₦airaland Forum

This man (dangote) is a very useless Man,he wants to sell petrol for 1200 at least but he is just looking for ways to shift the burden on tinubu (the fool in aso rock) because that gorilla (TINUBU) knows nothing..

Akinpresident:
He's buying petroleum in Naira here in Nigeria using workers paid old minimum wage. So which other cost of production would make him not sell less than 300 or max?

And how did you arrive at the N300? Have you ever done any business or produce anything before? How much should Nigeria sell crude to Dangote in Naira / Dollar equivalency?
Talk is cheap.

This is the reason oil majors didn't invest in refineries in Nigeria: government interference. It's also another reason certain sectors should be avoided by foreign investors and even Nigerian investors who toiled for their capital.

Dangote and the federal government colluded, let no one be deceived. Subsidy exists and Dangote is a monopolist.

Ojuntana:
Stop wailing. Subsidy removal is a failed policy

Saudi Aramco subsidises fuel massively for Saudis and their refineries are not ruined.

Prophet of doom

Nigeria is way over populated than Saudi Arabia. Subsidies don't work in populous countries. Also, Saudi Arabia is fiscally wealthier and stable than Nigeria. As it's, subsidy is still being paid, yet petrol is scarce and prices have been increased.

What difference at the end of the day?

deji17:
And how did you arrive at the N300? Have you ever done any business or produce anything before? How much should Nigeria sell crude to Dangote in Naira / Dollar equivalency?
Talk is cheap.

My point is, there's no logical reason to sell the fuel expensive given that it's locally made.
There won't be any importation costs, landing costs, subsidy costs and whatever costs they factor in that makes fuel to sell at the current pump price.
Given that it's produced locally, there's every reason why it should be damn cheap.

Understanding politics of the highest level is a serious mind game... extremely difficult.... everyone is after their own pocket

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Gerrard59:
Nigeria is way over populated than Saudi Arabia. Subsidies don't work in populous countries. Also, Saudi Arabia is fiscally wealthier and stable than Nigeria. As it's, subsidy is still being paid, yet petrol is scarce and prices have been increased.

What difference at the end of the day?

Lol. Subsidies don't work in populous corrupt countries you mean
US and China have subsidies.
Nigeria is fiscally messed up by the leaders not any stroke of fate.
Every evil that has befallen this country is courtesy of its leaders.
Even when you remove subsidies, the country is the worst for it

Gerrard59:
This is the reason oil majors didn't invest in refineries in Nigeria: government interference. It's also another reason certain sectors should be avoided by foreign investors and even Nigerian investors who toiled for their capital.

Dangote and the federal government colluded, let no one be deceived. Subsidy exists and Dangote is a monopolist.

Even in China and the US, govt interfers in fuel price
Oil majors refused to invest in refineries due to the corruption in the sector. OBJ himself said so

Godfullsam:
He already knows how much his fuel will be sold.

Baba is only playing mind game with Nigerians.

He doesn't want Nigerians to put the blame on him when they see an unexpectedly high price of fuel.

Who increased the price of cement and other Dangote products?

Is it FEC?

And dat is wat he is playing out now so dat d masses will just accept dat foolish reasons...so afterall he is a business man he is after profit from his business!!!

Ojuntana:
Lol. Subsidies don't work in populous corrupt countries you mean
US and China have subsidies. Nigeria is fiscally messed up by the leaders not any stroke of fate. Every evil that has befallen this country is courtesy of its leaders.
Even when you remove subsidies, the country is the worst for it

China and the US are way wealthier than Nigeria. So they can afford to pay subsidies. I forgot to mention that aspect. Nigeria is too poor and unproductive to engage in subsidies. Also, Nigerian leaders aren't imported into the country, but come from the same population. So please don't lay the blame on only the leaders. Corruption is everywhere but the US government doesn't own or operate refineries. Petrol prices aren't fixed in China or the US. Chinese state owned enterprises are better managed than their Nigerian counterparts. So we cannot compare ourselves to the Chinese in that aspect.

He's part of the oligarchs & they're stakeholders in the refinery. Some of una head nor correct, so una think na only Dangote get dat refinery abi

nairalanda1:
Dangote has just sacrified his refinery.

I guess we can expect the refinery to be ruined...like all the others.

APC----the party that thinks that selling at a loss means helping the poor.

(Anyway, what did we expect.? Nigerian politicans will sacrifice the economy to molech for a few extra months in power).

Gerrard59:
China and the US are way wealthier than Nigeria. So they can afford to pay subsidies. I forgot to mention that aspect. Nigeria is too poor and unproductive to engage in subsidies. Also, Nigerian leaders aren't imported into the country, but come from the same population. So please don't lay the blame on only the leaders. Corruption is everywhere but the US government doesn't own or operate refineries. Petrol prices aren't fixed in China or the US. Chinese state owned enterprises are better managed than their Nigerian counterparts. So we cannot compare ourselves to the Chinese in that aspect.

There was a time Nigeria was wealthier than China
Subsidy removal will not solve all these problems
The Saudi govt own and operate refineries and so does the Chinese govt.
Nigeria is poor and unproductive because of its leaders. The leaders are supposed to be better than the followers. They have gone to the US and China and saw how corrupt people are jailed and shot. But instead of replicating that here, they turn this place to a safe haven for looting and still transfer those loots to China and US. Nigerian leaders are curse on the country.
China has a price cap for fuel at which it directly intervenes in prices. It's part of the state energy policy.
If US and China can subsidies their energy sector to keep cost of production and living low, I don't see why Nigeria, a major oil producer cannot. All I see are excuses and exceptionism

nairalanda1:
Dangote has just sacrified his refinery.

I guess we can expect the refinery to be ruined...like all the others.

APC----the party that thinks that selling at a loss means helping the poor.

(Anyway, what did we expect.? Nigerian politicans will sacrifice the economy to molech for a few extra months in power).

Your submission id the opposite of the situation! They don't believe in selling at a loss, they only believe in molesting the poor with high unsubsidized prices. Government ordinarily should subsidize fuel price so that while it appears like marketers sold at a loss, the government will pay them the balance in subsidy

Houseontherock1:
Your submission id the opposite of the situation! They don't believe in selling at a loss, they only believe in molesting the poor with high unsubsidized prices. Government ordinarily should subsidize fuel price so that while it appears like marketers sold at a loss, the government will pay them the balance in subsidy

Actually, selling at subsidised prices is selling at a loss.

Also, a big problem with your belief that businessmen molest the poor by unsubsidised prices is that by taking it to its logical conclusion, you could, if you were in government force the barber on the street or the hairdresser in the salon to charge a flat price of N20 for their services, meaning that they won't be able to pay for things like taxes , provide for rent for their shops, pay for transport, pay for materials, pay their workers under them and so on

A refinery is an expensive undertaking. It has to be maintained , taxes have to be paid, workers have to be paid at rates that keep them from jakpa, and so forth. That is why it is important it is allowed to run at a profit.

ANd most of that profit is going to go to 'ordinary people' like you and me, in the scheme of things...workers, etc...even the tax paid goes to things like civil service salaries....

xeju:
He's part of the oligarchs & they're stakeholders in the refinery. Some of una head nor correct, so una think na only Dangote get dat refinery abi

Not every businessman is out to get you. Sadly things have to be sold at a profit, because most of the people involved in making things are not going to do it for free so that you can have cheap fuel...and most of them are ordinary nigerians trying to make a living like you do.