₦airaland Forum

CSTRR:
Please, APC supporters will get their own cheaper.

Why should they get their own cheaper when they voted for Tinubu because of his promise like all other candidates to deregulate the oil sector? Why are you Obi supporters crying more than the bereaved?

Kobojunkie:
Is the price of that same fuel the same across all of Nigeria as well?

I can only speak about where I live.

richmond500:
I don't know why we keep blaming Dangote, didn't he buy the crude from NNPCL?
A litre of crude is approximately N724

ALTERNATEID:
■ I can only speak about where I live.

The cost of fuel in some parts of river's state is Naira 2000 even with you paying only Naira 900 pre-Dangote supply. So, if post-Dangote supply, you continue to pay Naira 900 in Abuja, what price do you think the marketers would sell the same in River State?

ALTERNATEID:
We don’t know the price at which FG sold crude oil to Dangote and the exchange rate. If I don’t know anything, I am 100% sure the exchange rate used in the transaction is definitely not $1=N1650.

In transactions like this, a fixed rate below the market rate would have been agreed to because of the volatility of the exchange rate.

Selling it below market price is a form of subsidy na

MEEVEET:
I don't know why this government lie so much... This is becoming a sickness

There is no way under the sun dangote can sale petrol at ₦898... It's absolutely impossible

Crude oil cost 72 dollars per barrels it cost 5 dollars to refine averagly that's 77 dollars

There are 159 litres in a barrels

5% of crude is lost during refining average that's so we have 151 litres

refinery expect 40-45% gasoline, 25-30% diesel, 5-10% aviation fuel, and about 15-25% "other"

So let's use 45 petrol, 30 diesel and 10% aviation fuel ( kerosene +diesel blend)

The remaining 15% is basically worthless

For simplicity sake let's assume petrol diesel and kerosene are same price

85% of 151 = 129 litres of products
Crude cost + refining cost = 77*1650 = 127,050

That gives us a cost price of ₦985

Let's say dangote sets a profit margins of 15%

That gives us a final price of
₦ 1,132

I have been very very conservative here... Cost of refining, and yield but this is the minimum dangote can sale his petrol

You're saying the production cost is even more than the price NNPC announced as selling price from dangote?

MEEVEET:
Selling it below market price is a form of subsidy na

Yes. Do you want the price increased again? Nigerians have made it very clear they want cheap PMS. They want it below the actual market price.

ALTERNATEID:
Why should they get their own cheaper when they voted for Tinubu because of his promise like all other candidates to deregulate the oil sector? Why are you Obi supporters crying more than the bereaved?

I'm not a supporter of Peter Obi. But you guys should understand what we're talking about.
Deregulation is inevitable, fine.
But the place where we need the ingenuity of the president is what to do next after removing subsidy.

Watch Yemi Osinbajo APC manifesto and learn.
You don't just allow subsidy removal and be sitting, doing nothing worthwhile to see how other aspects of production lines we can leverage on will cover up for the oil.

Now, like PYO projected manufacturing and partnership with Nigeria young minds, Peter Obi was and still shouting production
Asiwaju never say anything, knowing capitalism and taxation are his ways of governance and that will spell doom for the poor ravaging Nigerans is the reason everyone is on his neck

Kobojunkie:
The cost of fuel in some parts of river's state is Naira 2000 even with you paying only Naira 900 pre-Dangote supply. So, if post-Dangote supply, you continue to pay Naira 900 in Abuja, what price do you think the marketers would sell the same in River State?

That’s the point of NNPC being the sole off-taker so that they can sell below the market price to maintain the current official price of around N900 to Nigerians. If marketers are to buy directly from Dangote in a willing buyer and willing seller arms length transaction, Nigerians will buy around N1200 and the noise will be too much. FG can’t afford another increment again.

ALTERNATEID:
■ That’s the point of NNPC being the sole off-taker so that they can sell below the market price to maintain the current official price of around N900 to Nigerians. If marketers are to buy directly from Dangote in a willing buyer and willing seller arms length transaction, Nigerians will buy around N1200 and the noise will be too much. FG can’t afford another increment again.

What you just said makes no sense!

Also, the last increase was made by NNPCL on September 3rd.

MEEVEET:
I don't know why this government lie so much... This is becoming a sickness

There is no way under the sun dangote can sale petrol at ₦898... It's absolutely impossible

Crude oil cost 72 dollars per barrels it cost 5 dollars to refine averagly that's 77 dollars

There are 159 litres in a barrels

5% of crude is lost during refining average that's so we have 151 litres

refinery expect 40-45% gasoline, 25-30% diesel, 5-10% aviation fuel, and about 15-25% "other"

So let's use 45 petrol, 30 diesel and 10% aviation fuel ( kerosene +diesel blend)

The remaining 15% is basically worthless

For simplicity sake let's assume petrol diesel and kerosene are same price

85% of 151 = 129 litres of products
Crude cost + refining cost = 77*1650 = 127,050

That gives us a cost price of ₦985

Let's say dangote sets a profit margins of 15%

That gives us a final price of
₦ 1,132

I have been very very conservative here... Cost of refining, and yield but this is the minimum dangote can sale his petrol

Did you factor in the fact that NNPC is only controlling the price of PMS
and Dangote is free to sell all other products(diesel, kerosine, etc) at market price?

Also, did you consider that NNPC may be selling subsidized crude to Dangote?
Remember, all the details of the deal are kept as top secret, we are only guessing.

Bobloco:
Watch dumbos in the name of BATerians come here to justify this price by comparing it with the price of a liter of petrol in Ghana, Chad, Niger, Benin Republic, and other neighboring African countries.

wailer make your village people go build their own refinery na.

