Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa - Politics (2)

Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa (18700 Views)

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Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by humb57: 10:11am On Sep 05, 2024

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by trutharena: 10:11am On Sep 05, 2024

Alhaji Dangote, wey don already make billions, wey no go fit buy fuel for his generator, wey he don go beg FEC for price control, wey he don go beg for price control

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by thesicilian: 10:13am On Sep 05, 2024

bassdow:
BUT Dangote no be seller na. Na manufacturer him be. Make una free the man abeg

And after "manufacturing" the "free" crude oil he gets from nnpc he gives back the refined products to nnpc for "free", right?

3 Likes

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by SmartyPants(m): 10:16am On Sep 05, 2024

Kanixt:
No one is putting Dangote in a place he shouldn't be.

I think he's the one putting himself in a place he shouldn't be.

Is there any time Dangote has said he will determine the price of petrol in the country?

1 Like

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by thesicilian: 10:16am On Sep 05, 2024

Truth234:
They are forcing him in-line based on the crude oil. If he acts otherwise, he will face challenges with crude oil again.

You mean the corrupt and corruptible nigerian politicians are forcing in line an astute business man like Dangote? The same way Tinubu was forced in line not to use his accumulated cash deposits during the elections?

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Fatbam003: 10:17am On Sep 05, 2024

The devil is the god of this world and the Sole aims are to kill ,steal and destroy.

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Standing5(m): 10:23am On Sep 05, 2024

Exactly.

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Standing5(m): 10:26am On Sep 05, 2024

thesicilian:
And after "manufacturing" the "free" crude oil he gets from nnpc he gives back the refined products to nnpc for "free", right?

selling crude oil in Naira is not free. If you have proofs come forward with it. In fact the oil industry mafia offered crude to him at 2 to4 usd above intl price. That's not free either he buys in naira or dollar(forex).

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Taich(m): 10:28am On Sep 05, 2024

INTEGRITYA1:
These people want to keep maintaining the high level of secrecy through which they will keep feeding fat on National wealth.

The subsidy through which they have been making shady incomes is gradually fading away and they are diversifying towards the local market.

.

We as citizens are friends of the lion, now that there is no meat (foreign subsidy) the friends of the lion becomes meat.

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Codes151(m): 10:32am On Sep 05, 2024

Wicked people plenty for this country

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by faithfull18(f): 10:32am On Sep 05, 2024

Other people should be allowed to build as well. Excess supply will bring down price, basic economics.

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Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by lexy2014: 10:32am On Sep 05, 2024

Truth234:
They are forcing him in-line based on the crude oil. If he acts otherwise, he will face challenges with crude oil again.

Exactly

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Focusmind: 10:37am On Sep 05, 2024

I agreed with you, Mr. Idahosa

Dangote is stylishly putting himself into a position of sole price determinant (quasi monopoly) . Ignore Dangote at your own peril. He has been talking lately.

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by onatisi(m): 10:38am On Sep 05, 2024

KEVIND:
who said Dangote doesn't have business on pricing of petrol? For instance if Dangote sells for 300 per litre to marketers, will they turn around and sell for #895. definitely NO.

You didn't read the article ,what the man said is that Dangote cannot determine nor dictate the price PM's should be sold at the filling stations or retail stations . Dangote is a factory or refinery, it produces and sells to the distributor ,once Dangote collects his own money from NNPC or any other distributor , they are the ones who will dictate to the retailers . The same way coca cola or iPhone has a fixed factory price but different outlets have their own price too. Coca cola cannot dictate to the hawker on the street how much she should sell her coa cola.
And if report coming out is to be believed , Dangote has accepted NNPC as its sole distributor that is why Dangote said the price of PM's will be deliberated at the NEC . Which means it is the fg that will determine the price at the filling stations

1 Like

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by wiseworld: 10:39am On Sep 05, 2024

You nail it on the head, don't mind that man story for the god.

KEVIND:
who said Dangote doesn't have business on pricing of petrol? For instance if Dangote sells for 300 per litre to marketers, will they turn around and sell for #895. definitely NO.

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by emmanbol: 10:41am On Sep 05, 2024

CyrusVI:
U end up confusing yourself. Removr the corn in ur pocket.

When was the last time tinubu govt did anything in favor Nigerians?

This already cancelled out what this guy is saying

Dangote never for once claim he had a say in this, plus whys this man attacking Dangote this way, is he pained?

I knw Kyari can be dubious but I would wanna assume that FEC being the fuel decider is all in a bid to ensure the diff in cost and selling price is profitable enough to Dangote and light enough to the consumers.

He should think

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by uchbiz: 10:42am On Sep 05, 2024

Is he not the owner again? Or he has been bullied to be silent and make his money while NNPC roast Nigerians.

