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FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg - Business (3) - Nairaland

Nairaland ForumNairaland GeneralBusinessFG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg (21953 Views)

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Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by nams77: 12:47pm On Sep 05, 2024
Orubebe01:
I doubt if they will allow him do so
This country will rather burn than to allow dangote fix price. Even if I see on paper that they allowed him, behind the scene, they have already forced his hands
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Heffalump(m): 12:49pm On Sep 05, 2024
All the parties involved are playing games.

Dangote will always set the base prices for the Petroleum products from his Refinery. He can't produce at a loss, for sure.

What he's trying to say is that the FGN will set the final price, considering logistics and haulage charges. Dangote is being smart to let you know from the onset that the end user price will not be determined by him, to clear his name of any monopolistic accusations. Meanwhile, he has gotten his break-point price prior to the product distribution.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by abatically(m): 12:49pm On Sep 05, 2024
Lanruze:
If anybody can forward this message to PBAT, His Minister of State for Petroleum, His Security Adviser, His Kitchen Cabinet, His Son- Seyi and his Wife Oluremi Tinubu.

If PBAT allows Dangote who is a capitalist, shrewd and profit-driven business owner determine the price of fuel and it hovers above N1000 per liter there would be the mother & father of all anarchy in Nigeria.

President Bola Ahmed Tinubu should read the silence in the room. The president feels his ego would be bruised since he said openly that " subsidy is gone". The President doesn't want to be seen cowardly and eating his words on subsidy removal.

An average Nigerian middle class
is gasping for Oxygen and he wants to take the Oxygen mask over their face.

His handlers better advise him.
Lol, this is exactly what FG wants and u are falling for their trap. They want dangote to take the fall. Do u think it's a coincidence that nnpc decided to increase the price the same day dangote announced that they have started petrol production. Do u think it's a coincidence that nnpc admitted they owed over $5 billion around the same time and can no longer sell at 568 naira?

In the end, dangote refinery will probably gets shut down. FG will go back to importing from Malta (which they own) and secretly start paying subsidy again. Since they have been paying subsidy before, why can't they continue to pay on dangote fuel? Oh yeah, I know why. It won't benefit them.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by atiku4President(m): 12:51pm On Sep 05, 2024
Anijay1212:
This cho cho cho is getting on my nerves.
Why are things in Nigeria always the more you look, the less you see.
Today FEC will determine the price, tomorrow NNPCL "whatever that means" will set the price,then the next thing you hear is Dangote will fix the price.
My Goodness!!!
Funny enough they know what they want to do because i can swear to the fact that all the parties mentioned above are in constant communication amongst themselves. Or how do we explained the recent hike in petrol price, everyone is denying it but the price still stands.
But fellow Nigerians i believe that one day "monkey go go market but e no go return back"
angry angry angry
Hahahaha
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by atiku4President(m): 12:51pm On Sep 05, 2024
Cho cho cho government
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by 9jatriot(m): 1:02pm On Sep 05, 2024
Compare their crude oil with their population and their landmass and see if the ratio is any different.

Saao:
not lies, they have oil but equivalent to what is in Ondo and Imo state. We're talking about the volume. If Niger refined what's in Nigeria, it can't even take care of the state capital but Nigeria oil can take care of whole Africa
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by jaxxy(m): 1:03pm On Sep 05, 2024
Anijay1212:
This cho cho cho is getting on my nerves.
Why are things in Nigeria always the more you look, the less you see.
Today FEC will determine the price, tomorrow NNPCL "whatever that means" will set the price,then the next thing you hear is Dangote will fix the price.
My Goodness!!!
Funny enough they know what they want to do because i can swear to the fact that all the parties mentioned above are in constant communication amongst themselves. Or how do we explained the recent hike in petrol price, everyone is denying it but the price still stands.
But fellow Nigerians i believe that one day "monkey go go market but e no go return back"
angry angry angry
It's called damage control. They are looking for how to decieve and steal from Nigerians but they don't know how to do it cos of the backlash..

If they were honest a basic simple explanation would show us the maths used to arrive at the price or what is reasonable for dangote to put his prices at. Oil or refinery business didn't stat today so what's with the drama?

The hawks in NNPC and cabals don't want to be sidelined after giving in to Dangotes demands they want him to dance to their tune.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Sunmolar(m): 1:03pm On Sep 05, 2024
xristos:
Good for now

What a mortgaged country..
Seems there's a spell on the populace to keep quiet...because this country shoulda be on 'fire' by now

This kind statement makes politicians to fidget
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Dejoe88: 1:10pm On Sep 05, 2024
9jatriot:
My question has always been, how are poorer nations like Niger, Benin, Chad, Togo etc able to pay more than that? And if they are able to pay it, why can't we?
You are really insensitive. First compare the percentage of poverty rate, and compare the fact Nigeria is an oil producing country, and you are here supporting virtually same fuel price rate
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Timmi: 1:14pm On Sep 05, 2024
xristos:
Good for now

