:
Forex demand on petroleum products alone is over 55%
Dangote knew exactly what he was saying.
He didn't get to this height my mere assumptions


QED

seborrhic:
I doubt.
If anyone has been following the history of this government closely and it's policies viz-a-viz expected outcome,you would know that the economics does not follow expected and usual,standard outcomes in other parts of the world.

OkCornel:
As long as the government does not bungle the crude supplies, then yes.

If not…Dangote refinery will have to source dollars to import crude. And you know what that means for the naira.

I love this, everyone’s eyes will be on NNPC now.

mapet:
....and you got this statement from your imagination or beer parlour discussion? ....the Govt that did not "bungle" the same crude which it had been exporting for years to refine abroad?

He recalled that the philosophy initially was to add value to the raw materials available in the country, regretting that Nigeria is still exporting crude and importing refined petroleum products after over three decades.

“The philosophy is to take the crude, and instead of exporting the crude, refine it, add value; export the finished products, and supply the finished products locally. But unfortunately for us, we started facing challenges with the crude supply.

“What is happening today? We are struggling to get the crude. We are now importing the crude from the US, we are importing from Brazil, and from other parts of the world. So, the whole philosophy has gone upside down. After all these decades, we are exporting crude, importing products,” he added.

He stated further, “The same thing is continuing. We are not getting enough crude allocation, and the crude is still being exported. We are forced to import crude from outside. Yes, we are getting some crude locally, but it’s not adequate.”

CyrusVI:
He's talking from the angle of reduction of pressure on the FX demands, no turn am to fight




40% is a whole lot...t means by Nov 2024, we would have been relieved of all this pains

I like Visionary leaders
God bless PBAT and Dangote

Eriokanmi:
Dangote refinery cannot guarantee that. Because its not the source of the FG's foreign earners. I totally disagree. The birth of the refinery is a way forward but can't also guarantee production for local consumption 100% so, fx demand will continue, including in other sectors like manufacturing.

I'd have reasoned with Dangote, had he said, the policy will slash fx demand by his own refinery by 40% because his refinery won't need to order crude from the Americas anymore, which he'd have paid for in dollars by raking up all the dollars available in our banks and ctreate scarcity of same.

Ikaeniyan0:
Wetin b the nonsense you dey write sef?

A strong naira will lead to the reduction in the price of fuel.

OkCornel:
Yes, I got this statement from your father at the beer parlour discussion.

Read what the Vice President of Oil and Gas at Dangote Industries Limited, Devakumar Edwin said earlier today.



https://www.nairaland.com/8203165/petrol-exported-marketers-boycott-product

Read! You won’t die.

mapet:
Problem is that Social Media democratized idiocy, so the likes of you struggling with comprehension have a say....
Pray tell, how does one begin to engage a you that obviously have no clue at all about workings of the Oil and Gas industry? You lifted an out of context statement of Edwin to justify your jaundiced submission? Haba! borrow yourself some sense na! Why will Dangote Refinery not struggle to get crude when they did not sign any tangible commitment contract to feed the refinery till he finished the project? Your dumb self thinks Crude Oil just appears at Refinery doorsteps? Don't you know each single barrel of crude must have a title?

NL should have a filtering system... barring some low level IQ like yours, worsening quality of debates on this platform

OkCornel:
This brain dead gorilla.

You are telling us with NNPC there is no risk of disruption in crude oil supplies? An organisation that is notorious for inefficiency and unbridled corruption/incompetence?

An organisation that consumed over $40 billion between 1999 till date on maintenance of refineries without any results to show for it?

Truly you are a gullible idiot.

mapet:
When you tell me what you know about Oil and Gas beyond this shallow display attempt at intelligence, I will believe I am conversing with a human being.
I ask again... the crude that had been exported in the past that earned us revenue that has driven the economy came from where? Your emptiness shows with every single of line sentence you post...

OkCornel:
Guy, quit being stupid.

Only a fool places utmost faith in an organisation that cannot even consistently meet its cash call obligations with its joint venture partners.

Only an irredeemable fool places utmost faith in an organisation that just recently declared a state of emergency on crude oil production.

https://nnpcgroup.com/insights/nnpc-ltd-declares-state-of-emergency-on-crude-oil-production-calls-for-collaboration-to-reduce-production-cost

The only things NNPC is good at are ineffiencies and corruption. Get that into your thick skull.

If you have the slightest clue of how the oil industry works, please tell us who is the culprit behind the ongoing fuel scarcity. If that doesn’t help your thought process, then calling you a fool is an insult to fools.

Shift.

mapet:
Keep shopping for disjointed cut and paste new to justify a no-point you're making...

If I have the slightest clue on how the Oil and Gas industry works? Child how old are you? Check my profile on Nairaland; my Oil and Gas experience is more than your age.

OkCornel:
Guy get the f*ck off my mentions if you can't answer

1. Why there is fuel scarcity right now in Nigeria and the organisation responsible for it.
2. How there is absolutely no risk of crude supply disruptions to Dangote refinery with a grossly incompetent corrupt NNPC.

If you can't answer these straightforward questions, then shove up your years of experience up your arse.

Old people are not immune from pride and folly, so just don't come playing the age card here.

mapet:
Keep regurgitating same ole nonsense that makes no sense. You're just dancing around and you're dumb and empty. Has Nigeria exported Crude on a consistent basis? Do you even know that there are penalties for failure to supply committed crude? Tell me which commitment has Nigeria failed to meet to any international trader? Do you even know how NNPC claims its portion of Crude?

This dolt just pick disjointed bits and pieces from beer parlour and social media, and wants to talk about Oil and Gas that you have no clue about...

OkCornel:
Dumbo, has Nigeria met its OPEC quota on a consistent basis?
Has NNPC been historically competent enough to even consistently meet its cash call obligation to its Joint Venture partners?

I'm waiting for you. It's really shameful seeing an old man double down on his folly. Hilarious and pitiable at the same time.

mapet:
Oh! it is now OPEC quota that is now your arguement? You don't even know the difference between OPEC quota and Commitment to Contracts?
You don't know about Cash call Obligations interplay, if you do, you will not be asking pedestrian question? Move a little away from that Beer Parlor where you are and ask someone sensible to explain how IOCs have navigated the Cash call issue, did it stop production?