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by jamesharryson(m): 10:43am On Sep 05, 2024

ogododo:
https://dailypost.ng/2024/09/05/dangote-refinery-doesnt-have-business-in-petrol-price-lcci-president-idahosa/

I want to be buying from factory direct.
The only reason I was buying from filling stations was because of the importation. But since we now have a refinery here, and you said it is a factory, allow me to buy directly from the factory, the same wholesale price that Dangote sells to NNPC. I want to deal directly, no middle man

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by DeLaRue: 10:44am On Sep 05, 2024*

Part of the problem is that virtually every one in Nigeria wants to have a say on how much Mr Dangote must sell his fuel.

Yet, we don't dictate to Nestle or the manufacturers of Indomie how much they must sell their products. Did we dash money to Mr Dangote to build his refinery?

From a commercial perspective, petrol is just a product. The manufacturer, Dangote refinery, cannot sell below the price it cost to produce it.

Dangote Refinery is not a Charity. Infact, it needs to pay back billions of dollars in loans, or foreign creditors will seize the refinery and close it down.

The government has said NNPC will be the primary wholesaler. I think this is potentially a good decision because it will give the government the ability to moderate exploitative pricing by greedy, unscrupulous middlemen, like we are currently having.

The milions of people who are so worked up about what the price should be are not experts in fuel pricing nor do they have all the necessary information.

People should calm down and allow Dangote refineries and the government to negotiate and announce price.

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Bmaster(m): 10:46am On Sep 05, 2024

this matter go long we'll well.e fit long pass tinubu's tenure sef

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Freebills12: 10:47am On Sep 05, 2024

[color=#000099][/color]

KEVIND:
who said Dangote doesn't have business on pricing of petrol? For instance if Dangote sells for 300 per litre to marketers, will they turn around and sell for #895. definitely NO.

Yes the marketers will sell it at the rate of #895. This is because the NNPCL is the only 'marketers' that has the right to import fuel and buy from Dangote. They also set the price for a liter. Nigerians have been clamouring for govt to give individuals the right to import fuel in order to create competition but NNPCL has stamped on it not seeing the light of the day.

1 Like

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by NOETHNICITY(m): 10:52am On Sep 05, 2024

CyrusVI:
This already cancelled out what this guy is saying

Dangote never for once claim he had a say in this, plus whys this man attacking Dangote this way, is he pained?

I knw Kyari can be dubious but I would wanna assume that FEC being the fuel decider is all in a bid to ensure the diff in cost and selling price is profitable enough to Dangote and light enough to the consumers.

He should think

Where did the man attack Dangote?
Are you sure you read the same article?

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Tombrown3(m): 10:52am On Sep 05, 2024

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Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by chidiokay: 10:54am On Sep 05, 2024

INTEGRITYA1:
These people want to keep maintaining the high level of secrecy through which they will keep feeding fat on National wealth.

The subsidy through which they have been making shady incomes is gradually fading away and they are diversifying towards the local market.

You just hit the nail on the head, the whole sheningans and absurdity going on centers around NNPC and govt are desperate to cover there tracks, they dont want any form of transparency around the oil sector

Should dangote announce his own retail price they know it will be easy for Nigerians to compute what the pump price should be ...

should dangote supply private marketers directly, in no time Nigerians wil have a true estimate of our daily consumption

should dangote be left to run independently, the incompetence and corrruption rocking NNpc will be fully exposed, Nigeria will see NNPC is a corruption enterprise set up to keep Nigeria under develop , everything they do is deliberate

The formal subsidy regime does not cover Tinubu percentage, Tinubu took out subsidy regime to re-write an abnormalcy that will caption him and his friends percentage,

They have cornered dangote, nd dangote must do what every business man wil do

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by nwirinedu(m): 11:04am On Sep 05, 2024

What he conveniently left out is that not just anyone can goto dangote refinery to buy PMS. Dangote sells exclusively to NNPCL.

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by Boyooosa(m): 11:05am On Sep 05, 2024

True but they should stop doing as if he doesn't have any influence in the retail price...

How these people dey take Nigerians for granted like this, no be the price wey he give dem dem go top up?

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by EngineerOloye: 11:05am On Sep 05, 2024

KEVIND:
who said Dangote doesn't have business on pricing of petrol? For instance if Dangote sells for 300 per litre to marketers, will they turn around and sell for #895. definitely NO.

I believe you mean "should they", because this people will if it's not an open market.

I understand that energy security is a subject of national security, but the problem comes when it is shrouded by officials who don't have the best interest of the Nigerian people at heart!

Re: Dangote Doesn’t Have Business With Petrol Price – LCCI President, Idahosa by chidiokay: 11:07am On Sep 05, 2024

Freebills12:
[color=#000099][/color]

Yes the marketers will sell it at the rate of #895. This is because the NNPCL is the only 'marketers' that has the right to import fuel and buy from Dangote. They also set the price for a liter. Nigerians have been clamouring for govt to give individuals the right to import fuel in order to create competition but NNPCL has stamped on it not seeing the light of the day.

if the answer is Yes as you posit, NNPc wont gag dangote in the 1st place, all the sheningans wont have being necessary

NNPC knows that the moment Dangote announce his price, they are under a big restriction to compute pump price
when people know the cost price, the profit margin already has a bandwidth .. thats one secrecy that as become a tool to shortchanged Nigerians