What a mortgaged country..
Seems there's a spell on the populace to keep quiet...because this country shoulda be on 'fire' by now
Why don’t you, your entire family and village people lead the charge to set the country on fire starting from your family, to your village,…. All the naysayers of this country will soon be put to shame. They might see the prosperity of the country but might not partake of it since they don’t see nor pray for anything good in Nigeria
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by OmoOshodi(m): 1:22pm On Sep 05, 2024
Dangore baba....richest black man on earth

We await your abracadabra:
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by MajorOvakporaye(f): 1:23pm On Sep 05, 2024
NgeneUkwenu:
Time is ripe for the Federal Government to hands off this subsidy once and for all. The biggest opportunity is now.
Keep shut!!! You ignorant fellow!!!
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by popesco123: 1:50pm On Sep 05, 2024
Exactly, too much noise on this.

quote author=Anijay1212 post=131865666] This cho cho cho is getting on my nerves.
Why are things in Nigeria always the more you look, the less you see.
Today FEC will determine the price, tomorrow NNPCL "whatever that means" will set the price,then the next thing you hear is Dangote will fix the price.
My Goodness!!!
Funny enough they know what they want to do because i can swear to the fact that all the parties mentioned above are in constant communication amongst themselves. Or how do we explained the recent hike in petrol price, everyone is denying it but the price still stands.
But fellow Nigerians i believe that one day "monkey go go market but e no go return back"
angry angry angry[/quote]
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by OfficialP: 1:51pm On Sep 05, 2024
Dangote should be allowed to fix his own price, why should a private business wait for FG to determine price, something not just right
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Minjim: 2:00pm On Sep 05, 2024
Why all these delay?!

Something as important as these and the FG is dragging its foot on it. Do these people know anything about governance at all?

Everyone from anywhere will always assume when we don't get the fact from the responsible quarters
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Minjim: 2:02pm On Sep 05, 2024
OfficialP:
Dangote should be allowed to fix his own price, why should a private business wait for FG to determine price, something not just right
My own is that. Why all these delays and dragging of feet?
I'm sure they're drawing up an outrageous pump price that will further improvish Nigerians. Knowing our politicians, they only think about their own pockets
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Mirafrancy: 2:04pm On Sep 05, 2024
The fact that everyone in this country is just living and minding their business should let your know that everyone has given up... The leaders don't care and the citizens do not care as well. God just save us honestly... How long are we going to continue like this...
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by nwirinedu(m): 2:17pm On Sep 05, 2024
This is contrary to what Dangote said in his launch speech.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Tellmeastory: 2:26pm On Sep 05, 2024
Saao:
you're comparing people without oil to Nigeria the largest oil producer in Africa. Must you people support anything? I'm so sure you don't have responsibility yet
Stop deceiving yourself with this ‘largest oil producer in Africa’ stuff.

Nigeria produces at most 2 million barrels a day

And Nigeria’s population is 250 million.

Saudi has 4 times Nigeria’s oil reserves and produces 9 million barrels a day, with a 30 million population.

Saudi can even afford to give free fuel to its population.

Nigeria is in a very different position.

By the way, the US produces 11 million barrels of oil a day, yet people there still moan about petrol prices.

So this idea that petrol should be cheap because we produce this relatively small amount of oil, is not a defensible position in the current climate.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by ofwest47(m): 2:26pm On Sep 05, 2024
The earlier the better
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Realdeals(m): 3:24pm On Sep 05, 2024
Dangote will resist it.
It is a ploy to set him against Nigerians, the price cannot be less than 1000 from the refinery.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by grandstar(m): 3:35pm On Sep 05, 2024
If FG is ready to deregulate the price, then Dangote should increase its security from potential sabotage from an angry mob ready to hold him responsible.

It seems Tinubu has realised he has no other option but to free the price. The only other option is to borrow the sustain the subsidy with its devastating effect on the Naira and the economy.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by ivandrag0n: 4:27pm On Sep 05, 2024
xristos:
Good for now

What a mortgaged country..
Seems there's a spell on the populace to keep quiet...because this country shoulda be on 'fire' by now
😂😂😂…we know you. You are one of those who are still saddened by your man’s loss in the last elections and would gladly see Nigeria burn so that you can have some morbid happiness.

Look, Nigeria will not burn. Instead, it is you all that wish evil on Nigeria that will experience the burning in your households. Know that, know peace.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by iluvdonjazzy: 4:37pm On Sep 05, 2024
Anijay1212:
This cho cho cho is getting on my nerves.
Why are things in Nigeria always the more you look, the less you see.
Today FEC will determine the price, tomorrow NNPCL "whatever that means" will set the price,then the next thing you hear is Dangote will fix the price.
My Goodness!!!
Funny enough they know what they want to do because i can swear to the fact that all the parties mentioned above are in constant communication amongst themselves. Or how do we explained the recent hike in petrol price, everyone is denying it but the price still stands.
But fellow Nigerians i believe that one day "monkey go go market but e no go return back"
angry angry angry
which day monkey wan go market wey no go return back.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by IdeasYapayaski: 4:40pm On Sep 05, 2024
abatically:
I think the FG are still trying to sabotage dangote petroleum. The FG has been secretly paying subsidy on imported fuel for over a year now and that is why the price is set at 568 naira at nnpc and around 618-620 at other major marketers. (In Lagos at least).

