FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow - Politics (2)

FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow - Politics (2) - Nairaland

Nairaland Forum › Nairaland General › Politics › FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow (26137 Views)

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Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Dreal1247: 8:00am On Sep 14, 2024

And so, what is the agreed price? Hope they understand that the minimum wage is still #70, 000.00? We shall know the outcome of all the manipulations that brought petrol to #1, 500.00 in some places recently. I believe that they actually want to increase the price to about #1, 000.00 per litre. They should be warned not to try it.

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by CodeTemplarr: 8:08am On Sep 14, 2024

Aile:
Corruption of the highest order. Come to think of it why will the nnpc allow dangote to sell diesel to independent marketers directly and refuse selling of petrol to them directly? Something is cooking

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Odua4life: 8:12am On Sep 14, 2024

This is the best deal ever ..thank you Dangote thank you fg. The greedy marketers are fkd for life. Subsidy continues.. this is a welcome news.

2 Likes

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by CodeTemplarr: 8:21am On Sep 14, 2024

richmond500:
there is subsidy payment so they only will tell you how much they sell to the marketers and how much will be pump price. The price they buy from the refinery, they will hide it like their private part

exactly.

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by INTEGRITYA1(m): 8:28am On Sep 14, 2024

Okay

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by id4sho(m): 8:31am On Sep 14, 2024

Aile:
Corruption of the highest order. Come to think of it why will the nnpc allow dangote to sell diesel to independent marketers directly and refuse selling of petrol to them directly? Something is cooking

Subsidy bro.

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by designking: 8:31am On Sep 14, 2024

Without a subsidy on petrol, price per litre might go as high as ₦1,100 and this will spell doom for the government and APC. The opposition wants petrol to sell above ₦1,000 and this will be a template for civil unrest.

The best option is to subsidize petrol for now using Naira and also doing crude-petrol swap with Dangote Refinery.

This way, we can reduce the pressure of the Dollar allowing Naira to exchange around ₦1,000 to ₦1,200. Also inflation will gradually reduce.

A stronger naira means cheaper petrol. Within the next 6months the economy will greatly stabilise.

5 Likes

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by portacabin: 8:32am On Sep 14, 2024

Aile:
Corruption of the highest order. Come to think of it why will the nnpc allow dangote to sell diesel to independent marketers directly and refuse selling of petrol to them directly? Something is cooking

because petrol cost is subsidized

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Mitsurugi(m): 8:32am On Sep 14, 2024

richmond500:
wait, continue payment of subsidies?
Abi did I read that wrong?

Omo I see the thing o

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by chudez0147(m): 8:32am On Sep 14, 2024

How much ??

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Lokostar01: 8:34am On Sep 14, 2024

Aile:
Corruption of the highest order. Come to think of it why will the nnpc allow dangote to sell diesel to independent marketers directly and refuse selling of petrol to them directly? Something is cooking

diesel has been deregulated but pms has not

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by kolexy(m): 8:35am On Sep 14, 2024

Ngasky:
Why is the pms only for NNPC? That means NNPC will be the middlemen here.
Something is not clear here

What is not clear? If Dangote should release the actual price to the public, people will come for him. This arrangement allows the government takes care of the difference between the actual cost and the pump price i.e subsidy.

2 Likes

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by DeLaRue: 8:36am On Sep 14, 2024

I personally want the government to get rid of subsidy 100%.

However, I was not elected into any office so it is understandable that the President may well feel removing subsidy completely and allowing the price of petrol to reach over N1000 is not sustainable when people are hungry.

Fair enough. But any subsidy should be reduced significantly.

As for NNPCL being the sole buyer, I hope no problem with that.

I fear the price - manipulating prowess of the so-called independent marketers more that I fear NNPCL.

2 Likes

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by ModCaller: 8:36am On Sep 14, 2024

Aile:
Corruption of the highest order. Come to think of it why will the nnpc allow dangote to sell diesel to independent marketers directly and refuse selling of petrol to them directly? Something is cooking

Subsidy

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by chudez0147(m): 8:36am On Sep 14, 2024

richmond500:
there is subsidy payment so they only will tell you how much they sell to the marketers and how much will be pump price. The price they buy from the refinery, they will hide it like their private part

…like their private part lol

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Eleph(m): 8:37am On Sep 14, 2024

Back and forth

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Urgent1Million: 8:37am On Sep 14, 2024

It is finished
Payment of ~~subsidies~~ shortfalls by the FGN to itself continues.
Only this time, there'll be more money for the looters since the cost of transporting the PMS will be minimal.