Na another business you carry for head like firewood.

Bobloco:
Watch dumbos in the name of BATerians come here to justify this price by comparing it with the price of a liter of petrol in Ghana....

Ghana is more oil-rich than Nigeria, proportionate to its population, as explained recently by Reno Omokri.

This idea that Nigeria is oil-rich is a myth. Our limited oil reserves, low output (1.9 million bpd compared to Saudi's 14 million bpd) plus huge population of 230 million means the oil income is a pittance, and we can't afford to sell it ''CHEAP'' without going bankrupt.

figment232:
This is very heartless indeed, all our expectations for at least N500/litre finally dashed. Then what is d need for Dangote refinery on our soil if i may ask. Na God go help the poor.

Any Nigerian who expected it would be 500 per litre is a compound fool !

blaise26abj:
Any Nigerian who expected it would be 500 per litre is a compound fool !

You dey mind Bobloco?

Johncuppa:
I'm not a supporter of Peter Obi. But you guys should understand what we're talking about.
Deregulation is inevitable, fine.
But the place where we need the ingenuity of the president is what to do next after removing subsidy.

Watch Yemi Osinbajo APC manifesto and learn.
You don't just allow subsidy removal and be sitting, doing nothing worthwhile to see how other aspects of production lines we can leverage on will cover up for the oil.

Now, like PYO projected manufacturing and partnership with Nigeria young minds, Peter Obi was and still shouting production
Asiwaju never say anything, knowing capitalism and taxation are his ways of governance and that will spell doom for the poor ravaging Nigerans is the reason everyone is on his neck

The same Osinbajo that was Vice President for 8 years or which one?

You guys talk as if Tinubu has been president for the past 10 years. Considering the kind of economy he inherited, what magic do you want him to perform in a little over a year? Even the subsidy and unification of exchange rate that he’s pushing, we can all see the difficulties.

We must first stabilize the removal of all wasteful subsidies before talking about the gains. For now, it is still chaostic. The goal for now is to stabilize the system. Most especially the exchange rate. With Dangote PMS, we can achieve that in another one year. Without exchange rate stability, nothing much can be achieved.

blaise26abj:
Any Nigerian who expected it would be 500 per litre is a compound fool !

Any Nigerian who justifies this NNPCL price is the biggest fool on planet earth

ALTERNATEID:
Yes. Do you want the price increased again? Nigerians have made it very clear they want cheap PMS. They want it below the actual market price.

I just want them to be truthful

favor914:
You dey mind Bobloco?

Any Nigerian who justifies this NNPCL price is the biggest fool on planet earth

Johncuppa:
You're saying the production cost is even more than the price NNPC announced as selling price from dangote?

Yes... It won't kill APC to say the truth that we are paying subsidy

Bobloco:
Any Nigerian who justifies this NNPCL price is the biggest fool on planet earth

Roberto Carlos go fix your own price na.

MEEVEET:
Yes... It won't kill APC to say the truth that we are paying subsidy

Are you not happy, or you would rather pay 1,200 Naira?

No matter what is done, you can never satisfy the ungrateful lazy minded Wailers.

Bobloco:
Any Nigerian who justifies this NNPCL price is the biggest fool on planet earth

Lol 😂. It should be more ! 1,500 -2,000 sef . Until una ready to fight without religious and ethnic bigotry.

You are funny sha . 🤣 500 Naira per litre . Your delusion is certified

Salewa97:
Good news.

The price of petrol is going to crash soon.

after removing subsidy there I'll be competition from dangote, nnpc, private importers and price I'll go down how market

Ezmans:
after removing subsidy there I'll be competition from dangote, nnpc, private importers and price I'll go down how market

the worst is coming

MEEVEET:
I don't know why this government lie so much... This is becoming a sickness

There is no way under the sun dangote can sale petrol at ₦898... It's absolutely impossible

Crude oil cost 72 dollars per barrels it cost 5 dollars to refine averagly that's 77 dollars

There are 159 litres in a barrels

5% of crude is lost during refining average that's so we have 151 litres

refinery expect 40-45% gasoline, 25-30% diesel, 5-10% aviation fuel, and about 15-25% "other"

So let's use 45 petrol, 30 diesel and 10% aviation fuel ( kerosene +diesel blend)

The remaining 15% is basically worthless

For simplicity sake let's assume petrol diesel and kerosene are same price

85% of 151 = 129 litres of products
Crude cost + refining cost = 77*1650 = 127,050

That gives us a cost price of ₦985

Let's say dangote sets a profit margins of 15%

That gives us a final price of
₦ 1,132

I have been very very conservative here... Cost of refining, and yield but this is the minimum dangote can sale his petrol

This is why I said they should just remove it all because it is obvious they are still subsidizing ! Nigerians will adjust as usual . Let market forces decide our destiny

favor914:
Are you not happy, or you would rather pay 1,200 Naira?

No matter what is done, you can never satisfy the ungrateful lazy minded Wailers.

Subsidy is a scam, remove it so APC wont have any more excuse

obonujoker:
I cannot understand this country at all

If you do then you are dumb.

Haven't you heard that if you explain Nigeria to someone and the person understands then it wasn't explained well.

Good development

Rubbish

Practically it's same people that ran PDP that are running APC now the difference is that they've stepped up their acts of deception and wickedness to a whole new level, so unfortunate

So definitely the price of fuel ⛽️ will increased further in various filling stations. Hmm 🤔 inflation of food commodities will keep increasing on the various markets.