The moment dangote was about selling his own petrol, nnpc cried out that they are owing over $5 billion to suppliers and can no longer sustain selling at low rate. Increased the price to around 855-900 naira (in Lagos). Now they are saying they would let dangote set the price lol. Very funny. Isn't it obvious they are tying to make dangote the victim here. Why is it now that they decided to remove the subsidy (not even totally). Dangote cannot sell below 800 since the landing cost of imported is around 1,200. Now to the common man it would look like it's dangote that made the price of petrol high. Nice one FG, trying to push the blame to dangote.
Hello!!!! What concerns crude oil explored and refined In Nigeria with landing cost again?


What were they importing that suddenly make dollars to move from N287 to N1,600? If not rascality of the highest order. You ban importation of almost everything and dollars kept increasing, by who or what? And you think the economist or whoever is behind this nonsense is not mad🙄.

You're pinching yourself and at the same time screaming. Is that not madness of the highest order 🙄🙄🙄🙄
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Freebills12: 6:19pm On Sep 05, 2024
[color=#000099][/color]
Anijay1212:
This cho cho cho is getting on my nerves.
Why are things in Nigeria always the more you look, the less you see.
Today FEC will determine the price, tomorrow NNPCL "whatever that means" will set the price,then the next thing you hear is Dangote will fix the price.
My Goodness!!!
Funny enough they know what they want to do because i can swear to the fact that all the parties mentioned above are in constant communication amongst themselves. Or how do we explained the recent hike in petrol price, everyone is denying it but the price still stands.
But fellow Nigerians i believe that one day "monkey go go market but e no go return back"
angry angry angry
NNPCL and FG know what they are doing. Dangote made it categorically clear that the NNPCL has the mandate to set oil price Nigeria. According PIB it is the duty of the NNPC do that, they have done it the day Dangote launched his new PMS. They didn't even allow a day to pass because Dangote may divulge the price it took to produce a liter of fuel.
NNPCL has the sole right to import PMS. Let's see how the game plays out...
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Yemmysworld91: 6:33pm On Sep 05, 2024
LaRosa01:
rubbish talk ,trablism makes us hate even our helper.dangote cement is cheaper than any cement in the world,quality against price.you can use Google,it is your friend.any importer after buying must add shipping cost plus taxes plus profit before fixing price.bag of cement in America is $20 that is the cheapest at bulk price,in naira that is 36,000 naira a bag by the time you add shipping plus taxes plus profit the cheapest will be 50,000naira a bag.as we speak I know of countries begging to buy dangote cement off the nigeria market for there country because it is far cheaper.
On a norms i do ignore people like you but i just have to respond. I wish you know me in person to know i am one of the true Nigerians around. I've gone through what i typed and i wonder how tribalism crawled in. Dangote is not our helper! He is one of the problems with Nigeria. Argue with yourself.
Anyways, if i tell you what i know about Dangote cement production ehn, I'm talking of inside info. But i don't engage in unnecessary banters here. I'm hoping we get his fuel cheaper though. Cheers
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by MomohMrMoore: 7:12pm On Sep 05, 2024
How will Dangote set prices when nnpcl is the sole buyer and hikes the prices out of reach. God will purnish all of you and your families.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Bankowner: 7:46pm On Sep 05, 2024
FG simply wants to put Dangote in a tight corner by pitching him against fuel importers.
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by StreetTyga: 9:15pm On Sep 05, 2024
Country don scatter... mad fullsss on the seat
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by LaRosa01: 8:35am On Sep 06, 2024
dangote is the greatest thing ever to happen to Nigeria,if not for him both hands and legs of this country would have been tired to importation,there by ensuring we are slaves to foreign vices.i advice you to go and free yourself from mental slavery

Yemmysworld91:
On a norms i do ignore people like you but i just have to respond. I wish you know me in person to know i am one of the true Nigerians around. I've gone through what i typed and i wonder how tribalism crawled in. Dangote is not our helper! He is one of the problems with Nigeria. Argue with yourself.
Anyways, if i tell you what i know about Dangote cement production ehn, I'm talking of inside info. But i don't engage in unnecessary banters here. I'm hoping we get his fuel cheaper though. Cheers
Re: FG To Allow Dangote Refinery To Set Fuel Prices - Bloomberg by Yemmysworld91: 9:07am On Sep 06, 2024
LaRosa01:
dangote is the greatest thing ever to happen to Nigeria,if not for him both hands and legs of this country would have been tired to importation,there by ensuring we are slaves to foreign vices.i advice you to go and free yourself from mental slavery
You should be the one to free yourself of mental slavery. Ask yourself why indigenous owned cement, sugar companies was sold to Dangote, or you not aware that Nigeria owned those companies?
How was Dangote solely able to build a refinery and Nigeria as a whole can't!!!. I don't have issues with Dangote but you just drew unnecessary assumptions from my opinion. Grow up! And learn to argue without insults. Don't bother to respond cos i won't respond to any mention from a childish fellow like you again.
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