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by slimthugchimee2(m): 8:38am On Sep 14, 2024

Exousiang01:
This story doesnt add up
NNPC is already supplying 30m parels to DRL

350k barel is as insignificant as the last “ue” in Queue for a redinery with a capacity of 600k
And a feed stock of 6m

DRL already said they are getting 11m barels by october and they have recieved 30m barels already.

This story doesnt add up.
No price

Where did you see NNPC supply dangote with 30m barrels

Most of dangote crudes are imported

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by crossbreedwears(m): 8:40am On Sep 14, 2024

Na wa for you oh. Do you know how many litres of petrol directors in NNPC gets every month and other side corner runs huh

Baba just leave NNPC and Dangote to deal with their wahala. As long as NNPC is in between Petrol and Diesel, we are backwards

Aile:
Corruption of the highest order. Come to think of it why will the nnpc allow dangote to sell diesel to independent marketers directly and refuse selling of petrol to them directly? Something is cooking

1 Like

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by blackmantis: 8:41am On Sep 14, 2024

Why must Nnpc be the sole buyer of PETROL from Dangote?

1 Like

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by JuanDeDios: 8:42am On Sep 14, 2024

Exousiang01:
This story doesnt add up
NNPC is already supplying 30m parels to DRL

350k barel is as insignificant as the last “ue” in Queue for a redinery with a capacity of 600k
And a feed stock of 6m

DRL already said they are getting 11m barels by october and they have recieved 30m barels already.

This story doesnt add up.
No price

I think you're mixing up 'PER DAY' and total supplies. No, 350k per day out of a total need of 650k per day is more than 50% - not insignificant.

1 Like

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by designking: 8:42am On Sep 14, 2024

kolexy:
What is not clear? If Dangote should release the actual price to the public, people will come for him. This arrangement allows the government takes care of the difference between the actual cost and the pump price i.e subsidy.

Exactly... Dangote actual price cannot be less than ₦1,000.

The advantage with local production is that, the subsidy is easier to pay as Dangote will pay tax and FG is also a co-owner of the refinery.

Eventually subsidy on petrol will be totally removed as Naira strengthens. With local petrol production, the pressure on the Naira will moderate allowing Naira to exchange around ₦1,000 - ₦1,200 to a dollar in the near future. This implies a 30% reduction in the cost of petrol.

The focus should be how local petrol production eventually stabilise the Naira-Dollar exchange rate.

1 Like

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by AmazingELixir: 8:43am On Sep 14, 2024

Finally

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Judolisco(m): 8:43am On Sep 14, 2024

Story... Hw much will be d price per barrel?

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by principalgee: 8:44am On Sep 14, 2024

The agreement is expected to ease the acute shortage of petrol across the country and also allow the government to continue the payment of subsidies on the product.
i think PBAT said subsidy is gone ni. abeg i no con understand this statement.
beside with all this story, there is no MARKET CONTROL PRICE.

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Gbajabiamila1: 8:44am On Sep 14, 2024

psucc:
Crude oil, Crude policies, crude price. No transparency at any level. Just CRUDE

NO TRANSPARENCY!

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by LockDown69(m): 8:45am On Sep 14, 2024

For those waiting for Dangote's PMS to crash the price, you will all be shocked grin

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by silverx(m): 8:46am On Sep 14, 2024

Ngasky:
Why is the pms only for NNPC? That means NNPC will be the middlemen here.
Something is not clear here

The matter no surprise you?
NNPC won hold Nigeria for ransom.

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by nairalanda1(m): 8:48am On Sep 14, 2024

The subsidy continues

The charade continues.

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by dododawa1: 8:48am On Sep 14, 2024

how much?

only concerned Nigerians

Re: FG, Dangote Reach Agreement On Petrol Supply, Lifting Begins Tomorrow by Agboogashi: 8:49am On Sep 14, 2024

psucc:
Crude oil, Crude policies, crude price. No transparency at any level. Just CRUDE

You are absolutely right my dear - everything in naija is crude.

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